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

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Celebrity Chef With Prior Legal Troubles Puts Restaurants in Chapter 11

David Ruggerio, a former Food Network host and the owner of several Manhattan restaurants, put two of his restaurants in Chapter 11 bankruptcy protection last week. The adjacent properties on the Upper West Side, Jalapeño and Bomboloni, were both

Rothstein Trustee Sues Miami Heat, Florida Panthers

Associated Press Scott Rothstein The Miami Heat and Florida Panthers are ready to rumble…in bankruptcy court. The Florida teams are among the dozens of enterprises that had the misfortune of receiving money from Scott Rothstein’s Florida law firm

Handling Home Equity Default After Bankruptcy

Many homeowners in bankruptcy have underwater mortgages along with home equity lines of credit (HELOCs) which may be dischargeable. But what happens if after exiting bankruptcy a debtor fails to pay his/her HELOC? Let’s take a look at a few facts

Retirement Accounts and Bankruptcy

People who are in a financial situation where bankruptcy is a possible solution should learn the facts about how their retirement funds will be treated. Knowing how your retirement accounts will be treated in a bankruptcy may be all the information

Third Circuit Addresses What Happens When Fraud Results in Two First Priority Liens on the Same Assets

In Merrill Lynch Business Financial Services, Inc. v. Kupperman, the Third Circuit discussed the order of priority between two secured lenders, each of which, as the result of fraud, held a first-priority lien on substantially the same assets. In

Have We Gone Down the Wrong Path in Bank Regulation Reform?

The policy focus should be how to ensure no single financial institution becomes a single point of systemic failure - not how to mitigate the fallout when such an entity fails.

Outstanding Student Loans Exceed $1 Trillion

With students needing a college education and workers seeking retraining both hoping to land a decent job, the amount of student loans taken out last year passed $100 billion for the first time last year and total outstanding loans...

What is a Bankruptcy 341 Meeting?

If you file for bankruptcy you can expect to attend what’s called a 341 meeting. This meeting gives both the person filing for bankruptcy and the creditors a chance to get together and speak with the bankruptcy trustee about the debts that are owed

Gurnee Bankruptcy Attorney Often Hears, “What If I Don’t Have All My Information For Filing Bankruptcy?”

Link The truth is most debtors have all the information that they need to provide to their attorney or they can readily ascertain that information. For example, a lot of creditors throw out bills from creditors, and they throw out the collection

The Daily Docket: Potential Buyers Eyeing Solyndra Assets

Solyndra LLC is talking to some 25 potential buyers of its solar panel manufacturing business as it limps along under fire from Republicans in Congress over $527 million in federal loans, company officials said Tuesday. Read the Daily Bankruptcy

Federal Reserve’s Report on Incentive Compensation Practices – A Progress Report?

The Federal Reserve recently released a report detailing its horizontal review of incentive compensation practices at 25 large banking organizations. The findings and recommendations are expressed in highly general terms, and set forth the Fed’s

Federal Reserve’s Report on Incentive Compensation Practices – A Progress Report?

The Federal Reserve recently released a report detailing its horizontal review of incentive compensation practices at 25 large banking organizations. The findings and recommendations are expressed in highly general terms, and set forth the Fed’s

Federal Reserve’s Report on Incentive Compensation Practices – A Progress Report?

The Federal Reserve recently released a report detailing its horizontal review of incentive compensation practices at 25 large banking organizations. The findings and recommendations are expressed in highly general terms, and set forth the Fed’s

Federal Reserve’s Report on Incentive Compensation Practices – A Progress Report?

The Federal Reserve recently released a report detailing its horizontal review of incentive compensation practices at 25 large banking organizations. The findings and recommendations are expressed in highly general terms, and set forth the Fed’s

The Three Year Rule for Getting Rid of Income Taxes in Bankruptcy

Everyone knows that you can’t discharge income taxes in bankruptcy. Right? No, not right at all. This misconception about bankruptcy law illustrates just why you shouldn’t substitute cocktail party gossip for the advice of a good lawyer. Especially

Nemo Dat Trumps Bona Fide Purchaser

The Massachusetts Supreme Judicial Court just handed down a second major mortgage foreclosure ruling, Bevilacqua v. Rodriguez. The case was an Ibanez follow-up dealing with the rights of a purchaser at an invalid foreclosure sale. I thought this was

The Sweep-It-Under-the-Rug Housing Plan

There is $700 billion in negative equity in the US. That is the critical figure. Any housing plan that doesn’t take a serious bite out of that $700 billion isn’t worth discussing. It’s just window dressing. And that’s exactly what the latest

New York Bankruptcy Means Test Figures Change November 1, 2011

by Craig D. Robins, Esq. New Bankruptcy Means Test Criteria Going Into Effect November 1, 2011 Will Make It Harder for Some New York Consumers to Qualify for Chapter 7 The state median income figures that you need to use for the means test change

Tax breaks for homeowners

Owning a home offers lots of benefits, including ways to reduce your tax bill.

Mortgage refinance taxing with 401(k)

If you refinance a home with a 401(k), tax issues might arise, depending on how it's done.