ABI Blog Exchange

Judge Limits Mets Owners’ Liability in Madoff Litigation

Judge Rakoff issued a decision last week in the billion dollar case brought by the Madoff Trustee, Irving Picard, against the New York Mets owners, Saul Katz and Fred Wilpon. The decision, interpreting the intersection of bankruptcy and securities

Rudins Close on Purchase of St. Vincent’s Campus

Rudin Management The Rudin family, a New York real-estate dynasty, announced Monday that they closed on their $260 million purchase of St. Vincent’s Hospital’s main Manhattan campus. The Rudins acquired the property from the closed hospital’s Chapter

Supreme Court Preview: No Blockbusters Scheduled Yet

Today is the first Tuesday in October which marks the start of the Supreme Court's October Term 2011. So far the Court has granted cert in forty-eight cases, only one of which involves bankruptcy. There are a few interesting petitions pending but no

Everybody got a reservation

Over at Dealbook, I explore the parallels between the Penn Central bankruptcy case of the 1970s and the chapter 11 cases arrising out of the financial crisis, like Lehman and WaMu.

Hidden Liens Report

Posted by: "Curt Harrington" Sat Oct 1, 2011 1:24 pm (PDT) "I'd been waiting for this for a long time and they have finally gotten around to publishing it, and it was entered on the Business Section website with so...

Chapter 11 Bankruptcy For Individuals: What To Expect in a Dallas Bankruptcy Court

When it comes to filing for a Chapter 11 bankruptcy, there’s no denying that it helps to have an experienced Dallas bankruptcy attorney by your side. After all, the process is long, complex and full of hurdles – so if you want to successfully

"Means test" standards vs. actual expenses

It sounds like a cliché, but here at Shenwick & Associates, every bankruptcy case really is different. Every debtor has their own unique story of how they got into debt, what type and amount of debt they have, their living conditions and many other

You Just Got Sued–What Should You Do?

So far this morning, I’ve gotten two calls from clients who received suit papers over the weekend. Credit card companies (or the debt buyers who bought the accounts) have filed civil suits in state court, seeking a judgment for the amount owed. One

Bankruptcy Glossary: The Bankruptcy “Estate”

A person or company’s bankruptcy “estate” is composed of all legal or equitable “interests in property” at the time of the bankruptcy filing – even if the property is owned or held by another person. When a person or company files bankruptcy in

NYT: The Case for Hiring a Lawyer

By JOSEPH PLAMBECKFirst-time buyers in New York City confront a series of choices: co-op or condo, high-rise or walk-up, a second bathroom or just steps from the subway? But there seems to be consensus on at least one decision — whether to hire a

Redeeming Your Property after Bankruptcy

One common mistake is believing that a bankruptcy will erase all of your debts and you’ll be left with all the stuff you purchased free and clear. This is part of the reason people have bad feelings about people who file bankruptcy and it’s totally

No Money To File Bankruptcy!

Bankruptcy is rising but filings are falling! Why? Simple answer: People do not have money to file for protection under the Bankruptcy Code. That may sound/read like an "Of course they cannot afford bankruptcy, they don't have any money!"

No Money To File Bankruptcy!

Bankruptcy is rising but filings are falling! Why? Simple answer: People do not have money to file for protection under the Bankruptcy Code. That may sound/read like an "Of course they cannot afford bankruptcy, they don't have any money!"

No Money To File Bankruptcy!

Bankruptcy is rising but filings are falling! Why? Simple answer: People do not have money to file for protection under the Bankruptcy Code. That may sound/read like an "Of course they cannot afford bankruptcy, they don't have any money!"

The Daily Docket: Kodak Hires Restructuring Lawyers

Eastman Kodak Co. has hired Jones Day as restructuring attorneys, The Wall Street Journal reports. The 131-year-old company is tackling investor worries but says it doesn’t intend to file for bankruptcy. Once slated for liquidation, Corus Bankshares

Personal Property May Apply to Homestead Exemption

A panel of the 8th U.S. Circuit Court of Appeals has ruled the homestead exemption applies to proceeds from personal property sold with a debtor’s house unless the money was segregated from the sale or was used to pay off...

Right to convert from chapter 13 to chapter 7

In a recent case decided by the 9th circuit (In re Defrantz), the court ruled that the debtor has an absolute right to convert his chapter 13 case to a chapter 7 case. The creditor argued that the court should have considered the creditor's motion to

Lansing Bankruptcy Lawyer On Can The Chapter 13 Trustee Make Me Pay My Plan Payments Out Of My Paycheck?

Link The answer is yes. In certain circumstances the Chapter 13 trustee can demand that payroll control be entered in your case. This is not the normal. This would be the exception to the rule. The general rule is that you can make plan payments

AbitibiBowater Claims & Preference Action Update

Zero in on zero-coupon CD risks

Invest in these CDs to meet long-term goals. In the short term, you risk losing yield.