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

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Divorced But Still Responsible for Your Former Spouse’s Mortgage? Good News, If You’re Looking for a New Home

It’s common for a divorce decree to award the marital home to one spouse or the other, with the spouse who is keeping the home being ordered to continue the mortgage payments until the mortgage is fully paid. However, this raises the question of

Bankruptcy Requirement - Where's All Your Documents?

Bankruptcy requires more than just signing papers and you’re headed out the door. It‘s hardly like that at all. When we present the list of documents required to our clients, I can never stress enough how important these documents are and how

9th Circuit BAP Decision Gives Debtors Greater Leverage in Single Asset Real Estate Cases

By: Regina Stango Kelbon and Claire P. Edwards Regina StangoKelbon Claire P. Edwards A recent decision in a single asset real estate case has real estate lenders watching the outcome of its appeal. The issue addressed by the Ninth Circuit Bankruptcy

Seventh Circuit Joins Other Circuits in Applying the In Pari Delicto Defense to Bankruptcy Trustees

In a recent decision, the Seventh Circuit joined the Third, [1] Tenth [2] and Eleventh [3] Circuits in ruling that the doctrine of in pari delicto applies to bankruptcy trustees seeking to recover from third parties who provided pre-petition services

'Disparate Impact': Regulators Need a Lesson in Statistics

Federal agencies' failure to recognize a fundamental statistical concept results in encouraging lenders to take actions that make them more likely targets for litigation.

Regulatory Uncertainty Prevents Meaningful Housing Recovery

Recent delays by the CFPB and Treasury point toward a systemic policy malaise that threatens to make the housing recovery a decade-long event.

Philadelphia Orchestra Makes Music in China

By William Kazer Courtesy of the Philadelphia Orchestra Association Archives Legendary Philadelphia Orchestra conductor Eugene Ormandy at the Great Wall of China in 1973. The Philadelphia Orchestra is back in China for an encore—with a bit of a

Are Bankruptcy Attorneys Steering Towards Chapter 13 Cases for Higher Fees?

I recently reviewed an article that questions whether bankruptcy attorneys steer their clients into chapter 13 cases when the clients may be better served by a chapter 7 case. I am not here to question the statistical methodology used by any of the

Dewey & LeBoeuf LLP Law Firm Files Bankruptcy

The New York based law firm Dewey & LeBoeuf LLP filed for Chapter 11 bankruptcy protection this week. Dewey is known as one of the largest law firms in the United States but in recent years the ailing law firm lost nearly 300 partners and became

Banking vs. Shopping Online: Five Retailer Strategies to Copy

Banks must be selective of the practices they borrow from online retailers. Survey says: customers want to get in and get out and they hold banks to higher standards.

Edge of Reason: Paripassupalooza on Capitol Hill

Like the rest of us, the U.S. Congress cannot wait until the Second Circuit argument on pari passu, now scheduled for June 20th. Unlike the rest of us, the U.S. Congress can do something about it -- and it is. This Thursday, the House Financial

Supreme Court Upholds Right to Credit Bid in Cramdowns

In what Justice Scalia termed “an easy case,” the United States Supreme Court has ruled 8-0 that a debtor cannot strip a secured creditor’s right to credit bid under 11 U.S.C. § 1129(b)(2)(A)(ii). RadLAX Gateway Hotel, LLC, et al. v. Amalgamated Bank

Supreme Court Upholds Right to Credit Bid in Cramdowns

In what Justice Scalia termed “an easy case,” the United States Supreme Court has ruled 8-0 that a debtor cannot strip a secured creditor’s right to credit bid under 11 U.S.C. § 1129(b)(2)(A)(ii). RadLAX Gateway Hotel, LLC, et al. v. Amalgamated Bank

Supreme Court Upholds Right to Credit Bid in Cramdowns

In what Justice Scalia termed “an easy case,” the United States Supreme Court has ruled 8-0 that a debtor cannot strip a secured creditor’s right to credit bid under 11 U.S.C. § 1129(b)(2)(A)(ii). RadLAX Gateway Hotel, LLC, et al. v. Amalgamated Bank

Supreme Court Upholds Right to Credit Bid in Cramdowns

In what Justice Scalia termed “an easy case,” the United States Supreme Court has ruled 8-0 that a debtor cannot strip a secured creditor’s right to credit bid under 11 U.S.C. § 1129(b)(2)(A)(ii). RadLAX Gateway Hotel, LLC, et al. v. Amalgamated Bank

Former NFL Star Jamal Lewis Files Bankruptcy

Jamal Lewis, former running back for the Baltimore Ravens, filed for Chapter 11 bankruptcy protection in Atlanta, Georgia. The former NFL star helped the Ravens win the Super Bowl in 2001. Documents filed pertaining to his case claim he’s unable to

New Mortgage Plan For Massachusetts Consumers

Massachusetts bankruptcy clients often ask us if we can help them to get a lender to refinance their homes. They say that if they can discharge their credit card debts, and refinance their mortgages, they would be fine, financially. We can get most

STEPPING INTO THE EMPLOYEES’ SHOES: Third Party Benefit Providers Entitled to Super Priority Secured Claim for Unpaid Remittances Owed by Employer

NORTH OF THE BORDER UPDATE This article has been contributed to the blog by Steven Golick and Patrick Riesterer. Steven Golick is a partner in the insolvency and restructuring group of Osler, Hoskin & Harcourt LLP, and Patrick Riesterer is an

Freddie Mac Announces Lower Modification Interest Rate

New loan modification interest rates for borrowers who don’t qualify for the Obama Home Affordability Modification Program (HAMP). Freddie Mac Announces Lower Modification Interest Rate.

Temporary Bankruptcy Judgeships Reauthorized

This month, Congress finally passed the Temporary Bankruptcy Judgeship Extension Act of 2011 (H.R. 1021 and S. 1821) (the “Extension Act”) and on May 25, 2012, President Obama signed the Extension Act into law. The law will go into effect on November