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Consumer Bankruptcy › Bankruptcy Court › Debtors

Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are... more +
Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are eligible for Chapter 7 or Chapter 13 depending on the nature of their debts and assets. less -
Troutman Pepper

Fla. Bankruptcy Ruling Is Cautionary Tale for Debt Collectors

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In the case of In re: McIntosh, a debt purchaser’s assertion that it was entitled to enforce a debt not correctly listed on the debtor’s bankruptcy schedules was met with significant pushback from the U.S. Bankruptcy Court...more

Jones Day

Business Restructuring Review Vol. 23 No. 3 | May-June 2024

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In In re Pack Liquidating, LLC, 2024 WL 409830 (Bankr. D. Del. Feb. 2, 2024), the U.S. Bankruptcy Court for the District of Delaware ruled that, in accordance with Third Circuit precedent, the Bankruptcy Code, rather than...more

Jones Day

Fifth Circuit: Preference Claims Are Property of the Bankruptcy Estate that Can Be Sold

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A debtor's non-exempt assets (and even the debtor's entire business) are commonly sold during the course of a bankruptcy case by the trustee or a chapter 11 debtor-in-possession ("DIP") as a means of augmenting the bankruptcy...more

Troutman Pepper

Should I Care That the Debtor Has Filed a Motion to Sell Its Assets? - Creditor’s Rights Toolkit

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Sales under Section 363 of the Bankruptcy Code have become commonplace in bankruptcy cases as a mechanism to liquidate a debtor's assets and maximize value for creditors. Selling the debtor's assets to a third party offers...more

Seyfarth Shaw LLP

Budtender Bankruptcy Blindside

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In a recent legal development that underscores the intricate interplay between federal bankruptcy law and the cannabis industry, a court case has emerged involving a bankruptcy filing by an employee of a cannabis company....more

Dinsmore & Shohl LLP

Spotlight on Financial Services- Consumer bankruptcy

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Spotlight on Financial Services | Things happen very quickly in consumer bankruptcy filings. Dinsmore attorneys Edward J. Boll III, Esq. and Shannon O'Connell Egan work on a team that provides clients clear and concise...more

Jones Day

Business Restructuring Review July-August 2023 | Vol. 22 No. 4

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There is longstanding controversy concerning the validity of third-party release provisions in non-asbestos trust chapter 11 plans that limit the potential exposure of various nondebtor parties involved in the process of...more

Troutman Pepper

High Court Bankruptcy Ruling Is a Warning to Joint Obligors

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In a unanimous decision, the U.S. Supreme Court held that Section 523(a)(2)(A) of the U.S. Bankruptcy Code precludes a debtor from discharging a debt obtained by fraud, regardless of the debtor's own culpability. ...more

Freeman Law

Bankruptcy Schedules: Schedule H

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Continuing our look at Bankruptcy Schedules, today we turn to Schedule H, which is used to list all of your co-debtors.  A co-debtor is someone who is jointly liable with you on a debt.  For example, if you and your spouse...more

Nelson Mullins Riley & Scarborough LLP

Bankruptcy 101: Claims: Types and Priorities

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Bankruptcy Basics for New and Non-Bankruptcy Attorneys - This entry is part of Nelson Mullins’s ongoing “Bankruptcy Basics” blog series that is intended to address foundational aspects of bankruptcy for new and...more

Freeman Law

Bankruptcy Schedules: Schedule F

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Continuing our series on bankruptcy schedules, Schedule F is used to list all of your general unsecured debts. General unsecured debts are those that are not secured by collateral and are not entitled to priority payment...more

Freeman Law

Bankruptcy Schedules: Schedule D

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Continuing on with our series on Bankruptcy Schedules, today we’ll look at Schedule D, which is used to list all of the secured debts that you owe as of the date that you filed for bankruptcy.  Secured debts are those that...more

Locke Lord LLP

Orlansky v. Quicken Loans, LLC & ‎Violations of the Automatic Stay

Locke Lord LLP on

Notices of filing bankruptcy from debtors to its creditors are intended to halt all collection efforts of prepetition debts. But where lenders are required by law to provide information to mortgagors who are debtors in...more

Nelson Mullins Riley & Scarborough LLP

Bankruptcy 101: Bankruptcy Cases, Adversary Proceedings, and Contested Matters - Bankruptcy Basics for New and Non-Bankruptcy...

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This entry is part of Nelson Mullins’s ongoing “Bankruptcy Basics” blog series that is intended to address foundational aspects of bankruptcy for new and non-bankruptcy practitioners and professionals. This entry will discuss...more

McGlinchey Stafford

Decision Blocks Ch. 13 Bankruptcy for Cannabis Business Employee

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If you work for a cannabis business, then bankruptcy relief may not be available to you, according to the In re Blumsack decision out of the U.S. Bankruptcy Court for the District of Massachusetts. Whether an employee works...more

Jenner & Block

Compilation of Recent Developments in Bankruptcy Law - January 2023

Jenner & Block on

1. AUTOMATIC STAY - 1.1 Covered Activities - 1.1.a Court declines to enjoin third party claims against the debtor’s jointly liable parent corporation. The debtor manufactured earplugs for many years. A major...more

Jenner & Block

Recent Developments in Bankruptcy Law, January 2023

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1. AUTOMATIC STAY - 1.1 Covered Activities - 1.1.a Court declines to enjoin third party claims against the debtor’s jointly liable parent corporation. The debtor manufactured earplugs for many years. A major multinational...more

Seward & Kissel LLP

Crypto implosion? EV C7, the Perelman Polka, bankruptcy bellwethers?

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Below is our initial take on recent bankruptcy-related developments: Celsius Networks, a crypto lending platform that has marketed itself as an alternative to the traditional banking model, does not offer its users any...more

Arnall Golden Gregory LLP

You Never Give Me Your Money: Initial Recipient of Funds is Not Always a “Transferee” Liable for Fraudulent Transfers

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In a recent summary order in an appeal from a bankruptcy court, the United States Court of Appeals for the Second Circuit reaffirmed that mere receipt of a fraudulent transfer is not always sufficient to render the recipient...more

Arnall Golden Gregory LLP

Restructuring Roundup - March 2022

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AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Nelson Mullins Riley & Scarborough LLP

Does the Bankruptcy Code Allow for Partial Discharge of Student Loans?

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Section 523(a)(8) of the Bankruptcy Code excepts from discharge in bankruptcy certain student loans, “unless excepting such debt from discharge under this paragraph would impose an undue hardship.” By its terms, section...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Australia

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KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER AUSTRALIAN LAW - Companies - Corporate insolvency in Australia mostly involves a company being placed in liquidation or administration. ...more

JAMS

Bankruptcy Matters: The New Pandemic Wave is Coming

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You might reasonably assume, given the ongoing economic upheaval due to the COVID-19 pandemic, that the number of personal and corporate bankruptcies would have skyrocketed. But that’s not been the experience for three JAMS...more

Foster Swift Collins & Smith

Sixth Circuit Upholds Chapter 13 Debtor’s Right to Request and Receive Dismissal of Bankruptcy Case

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A statute must be interpreted and enforced as written, regardless, according to the U.S. Court of Appeals for the Sixth Circuit, “of whether a court likes the results of that application in a particular case.” That legal...more

Patterson Belknap Webb & Tyler LLP

Update: Seventh Circuit Revives Fulton Circuit Split

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In January, we reported that the Supreme Court had resolved a split among the Circuit Courts of Appeals regarding property seized from a debtor pre-petition, holding that “merely retaining possession of estate property does...more

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