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

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Consumer Debt Rose $21 Billion Last Month Thanks to Credit Card Use

The total amount of consumer credit circulating in the United States rose by more than $21 billion last month, raising concerns that more people will begin filing for bankruptcy, according to a recent report from the Wall Street Journal. The

Impose Position Limits on Jamie Dimon

Long-Term Capital Management and AIG owned the markets that did them in. Who besides Jamie will sign for the proposition that JPMorgan Chase actually has a "fortress balance sheet"?

U.S. Bank's Overdraft Fee Hike: Unfair, But Not Deceptive

The announcement is surprising as it follows so soon after hefty penalties were assessed against many other banks for their overdraft programs.

What should I do when I inherit something during or after my chapter 7 bankruptcy case?

Filed under: Bankruptcy Filing, Inheritance Tagged: Bankruptcy Filing, inheritance

Save the American Community Survey

The Credit Slips blog always has tried to offer perspectives from many different social sciences. That is why many readers may be distressed to learn of the attack on the American Community Survey (ACS). If you do not do a lot of social science work

If My Co-Signer Files Bankruptcy Does their Filing Affect Me?

The bankruptcy process may seem challenging depending on personal circumstances and which chapter is filed. It is often wondered what happens when a co-signer files for bankruptcy protection. In many cases, a co-signer situation makes both parties

First Lesson from JPM Debacle: Keep Board Focus Tight

The JPM unpleasantness reinforces the hard lessons of the financial crisis, which are that a sound financial system depends on targeted regulation, "fortress" balance sheets and rigorous governance.

Stern v. Marshall: The Texas Cases

This is a paper that I did for the Austin Bar Association summarizing the Texas cases applying Stern v. Marshall to date. Please note that where the holding is indented, I am directly quoting the opinion. I also used the following key for

Is Help On the Way for Investors Defrauded in Ponzi Schemes?

Posted by Kathy Bazoian Phelps The quest of defrauded investors in Ponzi schemes to be made whole is ongoing. To recover their funds in the resulting bankruptcy and receivership cases of the Ponzi debtor, investors file proofs of claim to seek

Québec Court: DIP Lender Has Priority over Pension Plan Deficit

NORTH OF THE BORDER UPDATE This article has been contributed by Martin Desrosiers , Sandra Abitan and Julien Morissette . Martin Desrosiers and Sandra Abitan are partners in the insolvency and restructuring group of Osler, Hoskin & Harcourt LLP, and

Why Should There be a Social Stigma Against Filing for Bankruptcy?

Carmen Dellutri, one of my Bankruptcy Law Network colleagues from Florida, featured a post on his blog, the Florida Bankruptcy Lawyer Blog, by associate Joe LoTempio last month that really resonated with me, as it gets to the emotional heart of many

Thou All-destroying But Unconquering Whale

A few quick thoughts and suggested readings on Chase's ever expanding losses from the Whale Trade. First, if you have not been reading Lisa Pollack's Alphaville posts on this topic you really must. Next, Krugman makes the obvious but also vital point

GMAC Holding Co. Files For Chapter 11 Despite Listing $ 1B In Assets

NEW YORK - (Mealey's) GMAC-RFC Holding Co. LLC filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York on May 14 despite listing more than $ 1 billion in assets (In Re: GMAC-RFC Holding Company LLC, No. 12

Do I Need a Lawyer to Create a Separation Agreement?

Having an attorney assist you in creating a separation agreement is optional. Some states may not require a separation agreement be created. Having legal assistance may depend on your financial situation. Some couples opt to create an agreement on

The Daily Docket: Publisher Houghton Mifflin Files for Bankruptcy

Houghton Mifflin Harcourt Publishing Co. filed for Chapter 11 bankruptcy protection Monday after striking a deal with its creditors to slash more than $3 billion in debt off its balance sheets. Read the Daily Bankruptcy Review story here. (Daily

Arcapita's Chapter 11 Proceedings: Matters Scheduled to be Heard on May 31, 2012

According to the Arcapita Bank B.S.C. Case Administration Website, the next scheduled hearing in Arcapita's chapter 11 proceedings has been scheduled for May 31, 2012. For a list of matters scheduled to be heard, see below. For more information about

Bankruptcy Issues In Florida Domestic Partnerships

I was reading post on a Florida domestic partnership law blog which brought to mind the fact that I have represented several bankruptcy debtors who are part of same-sex couples. These debtors typically are living together in some form of...

Stern v. Marshall: The Texas Cases

This is a paper that I did for the Austin Bar Association summarizing the Texas cases applying Stern v. Marshall to date. Please note that where the holding is indented, I am directly quoting the opinion. I also used the following key for

Cheap Affordable Southern California Chapter 7 Bankruptcies – Too Good to Be True?

I recently saw an online advertisement for chapter 7 bankruptcy services by an attorney offering to do the work for rock bottom pricing. The attorney’s website failed to clearly indicate specific office address locations and made no mention of any

Can I Strip off a Second Mortgage in Chapter 7? Now you Can!

By: Marshall G. Reissman, Attorney at the Reissman Law Group, P.A. The 11th Circuit Court of Appeals recently held that debtors in Chapter 7 bankruptcy have the ability to strip off their second mortgage on their homestead property if the first