News & Analysis as of September 23, 2024

Bankruptcy Code

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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 +

High Court Bankruptcy Ruling Is a Warning to Joint Obligors

Troutman Pepper on 6/26/2023

In a unanimous decision, the U.S. Supreme Court held that Section 523(a)(2)(A) of the U.S. Bankruptcy Code precludes a debtor from discharging a debt obtained by fraud, regardless of the debtor's own culpability. ...more

Innocence Is No Defense: Debt Obtained by Fraud Is Nondischargable

Miller Canfield on 2/24/2023

A debt “for money, property, services, or an extension [. . .] of credit, to the extent obtained by [. . .] actual fraud,” is not dischargeable in a chapter 7 bankruptcy case. Courts have questioned whether this applied if...more

Compilation of Recent Developments in Bankruptcy Law - January 2023

Jenner & Block on 2/1/2023

1. AUTOMATIC STAY - 1.1 Covered Activities - 1.1.a Court declines to enjoin third party claims against the debtor’s jointly liable parent corporation. The debtor manufactured earplugs for many years. A major...more

Restructuring Roundup - March 2022

Arnall Golden Gregory LLP on 3/29/2022

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

The Discharge in Bankruptcy - Open Avenues for Consumer Creditors

Spilman Thomas & Battle, PLLC on 8/6/2020

In a typical consumer bankruptcy, a debtor seeks the benefit of two concepts. First, the debtor seeks the breathing room afforded that debtor by the automatic stay. Second, the debtor seeks to discharge all debt obligations...more

Bankruptcy Chatter and COVID-19: Bankruptcy & Creditors' Rights Insights, Issue 1

Spilman Thomas & Battle, PLLC on 6/1/2020

Welcome to our first edition of Bankruptcy Chatter - our e-newsletter devoted to bankruptcy and creditors' rights. Our goal is to bring you the most up-to-date information, especially given this uncertain time during the...more

Will My Judgment Get Discharged in Bankruptcy?

Ward and Smith, P.A. on 5/20/2019

Bankruptcy is meant to provide a fresh start for the honest but unfortunate debtor. A debtor who files Chapter 7 does so with the presumption that all his or her debts will be forgiven or "discharged." But what about the...more

Burr Alert: Lenders Beware: 11th Circuit holds borrower’s false oral statement regarding single asset does not provide basis for...

Burr & Forman on 3/23/2017

Section 523(a)(2) of the Bankruptcy Code is clear that a debtor can discharge a debt for money obtained by a false statement respecting the debtor’s financial condition unless that statement is in writing. What hasnot been...more

It’s Not Just Actual Fraud: Intent to Hinder, Delay, or Defraud Can Be Present Even with the Best of Intentions

Robins Kaplan LLP on 1/4/2017

The Bankruptcy Code contemplates several penalties for transfers made by a debtor with an intent to “hinder, delay, or defraud” creditors. Although most situations focus on an “actual intent to defraud,” the Tenth Circuit...more

Equitable Liens: No Mortgage Does Not Necessarily Mean No Lien

Troutman Pepper on 10/14/2015

Marcum v. Marcum (In re Marcum), 508 B.R. 499 (Bankr. M.D. Fla. 2014) – A creditor made two prepetition loans to a chapter 13 debtor for payment of delinquent real estate taxes. The loans were supposed to be secured by...more

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