Consumer Bankruptcy, Debtors

Fla. Bankruptcy Ruling Is Cautionary Tale for Debt Collectors

Troutman Pepper on 6/7/2024

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

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

Jones Day on 6/6/2024

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

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

Jones Day on 5/31/2024

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

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

Troutman Pepper on 5/31/2024

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

Preclusive Effect Of Bankruptcy Claims And Court Orders On Claims Objections

Freeman Law on 5/22/2024

A recent issue surfaced in a Chapter 13 bankruptcy case related to a mortgage claim. The debtor had filed a previous bankruptcy case during which she had objected to the mortgage creditor’s claim. A hearing was set, but...more

Budtender Bankruptcy Blindside

Seyfarth Shaw LLP on 4/19/2024

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

Spotlight on Financial Services- Consumer bankruptcy

Dinsmore & Shohl LLP on 1/12/2024

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

"The § 1111(b) Election: Overview, Considerations and Unique Issues in Subchapter V"

Adams and Reese LLP on 12/8/2023

Under § 506(a)(1) of the Bankruptcy Code, a secured creditor’s claim is secured only to the extent of the collateral’s value. Any amount over that value is bifurcated into a separate unsecured claim. Critically, if a...more

Bankruptcy, Insolvency & Restructuring Proceedings in Italy (Updated)

International Lawyers Network on 11/15/2023

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER ITALIAN LAW - 1. Presentation of the judicial liquidation/ insolvency/ rehabilitation proceedings in Italy and their main characteristics. The...more

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

Jones Day on 7/28/2023

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

Bankruptcy Schedules: Schedule J

Freeman Law on 6/28/2023

Continuing with our series on bankruptcy schedules, today we’ll look at Schedule J, which is used to provide information about your monthly expenses. Schedule J is usually not discussed without discussing it in conjunction...more

High Court Bankruptcy Ruling Is a Warning to Joint Obligors

Troutman Pepper on 6/26/2023

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

Bankruptcy Schedules: Schedule H

Freeman Law on 6/15/2023

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

Bankruptcy 101: Claims: Types and Priorities

Nelson Mullins Riley & Scarborough LLP on 5/31/2023

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

Bankruptcy Schedules: Schedule F

Freeman Law on 5/31/2023

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

Bankruptcy Schedules: Schedule E

Freeman Law on 5/23/2023

Continuing our series on bankruptcy schedules, today we turn to Schedule E. Schedule E is used to list all of your priority unsecured debts. Although Schedule E is now combined with Schedule F, we will separate the two for...more

Bankruptcy Schedules: Schedule D

Freeman Law on 5/16/2023

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

9th Circ. Ruling Clarifies Homestead Exemption Ambiguities

Troutman Pepper on 5/3/2023

Suppose you are a lender or credit provider to California consumers. At the start of the pandemic, one of your customers runs up $50,000 in debt and fails to pay. You obtain a judgment and secure it by recording an...more

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

Locke Lord LLP on 4/26/2023

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

Late Appeals and Excusable Neglect: A Curious Case Where a Court Gives an Individual a Break

Patterson Belknap Webb & Tyler LLP on 4/11/2023

Persuading a bankruptcy judge to find “excusable neglect” after missing a filing deadline is usually a tough sell. You’d think it would be particularly hard when the party seeking relief was “belligerent and disrespectful to...more

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

Nelson Mullins Riley & Scarborough LLP on 3/30/2023

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

Consumer Bankruptcy › Debtors