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Insolvency Service “reframes” view of creditor – IPs can apply their discretion (UK)

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Substantive Consolidation Standards & Their Application (In re Avianca)

By: Donald L Swanson Substantive consolidation of affiliated debtors is an extraordinary remedy that should be exercised with caution. And legal standards governing substantive consolidation should focus on the effects of consolidation on the

Law Review: Gergen, Mark P., Contract Law's Morality and Punitive Debt Enforcement (August 08, 2024).

Law Review: Gergen, Mark P., Contract Law's Morality and Punitive Debt Enforcement (August 08, 2024). Ed Boltz Thu, 11/07/2024 - 04:08 Available at: https://ssrn.com/abstract=4976632 or http://dx.doi.org/10.2139/ssrn.4976632 Abstract: This article

M.D.N.C.: Custer v. Dovenmuehle Mortgage- NC Debt Collection Act Does Not Require Default for Protections to Apply

M.D.N.C.: Custer v. Dovenmuehle Mortgage- NC Debt Collection Act Does Not Require Default for Protections to Apply Ed Boltz Wed, 11/06/2024 - 17:41 Summary: George Custer sued Dovenmuehle Mortgage, Inc. (DMI) on behalf of a proposed class, alleging

Law Review: Steinbaum, Marshall and Jiménez, Dalié and Glater, Jonathan and Fann, Chloe and Morales Sanchez, Axel and Collier, Daniel, Student Loan Borrowers and Pandemic-Era Interventions in California (August 15, 2024).

Law Review: Steinbaum, Marshall and Jiménez, Dalié and Glater, Jonathan and Fann, Chloe and Morales Sanchez, Axel and Collier, Daniel, Student Loan Borrowers and Pandemic-Era Interventions in California (August 15, 2024). Ed Boltz Wed, 11/06/2024 -

Bankr. M.D.N.C.: In re Okeiyi- Immigration Support Affidavits are not Domestic Support Obligations

Bankr. M.D.N.C.: In re Okeiyi- Immigration Support Affidavits are not Domestic Support Obligations Ed Boltz Wed, 11/06/2024 - 17:35 Summary: Asilonu, while residing in Nigeria, became engaged to Okeiyi's daughter. Okeiyi submitted a Petition for

(UK) When Will a s.236 Application Fail?

The powers of investigation afforded to office-holders under s. 236 of the Insolvency Act 1986 are there to enable the court to help an office-holder discover the true facts concerning the affairs of a company, its trading and dealings, to allow the

Bankr. E.D.N.C.: In re Lamb- Burden of Establishing Cram-Down Value lies with the Debtor

Bankr. E.D.N.C.: In re Lamb- Burden of Establishing Cram-Down Value lies with the Debtor Ed Boltz Tue, 11/05/2024 - 15:55 Summary: The bankruptcy court denied the confirmation of the debtors' Chapter 13 plan after objections from NewRez LLC

Bond Requirement In Many ABC Statutes—A Poison Pill

By: Donald L Swanson The common law of assignments for benefit of creditors (“ABC”) has been around for centuries. ABC is a business debtor’s voluntary liquidation tool—typically utilized in cooperation with a major secured creditor. Historically

Student Debt Relief: Nonbankruptcy Hardship Relief for Student Loans under the Higher Education Act

Student Debt Relief: Nonbankruptcy Hardship Relief for Student Loans under the Higher Education Act Ed Boltz Tue, 11/05/2024 - 01:15 Available at: https://www.regulations.gov/document/ED-2023-OPE-0123-32489 Executive Summary: These proposed

Bankr. M.D.N.C.: In re Quevedo- EITC not Exempt as "support payment" & Division of Tax Refund between spouses

Bankr. M.D.N.C.: In re Quevedo- EITC not Exempt as "support payment" & Division of Tax Refund between spouses Ed Boltz Tue, 11/05/2024 - 00:25 Summary: The Bankruptcy Court for the Middle District of North Carolina sustained the objection filed by

How to Repair Your Credit After Bankruptcy: A Guide from Levitt & Slafkes

We understand that facing bankruptcy can feel overwhelming. It is important to remember that bankruptcy is a step along your way to financial freedom. At Levitt & Slafkes, P.C., we believe in empowering our clients with the knowledge they need to

America’s Silent Consumer Debt Crisis

Entering 2025, more and more Americans are falling behind on their bills as consumer debt continues to skyrocket. US households are relying more heavily on credit cards in order to meet basic needs and combat the mounting economic pressures — rising

Weekly News – November 1

Election night in the spotlight, latest recovery trends, 86 the TGIFs, next private credit restructuring, Dish DBS Game of Thrones, and much, much more… Creditor Corner for the week ended November 1, 2024 Your weekly curated content from the Creditor

4th Cir.: Trantham v. Tate- Nonstandard Chapter 13 Bankruptcy Provisions

4th Cir.: Trantham v. Tate- Nonstandard Chapter 13 Bankruptcy Provisions Ed Boltz Sat, 11/02/2024 - 18:51 Summary: The Fourth Circuit Court of Appeals reversed the decisions by the bankruptcy and district court decision that rejected Trantham's

October 2024 Ponzi Scheme Roundup

By Kathy Bazoian Phelps Below is a summary of Ponzi scheme activity reported for October 2024. There were at least 9 new Ponzi schemes revealed this month and 4 guilty pleas. Ponzi schemers received more than 86 years of prison sentences this month

Chapter 7 Debtor’s Appellate Standing To Protect The Homestead Exemption? (In re Karamoussayan)

By: Donald L Swanson Does a Chapter 7 debtor have appellate standing to protect the homestead exemption? That’s an issue addressed (sort of) in Karamoussayan v Massachusetts Department of Revenue (In re Karamoussayan), Case No. 22-041, First Circuit

Genetic Testing Company 23AndMe Expected To Declare Bankruptcy

Genetic Testing Company 23AndMe Expected To Declare Bankruptcy There are certain types of companies that you almost expect to go under with the economy’s current state. Brick-and-mortar retailers and fast casual restaurants seem to be dropping left

Judge Goldblatt Reconsiders What Constitutes “Consent” Post Purdue Pharma (US)

The Supreme Court recently issued its long-awaited decision in Harrington v. Purdue Pharma L.P., 144 S.Ct. 2071 (U.S. 2024) (“ Purdue Pharma”), addressing whether nonconsensual third-party releases are permissible under the Bankruptcy Code. In a 5-4

UKCloud – An Addition to the ‘Avanti’ and ‘Spectrum’ Trilogy on Fixed and Floating Charges

Earlier this year ICC Judge Baister handed down judgment in the case of UKCloud Ltd, building on the decision in Avanti [1] by providing further analysis around the distinction between fixed and floating charges – following a dearth of caselaw on the

Involuntary Bankruptcy: Disputed Claims And Petitioner Eligibility Under § 303(b) (In re ArtiusID)

By: Donald L Swanson The statute for filing an involuntary bankruptcy (§ 303(b)) sets a high bar for petitioner eligibility. Specifically, a creditor cannot qualify as a petitioner under § 303(b), if any portion of that creditor’s claim is subject to