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

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Cliff White Speaks Up on Needed Bankruptcy Reforms

Recent Ethics Controversy Highlights Needed Bankruptcy Reforms By Clifford J. White III 1 The Chief Judge of the United States Court of Appeals for the Fifth Circuit filed a complaint last Friday against a noted bankruptcy judge that has created

Absolute Priority Rule And U.S. Supreme Court — A Refresher (Ahlers & 203 North LaSalle)

By: Donald L Swanson The absolute priority rule [Fn. 1] has been a problem for businesses in bankruptcy—for a very long time! The rule dates back to at least 1899, when the U.S. Supreme Court prevents certain shareholder actions “until the interests

Enforcing A Mediated Settlement Agreement When Debtor Backs Out (In re Legarde)

By: Donald L Swanson The opinion is In re Legarde, Case No. 22-12184, Eastern Pennsylvania Bankruptcy Court (issued September 14, 2023; Doc. 112). Facts Debtor claims Creditor raped her. Then, Debtor posts stuff about Creditor on the internet. So

How Bankruptcy Law Can Protect You from Home Title Theft

Tax Foreclosure: A Far Too Common Reality How many times have you heard the story about the elderly homeowner who lost their house because someone paid their delinquent taxes for a small sum of money – far less than the value of the home that they

Weekly News – October 6

Sponsor blacklists back We want to hear from you Let us know what you think Union-on-Union Violence?? SDTX Bankruptcy Court in the News Getting double-primed! Exclusive Content Find it here Celsius coming to an end One man’s trash… is another man’s

Cryptocurrency Brings Disruption to Bankruptcy Courts—What Parties Can Expect and the Open Issues Still To Be Resolved (Part One)

Many authorities and commentators have considered cryptocurrencies, and the blockchains that undergird them, as a potentially disruptive force in the financial industry. Now, that disruption has made its way to a different side of finance—bankruptcy

How Much Will Your Chapter 13 Plan Payment Be?

Facing significant debt can be a frightening and overwhelming experience. Chapter 13 bankruptcy gives individuals who have a regular income the opportunity to reorganize their debts and repay them with a structured bankruptcy plan. A common question

Do You Need to Complete Debt Relief Before for Filing Bankruptcy in Pennsylvania?

Before you can file for bankruptcy in Pennsylvania, there a few things you must do. So, will your pre-bankruptcy checklist include completing debt relief? Completing debt relief is not mandatory before an individual can enter into bankruptcy in

If I Have a Wage Garnishment in New Jersey, Will My Employer Find Out?

A “wage garnishment” order is a court order that allows creditors to take money directly out of your income to pay off debts you have to them. For many people, a wage garnishment can be a difficult arrangement. Garnished wages can make it tough to

What is “Pre-Foreclosure” in Pennsylvania?

The prospect of foreclosure is worrying to home and business owners across the United States. If a home or business owner is worried about a foreclosure on their property, they may be wondering how long they have to try and either remedy the

Litigating Legacy Debt: “Commercial Or Business Activities” for Subchapter V Eligibility? (In re Fama-Chiarizia)

By: Donald L Swanson “ courts agree that . . . evaluating, asserting, pursuing, and defending litigation claims . . . can satisfy Section 1182(1)(A)’s requirement of ‘commercial or business activities.’” In re Fama-Chiarizia, Case No. 21-42341, E.D.N

Unconstitutionality of Bankruptcy Administrator Fees; A Remedies Debacle; & No Accountability For Those Responsible (U.S. Trustee v. John Q. Hammons)

By: Donald L Swanson This isn’t going to end well. Looks like our bankruptcy system in these United States is about to take a big hit—to the tune of hundreds of millions of dollars (projected to be around $350 million). And those responsible for

Weekly News – September 29

The 45-day road to nowhere BK pros to the rescue! K&E pitch deck LMEs a “creative” roadmap to nowhere Exclusive Content Find it here Our take: A road to nowhere! S&P is rightfully concerned about LMEs that pile on interest expense and don’t provide

September 2023 Ponzi Scheme Roundup

Posted by Kathy Bazoian Phelps Below is a summary of Ponzi scheme activity reported for September 2023. At least 13 new Ponzi schemes came to light this month. More than 94 years of prison sentences were imposed on Ponzi schemers, and the average age

Asset Armor: Protecting Your Wealth with Bernstein-Burkley’s Asset Protection Insights Blog #9

By: Harry Greenfield September 28, 2023 As we said last time, the Bankruptcy Code provides defenses to preference actions. The three most common are: 1) the “ordinary course of business” … The post Asset Armor: Protecting Your Wealth with Bernstein

Individual Subchapter V Debtor’s Liquidating Plan: Can Discharge Be Denied Under § 1141(d)(3)? (In re Lucido)

By: Donald L Swanson Here’s a Bankruptcy Court opinion addressing a no-discharge claim under § 1141(d)(3) against an individual debtor who proposes a liquidating Subchapter V plan: RGW Construction, Inc. v. Lucido (In re Lucido), Adv. No. 21-4031

10 Helpful Tips for Getting Business Loans After Bankruptcy

10 Helpful Tips for Getting Business Loans After Bankruptcy SmallBizTrends features an informative article on securing a business loan post-bankruptcy. From our experience, individuals often become more creditworthy after filing for bankruptcy

Till Interest Rate For A Bankruptcy Plan: Start With Treasury Rate or Prime Rate? (In re Topp)

By: Donald L Swanson What rate of interest should a debtor pay under a bankruptcy plan? The Eighth Circuit Court of Appeals addresses this question in Farm Credit Services of America, FLCA v. Topp (In re Topp), Case No. 22-2577 (8th Cir., decided

Weekly News – September 22

New heavy-weight champion of the world In defense of uptiers Exclusive Content PTL Lenders Brief Serta Brief Incora grudge match Our take: 5th Circuit or Judge Jones…pick your poison… We kinda already know how Jones is going to come out… don’t we

Save The House Even AFTER The Foreclosure Sale

The fall of the hammer at the foreclosure sale threatened to leave my widowed client homeless and poorer by hundreds of thousands of dollars. Instead, we recovered her house from the foreclosure sale under new California law which delays the finality