News & Analysis as of

Consumer Bankruptcy Chapter 11

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 -

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

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

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

Debt Dialogue: August 2017 - Setoff and Recoupment in Bankruptcy: A Brief Overview

This article provides a brief overview of the somewhat related doctrines of setoff and recoupment in the Chapter 11 context. Setoff is recognized in the Bankruptcy Code to offset the claims of creditors and the debtor in a...more

2016 Bankruptcy Statistics for the Western District of Wisconsin: Overall Filings Decreased 5.5%, but Chapter 12 Farm Bankruptcies...

by Ruder Ware on

The 2016 bankruptcy statistics tell an interesting story.  While the total number of bankruptcy cases filed in 2016 in the Western District of Wisconsin (“WDW”) fell 5.5% to its lowest level in ten years, Chapter 12 farm...more

Court Rejects Lender’s Objection to Payment of Debtor’s Counsel’s Fees and Expenses from Pre-Petition Retainer

by Burr & Forman on

In a decision rendered on December 30, 2016, the bankruptcy court for the Southern District of Florida (the “Court”) addressed the debtor’s counsel’s interim application for an award of fees and expenses for services rendered...more

A Flawless Foreclosure is Not Preference

by Barley Snyder on

There is a division among bankruptcy courts across the country as to whether a properly conducted sheriff sale can be considered a “preference,” but Pennsylvania courts continue to send a clear message: They can’t....more

Unauthorized Transfers of Receivership Property: Void, Voidable or Ok?

by Ervin Cohen & Jessup LLP on

Question: Unauthorized Transfers of Receivership Property: Void, Voidable or Ok? Answer: In a recent unpublished bankruptcy appellate panel decision (In Re Domum Locis, LLC, 2015 WL 4697747 (9th Cir. BAP 2015)), the BAP...more

Excess Policies at Issue Deemed Not to Attach Absent Actual Payment of the Amount of Underlying Limits by Either the Insured or...

by K&L Gates LLP on

Policyholders contemplating insurance coverage settlements with low-level insurers should use caution to preserve their ability to access higher-level excess policies. Excess insurers are increasingly disputing that...more

When One Spouse Files for Bankruptcy, But Not the Other

by Best Best & Krieger LLP on

When a Chapter 7, 11, or 13 case is filed, a new entity is created called the bankruptcy estate. A bankruptcy estate is comprised of all of the debtor’s non-exempt legal or equitable interests in property as of the time of...more

Equitable Liens: No Mortgage Does Not Necessarily Mean No Lien

by Pepper Hamilton LLP on

Marcum v. Marcum (In re Marcum), 508 B.R. 499 (Bankr. M.D. Fla. 2014) – A creditor made two prepetition loans to a chapter 13 debtor for payment of delinquent real estate taxes. The loans were supposed to be secured by...more

Accidentally On Purpose: Washington Court Finds Coverage For Contempt Of Court Based On “Misunderstanding”

by Carlton Fields on

Professional liability policies cover claims based on the insured’s alleged negligent acts, errors or omissions, and not claims for “sanctions or penalties” for “willful” professional misconduct. But the insurer’s duty to...more

New Administrative Orders Amend Procedures for Creditors in Consumer Bankruptcy Cases Pending in the Middle District of Florida

by Wilson Elser on

Prior to September 1, 2015, procedures in consumer chapter 13 bankruptcy cases varied greatly across the divisions of the Middle District of Florida, creating vastly different workflows for creditors and attorneys with cases...more

What General Counsel Should Know When a Company's Tenant Files for Bankruptcy

Your tenant files for bankruptcy-what’s your move? Debtors who are lessees under real property leases have certain rights regarding their lease under § 365 of the Bankruptcy Code. Essentially, the debtor has two options: 1)...more

The Supreme Court Holds That a Bankruptcy Court’s Order Denying Confirmation of a Debtor’s Proposed Chapter 13 Plan Is Not a...

by Shearman & Sterling LLP on

In a May 4, 2015 opinion1, the United States Supreme Court held that a bankruptcy court order denying confirmation of a chapter 13 repayment plan is not a final order subject to immediate appeal. The Supreme Court found that,...more

Becoming a Creditor in a Bankruptcy Case Triggers a Duty to Preserve Documents

by Butler Snow LLP on

A litigator in bankruptcy court is challenged with mastery of a trial lawyer’s skills as well as the developing substantive law, jurisdictional and otherwise, governed by the Bankruptcy Code. Who hasn’t heard of Stern v....more

Supreme Court Reaffirms a Chapter 7 Debtor's Inability to Strip a Lien Against Real Property

by Allen Matkins on

Reaffirming its 1992 decision in Dewsnup v. Timm, on June 1, 2015, the U.S. Supreme Court in Bank of America v. Caulkett, No. 13-1421, once again ruled that a chapter 7 debtor may not void a junior lien under Bankruptcy Code...more

United States Supreme Court Holds that Order Denying Plan Confirmation Is Not Immediately Appealable

by Womble Bond Dickinson on

On May 4, 2015, the Supreme Court for the United States unanimously held that an order denying confirmation of a plan is not a “final” order subject to immediate appeal as a matter of right. Although the Bullard decision...more

The Supreme Court Continues Stability In The Secondary Mortgage Market

by McCarter & English, LLP on

On Monday, the Supreme Court reaffirmed the principle that junior “underwater” residential mortgage liens can “pass through” a bankruptcy case unaffected. In Bank of America, N.A. v. Caulkett, the Supreme Court held...more

The Supreme Court Prohibits Chapter 7 Debtors From Stripping Off Wholly Underwater Liens in Bankruptcy

by Buchalter on

On June 1, 2015, the United States Supreme Court in Bank of America, N.A. v. Caulkett, 575 U.S. ____ (2015), unanimously held that a Chapter 7 debtor cannot strip off wholly “underwater” liens secured by the debtor’s...more

Supreme Court Holds That Orders Denying Plan Confirmation Are Not Final for Appellate Purposes

On May 4, 2015, a unanimous United States Supreme Court in Bullard v. Blue Hills, 135 S. Ct. 1686 (2015), resolved a long-standing circuit court split by holding that a bankruptcy court’s order denying confirmation of a...more

Supreme Court Decides Bullard v. Blue Hills Bank

by Faegre Baker Daniels on

On May 4, 2015, the U.S. Supreme Court decided Bullard v. Blue Hills Bank, No. 14-116, holding that a bankruptcy court’s order denying confirmation of a Chapter 13 debtor’s proposed repayment plan is not a final order and...more

I owe too much money to file bankruptcy. Wrong!

by Malcolm Ruthven on

Why do some people think this is true? After all, you read about large corporations that owe many millions filing bankruptcy. Whatever the reason, it's just not true. Let's take a look as what is true...more

Denial of Plan Confirmation and Finality - Supreme Court's Resolution of Circuit Split May Apply to Chapter 11

by Burr & Forman on

The Supreme Court has agreed to hear Bullard v. Hyde Park Savings Bank (In re Bullard), U.S., No. 14-116 (cert. granted 12/12/14). The Court's decision in this case will resolve a circuit split with regard to whether an order...more

Bankruptcy Beat: Connecticut District Court Affirms the Bankruptcy Court’s Dismissal of an Individual Chapter 11 Case For The...

by Pullman & Comley, LLC on

Countless individual debtors file for bankruptcy to save their homes from foreclosure, but some of them abuse the bankruptcy court system in the process. Vega v. United States Trustee, 2014 WL 4843698 (D. Conn. 2014)...more

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