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

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Creative Destruction in Small Business Bankruptcy

Two distantly related items caught my eye this morning, as both reinforce the need for "creative destruction" as a response to all-too-common small business failure. The first was a NYT piece on the travails of a female entrepreneur in China....

Stop Foreclosure With Stunning Timeline Change In CA Foreclosure Law

The signal changes in California foreclosure law in 2021 are bearing unexpected fruit: a bankruptcy filing AFTER the foreclosure auction can save the house for the homeowner. Under CC 2924m, instead of the foreclosure sale being final at the drop of

Subchapter V Trustee’s Facilitation Role (Part 4)—A CITY OF DETROIT MODEL

“(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 trustee—something a

A data security incident has been reported involving the personal information of bankruptcy claimants in the matters of BlockFi, FTX and Genesis. #crypto #bankruptcy

The following announcement appears under Case Background in the FTX Trading case administration website : We were recently informed of a data security incident that has impacted certain information related to this bankruptcy case. Additional

What you should know about chapter 7-bankruptcy Chiang Rai Times

Chiang Rai Times has an interesting article about Chapter 7 Bankruptcy. The article can be found at https://www.chiangraitimes.com/learning/what-you-should-know-about-chap… Jim Shenwick, Esq 917 363 3391 jshenwick@gmail.com Please

August 25, 2023 Bankruptcy Quiz

Here’s this week’s Bankruptcy Quiz, with an emphasis on Chapter 5 avoidance actions. Click the image to take the quiz. Have a nice weekend! Click here for prior quizzes. If you enjoyed this post and would like to be the first to hear about new

How often can you file for bankruptcy? Business Insider

Business Insider has a very informative article about how often a person can file for Bankruptcy. The article can be found at https://www.businessinsider.com/personal-finance/how-often-can-you-file… Individuals with questions about

Three Arrows Capital Co-Founder Avoids Contempt and Sanctions in United States, But Bankruptcy Court Previews Worldwide Enforcement Options

On June 27, 2022, Three Arrows Capital (“3AC”), a crypto hedge fund, commenced liquidation proceedings in the British Virgin Islands and thereafter filed recognition proceedings in, among other countries, the United States and Singapore. As we

College Sports: NIL & Bankruptcy?

By: Donald L Swanson There is an entirely-new group of rich people: well . . . they aren’t actually rich, compared to the truly rich; but compared to most of their peers, they are fabulously rich. NIL Benefits The entirely-new group consists of high

Can You Convert a Chapter 13 Bankruptcy Case to a Chapter 7?

Many people prefer to file for Chapter 13 bankruptcy as it helps them avoid the liquidation of their homes and other assets. Unfortunately, keeping up with Chapter 13 payment plans can be difficult, and converting to Chapter 7 might be a good idea

Subchapter V Trustee’s Facilitation Role (Part 3)—A BANKRUPTCY MODEL

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

What Debt Follows You After Bankruptcies?

Individuals commonly pursue Chapter 7 and Chapter 13 bankruptcy, which are among the various types of bankruptcy available. Despite the type of bankruptcy chosen, it is important to note that not all debt can be eliminated through the bankruptcy

Weekly News – August 18

Are we finally seeing cracks? Music to my ears… NRG recovery tables out Exclusive Content Find the Report here The perfect storm Grudge match continues Creditors fight back Thank you Kevin Eckhardt @reorg for pointing this out: Find the Complaint

What Is a Deed in Lieu of Foreclosure in PA?

It is important to know that if you are unable to make your mortgage payments, your lender will need to take action. However, a deed in lieu of foreclosure could potentially prevent the negative consequences of a foreclosure. There are both benefits

How Does Pennsylvania’s Homestead Exemption Affect Your Bankruptcy?

One of the scariest parts about filing for bankruptcy is not knowing what will happen to valuable assets like your house. While many states have legal exemptions that protect a person’s home during bankruptcy, Pennsylvania does not. A homestead

Nondebtor Releases and the Future of Mass Torts

Certain members of the bankruptcy academy and bar seem to have their knickers in a twist over the Supreme Court’s grant of certiorari to review the nonconsensual nondebtor releases in Purdue. Conventional wisdom is that SCOTUS is going to find...

Rule 41 Threatens Strike Out

I was the third attorney on this lien avoidance matter. Instead of it being “third time’s the charm”, it came close to being “three strikes and you’re out.” All because of FRBP 7041. One This was the set up: original counsel filed a number of lien

Debtors In Possession May Be Sued “Without Leave Of The Court”?! (28 U.S.C. § 959(a), East Coast, & In re Crown)

By: Donald L Swanson “Learn something new every day,” is a well-worn adage. And it’s mostly true (I only question giving a literal meaning to the “every day” part). Nevertheless, I’m embarrassed to acknowledge learning only recently of the existence

The Independent Show 2023: Showcasing Exciting Developments Shaping the Media Landscape

The Independent Show (TIS) 2023 captured the attention of NCTC and ACA Connects members, suppliers and media industry leaders alike with a series of significant announcements and discussions on the forces reshaping the future of media distribution

Tips for Buying a New Home: Advice from a Real Estate Attorney

When purchasing a new home, it is important to tread cautiously and understand the myriad of legal complexities involved. Who better to guide us through this process than a real estate attorney? Our law firm aims to give you valuable insights from