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

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Being Sued In Bankruptcy Court? Choose Your Defenses Early!

Let’s say you file for Chapter 7 bankruptcy. One of your creditors comes along and sues, demanding that their debt survive the bankruptcy. Maybe they’ve got a good reason, maybe not. Either way, they file the adversary proceeding in bankruptcy

Why the Road Out of Debt was Written

Not often do a bankruptcy judge and a bankruptcy lawyer collaborate on a book. So, how did this book come together? I work at a large law firm in Boston, Edwards Angell Palmer and Dodge. I am experienced in all areas of bankruptcy although my

Mixed messages regarding 'time to pay'?

HMRC is currently 'considering the release of statistics for Time to Pay (TTP)'. Whilst the review is ongoing it is unable to provide statistical information for the Business Payment Support Service which operates all TTP arrangements.

Discharging Child Support Legal Fees In Bankruptcy

The Bankruptcy Code severely limits your ability to discharge “domestic support obligations” in bankruptcy. But what if part of the award is for legal fees that your former spouse incurs in getting you to pay for child support or spousal maintenance

Economic Recovery?

The recent statistics on bankruptcy filings indicate that no recovery is taking hold. The three major reasons people file for bankruptcy are: job loss, divorce, and medical bills. As the unemployment rate hovers around 9.5%, more and more people are

Hardship 401(k) Withdrawals: Be Careful. You May Be Digging a Deeper Hole!

Hardship withdrawals from retirement plans, such as 401K plans, nationwide have reached a ten-year high, according to a report issued last week by Fidelity Investments which administers about 17,000 plans across the country covering some 11 million

Texas Rangers Chapter 11 Saga - Lessons Learned?

The Texas Rangers Chapter 11 case is finally winding down, following several weeks of nearly non-stop legal wrangling and high stakes drama. Rangers Baseball Express, LLC (“RBE”), a group fronted by legendary pitcher Nolan Ryan, emerged as the winner


Dead Zone? Direct Claims by Creditors of a California Corporation May Not Lie Against Management Based on Management's Allegedly Shifting Duties When Corporation Is in the Zone of Insolvency or Even Insolvent

The California Court of Appeal recently rejected the argument that directors and officers owe fiduciary duties to the company's creditors when the company is in the so-called "zone of insolvency," or is even clearly insolvent. In Berg & Berg

Modified Universalism - Rubin & Lan v Eurofinance

Rubin & Lan v Eurofinance involved a "novel, though we believe inevitable and desirable, development of the common law" (according to Lord Justice Ward). Founded on the principles of modified universalism (insolvency proceedings are collective

Delaware Court Upholds Barnes & Noble Shareholder Rights Plan

Here’s the Davis Polk note on Vice Chancellor Strine’s recent decision upholding the Barnes & Noble poison pill. The decision is interesting because the court, for the first time, recognized a valid threat in an investor’s rapid accumulation of