Repossessions and Bankruptcy Post-COVID, Post-Fulton [More with McGlinchey, Ep. 26]
NGE On Demand: Insurance Issues in Bankruptcy with Jason Frye
Podcast - Credit Funds: Make-Wholes and Cramdowns: Understanding the Recent Second Circuit Momentive Decision
Bill on Bankruptcy: Sigmund Freud, Marx Brothers, Bernie Madoff
The Consumer Financial Protection Bureau (CFPB) recently issued two bulletins highlighting its concerns with business practices in the auto finance and servicing industries as a result of inflation and the potential for...more
The February Supreme Court decision in City of Chicago v. Fulton was widely celebrated in the lending community because the court found that a lender who repossesses a vehicle before a borrower files for bankruptcy is not in...more
By now, you likely are aware of the recent Supreme Court decision in City of Chicago, Illinois v. Fulton. The Court rightly found that merely retaining possession of a vehicle repossessed pre-petition is not a violation of...more
Chicago v. Fulton, No. 19-357: Under the Bankruptcy Code, filing a bankruptcy petition creates a bankruptcy estate and also operates as a stay on any entity’s efforts to collect from the debtor outside the bankruptcy forum....more
The Third Circuit has recently held in In re Denby-Peterson, 941 F.3d 115 (3rd Cir. 2019) that creditors who refuse to relinquish an item that was seized pre-petition are not subject to sanctions because their refusal does...more
In the fifth opinion involving the repo liquidation saga of HomeBanc, the Third Circuit addressed several crucial issues involving the liquidation and valuation of repo collateral in bankruptcy. In re HomeBanc Mortg....more
In July 2016, Joy Denby-Peterson purchased a Chevrolet Corvette. When she defaulted on one of her car payments a few months later, the Corvette was repossessed by her lender. Denby-Peterson then filed a voluntary petition...more
The American Bankruptcy Institute’s Commission on Consumer Bankruptcy released its Final Report and recommendations on April 12, 2019. The commission was created in 2016 to research and develop recommendations to improve the...more
On February 27, 2017, the United States Court of Appeals for the Tenth Circuit joined a minority approach followed by District of Columbia Circuit: failing to turn over property after demand is not a violation of the...more
Most lenders know that a bank cannot repossess collateral after a borrower files bankruptcy unless the bank first obtains relief from the automatic stay. But can a bank retain collateral that it repossessed before the...more