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Consumer Bankruptcy › Creditors › Supreme Court of the United States

Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are... more +
Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are eligible for Chapter 7 or Chapter 13 depending on the nature of their debts and assets. less -
Jones Day

Business Restructuring Review July-August 2023 | Vol. 22 No. 4

Jones Day on

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

McGlinchey Stafford

Repossessions and Bankruptcy Post-COVID, Post-Fulton [More with McGlinchey, Ep. 26]

McGlinchey Stafford on

COVID-19’s economic impact on borrowers’ ability to repay loans has had major repercussions for auto lenders, and the U.S. Supreme Court recently issued a decision relating to repossessions in bankruptcy. In this episode of...more

Obermayer Rebmann Maxwell & Hippel LLP

Just Hold on: The Supreme Court Rules That a Creditor’s Mere Retention of Property Lawfully Seized Prepetition Does Not Violate...

Obermayer Rebmann Maxwell & Hippel LLP on

In a case with significant implications for the practices of the lending industry, the Supreme Court unanimously ruled in early 2021 that a secured creditor that lawfully repossesses collateral does not have an affirmative...more

Patterson Belknap Webb & Tyler LLP

Update: Seventh Circuit Revives Fulton Circuit Split

Patterson Belknap Webb & Tyler LLP on

In January, we reported that the Supreme Court had resolved a split among the Circuit Courts of Appeals regarding property seized from a debtor pre-petition, holding that “merely retaining possession of estate property does...more

Bradley Arant Boult Cummings LLP

Having Trouble with CARES Act Forbearances in Ch. 13 Bankruptcy? You’re Not Alone!

Bradley Arant Boult Cummings LLP on

Consumers that have pending Chapter 13 bankruptcy cases undoubtedly suffered from financial hardship prior to the COVID-19 pandemic. For many of those consumers, the pandemic may have exacerbated that hardship...more

Carlton Fields

Can Doing Nothing as a Creditor Get You Sanctioned?

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Most experienced creditors know that once a debtor files bankruptcy the automatic stay imposed by Section 362 of the Bankruptcy Code generally precludes various actions to recover debt. ...more

Baker Donelson

The Supremes Tell the Eleventh Circuit: No Lien Stripping

Baker Donelson on

On June 1, 2015, the United States Supreme Court issued a unanimous ruling resolving a split amongst circuit courts in which the 11th circuit was the singular minority, addressing the permissibility of “lien-stripping” in...more

McCarter & English, LLP

The Supreme Court Continues Stability In The Secondary Mortgage Market

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On Monday, the Supreme Court reaffirmed the principle that junior “underwater” residential mortgage liens can “pass through” a bankruptcy case unaffected. In Bank of America, N.A. v. Caulkett, the Supreme Court held...more

Buchalter

The Supreme Court Prohibits Chapter 7 Debtors From Stripping Off Wholly Underwater Liens in Bankruptcy

Buchalter on

On June 1, 2015, the United States Supreme Court in Bank of America, N.A. v. Caulkett, 575 U.S. ____ (2015), unanimously held that a Chapter 7 debtor cannot strip off wholly “underwater” liens secured by the debtor’s...more

Dickinson Wright

The U.S. Supreme Court Holds That Inherited IRAs Are Not Exempt In Bankruptcy

Dickinson Wright on

On June 12, 2014, the United States Supreme Court unanimously held in Clark v. Rameker Trustee that funds in an individual retirement account (“IRA”) inherited from someone other than the bankrupt debtor’s spouse are not...more

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