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

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A Template for MBS Settlements and How Safety-and-Soundness Regulation Is Incompatible with Law Enforcement

Over the past couple of years, the Massachusetts Attorney General's office has reached settlements with a number of major banks regarding mortgage securitization. These settlements has received very little notice in the press, but I think they

Joliet Bankruptcy Attorney Fee on Par

Link There are many different attorney fees that one can pay for the same service. For example, one attorney may charge $450.00 for a real estate closing and another may charge $750.00. This does not mean that the higher fee will produce a better

Can My Chapter 13 Plan Be Changed If Something Happens?

A Chapter 13 Bankruptcy last a minimum of 36 months, and more frequently lasts for 60 months. During that 36 to 60 month time frame, the Debtor will be making monthly payments, known as Plan payments to the Trustee. So it should not come as a

The Politics of the Durbin Rulemaking

It goes without saying that I think the Fed did a real jerk move on the Durbin Amendment rulemaking. But the more interesting issue is why? The Fed didn't have any new data to work with after the proposed rulemaking in December. Sure, it had lots and

Lower Down Payment Offered to New Clients To Start Chapter 13 Cases

My law office has been very successful handling Chapter 13 cases, that is, so long as our clients do their part by making the required trustee payments, the majority of our clients have their plans confirmed by the Bankruptcy Court. And unless there

Circuit Court Sides With Secured Lender — Holds Credit Bidding Too Important To Be Prohibited in Bankruptcy Sales, Even Those Under a Plan

The United States Court of Appeals for the Seventh Circuit issued its much anticipated decision in In Re River Road Hotel Partners, LLC, __ F.3d __ (7th Cir., June 28, 2011). In the closely watched case, the Seventh Circuit declined to follow the

Tobey Maguire Resists Trustee’s Move to Collect Poker Money

Associated Press Blame the game, not the player. Actor Tobey Maguire can’t help his natural knack for winning Texas Hold ‘Em-style poker. The “Spider-Man” hero recently denied any wrongdoing when he collected $300,000 from poker matches that were

Los Angeles Dodgers Chapter 11 - Can They Get Kirk Gibson Admitted Pro Hac in Delaware?

The Chapter 11 filing of the Los Angeles Dodgers is a desperate move by Frank McCourt to try to maintain his ownership of the team. At least McCourt, whatever his shortcomings as a major league franchise owner, chose wisely in selecting bankruptcy

Poll: Dodd-Frank Wouldn’t Have Helped Lehman Creditors

A majority of respondents to an American Bankruptcy Institute poll said creditors of failed investment bank Lehman Brother Holdings Inc. wouldn’t have fared better in a post-Dodd-Frank world. The strenuously negotiated financial reform law put into

Final Durbin Rule Clinches It: "Prepaid" Cards Subject to Fee Cap

The Fed calls out what many bankers failed to notice: Highly successful, rapid growth products labeled as "prepaid cards" are not in fact prepaid cards, they are electronic transaction accounts.