ABI Blog Exchange

Can You Transfer Assets to Family Before Bankruptcy?

If bankruptcy is in your near future, don’t try to move your assets around or transfer them, even to your family. Instead of protecting your assets, such action could have the opposite result, opening your bankruptcy case up to scrutiny and yourself

Supreme Court Nixes Non-Consensual Third-Party Releases

In an opinion that resolves decades of circuit court splits, the Supreme Court ruled against allowing nonconsensual third-party releases. Harrington v. Purdue Pharma, LP, No. 23-124 (6/27/24) which can be found here. While the opinion is emphatic in

Weekly News – July 5

Contributors Speak Up on Purdue Pharma and all the breaking news from the Creditor Rights Coalition ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏

Contributors Speak Up on Purdue Pharma

We are asking our Contributors how the Purdue decision will affect bankruptcies going forward? How will bankruptcy deal with the complexity of tort cases? Will bankruptcy still provide a friendly forum for debtors looking to manage mass torts? How

Means Test Expense Form 122A-2

Get the form The post Means Test Expense Form 122A-2 appeared first on Northern California Bankruptcy Lawyer.

You Forgot to List an Asset During Bankruptcy: Now What?

Leaving assets out of your bankruptcy case, even if it is an honest mistake, could have serious consequences for you and your ability to repay creditors. For example, the court might deny you a debt discharge for not listing assets, meaning you could

Car Accident? Tell Your Lawyer

If you are hurt in a car accident during your chapter 13, tell your bankruptcy lawyer. During the five (or three) years of your Chapter 13, you are required to update the court if you’re injured in a car accident. I don’t see that written in the law

“Texas Two Step”: More Than A Legal Expletive? (Esserman v. Bestwall)

By: Donald L Swanson The phrase “Texas Two-Step,” as used in bankruptcy, is a legal expletive. Regardless of what the details of a Texas Two-Step might be, the phrase has become synonymous with: abusive behavior; bad faith conduct; a means for

Bankruptcy Judge Calls Out Brown Rudnick’s 50% Increase In Hourly Fees

It is expensive to stay in Bankruptcy. Last month a Brown Rudnick lawyer tried to increase his hourly rate from $1,000 per hour to $1,500 per hour. Chief Judge Laurie Selber Silverstein in Delaware rejected the increase, “saying that no client would

North Carolina Bankruptcy Criminal Indictments

North Carolina Bankruptcy Criminal Indictments Ed Boltz Tue, 07/02/2024 - 19:55 Attached are three criminal indictments of bankruptcy debtors in North Carolina, all of which largely relate to undisclosed transfers or transactions after the filing of

Bankr. M.D.N.C.: Robichaux v. Moses Cone Hospital- Motion In Limine regarding Expert Testimony

Bankr. M.D.N.C.: Robichaux v. Moses Cone Hospital- Motion In Limine regarding Expert Testimony Ed Boltz Tue, 07/02/2024 - 19:51 Summary: The defendants sought to preclude the plaintiff from presenting evidence and expert testimony on damages at trial

What Is The Bankruptcy Trustee Looking For

What’s the bankruptcy trustee looking for when you submit your bank statements before the 341 meeting? Let me tell you what the trustee isn’t looking for: trustees don’t care if you bought the premium brand of coffee; paid for your kid’s sports team

A Bankruptcy / Mass Tort Dilemma For Congress To Solve (Johnson & Johnson v. Purdue Pharma)

By: Donald L Swanson Here’s a dilemma: Should bankruptcy be available as a tool for resolving mass tort cases of all types (like it already is in asbestos contexts)? Here’s an illustration of the dilemma: many tort claimants in the Johnson & Johnson

Are There Ways to Prevent a Home Foreclosure in Pennsylvania?

Few situations are more stressful than having your home foreclosed on. If you have been notified of a home foreclosure, contact our firm today to get help stopping it. Home foreclosure is not an overnight process. They often take months before the

SCOTUS: Harrington v. Purdue Pharma- No Third Party Releases in Chapter 11 CONSUMER EDITION

SCOTUS: Harrington v. Purdue Pharma- No Third Party Releases in Chapter 11 CONSUMER EDITION Ed Boltz Mon, 07/01/2024 - 22:29 Summary: Rather than summarize a Chapter 11 case in exhaustive detail that both has little directly to do with consumer

June 2024 Ponzi Scheme Roundup

By Kathy Bazoian Phelps Below is a summary of Ponzi scheme activity reported for June 2024. There were at least 6 new Ponzi schemes revealed this month. Ponzi schemers received more than 23 years of prison sentences and there were 4 guilty pleas. The

Purdue Pharma Plan Blocked, Supreme Court Bars Third-Party Releases in Bankruptcy

How Long Can Tenants Stay in a Foreclosed Property in Pennsylvania?

Owning and managing rental properties in Pennsylvania is a massive responsibility, as you provide housing to tenants who need it. If you are at risk of mortgage foreclosure on a rental property, what happens to your tenants, and how can you protect

Weekly News – June 28

Purdue & Incora knock-out punches, no chicken soup for the soul, Rite Aid plan confirmed, private credit trends and much, much more… ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏

In Purdue Pharma, the Supreme Court Fires a Canon of Construction Through Non-Consensual Third-Party Releases (US)

On June 27, 2024, the Supreme Court ruled in a 5-4 decision that a bankruptcy court does not have the statutory authority to discharge creditors’ claims against a non-debtor without the creditors’ consent (except in asbestos cases). The decision in