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

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Hoffman Estates Bankruptcy Lawyer On Keeping Rights Under Chapter 13

Link Will I lose any of my rights when I file for Chapter 13 is a common question heard by Hoffman Estates bankruptcy lawyer David Siegel. You have the federal right to file Chapter 13 bankruptcy. Chapter 13 bankruptcy is available under Title 11 of

Round Lake Bankruptcy Lawyer On Chapter 13 Disclosure

Link As a Round Lake bankruptcy lawyer, I am asked, “will my employer know that I filed for Chapter 13 Bankruptcy protection?” Your employer does not necessarily have to know that you filed for Chapter 13. However, in many cases it’s a good idea to

Assigning the Unassignable: Creating an AsbestosLiability Trust by Rewriting Contracts

Normally bankruptcy does not expand pre-petition contracts or impose different risks on contracting parties, but it appears that when the courts are firmly convinced of the public good of creating an asbestos trust, insurance contracts at least can

Assigning the Unassignable: Creating an AsbestosLiability Trust by Rewriting Contracts

Normally bankruptcy does not expand pre-petition contracts or impose different risks on contracting parties, but it appears that when the courts are firmly convinced of the public good of creating an asbestos trust, insurance contracts at least can

Assigning the Unassignable: Creating an AsbestosLiability Trust by Rewriting Contracts

Normally bankruptcy does not expand pre-petition contracts or impose different risks on contracting parties, but it appears that when the courts are firmly convinced of the public good of creating an asbestos trust, insurance contracts at least can

Assigning the Unassignable: Creating an AsbestosLiability Trust by Rewriting Contracts

Normally bankruptcy does not expand pre-petition contracts or impose different risks on contracting parties, but it appears that when the courts are firmly convinced of the public good of creating an asbestos trust, insurance contracts at least can

Dealing with a Lawsuit From a Credit Card Company

Being sued for credit card debt makes many consumers nervous about dealing with the situation. The issue becomes more complicated if you’re unsure if the debt is really yours or you can’t afford to pay it. While creditors should be able to provide

Bankruptcy Treatment Of LLC Membership Interests

A debtor’s LLC membership interest is treated differently in state court collection proceedings than it is in bankruptcy. In state court collections a judgment creditor’s remedy to execute a judgment against a multi-member LLC is limited to a

Most Common Questions about Debt Collectors

Dealing with debt collectors can be a challenging process whether or not you owe what they are trying to collect on. Debt collectors may exercise practices that are unfair in order to get debtors to pay. While it’s true they can file a lawsuit for an

The Test No One Discusses in Bankruptcy

By: Marshall G. Reissman Bankruptcy Attorney in St. Petersburg, Florida at The Reissman Law Group, P.A. The test that everyone wants to talk about when they come in for a consultation is the Means Test. Folks generally want to know if they qualify to

The Broke and the Beautiful: Octuplet Edition

This week on The Broke and the Beautiful, “Octomom” Nadya Suleman hatches a Chapter 7 bankruptcy petition, and Sonya Dakar has taken both her skincare company and herself to bankruptcy court. Also this week, the Los Angeles Dodgers sale is complete

A Priming DIP in Québec? Beau Dommage!

We previously reported on Basis Points that the Ontario Court of Appeal unanimously ordered that employer pension contributions required under Ontario’s Pension Benefits Act primed charges securing the company’s DIP financing in Re Indalex Limited

One Plus One . . . Plus One, Equals One: What Constitutes a “Single Project” in the Single Asset Real Estate Context?

In 1994 Congress enacted various real estate-specific provisions of the Bankruptcy Code. These new provisions were applicable to single asset real estate (commonly referred to as “SARE”) cases, as defined in section 101(51B). As part of the 2005

A Warning to Sophisticated Parties in Fraud Cases: Do Your Homework

On March 27, 2012, the Appellate Division, First Department issued its opinion in HSH Nordbank AG v. UBS AG, which reversed the lower court’s denial of a motion to dismiss the fraud claim. HSH Nordbank alleged that UBS induced it to enter a credit

Debtor In Possession: Colorado Pot Grower Files for Bankruptcy

Reuters Whatever its destiny, the future is most certainly hazy for a Colorado pot farm that recently filed for bankruptcy protection. A Denver medical marijuana grower called CGO Enterprise has put its financial problems—and its $130,000 worth of

Reaffirmations and the “Ride-Through” in EDNC

On February 22, 2012, the Court issued the In re: Bowden decision. The Bowden decision will affect the way attorneys and their clients approach reaffirmation agreements in the Eastern District of North Carolina (EDNC). First, a little background

The Daily Docket: Hawker Enters Bankruptcy

Aircraft manufacturer Hawker Beechcraft Inc. sought bankruptcy protection Thursday, after striking a deal with creditors to swap some $2 billion in debt for control of the reorganized company. Read the Daily Bankruptcy Review article via The Wall

Ed DeMarco Is Just Doing His Job

Ed DeMarco must be feeling as popular today as I did back 2004, when as director of OFHEO I faced pressure to accede to the popular sentiment that Fannie Mae could do no wrong.

Fed Policy on Renting Residential REO Points to . . . no near term recovery

A recent policy statement issued by the Federal Reserve “reminds” banks and their examiners that renting residential property, after the bank obtains title, can be part of the bank’s process of returning the property to the market place. The

Myths and Truths About Chapter 7 Bankruptcy: Part II

Myths and Truths About Chapter 7 Bankruptcy: Part II Myth: Debtors can include some creditors in a bankruptcy and leave out other creditors so that some creditors can be discharged while debtors continue to pay other creditors. Truth: Debtors may not