Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling
Bill on Bankruptcy: Lawyers Easily Make Simple Words Complicated
Bill on Bankruptcy: ResCap Report, a Bargain at $83 Million
Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing
Wage garnishment. If I were to guess what the number one thing that pushes people past the tipping point of thinking about filing bankruptcy to actually calling me up and moving things forward, I would say it is wage...more
The US Court of Appeals for the Ninth Circuit recently resolved a split within the circuit when it held that a bankruptcy court has the power to recharacterize debt as equity. In In re Fitness Holdings International, Inc.,...more
If you are needing to file a chapter 7 bankruptcy here in Arizona you will be required to attend one court hearing known as the Meeting of Creditors. Sometimes this meeting is simply called the “341? meeting – with “341?...more
A new Illinois law will close a loophole through which some mortgages could be subject to avoidance in bankruptcy. The loophole, created by U.S. Bankruptcy Court’s (C.D. Illinois) 2012 In re Crane opinion, allowed a...more
The United States Bankruptcy Court for the Southern District of New York granted motions to dismiss involuntary Chapter 7 petitions filed against TPG Troy LLC and T3 Troy LLC (the Troy Entities). Petitioners filed numerous...more
Bankruptcy cases are administered by trustees appointed by the Office of the U.S. trustee, which is part of the U.S. Department of Justice (DOJ). Typically, the debtor never has to appear before a judge. So who is this...more
May 15 (Bloomberg Law) -- Trustees of all types are sleeping easier, knowing that their liabilities for theft by a co-trustee is a debt that can be wiped out in bankruptcy as a result of a unanimous Supreme Court decision...more
In a recent decision, the United States Bankruptcy Court for the Southern District of New York found the standard for sealing under § 107 of the Bankruptcy Code was not met and declined to seal a settlement agreement, despite...more
Section 341 of the Bankruptcy Code is titled meetings of creditors and equity security holders and contains the provisions for conducting this court hearing. Because it is governed by section 341, the hearing is often called...more
One of the primary roles of a Chapter 7 trustee is to ensure that the bankruptcy estate is preserved prior to liquidation. It is no wonder, then, that the Trustee’s avoidance powers are well defined by the Bankruptcy Code....more
After filing for Chapter 7 bankruptcy, a consumer discovered that her credit report listed delinquent payments to a bank even though she had been current with her payments up to the date she filed. After disputing the report...more
Three bankruptcy courts within the Eleventh Circuit have recently issued opinions in which they have reluctantly allowed the debtor to entirely strip off the interests held by junior lienholders when the value of the real...more
April 24 (Bloomberg) -- With $64 million at stake for creditors of Lehman Brothers Holdings Inc., lawyers can find complexity even in simple words like "immediately proceeding," as Bloomberg Law's Lee Pacchia and Bloomberg...more
Today was a pretty exciting day…if you are a bankruptcy attorney in Arizona. In fact, if you are needing to file bankruptcy and you live in the great state of Arizona you should be excited as well. Or at a minimum slightly...more
April 10 (Bloomberg Law) -- Why the Residential Capital LLC examiner's report will cost almost $83 million is the first item on the new Bloomberg bankruptcy video with Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy...more
When the time comes to collect a debt, few organizations are as accomplished as the Internal Revenue Service. The IRS showed just such guile in the case of In re Williams, a recent Chapter 7 proceeding in the Middle District...more
Things have been bad for a long time. Here in Arizona bankruptcy filings have been near 40,000 per year for several years. However, this year things seem to be improving. Bankruptcy filings are down – significantly. That...more
In the grand scheme of things most would consider this a lose/lose situation. I mean, who really want’s to file for bankruptcy. No one. That’s who. But if you find yourself in the position of needing to file bankruptcy...more
If you have been in an car accident or injured and now have a claim against the person who did the injuring (is that a word??), then what happens to this claim if you file for bankruptcy here in the great State of Arizona? ...more
Filing for bankruptcy can be an emotionally charged decision. You want to pay your debts, but the financial challenges can be overwhelming, especially in this economic climate. Filing for bankruptcy can lift the financial...more
March 13 (Bloomberg Law) -- Someone who bought stock in American Airlines last year already made a killing. Stock that could have been bought in November for less than 40 cents a share is now trading above $4, for...more
After receiving a general release from his debts under Chapter 7 bankruptcy, Roger Traversa filed for release from his $60,000 student loan debt, claiming that it would be an undue hardship for him to repay. Traversa...more
Although each state may determine its own bankruptcy exemptions, federal law governs the overall structure and purpose of bankruptcy law. In general, all 50 states must follow the same rule for child support and alimony...more
The U.S. Commodity Futures Trading Commission (CFTC) has charged Agape World, Inc. and Agape Merchant Advance with defrauding customers of tens of millions of dollars in a commodity futures trading scheme. The CFTC’s press...more
Question: I am two months behind on my car payments. What will happen to my car during my chapter 7 bankruptcy?...more
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