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

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National Conference of Bankruptcy Judges

I just got back from NCBJ - Tampa, it was so much fun! I got to hear Supreme Court Justice Elena Kagan speak on Saturday -- one of the most amazing experiences ever. She has a great personality and is...

Pennsylvania's Capital City Files for Bankruptcy

"Seeking to stave off a state takeover of its beleaguered budget, the city of Harrisburg, Pa., filed for a rare Chapter 9 municipal bankruptcy on Wednesday. Harrisburg, the Pennsylvania capital that previously defaulted on its debt, cited a

Palmeiro asks for time to sell Grapevine property in bankruptcy

"Former Texas Rangers star Rafael Palmeiro has asked creditors in his real estate bankruptcy case for five years to sell nearly 200 acres of land in Grapevine near Grapevine Mills mall." Read more here.

Another Win for Goldman

On October 4, 2011, we blogged about the dismissal of a series of lawsuits filed in New York by Goldman Sachs shareholders. We noted that a similar shareholder suit against Goldman Sachs was pending in the Delaware Chancery Court. Last week, that

Another Win for Goldman

On October 4, 2011, we blogged about the dismissal of a series of lawsuits filed in New York by Goldman Sachs shareholders. We noted that a similar shareholder suit against Goldman Sachs was pending in the Delaware Chancery Court. Last week, that

Selecting What Bankruptcy Chapter to File

There are a few different types of bankruptcies that you can file. Each form of bankruptcy has its own qualifications and comes with some benefits and pitfalls. This means that before you even decide to file for bankruptcy you should speak with one

Please Release Me, Let Me Go: Directors’ Protection Under the CCAA Explored

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

Should You Delay Filing Bankruptcy

You should consult with one of our Dallas bankruptcy attorneys or Fort Worth bankruptcy attorneys before you decide to file for bankruptcy and they can help you determine if this is the time to file or if you should wait a while. Some of the valid

Absolute Priority Rule No Longer Applies Under BAPCPA

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The Daily Docket: Lehman Trustee Say RBS Must Pay Up

The trustee winding down the U.S. brokerage business of Lehman Brothers Holdings Inc. says a Royal Bank of Scotland Group PLC affiliate should be forced to pay more than $345 million stemming from old swap agreements, and that non-payment would

Another Win for Goldman

On October 4, 2011, we blogged about the dismissal of a series of lawsuits filed in New York by Goldman Sachs shareholders. We noted that a similar shareholder suit against Goldman Sachs was pending in the Delaware Chancery Court. Last week, that

Another Win for Goldman

On October 4, 2011, we blogged about the dismissal of a series of lawsuits filed in New York by Goldman Sachs shareholders. We noted that a similar shareholder suit against Goldman Sachs was pending in the Delaware Chancery Court. Last week, that

Foreclosure and Stay Relief Denied When Mortgage Lender Cannot Demonstrate Proper Assignment of Mortgage Instruments

As most know, during the years leading up to the real estate crisis mortgage lenders originated individual home loans and then assigned packages of these loans to investors who converted the packages to mortgage securities. The assignment process

Golf Course Loans in Default: Tough Topics When Playing in the Rough

Loans secured by a golf course present some very unique problems when the loan is in distress. At the annual meeting of the American College of Mortgage Attorneys, Nancy Little, Bessie Giannopulos and Robyn Nordin Stowell gave an excellent

Love lost, fire at will

Over at Dealbook, I take a look at the fight among tranche members in the case of a CDO that is in chapter 11 in New Jersey. Yes, that's not suppose to happen . . . which is what makes it so interesting.

Mortgage Modifications in Bankruptcy – Taking Matters Into Our Own Hands

Is there any wonder there is so much discontent in this country? Nationwide, HAMP has been nothing less than a dismal failure for struggling homeowners trying to get some kind of return on the hundreds of billions of dollars dolled out to Wall Street

National Conference of Bankruptcy Judges--10/15/11--A Conversation With Elena Kagan

The National Conference of Bankruptcy Judges concluded with an interview of Supreme Court Justice Elena Kagan by Third Circuit Judge Marjorie Rendell and Bankruptcy Judge Randall Dunn. Justice Kagan was very humble and self-effacing, but was not

National Conference of Bankruptcy Judges--10/15/11--A Conversation With Elena Kagan

The National Conference of Bankruptcy Judges concluded with an interview of Supreme Court Justice Elena Kagan by Third Circuit Judge Marjorie Rendell and Bankruptcy Judge Randall Dunn. Justice Kagan was very humble and self-effacing, but was not

National Conference of Bankruptcy Judges--10/15/11--Mythbusters--Westbrook and Porter Share the Latest Empirical Research

Prof. Jay Westbrook and Prof. Katie Porter presented a delightful tour de force of empirical research titled Mythbusters. They compared ten statements of conventional wisdom to the results of empirical research. As Jay said, “There are all kinds of

National Conference of Bankruptcy Judges--10/14/11--Too Big to Fail

Dr. Thomas Hoenig was the Friday luncheon speaker. He served for twenty-five years as President and CEO of the Federal Reserve Bank of Kansas City. He said that he “wanted to get you on board that Too Big to Fail is bad policy.” He warned that the