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

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Lakelaw Celebrates 25-Year Anniversary!

This month marks the 25th anniversary of Lakelaw! From a tiny office in Steve Simonian’s suite in Waukegan, Illinois, Lakelaw grew to five offices along the shore of Lake Michigan from Chicago to Milwaukee, Wisconsin. Our team of bankruptcy lawyers

“Projected Disposable Income” Means What It Says (In re Packet Construction)

By: Donald L Swanson The opinion is In re Packet Construction, LLC, Case No. 23-10860 in the Western Texas Bankruptcy Court (issued April 30, 2024, Doc. 103). Subchapter V Issue & Ruling Here’s the issue raised by the Subchapter V Trustee’s plan

Weekly News – May 17

Red Lobster on the chopping block, Judge Isgur stepping down, ConvergeOne exclusive opportunism, Diamond Sports behind in the count, cracks in private credit, and much, much more… ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏

Sub V Task Force Report In A Nutshell: Part 3—Compensating Debtor’s Attorney After Debtor Removed From Possession

By: Donald L Swanson On April 23, 2024, the American Bankruptcy Institute’s Subchapter V Task Force issued its Final Report. This article is the third in a series summarizing and condensing the Task Force’s Final Report into “a nutshell.” The subject

US Trustee Investigating Possible Scheme to Take Debtors’ Equity in Real Property in Multiple Cases; Lawyer Sanctioned

In a very detailed 91-page Order entered in the Northern District of Georgia- and adopted by all Judges in the District – Judge Sacca addressed serious concerns of the United States Trustee over the handling of a Chapter 13 case by the Debtor’s

Hazards Of Carelessness In Bankruptcy Fee Agreements (In re Aquilino)

By: Donald L Swanson There is a lesson for all debtor attorneys in the Chapter 7 case of In re Aquilino.[Fn. 1] The moral of the In re Aquilino story is this: a little carelessness in describing and disclosing bankruptcy fees in a Chapter 7 case can

Am I Entitled to Surplus Funds After a NJ Foreclosure?

Introduction If you are a homeowner facing foreclosure, the experience can be very overwhelming and upsetting. There is, however, a little known process that can give you some hope—recovering surplus funds. If your property sells at Sheriff Sale for

Weekly News – May 10

Steward and Sam Ash hit BK, FTX recoveries to the moon, retention battles heat up, Adam Neumann out, Tony Yoseloff speaks up, CRE stress, and much, much more… ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏

Arizona Family Law Issues & Cohabitating Co-Parents

Arizona Family Law Issues & Cohabitating Co-Parents The cost to buy a home or rent an apartment has shot up throughout Arizona in recent years. When two parents want to break up and separate households, it has become more difficult than ever thanks

Gordian President Peter Kaufman Interview with M&A TV

Gordian Group President Peter Kaufman discusses how Gordian's focus on companies and sponsors and its unique niche in the restructuring space being the only investment bank that does not represent financial creditors The post Gordian President Peter

Peter Kaufman on Fox Business News, “Economy Good Enough for Interest Rate Hikes?”

The post Peter Kaufman on Fox Business News, “Economy Good Enough for Interest Rate Hikes?” appeared first on Gordian Group, LLC.

Sub V Task Force Report In A Nutshell: Part 2—Future Rents & Eligibility Calculation

By: Donald L Swanson On April 23, 2024, the American Bankruptcy Institute’s Subchapter V Task Force issued its Final Report. This article is the second in a series summarizing and condensing the Task Force’s Final Report into “a nutshell.” The

How Much Do You Have to Be in Debt to File Chapter 7?

If you find yourself struggling with debt, you may be considering filing for bankruptcy. Bankruptcy can provide a fresh start and the opportunity to rebuild your financial life. But how much debt do you need to have in order to qualify for a Chapter

Subject Matter Jurisdiction: An Assignment For Benefit Of Creditors Requirement (In re Vernon Hills)

By: Donald L Swanson Delaware’s Court of Chancery has no subject matter jurisdiction over an assignment for benefit of creditors proceeding when the debtor/assignor is an Illinois corporation with no assets or operations in Delaware, even when its

SubV Chapter 11 Bankruptcy Debt Limit

The SubV Chapter 11 Bankruptcy Debt Limit Historical Background: Prior to passage of the Cares Act, the debt limit for SubV Chapter 11 cases was $2,725,625. With passage of the Cares Act, the debt limit was raised to $7.5 million thru June 21, 2024

Weekly News – May 3

Featured Content: Opportunities Trading Private Credit & Weekly News: Davis Polk takes top spot in League Tables, J&J Talc Subsidiary BK (again!), BYJU’s is back, and much, much more! ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏

May 3, 2024 Bankruptcy Quiz

Behind as usual this year, I’ll try to get back on track with bi-weekly Bankruptcy Quizzes. This week’s short quiz is all about cash collateral. Click the photo below and enjoy! Click here for prior quizzes. If you enjoyed this post and would like to

The Chapter 13 Trustee Will Have Objections

Let’s schedule a meeting now. We know the Trustee will object. When your Zoom meeting with Thomas Gorman is over, he’ll go back to his desk and send us his objections to our Chapter 13 plan. He always does. Chapter 13 Trustee Thomas Gorman will have

The Chapter 13 Trustee Will Have Objections

Let’s schedule a meeting now. We know the Trustee will object. When your Zoom meeting with Thomas Gorman is over, he’ll go back to his desk and send us his objections to our Chapter 13 plan. He always does. Chapter 13 Trustee Thomas Gorman will have

Groundbreaking decision has been made by the FTC. The FTC issued a final rule banning non-compete agreements for workers.

By: Mary Shahverdian On April 23, 2024, The Federal Trade Commission (“FTC) issued a final rule banning non-compete agreements for workers. The final rule defines a “non-compete” clause or agreement as … The post Groundbreaking decision has been made