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Consumer Bankruptcy › Chapter 7 › 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 -
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

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

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

Pullman & Comley, LLC

Connecticut Bankruptcy Courts Rule That New Homestead Act Applies Retroactively to Claims Arising Before Act’s Effective Date

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A homestead exemption is a law that protects a certain amount of equity in an individual’s primary residence from the claims of his or her creditors or, in some states like Florida, the amount of the exemption is unlimited...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

Nelson Mullins Riley & Scarborough LLP

Bankruptcy 101: The “Estate” and “Property of the Estate” - Bankruptcy Basics for New and Non-Bankruptcy Attorneys

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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 non-bankruptcy practitioners and professionals.  This entry will explain the...more

BCLP

Now That We Found Assets, What Are We Going To Do With Them?

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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

JAMS

[PODCAST] JAMS Neutrals Discuss the Use of Mediation in Bankruptcy Cases

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In this podcast, JAMS neutrals Judge Joan Feeney and Judge Phillip Shefferly share their thoughts on why mediation is a good tool to resolve bankruptcy disputes, provide listeners with a look into their own approaches to...more

Bowditch & Dewey

Six Questions About Involuntary Bankruptcy

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Trying to collect money from someone who cannot or will not pay you is frustrating. That old chestnut about throwing good money after bad comes to mind. Placing an individual or firm (your “debtor”) into bankruptcy is a...more

Bradley Arant Boult Cummings LLP

Take It to the Limit: Increase in Chapter 13 Debt Limits

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Individuals have several options when filing bankruptcy. Chapter 13 is often preferred for individuals with regular income who wish to keep their homes and other secured assets. In a Chapter 13 filing, the court will approve...more

Obermayer Rebmann Maxwell & Hippel LLP

Bankruptcy Courts Just Say No to the Marijuana Industry

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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

Ruder Ware

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

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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

Best Best & Krieger LLP

When One Spouse Files for Bankruptcy, But Not the Other

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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

Bradley Arant Boult Cummings LLP

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

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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

Butler Snow LLP

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

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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

Allen Matkins

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

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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

McCarter & English, LLP

The Supreme Court Continues Stability In The Secondary Mortgage Market

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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

Buchalter

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

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

Pullman & Comley, LLC

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

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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

Troutman Pepper

Abandonment: When Property Drops Out of the Bankruptcy Estate

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In re Rich, 510 B.R. 366 (Bankr. D. Utah 2014) – In a case that was converted from a chapter 11 reorganization to a chapter 7 liquidation, the debtor sought an order directing the trustee to abandon certain real...more

Baker Donelson

Sixth Circuit Clarifies Burden of Proof on Lien Validity and Confirms Availability of Defensive Avoidance Powers

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On December 17, 2013, the United States Court of Appeals for the Sixth Circuit issued an opinion in the matter of Grant, Konvalinka & Harrison, P.C. v. C. Kenneth Still, (Case No. 12-6374) resolving two bankruptcy issues of...more

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