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

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Chapter 12 Bankruptcy is Like Chapter 13 on Steroids!

I have been filing Chapter 13 and Chapter 7 bankruptcy cases in the upstate New York for over 20 years. Due to the many financial difficulties dairy farmers have been having over the past few years, I started filing more Chapter 12 farm bankruptcies

Marketing $25 Billion AG Settlement to Consumers is Key to Getting Money

Our local AG's office just held a meeting for people who serve homeowners in foreclosure, to explain what the settlement means to consumers. In this blog, I share what I learned. Homeowners in each state that is a part of the settlement (sorry

Stopping a Utility Disconnection with Bankruptcy

While Chapter 7 bankruptcy can help you eliminate unsecured debt, it may also help you keep your utilities from getting disconnected. In most cases, bankruptcy will prevent utilities such as electric, water, phone and gas from being shut-off. The

More Credit Union Business Lending Would Boost Economy

Even though credit unions are the ideal lenders for the smallest of the small businesses they are limited in the amount of business loans they can extend to their members because of an arbitrary cap.

Running of the Brides Reincarnation?

European Pressphoto Agency Brides running to get to the racks of wedding dresses at the annual Filene’s Basement Running of the Bride’s event in Miami in May 2011. Hope is on the horizon for Filene’s Basement’s Running of the Brides event. Brides-to

You Could Be Stuck With Your Surrendered Home After A Bankruptcy

It’s happening all across the country. Folks have unaffordable mortgages on homes with no equity, so they surrendered the home, filed bankruptcy, and moved on. The Notice of Intent in Bankruptcy said they are surrendering. What more is needed? In

3rd Circuit Decides “Police Power” Exception to Automatic Stay Applies Only in Limited Circumstances

The Third Circuit Court of Appeals recently handed down its decision in In re Nortel Networks, Inc. , No. 11-1895, 2011 U.S. App. LEXIS 25929 (3d. Cir. Dec. 29, 2011), where it clarified the exception to the automatic stay under 11 U.S.C. § 362(d)(4)

German Provisions on Subordination of Shareholder Loans Apply to Foreign Companies

The Federal Court of Justice ruled that the provisions of section 39 (1) no. 5 in conjunction with (4) and (5) German Insolvency Act, according to which all loans provided by a shareholder to a corporation (Kapitalgesellschaft) are subordinated, must

Cross-border Insolvency: German Insolvency Administrators and Their Rights under English Law

The High Court of England and Wales recently confirmed that courts have an inherent common law jurisdiction to permit the statutory power under the English Insolvency Act 1986 (“Act”) to be applied to foreign insolvency administrators not falling

2nd Circuit Holds “Mandatory Abstention” Appropriate Under Section 1334(c)(2)

The Second Circuit Court of Appeals recently issued an opinion on mandatory abstention in Parmalat Capital Fin. Ltd. v. Bank of Am., Corp. , No. 09-4302, 2012 U.S. App. LEXIS 3391 (2d Cir. Feb. 21, 2012), where the Court explained the factors to be

2nd Circuit Holds “Mandatory Abstention” Appropriate Under Section 1334(c)(2)

The Second Circuit Court of Appeals recently issued an opinion on mandatory abstention in Parmalat Capital Fin. Ltd. v. Bank of Am., Corp. , No. 09-4302, 2012 U.S. App. LEXIS 3391 (2d Cir. Feb. 21, 2012), where the Court explained the factors to be

Cross-border Insolvency: German Insolvency Administrators and Their Rights under English Law

The High Court of England and Wales recently confirmed that courts have an inherent common law jurisdiction to permit the statutory power under the English Insolvency Act 1986 (“Act”) to be applied to foreign insolvency administrators not falling

German Provisions on Subordination of Shareholder Loans Apply to Foreign Companies

The Federal Court of Justice ruled that the provisions of section 39 (1) no. 5 in conjunction with (4) and (5) German Insolvency Act, according to which all loans provided by a shareholder to a corporation (Kapitalgesellschaft) are subordinated, must

German Provisions on Subordination of Shareholder Loans Apply to Foreign Companies

The Federal Court of Justice ruled that the provisions of section 39 (1) no. 5 in conjunction with (4) and (5) German Insolvency Act, according to which all loans provided by a shareholder to a corporation (Kapitalgesellschaft) are subordinated, must

2nd Circuit Holds “Mandatory Abstention” Appropriate Under Section 1334(c)(2)

The Second Circuit Court of Appeals recently issued an opinion on mandatory abstention in Parmalat Capital Fin. Ltd. v. Bank of Am., Corp. , No. 09-4302, 2012 U.S. App. LEXIS 3391 (2d Cir. Feb. 21, 2012), where the Court explained the factors to be

3rd Circuit Decides “Police Power” Exception to Automatic Stay Applies Only in Limited Circumstances

Click here for updated post. The Third Circuit Court of Appeals recently handed down its decision in In re Nortel Networks, Inc. , No. 11-1895, 2011 U.S. App. LEXIS 25929 (3d. Cir. Dec. 29, 2011), where it clarified the exception to the automatic

Trustee Brings FBI, Accounting Experience to Solyndra Probe

Bloomberg News Two days after failed solar-power company Solyndra filed for Chapter 11 bankruptcy protection, its California headquarters became the site for a surprise raid by the Federal Bureau of Investigation. So when Solyndra’s directors wanted

How NOT to Recover From a Dallas Bankruptcy

When it comes to recovering from a Dallas personal bankruptcy, you may think you have all your proverbial ducks lined up in a row. You know that you’ll need to make faithful repayments on any and all debts you accumulate after your bankruptcy. You

9th Circuit BAP Rules that an Undersecured Creditor’s Right to Recover from a Non-Debtor Source is Grounds for Separate Classification of its Claim Under Section 1122

Section 1122 of the Bankruptcy Code provides that “a plan may place a claim or an interest in a particular class only if such claim or interest is substantially similar to other claims or interests of such class.” In cases where the debtor’s

Changing Horses in Mid Stream: Avoiding a Forced Liquidation by Converting from BIA Proposal Proceedings to CCAA Proceedings

NORTH OF THE BORDER UPDATE This article has been contributed to the blog by Andrea Lockhart and Steven Golick. Steven Golick is a partner in the insolvency and restructuring group of Osler, Hoskin & Harcourt, LLP, and Andrea Lockhart is an associate