ABI Blog Exchange

Bankruptcy Beat Snapshot: Brian Resnick

Partner at Davis Polk & Wardwell LLP. Graduate of Columbia Law School. Performed on “Saturday Night Live” with Tina Fey and Rudy Giuliani. That’s just the start of long and unusual résumé that led Brian Resnick from playing on Broadway to becoming

Borders’ Bankruptcy: Reorganization to Liquidation

The Borders bankruptcy case currently making headlines provides a helpful illustration of the difference between the two main forms of bankruptcy, reorganization and liquidation. Here’s a look at what we can learn about personal bankruptcy from the

FSB Issues Recommendations on Global Resolution Planning

On July 19, 2011, the Financial Stability Board (“FSB”), an organization comprised of governmental and other financial authorities from around the world, including the SEC, Federal Reserve and Dept. of Treasury for the U.S., issued its “Consultative

The Daily Docket: W.R. Grace Lenders Push For $1 Billion-Plus Payout

W.R. Grace & Co. lenders say a Philadelphia federal judge risks setting up a clash with the New York courts if he lets the specialty-chemical company exit bankruptcy without handing over an additional $140 million to them. Read the Daily Bankruptcy

Bankruptcy Courts Cannot Deny Discharge On A Whim

One of the biggest fears that debtors have is that they will be denied a bankruptcy discharge. But in most cases this fear isn’t based on reality; but on a misunderstanding of how bankruptcy law actually works. Bankruptcy courts do not have the right

Cicero Bankruptcy Lawyer Explains Chapter 13 Debt Relief

Link Chapter 13, bill consolidation through the court is similar to the bill consolidation that you see on TV, but the big difference is that this has a lot of strength just like Chapter 7 has a lot of strength. There are two basic ways that we see

Bankruptcy Delay Tactics That Can Destroy Retirement Prospects

It’s an unfortunate reality of our current economy, but many workers over 40 are finding that their debt load is seriously interfering with their ability to either save for retirement or to maintain the savings they have already accumulated. Many

Trapped in the Closet Chapter 7 or 13?

Robert Sylvester Kelly, better known as R & B singer R. Kelly, is facing foreclosure on his home in Olympia Fields, Illinois. J.P. Morgan Chase Bank filed the $2.9 million foreclosure suit against R. Kelly last month. It appears...

Filing Bankruptcy After 60? Steps You Can Take To Handle Nondischargeable Debt

More than forty-five years have passed since Title IV of the Higher Education Act which authorizes the government to issue federal student loans was passed in 1965. Many students who took advantage of the student loan program then and in the years

Want to Improve Rents & Occupancy at Apartments & Student Housing? One word: Technology

In the movie The Graduate (1967), Ben learns that one word ( “plastics”) is the pathway for a successful career. Today, for distressed investments or for quality apartments (including apartments pointed to students as tenants), the pathway to higher

Crest Hill Bankruptcy Lawyer Illustrates Workers Compensation Exemptions

Link Workers compensation money is 100% protected if it is strictly a work injury. There is one exception here and that is for a third-party claim. A third party claim is when you can sue a manufacturer of equipment or somebody else. Let’s say for

Can I Raise MY Debt Ceiling? Should I?

While Congress and the White House debate raising the debt ceiling of the nation, many of us just plain citizens wonder if we too should borrow more money to get through our hard times. The questions we need to ask are… can we borrow more? … and

Books-A-Million, Inc. Announces That It Will Not Acquire Borders' Stores

Where Does Bankruptcy Law Come From? Part 3 – Federal Rules of Procedure

As outlined in earlier segments of this series, bankruptcy law primarily comes from federal and state laws. But critical parts also are based on rules written by the court system itself. The laws that Congress enact are typically broad definitions of

7 negotiating tips for distressed sellers

When events in your life force you to sell your home quickly, don't despair. You have options.

Bankrupt, underwater and want to refinance

Bankruptcy can help you keep your home, but securing a better mortgage won't be easy.

ARM, hybrid or fixed-rate loan?

Home loans have many variables; rates are only one. Learn the ins and outs before choosing.

5 must-haves for a fab first home

The price is just one thing to ponder. These other homebuying points are critical, too.

Should renters carry a liability umbrella?

When it rains it pours, and umbrella liability insurance can help you weather the lawsuit storm.

Pay off mortgage with IRA funds?

Although you're more than 59½ years old, you still have to pay income tax on the withdrawal.