It’s the stuff of nightmares. You think you have cleared all of the debt on your home when it goes into foreclosure, only for that debt to crawl up years later and attack you....more
On Sunday, June 14, 2015, Colt Holding Company LLC and 9 affiliates, including Colt Defense, LLC filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware. The case is docketed...more
The U.S. Supreme Court held that a secured creditor in a chapter 7 bankruptcy case is protected from having its lien “stripped off” even if the collateral securing its claim is worth less than the claims asserted by a senior...more
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
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