Spotlight on Financial Services- Consumer bankruptcy
Repossessions and Bankruptcy Post-COVID, Post-Fulton [More with McGlinchey, Ep. 26]
Bill on Bankruptcy: LightSquared, the Battle among Hedge Funds
Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling
Bill on Bankruptcy: Sigmund Freud, Marx Brothers, Bernie Madoff
Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing
As one of the more toxic topics in the United States political and social realms, healthcare, and the debt associated with it, is always at the tip of most people’s tongue. Whether eagerly waiting to argue for proposed...more
Despite the excitement of many over rescheduling cannabis from Schedule I to Schedule III, the move does not make cannabis “legal” unless it is produced, sold, and used within the tightly regulated parameters of the...more
When Byron David filed a Chapter 7 bankruptcy case in July of 2018, Donald King was appointed Chapter 7 trustee. King filed an application to retain a law firm as his counsel. The bankruptcy court granted that application....more
Bankruptcy filings affect businesses across America. The Bankruptcy Code is complex and difficult to navigate. But used properly, it can helpcreditors to minimize losses when a customer files bankruptcy. ...more
In In re Pack Liquidating, LLC, 2024 WL 409830 (Bankr. D. Del. Feb. 2, 2024), the U.S. Bankruptcy Court for the District of Delaware ruled that, in accordance with Third Circuit precedent, the Bankruptcy Code, rather than...more
The Bankruptcy Code bars certain individuals or entities from filing for bankruptcy protection, generally because they do not reside or have a place of business or property in the United States, fail to satisfy certain debt...more
A recent issue surfaced in a Chapter 13 bankruptcy case related to a mortgage claim. The debtor had filed a previous bankruptcy case during which she had objected to the mortgage creditor’s claim. A hearing was set, but...more
In a recent legal development that underscores the intricate interplay between federal bankruptcy law and the cannabis industry, a court case has emerged involving a bankruptcy filing by an employee of a cannabis company....more
In a March 2024 decision, the U.S. Bankruptcy Appellate Panel for the First Circuit (the “Panel”) followed existing case law prohibiting debtors in businesses related to cannabis from availing themselves of federal bankruptcy...more
A Massachusetts Bankruptcy Court’s recent appellate decision in Blumsack v. Harrington (In re Blumsack) leaves the door open for those employed in the cannabis industry to seek bankruptcy relief where certain conditions are...more
Businesses in financial distress have multiple options to consider when attempting to reorganize or liquidate. A state court receivership or Chapter 7 Bankruptcy are likely options for liquidation when there are significant...more
In 2022, Congress passed the Bankruptcy Threshold Adjustment and Technical Corrections Act (the “Act”), raising the debt limits for bankruptcy cases under the Small Business Reorganization Act (“SBRA,” a.k.a. “Subchapter V”)...more
What happens to funds recovered by the trustee after the final plan payment is made in a chapter 13 case? According to the U.S. Bankruptcy Court for the District of Iowa, absent a plan provision providing otherwise, those...more
One year ago, we wrote that 2022 would be remembered in the corporate bankruptcy world for the "crypto winter" that descended in November 2022 with the spectacular collapse of FTX Trading Ltd., Alameda Research, and...more
Judge Jacqueline P. Cox recently found that three Illinois attorneys violated their ethical obligations by failing to return their client’s phone calls. She thus ordered the attorneys to return half of their...more
The recent detention of a restructuring professional in the United Arab Emirates serves as a stark reminder that directors and officers of insolvent or distressed companies can face personal liability for their actions or...more
Spotlight on Financial Services | Things happen very quickly in consumer bankruptcy filings. Dinsmore attorneys Edward J. Boll III, Esq. and Shannon O'Connell Egan work on a team that provides clients clear and concise...more
The Eighth Circuit recently weighed in on the issue of how to determine appropriate cramdown interest rates for secured creditors in Chapter 11 bankruptcy plans under Section 1129 of the Bankruptcy Code....more
It has been quite the interesting year in bankruptcy so far, with filings increasing in several chapters. Providing some market observations based upon the number of filings for commercial and consumer bankruptcy filings can...more
In a recently published opinion by Fourth Circuit Judge Quattlebaum, Jr., the majority of the panel found there to be a genuine dispute of material fact in Plaintiff Mark Anthony Guthrie’s North Carolina Debt Collection Act...more
On August 4, 2023, the bankruptcy court for the District of Oregon determined that proposed actions by a lender to enforce a pre-bankruptcy petition foreclosure judgment and evict a borrower—after the borrower filed for...more
There is longstanding controversy concerning the validity of third-party release provisions in non-asbestos trust chapter 11 plans that limit the potential exposure of various nondebtor parties involved in the process of...more
Whether a dispute that is subject to arbitration can or must be referred to arbitration after one of the parties to a prepetition arbitration agreement files for bankruptcy has long been a source of disagreement among...more
On average, the Supreme Court hears a single bankruptcy case each term. But during the October 2022 term, the Supreme Court issued a remarkable four decisions in bankruptcy cases. These decisions, which are summarized below,...more
Continuing with our series on bankruptcy schedules, today we’ll look at Schedule J, which is used to provide information about your monthly expenses. Schedule J is usually not discussed without discussing it in conjunction...more