Spotlight on Financial Services- Consumer bankruptcy
Repossessions and Bankruptcy Post-COVID, Post-Fulton [More with McGlinchey, Ep. 26]
Bill on Bankruptcy: LightSquared, the Battle among Hedge Funds
Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling
Bill on Bankruptcy: Sigmund Freud, Marx Brothers, Bernie Madoff
Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing
Unlike most items of personal property, a motor vehicle usually has a certificate of title. We all know that the point of a vehicle title is to show who owns the vehicle and who (if anyone) has a lien on it....more
As one of the more toxic topics in the United States political and social realms, healthcare, and the debt associated with it, is always at the tip of most people’s tongue. Whether eagerly waiting to argue for proposed...more
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
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 | 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
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
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
Bankruptcy lawyers recently gained access to a promising technology for improving the efficiency of tasks like drafting a motion for relief from stay. ChatGPT allows users to employ generative artificial intelligence by...more
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
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
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
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
2. AVOIDING POWERS - 2.1 Fraudulent Transfers - 2.1.a Imposition and payment of a tax penalty is not a fraudulent transfer. While insolvent, the debtor incurred and paid tax penalties before bankruptcy. A transfer of...more
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
Chapter 13 bankruptcy provides relief only to individuals with regular income. This Chapter is most frequently used by debtors who have sufficient disposable monthly income to make some payments over time to their creditors....more
Chicago v. Fulton, No. 19-357: Under the Bankruptcy Code, filing a bankruptcy petition creates a bankruptcy estate and also operates as a stay on any entity’s efforts to collect from the debtor outside the bankruptcy forum....more
The Fourth Circuit stands alone currently as the only circuit requiring unanticipated, changed circumstances in order to modify a confirmed Chapter 13 Plan. The Eleventh Circuit just joined the majority on a circuit...more
In a Chapter 13 bankruptcy, debtors propose a plan to re-pay all or a portion of their debts. The amount to be repaid depends on how much the debtors earn, the amount and types of debt owed, and how much property they own....more
The Eleventh Circuit recently affirmed a Florida bankruptcy court’s denial of plaintiff’s motion for sanctions. In doing so, the Court rejected the consumer’s attempt to import the FDCPA’s “least sophisticated consumer”...more
In July 2016, Joy Denby-Peterson purchased a Chevrolet Corvette. When she defaulted on one of her car payments a few months later, the Corvette was repossessed by her lender. Denby-Peterson then filed a voluntary petition...more
On December 22, 2018, the federal funding for certain agencies lapsed, and the United States government entered into a partial shutdown. The U.S. Department of Justice (DOJ), including the United States Trustee Program...more
Bankruptcy Judges cannot impose additional local chapter 13 confirmation requirements beyond those created by Congress, according to the Southern District of Illinois (the “District Court”). ...more
Any first-year law student could attest that understanding what the law is can be a difficult task, in part because the law is not always applied consistently by courts. This problem gives rise to a maxim law professors often...more
Bankruptcy courts lack the power to impose serious punitive sanctions, a federal district judge ruled recently in PHH Mortgage Corporation v. Sensenich, 2017 U.S. Dist. LEXIS 207801 (D. Vt. Dec. 18, 2018). Judge Geoffrey...more
A Virginia bankruptcy court recently ruled that an objection to a proof of claim was not barred by the doctrine of res judicata when an order of confirmation was entered prior to the objection being filed. In re Haskins, No....more