News & Analysis as of

Chapter 13

New Bankruptcy Rules that Creditors Need to Know and Follow

by Ward and Smith, P.A. on

On December 1, 2017, several changes to the Federal Rules of Bankruptcy Procedure took effect. The changes involve consumer cases under Chapter 13 and affect creditors with secured claims, unsecured claims, and judgment liens...more

Bankruptcy Rule Amendments Now in Effect

by Barley Snyder on

Bankruptcy professionals, be ready. There are now some major changes in the bankruptcy filing process, and noncompliance could cause you to lose in court....more

Creditors Beware: Inbound Bankruptcy Rule Changes Require Heightened Awareness

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

Amendments to the Federal Rules of Bankruptcy Procedure Effective on December 1, 2017

by Reed Smith on

Amendments to the Federal Rules of Bankruptcy Procedure become effective December 1, 2017. We highlight those amendments below, separating the discussion into amendments that impact both business and consumer bankruptcy...more

Second Circuit Issues Key Cramdown Interest Rate Ruling

by Jones Day on

In Momentive Performance Materials Inc. v. BOKF, NA (In re MPM Silicones, L.L.C.), 2017 BL 376794 (2d Cir. Oct. 27, 2017) ("Momentive"), the U.S. Court of Appeals for the Second Circuit, in a long-anticipated decision,...more

Client Alert: Shorter Deadline for Filing Bankruptcy Claims and Other Changes to Bankruptcy Rules Starting December 1st

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

In Bankruptcy, a Lease Isn't Always a Lease

by Ward and Smith, P.A. on

In In re Price, the United States Bankruptcy Court for the Eastern District of North Carolina recently explored the difference between a “true” lease of personal property and “disguised” financing. Creditors should take heed...more

A Decision of Interest: U.S. Court of Appeals for the Second Circuit Opines on the Proper Interest Rate Under the Cramdown...

by Shearman & Sterling LLP on

On October 20, 2017, the United States Court of Appeals for the Second Circuit issued an important decision regarding the manner in which interest must be calculated to satisfy the cramdown requirements in a chapter 11 case....more

Blog: Amendments To The Federal Rules Of Bankruptcy Procedure Take Effect December 1, 2017

by Cooley LLP on

Just about every year amendments are made to the rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The amendments address issues identified by an Advisory Committee made up of...more

2nd Circuit: Secured Lenders Entitled to Market-Rate Interest in Cram-Down Plan

by McGuireWoods LLP on

In October 2017, the 2nd U.S. Circuit Court of Appeals, in In re MPM Silicones (Momentive) LLC, held that a non-consenting class of creditors is entitled to receive post-confirmation interest at a market rate if an efficient...more

Fee Disgorgement Can Be The Least Of Your Problems

by Fox Rothschild LLP on

In a decision signed October 25, 2017, Judge Shannon of the Delaware Bankruptcy Court issued an opinion requiring a professional to disgorge fees, pay a sanction of $25,000, and enjoined him from taking various actions in...more

Second Circuit Requires Consideration of Efficient Market for Chapter 11 Cramdown Interest Rates

by Latham & Watkins LLP on

Ruling overturns New York decision rejecting market-based approach. Key Points: - Court of Appeals for the Second Circuit requires courts to consider efficient market interest rate, if available, for purposes of chapter...more

Second Circuit: Secured Lender Not Entitled to a Make Whole Premium in “Cramdown” Restructuring, But May Be Entitled to Higher...

by BakerHostetler on

On October 20, in Matter of M.P.M. Silicones, L.L.C. (“M.P.M. Silicones”), the United States Court of Appeals for the Second Circuit held that secured noteholders were not entitled to an approximately $200 million make-whole...more

Cramdown Interest Rate Best Set Based on Market Rates

by Robinson & Cole LLP on

The Bankruptcy Code permits cramdown of a secured creditor but requires that the secured creditor receive deferred cash payments at least equal to the value of its collateral. This means that installment payments to the...more

Can a Lease Survive Foreclosure?

by Locke Lord LLP on

Two recent federal foreclosure cases applied Texas law and one highlighted a fact situation that may involve a new (2015) statute. In Arbuckle v. Chesapeake, Case No. 3:14-CV-04584-M (N.D. Texas, Dallas Division September...more

Dear Debtor, Three Strikes And You’re Outta Here!

by Fox Rothschild LLP on

When an individual files for bankruptcy protection, he/she is entitled to certain wonderful benefits. For example, a Chapter 13 bankruptcy filing will stop (at least temporarily) a home foreclosure or car repossession and...more

Coming Soon: Bankruptcy Proofs of Claim Must be Filed Sooner and by More Claimants

by Snell & Wilmer on

Bankruptcy Rule 3002 is getting an update, which goes into effect on December 1, 2017. Creditors in a Chapter 7 (liquidation), Chapter 12 (family farmer), and Chapter 13 (individual reorganization) bankruptcy need to take...more

From the Top In Brief - July/August 2017

by Jones Day on

In Midland Funding, LLC v. Johnson, No. 16-348, 2017 BL 161314 (U.S. May 15, 2017), the U.S. Supreme Court ruled that a credit collection agency does not violate the Fair Debt Collection Practices Act ("FDCPA") when it files...more

Upcoming Amendments to Bankruptcy Rule 3002 to Impact Bankruptcy Filing Practices for Mortgagees

by K&L Gates LLP on

Effective December 1, 2017, certain amendments to the Federal Rules of Bankruptcy Procedure (“the Bankruptcy Rules”) recently adopted by the Supreme Court will impact the allowance of secured claims in bankruptcy. Below, we...more

What Happens to a Creditor’s Claim If It Received Notice and Fails to File by the Claim’s Bar Date?

by Ervin Cohen & Jessup LLP on

Question: I am a receiver in a fraud case where there are a lot of investors, trade creditors and secured creditors. Pursuant to my request, the court established a claims procedure and set a deadline for all creditors to...more

Reaping Wild Oats – Creative Strategies Employing the Concepts of Chapter 12 of the Bankruptcy Code for Handling Distressed...

by Ervin Cohen & Jessup LLP on

Handling distressed agricultural loans can be very tricky. Loan balances for agricultural loans are typically smaller than nonagricultural commercial real property secured loans, requiring that they be handled extremely cost...more

The Effects of a Creditor’s Non-Participation in Bankruptcy Proceedings

Although not required for the res judicata analysis, the court also found that Montanaro received constitutionally sufficient notice of the debtor’s bankruptcy, the plan, and confirmation order to be bound by the plan’s...more

Supreme Court Issues Two Rulings Interpreting FDCPA

by Tucker Arensberg, P.C. on

The Supreme Court recently issued two rulings interpreting various sections of the Fair Debt Collection Practices Act (FDCPA) in favor of creditors and certain debt buyers. The FDCPA protects debtors from unfair collection...more

Recent Bankruptcy Decision from the Western District of Wisconsin Discusses Negative Equity, Car Loans, and the Chapter 13 Cram...

by Ruder Ware on

A quick introduction for those of you who are not bankruptcy nerds. For certain types of collateral, Chapter 13 allows a Debtor to reduce a secured creditor’s claim down to the value of the collateral. This is called “cram...more

Bankruptcy Court Finds No Stay Violation Where Creditor Initially Refused to Return Vehicle to Debtor Who Claimed Equitable...

by Nexsen Pruet, PLLC on

From the Bankruptcy Court for the District of South Carolina : In McCall v. Anderson Brothers Bank (In re McCall), Adv. Pro. No. 16-80008-jw (Bankr. D.S.C. 2016), the Honorable John E. Waites held that a creditor did not...more

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