Creditors Debtors

News & Analysis as of

California Amends Identity Theft Requirements for Debt Collectors

The California legislature has amended the existing requirements for debt collectors who receive consumer claims of identity theft with the Identity Theft Resolution Act (“Act”). See AB 1723; Cal. Civ. Code § 1785.16.2. The...more

Creditors and Debt Collectors Should Pay Close Attention to the CFPB’s Consent Order with Navy Federal Credit Union

The Consumer Financial Protection Bureau (CFPB) announced a consent order with Navy Federal Credit Union (Navy Federal) on October 11, 2016. While financial institutions should always analyze CFPB consent orders closely and...more

Eighth Circuit Opinions Highlight Need to Apply Appellate Lens at Trial Court

We often quip that the best way to establish a winning record as an appellate lawyer is to represent the party that won below; that’s no joke. In nearly every appellate court— state or federal— appellants have an uphill...more

Commercial Restructuring & Bankruptcy Alert - October 2016

Welcome to the October 2016 issue of the CR&B Alert, the newsletter produced by Reed Smith's Commercial Restructuring & Bankruptcy Group. Excerpt from newsletter: DELAWARE AND NEW YORK AT ODDS OVER RECLAMATION...more

Delaware Organizational Meeting – Filip Technologies, Inc.

Upcoming Committee Formation Meeting: Friday, October 14, 2016, 11:00 a.m. Case Name: Filip Technologies, Inc. Case Number: 16-12192 (KG)...more

Delaware Bankruptcy Court Upholds Reclamation Creditors’ Rights

Vendors — take note! The Delaware bankruptcy court in In re Reichhold Holdings US Inc. recently issued an important ruling for vendors asserting reclamation rights. Under section 546(c) of the Bankruptcy Code, a vendor...more

Unsecured Creditors May Expect Better Recoveries in Bankruptcy

On August 31, 2016, United States Bankruptcy Judge Robert A. Mark ruled that a bankruptcy trustee can pursue avoidance of property transfers that occurred nearly ten years before the debtor’s bankruptcy filing. The...more

3 Steps To Successful Judgment Enforcement

Congratulations. After a hard-fought battle, your client’s win is secured and the opposition’s liability determined. But don’t rest easy; obtaining judgment in your client’s favor does not mean the fight is...more

How You Can Settle Your Debts Using Marketing Tactics

When it comes to dealing with debt there are really three options: (1) pay them in full, (2) settle the debt for an amount less than the full amount, or (3) file for bankruptcy. If you can’t pay your debts in full and...more

The Impacts of South Korean Hanjin Shipping Co Ltd. Filing for Court Receivership

South Korea’s Hanjin Shipping Co Ltd. filed for court receivership on Wednesday, August 31st in South Korea after losing the support of its banks, setting the stage for its assets to be frozen as West Coast ports deny access...more

13 Pitfalls of Bankruptcy in Arizona

Bankruptcy is a powerful tool that can once and for all eliminate your debt problems. And while bankruptcy is a lot less painful than most imagine, there are certain pitfalls that can make the process a whole lot more...more

Supreme Court of Nevada Holds That Legal Malpractice Claim Was Impermissibly Assigned

Tower Homes, LLC v. Heaton, ___ P.3d ___, 2016 WL 4273578 (Nev. 2016) - Brief Summary - The Supreme Court of Nevada held that a bankruptcy trustee's stipulation and court's order permitting creditors to pursue the...more

Delaware Bankruptcy Court Rules Gift Cards Not Eligible for Priority Treatment

Decision clarifies standards for priority treatment under section 507(a)(7); important implications in retail bankruptcy cases for debtors, creditors - and consumers Overview - In October 2015, City Sports, Inc....more

Confirmation Of A Chapter 11 Plan: Good Faith In The Context Of “Artificial Impairment”

In order to confirm a chapter 11 plan, at least one class of creditors whose claims are “impaired” must accept the plan. The concept of “impairment” is very broad. Under the Bankruptcy Code, a class of claims is impaired...more

Creditors Beware-Automatic Stay Violations Can Lead to Massive Punitive Damages

Ohio Bankruptcy Judge Assesses $250,000 in Damages Against Mortgage Lender for Violating the Automatic Stay in Bankruptcy Proceeding - A clerical error by a mortgage lender led to punitive damages and expensive...more

Court decides to ‘wait and see’ in its refusal to grant an administration order

Rowntree Ventures Ltd v Oak Property Partners Ltd [2016] EWHC 1523 (Ch) - The High Court recently re-affirmed the discretionary nature of its right to grant an administration order. In this case, the court refused to...more

Eleventh Circuit Weighs In on the FCRA’s Furnisher Investigation Requirement

The 11th Circuit has clarified that the Fair Credit Reporting Act (FCRA) requires furnishers of credit information—like their credit reporting agency (CRA) counterparts—to conduct "reasonable" investigations of consumer...more

The Customer Finally Pays, But the Bankruptcy Trustee Demands the Payment Be Returned; What to do When Faced with a Preference...

Many businesses have been there - a customer who is always slow to pay or, worse yet, has stopped all payments. You diligently press them for payment and after many promises, you finally receive payment. The receivable...more

Bankruptcy Courts Divided On Whether Chapter 13 Plan Extends Time for Redemption

Bankruptcy courts are currently divided on whether a debtor has a right to redeem property sold at a tax sale after the removed “statutory” redemption period has run. The time for redemption depends on the law of the state...more

Bankruptcy Court Rules Chapter 13 Debtors Must Assume or Reject Leases in 120 Days

In a recent decision from the Bankruptcy Court for the District of Maine, In re Cho, the Court ruled that 11 U.S.C. § 365(d)(4)(A) applies to debtors in Chapter 13 cases. In this case, the debtors operated a dry cleaning...more

Creditors Benefit from Seventh Circuit’s Interpretation of “Ordinary Course of Business” Defense to Preferences

The Court of Appeals for the Seventh Circuit recently discussed the standard for whether payments made to vendors in the 90 days prior to a bankruptcy filing are within the “ordinary course of business” defense. In making...more

How Reporting a Crime May Subject You to Sanctions

You are a creditor and your loan is secured by personal property, let’s say equipment. The borrower recently filed for bankruptcy protection. You receive a phone call from a friend advising you that someone has a moving...more

Bankruptcy Courts Closing In – Will An Agreement Requiring Unanimous Consent To File For Bankruptcy Be Effective?

We’ve all seen it. The business opportunity looks enticing but is laced with risk about a potential bankruptcy filing down the road. As bankruptcy lawyers we are often asked how deals can be structured to prevent a...more

Seventh Circuit Clarifies What It Takes to Make a Preference Payment “Ordinary”

The Bankruptcy Code permits a bankruptcy trustee to compel return of a payment made to a creditor within 90 days before a bankruptcy petition. 11 U.S.C. § 547(b)(4)(A). The justification for compelling the return of...more

Indah Kiat – A Scheme Pulped

On 12 February 2016 Snowden J handed down his judgment in Indah Kiat International Finance Company B.V. [2016] EWHC 246 (Ch). Indah Kiat International Finance Company B.V. ("Indah Kiat"), part of the global Asia Pulp & Paper...more

169 Results
View per page
Page: of 7
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.