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

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How Can We Sleep When Rule 2019 Is Burning?

I wrote a short article on a very nerdy commercial bankruptcy litigation issue for the American Bankruptcy Institute. The article was published in the spring newsletter of the ABI’s Bankruptcy Litigation Committee. I have received good feedback on it

April Bankruptcy Filings Decrease

The image above represents bankruptcy filings in the Western District of Kentucky from January 1, 2010 through April 30, 2010. Monthly totals decreased by 231 in the Western District during April. The image above represents bankruptcy filings in the

Better Now Or A Year Ago?

Now that all of the drama of the Goldman Sachs vs Congress (actually Sen. Carl Levin) is over, what did it all mean. More importantly, WHO CARES? (well, I actually do but it's my job to care).The reality is that regardless of who caused the financial

When Should You Consult With A Restructuring Attorney

A couple times recently that people have asked me the same simple question and been surprised by the answer. The question: “When should people call you?” The answer: “When the first really bad thing happens.” Let me give a little context. The first

HMRC - Time to pay rejections on the rise

The previous Government's support in giving businesses time to pay their their debts to HMRC via the Business Payment Support Service (BPSS) has been widely acknowledged as having provided a lifeline to many businesses. Continued support was assured

How I Practice And Why

In the TV show M*A*S*H, there is a scene in which Colonel Potter is trying to reach a general who happens to be the head chaplain for the U.S. Army. He calls the general’s office and asks for the general. He is surprised to discover that he is


When Are Goods Received For The Purpose Of Asserting Administrative Priority Status Under Section 503(b)(9) Of The Bankruptcy Code?

A bankruptcy court recently held that in order for a supplier of goods on credit to establish an administrative claim under Bankruptcy Code section 503(b)(9) in the bankruptcy case of its buyer, the supplier will need to show that its buyer

April 2010 6th Circuit Bankruptcy Case Summaries

Maxus Capital Group, LLC v. Uhrich (B.A.P.) The Bankruptcy Court dismissed a Creditor's Complaint attempting to revoke confirmation of a Chapter 11 plan. The Creditor alleged that copies of certain emails demonstrated that the Confirmation Order was

FTC Finds Less Than 10% Success Rate In Debt Settlement

Readers of A Clean Slate might recall that I have written about Debt Settlement in the past and have suggested that it generally isn’t a good idea. I received a number of interesting comments in response to the post, few of which agreed with me. The

Brief Update: Lenders Prevail in Philadelphia Newspapers Auction

After much litigation and legal maneuvering, the Senior Secured Lenders prevailed at the auction for Philadelphia Newspapers. The Lender’s winning bid is for approximately $139 million, and the parties expect to close on the sale by late June. To