On June 27, 2024, the United States Supreme Court decided the Purdue Pharma appeal.
In a five-to-four decision, the Supreme Court held that a bankruptcy court may not extend to non-debtors the benefits of a Chapter 11...more
7/9/2024
/ Appeals ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Debtors ,
Non-Debtors ,
Opioid ,
Pharmaceutical Industry ,
Purdue Pharma ,
Third-Party Release Agrements
Under the Bankruptcy Code, filing a bankruptcy petition automatically halts efforts to collect pre-petition debts from the debtor outside of bankruptcy.
This is the "automatic stay," and it is a command, not a suggestion....more
1/21/2020
/ Appeals ,
Automatic Stay ,
Bankruptcy Court ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Dismissals ,
Federal Rules of Bankruptcy Procedure ,
Motion for Relief from Automatic Stay ,
Reaffirmation ,
Right To Appeal ,
Ritzen Group Inc v Jackson Masonry LLC ,
SCOTUS ,
Time-Barred Claims
When your customer is in bankruptcy, there are two major no-nos that you must remember.
First, don't violate the automatic stay, which prevents a creditor from attempting to collect a debt while the debtor is in bankruptcy...more
6/27/2019
/ Appeals ,
Attorney's Fees ,
Bankruptcy Appellate Panel (BAP) ,
Bankruptcy Code § 524(a) ,
Bankruptcy Discharge Order ,
Chapter 7 ,
Civil Contempt Orders ,
Concurrent Litigation ,
Creditors ,
Dischargeable Debts ,
Injunctive Relief ,
Money Judgment ,
Reasonable Belief Test ,
Remand ,
Reversal ,
SCOTUS ,
Standard of Review ,
Statutory Violations ,
Taggart v Lorenzen ,
Vacated
In my last article, I discussed how the Fourth Circuit Court of Appeals affirmed the denial of a Chapter 7 debtor’s discharge because the debtor intentionally lowballed the value of his interest in a real estate investment...more
7/6/2018
/ Adversary Proceedings ,
Appeals ,
Bankruptcy Code ,
Business Assets ,
Chapter 7 ,
Commercial Bankruptcy ,
Congressional Intent ,
Debtors ,
Dischargeable Debts ,
False Statements ,
Judgment Creditors ,
Lamar Archer & Cofrin LLP v Appling ,
Oral Communications ,
Reaffirmation ,
SCOTUS ,
Tax Returns
The United States Court of Appeals for the Fourth Circuit—which covers federal courts in North Carolina—recently affirmed a borrower’s victory against a loan servicer under the federal Fair Credit Reporting Act (“FCRA”). In...more
9/15/2017
/ Appeals ,
Compensatory Damages ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Equifax ,
Fair Credit Reporting Act (FCRA) ,
Foreclosure ,
Jury Verdicts ,
Loan Servicer ,
Punitive Damages ,
Reaffirmation ,
Reduction of Damages ,
Unfair or Deceptive Trade Practices
Henkel v. Triangle Homes is a North Carolina Court of Appeals case with dueling tax foreclosure proceedings involving the same property. One foreclosure proceeding was for unpaid municipal taxes and the other for unpaid...more
8/9/2017
/ Appeals ,
Federal Taxes ,
Foreclosure Sales ,
Forfeiture ,
IRS ,
Lenders ,
Lien Priority ,
Local Taxes ,
Non-Judicial Foreclosures ,
Property Tax ,
Recording Statutes ,
Tax Liens
In an important decision for creditors, the North Carolina Supreme Court recently clarified the distinction between judicial foreclosure and non-judicial foreclosure by power of sale. In U.S. Bank v. Pinkney, the Supreme...more
On Friday, May 5, 2017, in a major victory for lenders, the North Carolina Supreme Court reversed the North Carolina Court of Appeals’s decision in United Community Bank v. Wolfe. In July 2015, the Court of Appeals decided in...more
5/10/2017
/ Appeals ,
Borrowers ,
Community Banks ,
Deficiency Judgments ,
Foreclosure ,
Genuine Issue of Material Fact ,
Lenders ,
NC Supreme Court ,
Substantial Evidence Standard ,
Summary Judgment ,
Valuation
The United States Supreme Court recently decided a case that impacts lenders and other creditors in Chapter 11 bankruptcy proceedings. The Supreme Court held that a bankruptcy court may not approve a “structured dismissal” of...more
4/10/2017
/ Absolute Priority Rule ,
Appeals ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Consent ,
Czyzewski v Jevic Holding Corp ,
Reversal ,
SCOTUS ,
Structured Dismissals ,
WARN Act
The United States Court of Appeals for the Fourth Circuit—which covers federal courts in North Carolina—recently handed a victory to residential real estate lenders dealing with borrowers who file for Chapter 13 bankruptcy...more