ABI Blog Exchange

Delaware Supreme Court Affirms Ruling Protecting Managers Of Insolvent LLCs

Creditor Derivative Claims Against Fiduciaries Of Insolvent Corporate Entities. In a 2007 decision in North American Catholic Educational Programming, Inc. v. Gheewalla, et al., 930 A.2d 92 (Del. 2007), the Delaware Supreme Court held that directors

Delaware Supreme Court Affirms Ruling Protecting Managers Of Insolvent LLCs

Creditor Derivative Claims Against Fiduciaries Of Insolvent Corporate Entities. In a 2007 decision in North American Catholic Educational Programming, Inc. v. Gheewalla, et al., 930 A.2d 92 (Del. 2007), the Delaware Supreme Court held that directors

Bankruptcy Among College Grads Grows

"Bankruptcy has gotten more educated over the past five years, as financial distress spread to more of the population with college degrees, according to study results released Tuesday." Read more here.

Bujak's estranged wife wants separate bankruptcy

"Former Canyon County Prosecutor John Bujak's estranged wife wants to separate her bankruptcy estate from his, the latest twist in the downfall of the southwestern Idaho Republican's political and personal fortunes." Read more here.

How To Fight Violations Of Bankruptcy’s Automatic Stay

In most cases when a debtor files bankruptcy, creditors stop all actions against them, including lawsuits and garnishments. However, sometimes there are creditors who, either because of ignorance or stubbornness, violate the automatic stay. When that

Top Five Celebrity Bankruptcies

The legal humor blog Bitter Lawyer just came out with their five favorite celebrity bankruptcies of all time. Surprisingly, it’s not the recent slew of athletes, pop stars and “real” housewives who made the list, but real American icons...

Unemployed and Facing Foreclosure, Should I Delay Bankruptcy?

Bankruptcy may not seem to make sense for an unemployed debtor facing foreclosure; but there are a few things you should consider before deciding to delay a filing. Will You Owe After Foreclosure? If your home is worth less than the mortgage then you

FDIC Approves Final Rule Regarding Submission of Resolution Plans: Significant Changes Made in Response to Comments

Recent Development: In April 2011, the Federal Deposit Insurance Corporation (the “FDIC”) published a notice of proposed rulemaking (“Proposed Rule”) to implement the requirements of section 165(d) of the Dodd-Frank Wall Street Reform and Consumer

The Daily Docket: Judge Rejects WaMu Chapter 11 Plan For Second Time

Washington Mutual Inc’s plan to pay more than $7 billion to creditors and exit bankruptcy was rejected for a second time by a judge who ordered the warring parties into mediation. Read the Daily Bankruptcy Review story here. Unsure who will recover

Why No (little) Mention of UCC Foreclosures In Dispute?

Question: so, what is the deal with so little (OK, almost zero) mention of law suits, disputes and muck-rucking involving UCC (personal property) foreclosures and commercial loans? Answer: because a UCC foreclosure sale can be, depending upon the

Prospect Heights Bankruptcy Lawyer’s Case Review

Link Mr. & Mrs. Mahed live in Prospect Heights, Illinois which is located within Cook County. They are considering filing a joint bankruptcy. Their fact situation is as follows: They have 2 minor children. They own 2 properties, with one with one

Judge Mary Walrath Again Denies Confirmation of Washington Mutual's Plan of Reorganization

Cash-out refi to remodel bathroom?

Thinking of refinancing your home? Consider refinancing and cash-out separately.

Couples' cash: managing money and marriage

Money fights are a major reason couples split up. Try these tips to avoid a blowup.

Does paying off credit card hurt your credit score?

Should you put everything on credit, and pay off your credit card monthly?

Nine Dangerous Words: "Show Me Where It Says We Can't Do That"

A rising regulatory focus on unfair, deceptive and abusive acts and practices has made, "show me where it says we can't do that," a very dangerous sentence.

Comeuppance for Harsh Discovery Order?

From: Bankruptcy law discussion list [mailto:BANKR-L@LISTSERV.ILLINOIS.EDU] On Behalf Of Camp, Bryan Sent: Tuesday, September 13, 2011 11:07 AM To: BANKR-L@LISTSERV.ILLINOIS.EDU Subject: Comeuppance for Harsh Discovery Order? Hi all, If y'all recall

Glenview Bankruptcy Attorney Case Study

Link This is the case of Mr. Vega who lives in Glenview, Illinois which is in Cook County, IL. At this moment he is married and filing jointly. He owns his property and has 2 mortgages. He is current on both mortgages, but he is upside down with

Marriage, College, Job Won’t Ward Off Bankruptcy

Associated Press A wedding ring, college degree and a well-paying job: the American dream or a recipe for bankruptcy? Some of the factors often associated with financial success are increasingly becoming correlated with personal bankruptcy filings, a

Governance Survey Questions Current Thinking on Board Composition

The 2011 Corporate Board of Directors Survey from Stanford's Rock Center and Heidrick & Struggles suggests that active CEOs may not make the best board members. We asked Professor David Larcker, corporate governance expert at Stanford, to discuss