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

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DIVORCE & BANKRUPTCY UNTIL DEBT DO US APART!

Most experts agree that financial difficulties rate highly among the leading causes for divorce. Not surprisingly, when couples are dissolving their marriage they will often seek my advice regarding bankruptcy. I often hear from clients who are

DIVORCE & BANKRUPTCY UNTIL DEBT DO US APART!

Most experts agree that financial difficulties rate highly among the leading causes for divorce. Not surprisingly, when couples are dissolving their marriage they will often seek my advice regarding bankruptcy. I often hear from clients who are

DIVORCE & BANKRUPTCY UNTIL DEBT DO US APART!

Most experts agree that financial difficulties rate highly among the leading causes for divorce. Not surprisingly, when couples are dissolving their marriage they will often seek my advice regarding bankruptcy. I often hear from clients who are

U.S. Supreme Court to Hear Argument on Credit Bid Case

On April 23, 2012, the United States Supreme Court is scheduled to hear oral argument in RadLAX Gateway Hotel v. Amalgamated Bank, Case No. 11-166. At issue is the interpretation of 11 U.S.C. § 1129(b)(2)(A) and whether a debtor can prevent a secured

U.S. Supreme Court to Hear Argument on Credit Bid Case

On April 23, 2012, the United States Supreme Court is scheduled to hear oral argument in RadLAX Gateway Hotel v. Amalgamated Bank, Case No. 11-166. At issue is the interpretation of 11 U.S.C. § 1129(b)(2)(A) and whether a debtor can prevent a secured

U.S. Supreme Court to Hear Argument on Credit Bid Case

On April 23, 2012, the United States Supreme Court is scheduled to hear oral argument in RadLAX Gateway Hotel v. Amalgamated Bank, Case No. 11-166. At issue is the interpretation of 11 U.S.C. § 1129(b)(2)(A) and whether a debtor can prevent a secured

Is That Legal? — 7 Illegal Habits of Highly Unscrupulous Debt Collectors

When I meet with someone to discuss bankruptcy alternatives, a topic that keeps coming up over and over is the abusive tactics of debt collectors. Almost every person I meet with has experienced collection phone calls that break at least one, if not

Top Senate Democrat Joins the Push for Student Loan Bankruptcy Discharge

According to the Washington Post, earlier this week Senate Majority Whip Richard J. Durbin (D-Ill) called for rules to be changed regarding educational debt being discharged in bankruptcy. At a judiciary hearing Durbin addressed what consumer groups


7th Circuit: Bankruptcy Code Doesn't Override the "In Pari Delicto" Defense

Peterson v. McGladry & Pullen, LLP, 2012 WL 1088274 (7th Cir. April 3, 2012) ( pdf ), is an important new case from the 7th Circuit addressing the ability (or better, inability) of a bankruptcy trustee to overcome the " in pari delicto" defense on


7th Circuit: Bankruptcy Code Doesn't Override the "In Pari Delicto" Defense

Peterson v. McGladry & Pullen, LLP, 2012 WL 1088274 (7th Cir. April 3, 2012) ( pdf ), is an important new case from the 7th Circuit addressing the ability (or better, inability) of a bankruptcy trustee to overcome the " in pari delicto" defense on

JOBS Act to Allow Hedge Fund Advertising

Several media outlets reported last week concerning Congress’s passage of the JOBS Act ( the Jump Start Our Business Startups Act). The JOBS Act, which has passed both the House and Senate (as of March 27, 2012), is expected to be signed into law by

Safari Park: Butterfly Jungle Tweet-Up

To celebrate the opening of the annual, month-long Butterfly Jungle event, the Safari Park had planned to host a special preview exclusive to Twitter followers with cool insect experiences and a private stroll amongst the butterflies. However

Postpetition Employment at Prepetition Rates? One Court Says, “Not Necessarily.”

In In re Ellipso, Inc., the United States Bankruptcy Court for the District of Columbia recently held that, although an employee’s postpetition services may give rise to an administrative expense claim, the amount of such claim must be limited to the

The Daily Docket: JeffCo Seeks to Halt Lawsuit

Jefferson County, Ala., is worried that it could be exposed to another multimillion-dollar debt on a lawsuit with Wall Street bond insurers. Read the Daily Bankruptcy Review article via The Wall Street Journal. Urban radio station owner Inner City

When Dischargeable Bankruptcy Debts Can’t Be Eliminated

When you file to have your debts discharged under a Chapter 7 bankruptcy, you might expect things to be approached in a straightforward manner. After all, once your bankruptcy attorney has filed for a Chapter 7 bankruptcy, it only takes a few months

Problem: Principal Write-Down or Principle Write-Down?

In late March, there was an analysis and recommendations in the American Banker which comprised the most succinct commentary on the current mortgage/foreclosure Bank-Owned real-estate problem and how to begin to solve it. I went through the Maryland

Problem: Principal Write-Down or Principle Write-Down?

In late March, there was an analysis and recommendations in the American Banker which comprised the most succinct commentary on the current mortgage/foreclosure Bank-Owned real-estate problem and how to begin to solve it. I went through the Maryland

Problem: Principal Write-Down or Principle Write-Down?

In late March, there was an analysis and recommendations in the American Banker which comprised the most succinct commentary on the current mortgage/foreclosure Bank-Owned real-estate problem and how to begin to solve it. I went through the Maryland

Cash: Killing It, or Building Bridges to It?

Much has been written about the inherent riskiness of cash. It is dangerous because it can be lost, stolen, eaten, destroyed, etc. It is dangerous because it is difficult to track, thereby helping to facilitate crime. Many a potboiler plot hinges on

Client's Plan To Combine Bankruptcy And Subsequent Asset Protection

A husband and wife consulted with me about a pre-bankruptcy plan. They jointly owned a homestead which had equity. They maintained individual bank accounts and other financial assets. They had over $150k of joint unsecured debt. They wanted to start