In bankruptcy, certain specified types of debts are forgiven or “discharged”, releasing the debtor from personal liability for those debts. Debt discharges are permanent, and when granted, the debtor is no longer required to...more
On June 7, 2022, the Fourth Circuit Court of Appeals unanimously held that the exceptions to discharge found in section 523(a) of the Bankruptcy Code, which ordinarily exclusively apply to individual debtors, also apply to...more
For both debtors and creditors, the numbers are important in a bankruptcy proceeding. The Judicial Conference of the United States has announced that certain dollar amounts and dollar limitations in the U.S. Bankruptcy Code...more
In the case of In re Ricky L. Moore (19-01228), the United States Bankruptcy Court for the Northern District of Iowa taught an important lesson in the context of Chapter 12 bankruptcy cases: do not rely on repeated assurances...more
My most recent post surveyed situations in which a debtor might lose assets, or see their value drop to zero, during a bankruptcy case. This article addresses the opposite circumstance: how might a debtor’s estate gain new...more
In In re Rogers Morris, 2020 WL 1321894 (Bankr. N.D. Miss. Mar. 16, 2020), the U.S. Bankruptcy Court for the Northern District of Mississippi contributed to an existing split among the courts by joining the majority view in...more
The Small Business Reorganization Act of 2019 ("SBRA"), the Honoring American Veterans in Extreme Need ("HAVEN") Act, and the Family Farmer Relief Act were enacted into law on August 23, 2019. This alert summarizes these...more
Running a family-owned farm is not easy work under the best of economic circumstances, and it can be nearly impossible when times are tough. More than 30 years ago, during the mid-1980s, John Cougar Mellencamp’s mournful song...more
On August 23, 2019, the President of the United States of America signed three new bankruptcy amendments into law. The first bill, H.R. 3311, ratifies The Small Business Reorganization Act of 2019, creating a new option for...more
Chapter 12 Bankruptcy was a common topic in the 1980’s-- the days of the Farm Aid concert and farmers driving tractors to Washington D.C. However, current difficulties are again raising the value of Chapter 12’s as a tool for...more
Low grain and milk prices have negatively affected Wisconsin’s ag economy for a few years now. As further evidence of the financial stress on Wisconsin farmers, the national bankruptcy statistics show that, in 2017, more...more
On December 1, 2017, several important changes to the Federal Rules of Bankruptcy Procedure will be implemented. Those changes will impact creditors who have secured claims, judgment liens, and unsecured claims against...more
Creditors need to know of significant changes about to occur to the Federal Rules of Bankruptcy Procedure ("Bankruptcy Rules"). On December 1, 2017, certain amendments to the Bankruptcy Rules will become effective. This...more