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

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Section 329: Bankruptcy Courts Have Exclusive Jurisdiction Over Attorneys’ Fees in Bankruptcy Proceedings

By: Samantha M. Tusa St. John’s Law Student American Bankruptcy Institute Law Review Staff The Bankruptcy Court for the Eastern District of Michigan held, in In re Piccinini [1], that bankruptcy courts have exclusive jurisdiction over attorneys’ fees

How Credit Can Beat Prepaid Cards: Instant Gratification

To understand why prepaid cards sell, focus on how they're sold: off the shelf, at a convenient store, just like groceries and other consumables.

Has the Absolute Priority Rule Died For Individual Chapter 11 Cases?

People typically think “LA Dodgers Bankruptcy” or “Lehman Brothers” or “General Motors Bankruptcy” when hearing the term Chapter 11 bankruptcy. But Chapter 11 bankruptcy also applies to people, individuals who are sole proprietors or wage earners

Bankruptcy Judges Confront Impending Shortage

Getty Images Bankruptcy judges’ workloads are heavier than ever, and they could become even more burdensome in the coming years. It’s a future that could be avoided if a temporary judgeship program previously authorized by Congress is extended

Update: $25 Billion Mortgage Servicing Settlement Approved by Court

We previously posted (see here and here) regarding the $25 billion settlement entered into between the Justice Department, 49 state attorneys general and the nation’s five largest mortgage servicers. Last week, Judge Rosemary Collyer, of the United

Rejected! Bankruptcy Court Denies Debtors’ Attempt to Reject Lease While Property Still Occupied by Sublessee

In a decision not-so-friendly for chapter 11 debtor Friendly Ice Cream Corporation, Judge Gross of the Bankruptcy Court for the District of Delaware determined, in In re Amicus Wind Down Corp., that a debtor may not reject a lease of nonresidential

Get a lien off your property after bankruptcy

If a no-good roofer put a lien on your property, removing it will take time and cash.

Fifth Circuit Tackles Judicial Estoppel Yet Again Resulting in a Split Decision

Failure to schedule causes of action appears to be an endemic problem as shown by the fact that the Fifth Circuit has been asked to apply judicial estoppel to a bankruptcy case once again. However, the latest decision, Love v. Tyson Foods, Inc., No

Tenth Circuit BAP Approves Award of Attorneys Fees to Debtor’s Counsel Who Was Not Retained (Initially) by the Debt

The Tenth Circuit BAP recently entered an opinion affirming the bankruptcy court’s order awarding fees to debtor’s special litigation counsel in an unusual context—in which the special counsel was never retained pursuant to sec. 328. The opinion is

SPECIAL FEATURE: What Happens When You Lose a Debt Lawsuit?

A credit card company or creditor may sue when payments on an account are no longer being paid. Winning a lawsuit against a credit card company or creditor may seem slim if evidence is provided to the judge showing you owe the debt. While losing a

The Daily Docket: Treatment Center Struggles to Survive

Daytop Village, which filed for Chapter 11 bankruptcy with some 660 “hard-core” drug addicts living in its New York treatment facilities, is facing a fight with lenders over whether it deserves a shot at survival. Read the Daily Bankruptcy Review

Three Costly Emotions That Keep You In Debt

Emotions, not reasons, keep people from filing bankruptcy and starting fresh. My fellow bankruptcy lawyer Jay Fleischman has it backwards when he says that for his clients, the decision to file is “purely emotional”. Emotions stand between debtors

Bankruptcy Attorneys Advice For People Who Cannot File Personal Bankruptcy

Some people are ineligible for Chapter 7 based upon their income and cannot file Chapter 13 because they have debts above the Chapter 13 ceilings. Many other people are advised by a bankruptcy attorney not to file bankruptcy because they...

Lease Reviews & Surveillance: “Green” Lease Provisions in “Green” Buildings

Back in December of ’10, I gave you a list of lease provisions that are crafted to address topics unique to “green” buildings. Here’s another version or update on the list: insurance provisions annual environmental performance report (access to space

Should I File Bankruptcy If I'm Facing Vehicle Repossession?

If you are unable to make your car payments, your lender may have threatened you with vehicle repossession or taken steps to repossess your vehicle. You may be considering filing bankruptcy in order to avoid repossession. In some cases, this is the

What implications will bankruptcy have on my credit score?

How your credit will be effected by filing for bankruptcy depends on your situation prior to filing. Credit is calculated using five factors: your payment history, the amounts you owe, the length of your credit history, the amount of new credit you

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Bankruptcy - Chapter 7 "A Fresh Start for an Honest Debtor"

Bankruptcy is an essential component of a capitalistic society. The alternative to a Bankruptcy Code is a Debtor’s Prison. In 1833 our Country abolished federal imprisonment for unpaid debts. Further, without a Bankruptcy Code coupled with other

Credit Score Repair After Short Sale, Foreclosure, And Bankruptcy

One of my new bankruptcy clients is a credit manager with Bank of America. After discussing his situation and starting his bankruptcy I took the opportunity to ask him how a bankruptcy debtor best establishes good credit after bankruptcy. I...

4 money mistakes of first-time homebuyers

A quartet of common financial blunders can make it more difficult -- and expensive -- to buy a first home.