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

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(UK) Should we all be a bit more relaxed about procedural hiccups in notices appointing administrators?

As practitioners we pour over notices of intention to appoint (NOIA) and notices of appointment of administrators (NOA) to make sure every detail is accurate. Why? Because no one wants to risk an invalid appointment because there was a minor mistake

Who Cares About Your Spending Before Bankruptcy?

Worried about using credit cards before bankruptcy? Afraid of prejudicing your bankruptcy case by spending money before you file? Do you imagine some authority figure deciding that your financial behavior in the run up to bankrupcy bars you from

4th Cir.: David v. King- Former Trustee Has No Authority to Act Following Conversion, Including to Seek Compensation for Professionals

4th Cir.: David v. King- Former Trustee Has No Authority to Act Following Conversion, Including to Seek Compensation for Professionals Ed Boltz Tue, 07/30/2024 - 17:19 Summary: Byron David filed for Chapter 7 bankruptcy in July 2018, with Donald King

E.D.N.C.: Walker v. LVNV-Iqbal/Twombley Do Not Apply to Affirmative Defenses

E.D.N.C.: Walker v. LVNV-Iqbal/Twombley Do Not Apply to Affirmative Defenses Ed Boltz Tue, 07/30/2024 - 17:03 Summary: Walker moved pursuant to Federal Rule of Civil Procedure 12(f) to strike the affirmative defenses raised by LVNV, arguing that the

Rise And Fall of Sears: An Illustration Of Risks That Every Successful Business Faces

By Donald L. Swanson Here’s an under-appreciated fact: businesses (every one of them) face every-day risks that can destroy them. The rise and fall of the retailer, Sears, provides an illustration of the reality of such risks and how those risks

Weekly News – July 26

AMC, AMC, AMC! Legal fees killin’ BK (still), SDNY is its own worse enemy, more retail restructuring, Congress takes on the Texas Two-Step, and much, much more… ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏

Celsius Bankruptcy Claw Back Adversary Proceedings in SDNY Bankruptcy Court

Celsius Bankruptcy Claw Back Adversary Proceedings in SDNY Bankruptcy Court Celsius Network LLC, the crypto company, filed for Chapter 11 bankruptcy. Pursuant to their confirmed Chapter 11 plan, they have commenced 2,000 adversary proceedings in the

Can You Buy Stock During Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is used by individuals under extreme financial burdens to pay off their debts. Because Chapter 7 bankruptcy liquidates your assets to pay off those debts, buying stock during this time might be difficult. When you file for

How Often Can You File Bankruptcy?

It sometimes becomes necessary to file bankruptcy more than once. As an experienced bankruptcy attorney will tell you, while unfortunate, it is not rare. The need to refile often occurs as the result of unexpected circumstances, such as a job loss or

What Does “As The Court May Fix” Mean In Subchapter V? (In re Urgent Care & In re Trinity)

By: Donald L Swanson 11 U.S.C. § 1191(c)(2) provides (emphasis added): “(c) . . . the condition that a plan be fair and equitable . . . includes . . . (2) . . . all of the projected disposable income of the debtor to be received in the 3-year period

Commercial Chapter 11 Bankruptcies see a 34% increase in the first half of 2024

Commercial Chapter 11 Bankruptcies see a 34% increase in the first half of 2024. See https://www.conchovalleyhomepage.com/news/national-news/commercial-chap… Jim Shenwick, Esq 917 363

Bankruptcy Court Applies First-of-Its-Kind Valuation Method to Estimate Cryptocurrency Claims (US)

The bankruptcy court presiding over the FTX Trading bankruptcy last month issued a memorandum opinion addressing valuation of cryptocurrency-based claims and how to “calculate a reasonable discount to be applied to the Petition Date market price” for

Applying “Intent” Standard For Denying A Discharge Under § 727(a)(2) (Wylie v. Miller)

By: Donald L Swanson Under 11 U.S.C. § 727(a)(2), an individual debtor may be denied a discharge, in its entirely, for making a transfer “with intent to hinder, delay, or defraud” a creditor or the trustee. On April 17, 2023, the Bankruptcy Court for

Dual Victories: Lakelaw Wins 2 Important Court Cases in 1 Day

A Day of Historic Wins We knew we had a great day at the Lakelaw office when our friends and fellow attorneys were congratulating us on our back-to-back victories. So we thought we should tell our friends about it, too. Bankruptcy Court Case Win #1

Law Review: Lois R. Lupica & Zach Neumann, Thwarting the Inevitability of Over-Indebtedness, 40 Emory Bankr. Dev. J. 155 (2024).

Law Review: Lois R. Lupica & Zach Neumann, Thwarting the Inevitability of Over-Indebtedness, 40 Emory Bankr. Dev. J. 155 (2024). Ed Boltz Mon, 07/22/2024 - 19:01 Available at: https://scholarlycommons.law.emory.edu/ebdj/vol40/iss2/1 Abstract: This

Law Review: Ishaq Kundawala, Access to Justice: A Roadmap to Creating and Launching Consumer Bankruptcy Experiential Programs in Law Schools, 40 EMORY BANKR. DEV. J. 411 (2024).

Law Review: Ishaq Kundawala, Access to Justice: A Roadmap to Creating and Launching Consumer Bankruptcy Experiential Programs in Law Schools, 40 EMORY BANKR. DEV. J. 411 (2024). Ed Boltz Mon, 07/22/2024 - 18:53 Available at: https://scholarlycommons

Law Review (Economics): Bruze, Gustaf and Hilsløv, Alexander and Maibom, Jonas, The Long-Run Effects of Individual Debt Relief. IZA Discussion Paper No. 17047

Law Review (Economics): Bruze, Gustaf and Hilsløv, Alexander and Maibom, Jonas, The Long-Run Effects of Individual Debt Relief. IZA Discussion Paper No. 17047 Stafford Patterson Mon, 07/22/2024 - 18:45 Available at: https://docs.iza.org/dp17047.pdf

What is Considered “Hiding Assets” in a Pennsylvania Bankruptcy Case?

Before filing for bankruptcy, some people might move assets or transfer them to a family member. However, this practice is illegal and will be considered as hiding assets in a bankruptcy case. Individuals in Pennsylvania must give a full accounting

Weekly News – July 19

“kinder, gentler LMEs”, head-scratcher in Texas Two-Step case, Welcome to the Jungle Alfredo! Hawaiian Electric side-steps BK, League Tables and much, much more… ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏

How to Prove That Asset Declarations Are Truthful in Bankruptcy

When someone files for bankruptcy, the court needs to know what kind of accounts, assets, and other holdings they might have. This information is important as courts need to know if someone is eligible for bankruptcy based on their assets or if they