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

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6th Circuit B.A.P.: Michigan's bankruptcy-specific exemption statute is unconstitutional.

In re Schafer, 6th Cir. B.A.P., Feb. 17, 2011 (2011 WL 534752, authored by Hon. Marci B. McIvor). Under the Bankruptcy Code, debtors may choose between the federal exemptions listed in 11 U.S.C. § 522(d) or exemptions available under state law

Delaware Court Declines to Pull Airgas Poison Pill

Here’s the Davis Polk memo we released today concerning the Chancery Court’s refusal to order dismantling of the Airgas poison pill. What’s instructive about the case, I think, is not that it creates new law (it doesn't) but that it underscores the

Delaware Court Declines to Pull Airgas Poison Pill

Here’s the Davis Polk memo we released today concerning the Chancery Court’s refusal to order dismantling of the Airgas poison pill. What’s instructive about the case, I think, is not that it creates new law (it doesn't) but that it underscores the

Delaware Court Declines to Pull Airgas Poison Pill

Here’s the Davis Polk memo we released today concerning the Chancery Court’s refusal to order dismantling of the Airgas poison pill. What’s instructive about the case, I think, is not that it creates new law (it doesn't) but that it underscores the

Delaware Court Declines to Pull Airgas Poison Pill

Here’s the Davis Polk memo we released today concerning the Chancery Court’s refusal to order dismantling of the Airgas poison pill. What’s instructive about the case, I think, is not that it creates new law (it doesn't) but that it underscores the

Delaware Court Enjoins Merger Vote and Deal Protections in Del Monte Buyout

Here’s our newsflash on the Chancery Court’s much publicized opinion enjoining the Del Monte buyout vote and deal protections due to alleged financial advisor conflicts and misconduct. Even though Vice Chancellor Laster found that the board appeared

Delaware Court Enjoins Merger Vote and Deal Protections in Del Monte Buyout

Here’s our newsflash on the Chancery Court’s much publicized opinion enjoining the Del Monte buyout vote and deal protections due to alleged financial advisor conflicts and misconduct. Even though Vice Chancellor Laster found that the board appeared

Delaware Court Enjoins Merger Vote and Deal Protections in Del Monte Buyout

Here’s our newsflash on the Chancery Court’s much publicized opinion enjoining the Del Monte buyout vote and deal protections due to alleged financial advisor conflicts and misconduct. Even though Vice Chancellor Laster found that the board appeared

Delaware Court Enjoins Merger Vote and Deal Protections in Del Monte Buyout

Here’s our newsflash on the Chancery Court’s much publicized opinion enjoining the Del Monte buyout vote and deal protections due to alleged financial advisor conflicts and misconduct. Even though Vice Chancellor Laster found that the board appeared

(Don’t) Return to Sender: Defects in Credit Default Swap Notices

Despite their best efforts, buyers of single-name credit default swaps still sometimes make technical errors when notifying their counterparties of “credit events” 1 or other grounds upon which to terminate their contracts. Details required to be

TOUSA Fraudulent Conveyance Judgment Reversed by District Court

In a 113 page opinion, U.S. District Judge Alan S. Gold has reversed a controversial fraudulent conveyance judgment in the TOUSA bankruptcy case. In re TOUSA, Inc., Case No. 10-60017 (S.D. Fl. 2/11/11). You can find the opinion here. A Series of

Meet the Mess, Cont'd -- Former Governor Cuomo Asked to Mediate Madoff Trustee's Lawsuit Against Mets Owners

Judge Burton Lifland, the bankruptcy judge overseeing the liquidation proceedings of Bernard L. Madoff Investment Securities LLC (“BLMIS”) made a shrewd decision last week in appointing, on his own initiative, former Governor Mario Cuomo to act as

TOUSA Reversed: Victory for the Capital Markets and Rescue Financings

In a 113-page decision issued on February 11 (the “ District Court Decision”), the United States District Court for the Southern District of Florida (Gold, J.) delivered a blistering rebuke to the Florida Bankruptcy Court (Olson, J.) when it quashed

The Ballad of the Homeowners: or Death of the American Dream

I hear this muffled refrain more and more these days. We bought our homes at prices within our monthly budgets. We saved so we could put money down. We’ve regularly paid our mortgages, month-in and month-out. We have struggled through job loss and

After Bankruptcy, Credit Clean Up Service Can Really Help

Houston U.S. Courthouse where Bankruptcy Hearings and Meetings Occur As part of our bankruptcy services, after either a Chapter 7 or Chapter 13 case is discharged and completed, we help our clients get their credit cleaned up, at no additional charge

Where have all the flowers gone? Nurseries in Financial Distress

Have you noticed that many nurseries are either out of business or in bankruptcy? This isn’t a local problem. In fact, independent nurseries have been going out of business all over the country during this economic downturn. This trend can be


Court to Lenders: Strict Compliance with Local Recording Requirements Necessary

A decision out of the District Court for the Middle District of North Carolina (the “ District Court”), now being appealed to the Fourth Circuit Court of Appeals, highlights just how critical it is for lenders to strictly comply with local recording

Record 2.9 million Foreclosures; Investors Want Money

There were two "complimentary" articles yesterday - one in American Banker, entitled " MBS Trustees Push JPMorgan Chase for Access to Loan Files", the other from RealtyTrac's Agent Advocate newsletter announcing, "Record 2.9 million U.S. Properties

How to Settle Debt?

Here is a terrific guest post from Fred at www.settlementdebtattorney.com Debt is serious problem for many Americans. From credit card to student loans it seems almost everybody is affected by debt. Some people choose not to answer their phone when

State Law Determines Alter Ego Liability for Federal Tax Liens

By: Edmund Witter St. John's Law Student American Bankruptcy Institute Law Review Staff Recently, in Old West Annuity and Life Ins. Co. v. Apollo Group, [1] the Eleventh Circuit held state law determined whether a court could pierce the corporate