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

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Bankruptcy Planning: Overcoming The Presumption Of Abuse Through Allowances

If a debtor earns more than the median income for their state, they must take the bankruptcy means test. The reason the bankruptcy means test was implemented was to prevent abuse of the bankruptcy process. Specifically, the architects of the 2005

Denial Of Bankruptcy Discharge Because Of Hidden Assets

We’ve talked quite a lot about hiding assets in bankruptcy and how doing so can end with the denial of a debtor’s bankruptcy discharge. However, it is important to note that simply hiding assets is not enough to compel the bankruptcy court to deny a

Can Bankruptcy Stop A Residential Tenant Eviction?

About one month ago I received a call from a blog reader about the effect of filing bankruptcy on residential evictions. The caller wanted to know if he could stop an eviction from his rental apartment by filing Chapter 7...

Solar Panel Producer Announces Bankruptcy Plans

Last week, Silicon Valley-based solar company Solyndra laid off more than 1,000 workers and announced plans to file for Chapter 11 bankruptcy. The move made waves in part because the company had appeared promising to many investors: Solyndra

Assignment Without Consent: Caveat Counterparty

NORTH OF THE BORDER UPDATE This article has been contributed to the blog by Steven Golick and Sachin Kanabar. Steven Golick is a partner in the Insolvency and Restructuring Group of Osler Hoskin & Harcourt LLP and Sachin Kanabar is an associate in

The Daily Docket: Lehman Wins Approval of Canary Wharf Deal

A bankruptcy judge signed off on Lehman Brothers Holdings Inc.’s deal to trim $3.7 billion from a claim tied to properties in London’s Canary Wharf financial district. Read the Daily Bankruptcy Review story here in The Wall Street Journal. Bank of

Markham Bankruptcy Lawyer Explains Exemptions: What Property Is Protected?

Link Foremost in many debtors’ minds is that upon filing for bankruptcy relief, they will be divested of everything they own. Not only is this mistaken, it is wrong. Bankruptcy courts don’t seek to leave debtors destitute. In fact, the courts, using

Orland Hills Bankruptcy Attorney States That The Statement Of Financial Affairs Section Is Often Overlooked

Link An important part of the bankruptcy petition and one often overlooked by debtors and attorneys alike is the Statement of Financial Affairs section (SOFA). The first item requests information regarding the last three years of gross income

A/B Note Structure Is Tough: Put These Questions On Your Due Diligence List

The A/B note structure grabbed considerable attention in 2009 when the the Federal Financial Institutions Examination Council (FFIEC) issued it's " Guidance on Prudent Commercial Real Estate Loan Workouts." Recently, the A/B note structure is making

CDS News

I've got a Dealbook post up about an interesting dispute that has cropped up with regard to the definition of "Bankruptcy Credit Event" as used in the ISDA CDS definitions.

Another Appeals Court Circuit Approves Second Mortgage “Stripping,” Even in No-Discharge Chapter 13 Cases

The Bankruptcy Appellate Panel for the federal Eighth Circuit Court of Appeals has added its voice to the other nine circuits that have have ruled in favor of wholly unsecured second mortgage lien stripping in chapter 13. This means that debtors in

Chapter 11 Bankruptcy Venue Reform

This Thursday, the House Judiciary will be holding a hearing on H.R. 2533, which would reform Chapter 11 venue and require corporations (which includes more than true corporations under the Bankruptcy Code) to file in the district in which they are

What it takes to woo an angel investor

To corral angel investors, your company needs a great product. Find out what else angels want.

Where to find fast cash after a disaster

If you need cash fast to meet a high deductible or personal expenses, look to these sources for relief.

9 myths about building better credit

Credit scores are often misunderstood. Learn from these myths about ways to improve your credit.

7 simple ways to improve your credit score

The road to credit gold is straighter than you think. These tips will help you avoid making a wrong turn.

8 ways to save money on wedding gifts

Will your wedding gift make you look like a cheapskate? Not if you follow this advice.

Take cash as needed from reverse mortgage

Managing cash distributions holds down costs because interest is added to the loan balance.

How to beat low-yield bank CD rates

Three tips to help you beat today's uninspiring low rates from bank CDs and earn more.

FICO expert: why your credit scores differ

Is your credit score different from what the lender has? A FICO expert offers a revealing explanation.