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

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Stern v. Marshall: Second Circuit Finds Holding "Narrow"

The United States Court of Appeals for the Second Circuit recently weighed in on the scope of the United States Supreme Court’s influential opinion in Stern v. Marshall, 564 U.S. 2 (2011). The case before the Second Circuit, In re Quigley Co. , 2012

Stern v. Marshall: Second Circuit Finds Holding "Narrow"

The United States Court of Appeals for the Second Circuit recently weighed in on the scope of the United States Supreme Court’s influential opinion in Stern v. Marshall, 564 U.S. 2 (2011). The case before the Second Circuit, In re Quigley Co. , 2012

Pay to Play Rules Need Not Keep You Out of the Presidential Game

Misinformation from various sources could cause compliance officers to needlessly prohibit bankers from making perfectly legal campaign contributions. Don't let a false impression chill freedom of speech.

In re Nortel Networks: An Update

Updated from previous post. On April 20, 2012, the Nortel Networks UK Pension Trust Limited (the “Trustee”), as Trustee of Nortel Networks UK Pension Plan, and the Board of the Pension Protection Fund (the “Board,” together with the Trustee, the

In re Nortel Networks: An Update

Updated from previous post. On April 20, 2012, the Nortel Networks UK Pension Trust Limited (the “Trustee”), as Trustee of Nortel Networks UK Pension Plan, and the Board of the Pension Protection Fund (the “Board,” together with the Trustee, the

In re Nortel Networks: An Update

Updated from previous post. On April 20, 2012, the Nortel Networks UK Pension Trust Limited (the “Trustee”), as Trustee of Nortel Networks UK Pension Plan, and the Board of the Pension Protection Fund (the “Board,” together with the Trustee, the

In re Nortel Networks: An Update

Updated from previous post. On April 20, 2012, the Nortel Networks UK Pension Trust Limited (the “Trustee”), as Trustee of Nortel Networks UK Pension Plan, and the Board of the Pension Protection Fund (the “Board,” together with the Trustee, the

OWS, Others File Amicus Briefs in Citi-SEC Saga

We’ve been following the saga of Judge Rakoff’s rejection of the Citigroup-SEC settlement, and the resulting appeal (see Citi’s brief here, and the SEC’s here). Now, others have jumped into the fray. Notably, Occupy Wall Street has requested

“Octomom” Nadya Suleman Files Chapter 7 Bankruptcy

Early this week, Reuters reported that “Octomom” Nadya Suleman filed for Chapter 7 bankruptcy protection in California. Nadya is known as “Octomom” after giving birth to octuplets in 2009. Court documents claim that Suleman has close to $1 million in

The Daily Docket: Catalyst to Auction Assets

Catalyst Paper Corp. will sell its assets to the highest bidder after the paper and pulp producer failed to bring enough of its creditors on board with its restructuring plan. Read the Daily Bankruptcy Review article here. (Daily Bankruptcy Review

Bringing Barton Back: Third Circuit Affirms the Barton Doctrine’s Continued Applicability Despite Changes in Bankruptcy Laws

Does the Barton doctrine, a common law bankruptcy rule requiring a party who wants to sue a court-appointed receiver to obtain leave to sue from the appointing court, still apply, even though bankruptcy law has changed substantially since the

Myths and Truths About Chapter 7 Bankruptcy, Part IV

Myths and Truths About Chapter 7 Bankruptcy, Part IV Myth: A debtor can dismiss a Chapter 7 bankruptcy if the Trustee finds assets. Truth: In a Chapter 7 bankruptcy, it is not possible to voluntarily dismiss your case if the Trustee finds assets

Residency Requirements

When considering filing for bankruptcy there are a number of things to consider. Some of them will be related directly to paperwork, but many of the factors will be life decisions that might not seem related to your bankruptcy on its face. One such

Myths and Truths About Chapter 13 Bankruptcy, Part IV

Myths and Truths About Chapter 13 Bankruptcy, Part IV Myth: If a house is jointly owned and in foreclosure, both parties on the loan must file Chapter 13 bankruptcy in order to save the house from foreclosure. Truth: Both parties on the loan do not

Committee Alleges That the Auditor in the Stanford Financial Ponzi Scheme Did More Than Issue False Financial Statements

We have certainly seen many auditor liability cases recently where the auditor, either in reliance on data from the Ponzi insiders or in cahoots with the insiders, issued false financial statements on which the investors relied. While not quite a

Bankruptcy: Is Your Pride Holding You Back From Getting Help?

Bankruptcy is a terribly hard thing for most people to consider. So is surgery. Oddly many people are more likely to go ahead with a necessary surgery — an invasion of their body — than they are to go see a bankruptcy lawyer. The irony is that the

Residency Requirements

When considering filing for bankruptcy there are a number of things to consider.  Some of them will be related directly to paperwork, but many of the factors will be life decisions that might not seem related to your bankruptcy on its face.  One

Myths and Truths About Chapter 7 Bankruptcy, Part IV

  Myths and Truths About Chapter 7 Bankruptcy, Part IV Myth:  A debtor can dismiss a Chapter 7 bankruptcy if the Trustee finds assets. Truth:  In a Chapter 7 bankruptcy, it is

Myths and Truths About Chapter 13 Bankruptcy, Part IV

  Myths and Truths About Chapter 13 Bankruptcy, Part IV Myth:  If a house is jointly owned and in foreclosure, both parties on the loan must file Chapter 13 bankruptcy in order to save the house from foreclosure. Truth:  Both

Eircom to exit examinership considered to be the largest in Irish corporate history come June 11, 2012

Per http://globalinsolvency.com: Court Backs Eircom Survival Plan Wed., May 23, 2012 A five-year survival scheme for Eircom approved by the High Court Tuesday will see it and related companies exit the State's biggest-ever examinership on June 11th