One issue which has confounded bankruptcy attorneys and courts is whether a creditor, that seized the debtor’s property before the debtor filed for bankruptcy, violates the automatic stay if it does not voluntarily return the...more
The Ninth Circuit has generally prohibited nonconsensual third-party releases in bankruptcy reorganization plans since at least 1949. See In re Lowenschuss, 67 F.3d 1394, (9th Cir. 1995) (citing Commercial Wholesalers, Inc....more
Preference actions have been vexing creditors for as long as the Bankruptcy Code has been around. Indeed, a creditor who receives a pre-petition transfer in violation of the preference statute may have to give the transferred...more
Section 547 of the Bankruptcy Code allows a bankruptcy trustee to recover transfers from creditors that are labeled “preferences.” To avoid a transfer as a preference, the trustee must generally demonstrate that the transfer:...more
In In re Nilsson, 129 Nev. Adv. 101 (December 26, 2013), the United States Bankruptcy Court for the District of Nevada certified the following question to the Nevada Supreme Court:
Can a debtor properly claim a...more
In Brooksby v. Nevada State Bank, 129 Nev. Adv. Op. 82 (Nov. 7, 2013), Nevada State Bank obtained a deficiency judgment against the guarantor of a commercial loan and then garnished funds contained in bank accounts jointly...more