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

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Ruling Confirms that Judicial Liens are Dischargeable in Chapter 7

Summary In an opinion issued March 16, 2012, Judge Sontchi of the Delaware Bankruptcy Court ruled that unpaid debts subject to a judicial lien are dischargeable in bankruptcy. Judge Sontchi’s opinion is available here (the “Opinion”). The Opinion

The Broke and the Beautiful: Sports Edition

The Broke and the Beautiful is feeling sporty this week, as the owners of the New York Mats go to bat in a trial related to the Madoff Ponzi scheme. Also, quarterback Michael Vick has paid off most of his debts, and the Spanish government is trying

Debtor Can’t Avoid Judgment Lien That Attached Prior to Homestead Declaration

By: Alyssa Baer St. John’s Law Student American Bankruptcy Institute Law Review Staff In In re Bailey, [1] the United States Bankruptcy Court for the District of Idaho held that Debtors were not entitled to avoid a judicial lien, pursuant to 11 U.S.C

Update: Second Circuit Agrees to Stay of Proceedings Involving SEC and Citigroup

We have been following the proceedings involving the Securities and Exchange Commission’s (“SEC”) proposed settlement with Citigroup. On November 28, 2011, Judge Jed S. Rakoff of the United States District Court for the Southern District of New York

The Challenge of Exclusivity Appeal of Original Equity Owners

By: Michael M. Harary St. John's Law Student American Bankruptcy Institute Law Review Staff In H.G. Roebuck & Son, Inc. v. Alter Communications, Inc., [1] (“ Roebuck”) the United States District Court for the District of Maryland reversed the

Money Market Fund Pricing is Truthful

Money market mutual fund shares price at a dollar on a daily basis because the underlying assets are required to meet very stringent credit quality, liquidity and maturity requirements.

Sleaze Triumphs Over Fairness as Rakoff Rebuked in Citi Case

The appeals court ruling is likely to perpetuate the perverse situation in which banks view SEC legal settlements as a cost of doing business rather than a deterrent for fraud.

Stop Wrestling With Lien Stripping

If there’s a bright spot in the midst of this recession, it’s the thrill bankruptcy lawyers get in stripping mortgage liens from underwater property. Action taken at the depths of home values will benefit clients long into the future if the client

Promoting Integrity in the UCC Article 9 Recording System

On January 1, 2011, Larry files a UCC-1 financing statement against David indicating David's equipment as collateral. At this point, David doesn't even know Larry, has not given him a security interest, and has not authorized this filing. On February

Understanding the Significance of Bankruptcy Fraud

Because bankruptcy is a legal process that is intended to help consumers and businesses deal with the debt they are unable to pay, bankruptcy fraud is considered a federal crime. Being honest and fully disclosing information and details about your

March Madness: With the Play-In Results, We Announce Our Sweet Sixteen

Well, we’re still waiting for an upset in our March Madness competition. The play-in round yielded no surprises, with each of the fourth seeds sending the fifth seeds packing. Perhaps the biggest surprise was how the Marshall case (aka Anna Nicole

Banks with Inside Track Take Advantage of MF Global Mystery

Some banks must know where the missing customer funds are. Otherwise why would they be confident enough to bid as much as 90% of face value for customer claims?

The Daily Docket: Dynegy “Disappointed” by Examiner’s Report

Dynegy defended its actions in transferring assets from its subsidiary to its parent company before bankrupting the subsidiary, a move a bankruptcy examiner blasted last week as fraudulent. Read the story here in Deal Journal. The trustee overseeing

Forest View Bankruptcy Attorney Tells Of Debts Discharged In Chapter 13

Link A Chapter 13 discharge will basically take care of all of your debt that was listed in your bankruptcy case, so states Forest View bankruptcy attorney. For example, if you had a debt owed to child support, you will have completed your plan

Forest View Bankruptcy Attorney Talks Chapter 13 Discharge

Link A Chapter 13 discharge will occur after you have completed all of your required payments under your Chapter 13 plan, states Forest View bankruptcy attorney. Typically, a Chapter 13 plan is going to last anywhere from 3 to 5 years with creditors

Cicero Bankruptcy Attorney On The Difference Between Chapter 13 And Bill Consolidation Advertised On TV.

Link Chapter 13 and bill consolidation that you see on TV do have some similarities according to Cicero bankruptcy attorney. Those similarities include having one place to pay all of your creditors through a trustee or through a debt consolidation

Lower Your Car Payments By Filing Chapter 13 Bankruptcy in Atlanta

How would you feel if someone told you that your car payments could be lowered by a significant amount? You’d probably say: “Get real, why would any car lender allow you to do that?” Guess what, if you let an experienced bankruptcy attorney help you

Homeowners Were Goldman Sachs' Other 'Muppets'

For years, Litton Loan Servicing was open to making a deal with delinquent borrowers. Then Goldman took over.

How to Get Small Businesses Ready to Borrow

For young businesses to succeed, they first need business management tools, networks and coaching. Only after they have these things are they ready to take out loans.

5 costly car dealer options to skip

Some car add-ons are valuable, but these dealer options aren't. Find out why to steer clear.