ABI Blog Exchange

September 22, 2023 Bankruptcy Quiz

This morning, I presented, along with Judge Paul Bonapfel (Bankr. N.D. Ga.) and Rob Matson (a Sub V Trustee in the M.D. Ga.), the Subchapter V Update for the Middle District of Georgia Bankruptcy Law Institute. So, call me lazy, but it’s only fitting

Demystifying Common Mortgage Terms

Understanding common terms used in mortgages is crucial for anyone involved in buying a home or anyone who is facing a legal situation related to their mortgage, such as foreclosure. In this blog, we will break down some common mortgage terms that

Germany leads the way with proposed legislation regulating crypto-assets safekeeping that will provide insolvency protection

The European Markets in Crypto-Assets Regulation (Regulation (EU) 2023/1114 – MiCA), which entered into force on 29 June 2023, is a significant new regulation that will impact the treatment of cryptocurrencies and digital assets. MiCA requires the

What Do the Most Recent Bankruptcy Filing statics mean?

What Do the Most Recent Bankruptcy Filing Statics Mean? JDSupra has an interesting article discussing the recent upswing in bankruptcy filings and what the data means. The article can be found at https://www.jdsupra.com/legalnews/a-look-into-2023

Subchapter V Debtor’s Exclusive Right To File A Plan: Not A Super-Power

By: Donald L Swanson Question Once a Subchapter V debtor is removed from possession under § 1185(a), what happens next? The answer to this question seems to have evolved over the few years of Subchapter V’s existence: from a low-power position for

Can Banks Offer “Cash for Keys” in a PA Foreclosure?

Homeowners at risk of foreclosure or tenants behind on rent may find that a ‘cash for keys’ agreement is the most viable solution. Banks and property owners might be willing to offer compensation to occupants in return for an easy transition of the

Pros and Cons of Reverse Mortgages

Among the many options overlooked by homeowners, one of the most commonly overlooked is a reversed mortgage. A reverse mortgage is a system that allows homeowners to borrow against their own home equity while still being the homeowner. A reverse

Why Small Businesses Are More Reluctant to File for Chapter 11 by Chicago Booth Review

Chicago Booth Review has an article on Why Small Businesses Are More Reluctant to File for Chapter 11?The article can be found at https://www.chicagobooth.edu/review/why-small-businesses-are-more-reluc… Shenwick, Esq 917 363

Equitable Mootness Doctrine At U.S. Supreme Court (U.S. Bank v Windstream)

By: Donald L Swanson The equitable mootness doctrine is before the U.S. Supreme Court on a Petition for writ of certiorari. The case is U.S. Bank National Association v. Windstream Holdings, Inc.[Fn. 1] All who’ve seen an effort to abuse equitable

I Stopped Paying My Private Student Loans, and Somehow Got Lucky New York Times article

I Stopped Paying My Private Student Loans, and Somehow Got Lucky https://www.nytimes.com/2023/09/09/business/private-student-loans-debt-… Shenwick, Esq 917 363 3391 jshenwick@gmail.com Please click the link

Weekly News – September 15

Bond King grudge match! Coming tomorrow: Congress takes on BK Next sovereign chapter 22? In defense of litigation funders Our take: We are glad to see Judge Preska (SDNY) defend the role of litigation financing. Well-financed adversaries will require

How Does a Deficiency Judgment Work in Pennsylvania?

Foreclosure is not something any homeowner wants to go through, but it might be unavoidable. Many people find moving on from the foreclosure process difficult if they are hit with a deficiency judgment. A deficiency judgment is a court ruling holding

Will the Supreme Court Grant Cert to Address the Issue of the Appropriate Post-Siegel Remedy? Unlikely.

Will the Supreme Court Grant Cert to Address the Issue of the Appropriate Post-Siegel Remedy? Unlikely.

Lender Fees At Risk?

A New York state court has voided a $1.3 million loan agreement to a corporate borrower because the loan agreement’s stated interest rate of 34% violated New York’s criminal usury law statute. The loan agreement was governed by Virginia law, which

Third-Party Releases At U.S. Supreme Court & Strong Views Of Individual Victims (In re Purdue Pharma)

By: Donald L Swanson Here’s my take on third-party releases in a bankruptcy plan [not that anyone asked]: third-party releases should be rare and hard-to-get; but in exceptional circumstances ( i.e., when a third-party release is needed to get lots

The Weak Link In The Means Test

The bankruptcy means test, designed to keep people out of bankruptcy, has a fatal weakness.  Like so much recently, it’s health care. Health care, in the future, to be paid before creditors get any money. It works because, in a logic that only

Minimum Payments Delay Improving your Financial Health

Paying only the minimum payments on your credit cards can be detrimental to your financial health. Considering the scenario of paying the minimum balance on a credit card with a $2,000 balance that has an 18 percent annual rate means that it will

Subchapter V Trustee’s Facilitation Role (Part 6)—DUTIES & INHERENT POWERS

By: Donald L Swanson “(b) Duties.—The [Subchapter V] trustee shall— . . . (7) facilitate the development of a consensual plan of reorganization.” From 11 U.S.C § 1183(b)(7)(emphasis added). Facilitation is, by statute, a duty of every Subchapter V

Business Bankruptcies Soar in August as Rising Interest Rates Bite

Bloomberg is reporting that Business Bankruptcies Soar in August as Rising Interest Rates Bite. The article can be found at https://www.bloomberg.com/news/articles/2023-09-05/businesses-bankruptc…