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

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Volcker Fails to Address Objections to 'His' Rule

What the former Fed chairman does not tell us, because he cannot, is the name of a single bank that went under and required taxpayer support because of proprietary trading gone bad.

Third Circuit Holds Post-petition Pension Fund Withdrawals Liability Is Entitled to Administrative Expense Priority Under Sectio

By: Brian Bergin St. John’s Law Student American Bankruptcy Institute Law Review Staff In a case of first impression, In re Marcal Paper Mills, Inc., [1] the Third Circuit prorated the debtor’s pension fund withdrawal liability and gave

What’s Holding You Back From Filing For Bankruptcy?

You’re getting squeezed by your debtors. There’s not an hour that goes by when you don’t receive harassing phone calls from collections agencies. Every time you open your mailbox, you’re met by a cascade of final demands and urgent notice letters

What Is a Bankruptcy Trustee and What Is Their Purpose?

During Chapter 7 or Chapter 13 bankruptcy proceedings a trustee is appointed by the federal government to oversee the case. In most cases, a bankruptcy attorney or accountant will serve as the trustee. The trustee plays an important role during the

Guggenheim, Other Funds Divulge Stakes in Global Aviation Debt

A group of hedge funds and investment firms calling itself the ad hoc committee of senior noteholders divulged their stakes Global Aviation Holdings Inc.’s debt. Bankruptcy law requires investors to publicly disclose their identities and their

Kodak Dumps the Oscar Theater, Proving that Contract Rejection is like No Fault Divorce: There is No Defense

Just under a month ago, Eastman Kodak filed for chapter 11 and now it is doing what many chapter 11 debtors do, trying to decide which of its contractual obligations it’ll honor and which it won’t. Back in 2000, Kodak signed a $74 million deal to get

Says the Ninth Circuit, That Argument Isn’t Going to Get You Out of This Single Asset Real Estate Case

Debtors can often craft arguments that will enable them to bring their “plans” to fruition. At times, however, a debtor is left empty handed by a determination in its case that may interfere with its overarching restructuring strategy. While debtors

Dodgers Bidders Prepare to Round Second Base

Associated Press Dodger Stadium A second round of bidding is under way for the Los Angeles Dodgers, the Los Angeles Times reported Wednesday. Citing “multiple people familiar with the sale process,” the Times says the 11 bidders who made it through

Aiding and Abetting Claims Against Banks in Ponzi Cases Are Alive and Well

Just when it seemed that courts were dismissing most claims for aiding and abetting against banks in Ponzi cases, a jury verdict of $67 million came down against the bank used by the infamous Ponzi schemer, Scott Rothstein. In Coquina Inv. v. TD Bank

Welcome to the Ponzi Blog!

As the publication of The Ponzi Book approaches next month, decisions in Ponzi scheme cases continue to roll out on a nearly daily basis. The Ponzi Book covers the waterfront and is the single legal resource that attorneys and others involved in

DOES A SECURED CREDITOR HAVE A RIGHT TO CREDIT BID IN A SALE CONDUCTED UNDER A PLAN? STAY TUNED AS THE SUPREME COURT HAS GRANTED CERTIORARI TO DECIDE THE ISSUE

Regina StangoKelbon Rocco Cavaliere A secured creditor’s right to credit bid its secured claims in a Chapter 11 plan context is one of the hottest topics in bankruptcy law at this time. This topic has been addressed in three recent Circuit Court

Tax Refunds in Washington and Oregon

The applicable state bankruptcy exemptions will likely determine whether you will be able to file bankruptcy and keep a potential 2011 tax refund. If the Oregon exemptions apply, you may find yourself handing over everything but the Earned Income

There Must Be a Better Way to Comply with the Volcker Rule

Perversely, the proposed compliance framework presumes that a banking entity has violated the Volcker Rule unless the entity can prove otherwise.

Post-Bankruptcy, Friendly’s Restaurants Shifts Focus

In October, Friendly’s restaurants filed for bankruptcy protection, closing about 100 of its 500 locations scattered along and slightly inland of the East Coast. Now emerged from bankruptcy court, sources note that the restaurant has shifted its

Why the Co-lender Train Wreck? Lenders Used Wrong Agreement

Train wrecks draw a crowd. Look at this old film from the 1913 California State Fair (click the text). 1913 Train Wreck Unfortunately, many co-lender structures (secured by distressed commercial real estate) look exactly like this train wreck. Why

The Daily Docket: Kodak Can Keep Borrowing On Loan

A judge on Wednesday said Eastman Kodak Co. could continue borrowing on its $950 million bankruptcy loan from Citigroup Inc., after satisfying several parties’ concerns with it. Read the Daily Bankruptcy Review article here. The distressed-debt

Reaffirmation

When filing for bankruptcy debtors are faced with a number of important decisions. Throughout bankruptcy a debtor has the option to surrender property, even property that still has a loan balance. Through bankruptcy a debtor is able to surrender

Libertyville Bankruptcy Attorney On Chapter 13 Filing

Link Chapter 13 is a great way to save a home states Libertyville bankruptcy attorney. Chapter 13 allows you to pay back the part that you fell behind on your mortgage over the next 3 to 5 years. You get 3 to 5 years to repay the part that you fell

There Are 2 Common Chapters For Individuals Claims Palatine Bankruptcy Lawyer

Link If you are someone who is struggling financially, help is available. If you have been going from year to year or month to month or week to week, struggling financially to make ends meet and you just don’t know where to turn, please don’t give up

Finding The Right Palatine Bankruptcy Lawyer

Link I strongly suggest if you are considering either a Chapter 7 or a Chapter 13 bankruptcy that you seek an experienced Palatine bankruptcy lawyer in your local area. There are many attorneys who can help you file either a Chapter 7 or a Chapter 13