News & Analysis as of

Chapter 13

Ohio Bankruptcy Court Strikes Down Mortgage, Imposes Six-Year Statute of Limitations

Much has been said recently in Ohio law concerning the enforcement of notes and foreclosures on mortgages. In summary, the plaintiff must be the holder of the note and mortgage with the right of enforcement of both...more

A Crack In The Courthouse Doors For Marijuana Related Businesses And The Availability Of Bankruptcy Protection

by SmithAmundsen LLC on

A recent decision from the Bankruptcy Appellate Panel of the Ninth Circuit is another in a small, but growing line of cases finding that bankruptcy cases need not be mandatorily dismissed simply because they touch upon...more

Maritime Liens and the Automatic Stay: Impact of the Ninth Circuit’s Barnes Decision

by Garvey Schubert Barer on

Can a Bankruptcy Court order the sale of a vessel “free and clear” of a seaman’s maritime lien for maintenance and cure under Bankruptcy Code § 363? According to the Ninth Circuit’s recent ruling in Barnes v. Sea Hawaii...more

Awkward: Old Friend From Church Blocks Discharge of Student Loan Debt

Providing an exception to the axiom that no good deed goes unpunished (a wonderful phrase courtesy of Clare Booth Luce, author, Ambassador, speaker, and a model for our times even thirty years after her death), a Texas...more

Florida Passes Bill to Stop Bankruptcy Debtors From “Having Their Cake and Eating It Too”

by BakerHostetler on

On March 20, Florida Governor Rick Scott signed Senate Bill 220 into law. The bill is designed to limit the ability of defendants in foreclosure proceedings to keep contesting the foreclosure after agreeing, in bankruptcy, to...more

Green Hands Aren’t Unclean Hands: 9th Circuit BAP Retreats from Mandatory Dismissal in Marijuana Cases

by Burns & Levinson LLP on

A 92-year-old landlord who leased a storefront to a marijuana dispensary will receive a new hearing after a court dismissed her bankruptcy case on the grounds that acceptance of rent payments from the dispensary disqualified...more

Bankruptcy Court Reluctantly Allows Creditor To Shuck “Lil’ Sweet Pea” Accounts

Any first-year law student could attest that understanding what the law is can be a difficult task, in part because the law is not always applied consistently by courts. This problem gives rise to a maxim law professors often...more

High Court Faced with the Issue of Marijuana Legalization in Bankruptcy

It was only a matter of time before the budding state laws legalizing marijuana use ran up against the federal government’s treatment of the drug as a controlled substance – and what better place for the two sides to meet...more

Interest Rates are Rising in South Carolina Courts

by McNair Law Firm, P.A. on

Current economic signs give consumers, investors and economists alike reason for optimism. Unemployment is at historically low levels which means employers are having to offer higher wages to attract and keep talent. Although...more

Eleventh Circuit Holds That a Creditor’s Due Process Claim Can Be Inadvertently Waived By Inaction

by Burr & Forman on

On December 11, 2017, in a case entitled In re Iliceto, the Eleventh Circuit Court of Appeals affirmed the district court’s decision, which held that Nationstar Mortgage, LLC (“Nationstar” or the “Creditor”) received notice...more

Three key changes for bankruptcy procedures in 2018

by Thompson Coburn LLP on

The New Year brings with it new changes to the bankruptcy code. These recent rule changes apply to any case filed after December 1, 2017, and may apply retroactively to pending proceedings in those instances where it would be...more

Prison for Bankruptcy Fraud Where Creditors Paid 100%

by Clark Hill PLC on

On November 7, 2017, a panel of the Third Circuit, in an unreported decision, upheld the District Court’s determination that intended loss equaled the amount of concealed assets in a bankruptcy fraud case in which creditors...more

Bankruptcy Courts Just Say No to the Marijuana Industry

Despite growing public acceptance of marijuana and the wide-spread passage of state laws legalizing marijuana for medicinal and even recreational purposes, marijuana remains a criminal offense under federal law which presents...more

Comparison: Chapter 11 vs Chapter 12 vs Chapter 13

by Nexsen Pruet, PLLC on

A chart providing an overview and comparison of the major facets of an individual Chapter 11 reorganization case, a Chapter 12 adjustment of debts of a family farmer or fisherman with regular annual income, and a Chapter 13...more

Court Holds that Bankruptcy Judges Cannot Impose Punitive Sanctions

Bankruptcy courts lack the power to impose serious punitive sanctions, a federal district judge ruled recently in PHH Mortgage Corporation v. Sensenich, 2017 U.S. Dist. LEXIS 207801 (D. Vt. Dec. 18, 2018). Judge Geoffrey...more

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

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