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

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Private Student Loan Bankruptcy Fairness Act of 2011

Last year U.S. Representative Steve Cohen of the Ninth District of Tennessee introduced a bill called the Private Student Loan Bankruptcy Fairness Act of 2011. The bill would make private student loans generally dischargeable in bankruptcy. The bill

How to Stop Foreclosure Right This Second

It’s finally happened. You missed a mortgage payment – and you are dreading the moment when you receive notification about foreclosure proceedings being taken against you. You feel like there’s nothing else you can do to get you out of this sticky

Can ING Direct Continue to Thrive Under Cap One?

I remember ING Direct CEO Arkadi Kuhlmann explaining that he hired dancers and artists and other "creative" people. Will ING Direct be worth what Capitol One paid for it when it is run by bankers?

All Tolled, Section 108(c) Preserves a Mortgagee’s Option to Commence a Foreclosure Until After the Automatic Stay is Lifted

By: Matthew W. Silverman St. John’s Law Student American Bankruptcy Institute Law Review Staff In Shamus Holdings, LLC v. LBM Financial, LLC ( In re Shamus Holdings, LLC), [1] the United States Court of Appeals for the First Circuit held that the

Intentional Conduct May Be Required to Prove Defalcation under Section 532(a)(4) In Certain Circuits

By: Elizabeth Vanderlinde St. John’s Law Student American Bankruptcy Institute Law Review Staff The Bankruptcy Court for the Eastern District of Wisconsin in In re Mueller [1] recently concluded that a genuine issue of material fact existed as to

What is a hardship discharge in a chapter 13 bankruptcy case?

The hardship discharge is a great tool in chapter 13 bankruptcies to help debtors get a discharge when they cannot complete the chapter 13 for reasons outside of their control, such as becoming disabled or losing their job. The possibility of a

A Theater By Any Other Name

Bloomberg News This Sunday, the brightest stars in film will don their Marchesa gowns, Harry Winston jewels and Armani tuxes to walk the red carpet at the Hollywood & Highland Center. Wait, where? Hollywood & Highland is the giant Hollywood

Still Standing After All This Time: STN Enterprises Affords Derivative Standing to Creditors’ Committees to Bring Actions on Behalf of the Estate

Most courts today permit creditors (most often through the official committees representing their interests) to seek court approval to bring derivative actions on behalf of a debtor’s estate. Yet, that option is not expressly provided in the

Decision in AE Liquidation, Inc. Allows Preference Complaint to be Amended After the Expiration of the Statute of Limitations

Summary In an 8 page decision signed January 6, 2012, Judge Walrath of the Delaware Bankruptcy Court allowed a plaintiff to amend a preference complaint to include additional transfers, even though the statute of limitations had expired. Judge

Decision in Washington Mutual, Inc. Holds that Litigation Tracking Warrants are Equity Instruments

Summary In a 32 page decision signed January 3, 2012, Judge Walrath of the Delaware Bankruptcy Court ruled that holders of litigation tracking warrants that would be paid out in stock of the debtor were equity instruments, and would be paid out at

Watch them do, The standing still

My latest column for Dealbook looks at the competing narratives regarding Dodd-Frank's OLA in the banking and bankruptcy communities.

What is the Means Test and How Does it Determine Bankruptcy Eligibility?

The means test helps in determining eligibility for Chapter 7 bankruptcy by reviewing personal income. Chapter 7 has specific income requirements that must be met in order to file. If you are determined to be in a higher income bracket, you’ll likely

The Daily Docket: Dodgers Cleared to Advance Bankruptcy Plan

A bankruptcy judge cleared the Los Angeles Dodgers to advance their plan for a new owner to take the ball club out of Chapter 11. Read the Daily Bankruptcy Review article here. Fuller Brush Co., a faded business icon known for its army of door-to

Redemption of Property

When filing for bankruptcy there are a number of options to consider with regard to property. A debtor can choose to surrender property, reaffirm debt, or to redeem the collateral. Each has different advantages and disadvantages. Here we will focus

Quasi-Judicial Immunity Shields Trustee from Personal Liability

By: Barry Z. Bazian St. John’s Law Student American Bankruptcy Institute Law Review Staff In Smith v. Silverman ( In re Smith), [1] the Second Circuit held that a bankruptcy trustee could not be held personally liable for deciding not to pursue the

Protecting Frequent Flyer Miles If You Have to File Consumer Bankruptcy – The Complete Guide

by Craig D. Robins, Esq. Filing for Bankruptcy Usually Has No Effect on Frequent Flyer Miles and Rewards Points Most consumers these days have an assortment of frequent flyer miles and credit card rewards points, whether they earn them from having

Teach Consumer Bankruptcy

It's the time of year when professors, including those who are adjunct professors or are interested in teaching as adjuncts, submit their proposed courses for the next academic year. Many of us teach a general 3 or 4 unit bankruptcy course that uses

Writing off a worthless stock

Did one of your investments totally tank? It may become valuable as a tax break.

Do commodities belong in your portfolio?

Experts are divided about the return potential of commodities, but all agree they are risky.

How much it costs to attend an awards show

Celebs get the royal treatment for awards shows, but what would it cost a regular Jane to go?