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

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Blue Light Special in the Boot and Nuke Department - Part I

I can remember all too well as a child hearing the KMart PA announcement that there was a blue light special in the children's shoes department... the pushing, clawing, and biting... running over poor little old ladies standing in line at those

Blue Light Special in the Boot and Nuke Department - Part I

I can remember all too well as a child hearing the KMart PA announcement that there was a blue light special in the children's shoes department... the pushing, clawing, and biting... running over poor little old ladies standing in line at those

None of Your Business, Trustee!

A recent decision by Judge Montali denied a bankruptcy trustee’s bid to capture a piece of the sole proprietorship business of a non-filing spouse. A lawyer reading this decision may be: (i) intrigued by the idea of applying its principles in the

Getting Off the Omnibus: Fair Notice of Claims Objections

Everyone who has represented a general unsecured creditor in a big chapter 11 case has had this experience. After the proof of claim has been filed, and usually after the plan has been confirmed, you receive in the mail the “Reorganized Debtor’s

Adbox Redux: Who Must Prove and Disprove Earmarking

In the previous post, I commented on In re Adbox, Inc., 2007 WL 1584582 (9th Cir. June 4, 2007), a case which explains the maybe not so obvious – why can’t creditors counterclaim in an avoidance action and offset their claims against their

Counterclaims in Avoidance Actions? Are We Sure We Know Why Not?

If you have defended a few preference actions, I’ll bet that you’ve heard this one from your client more than once: “Can I countersue them for what they owe me?" The obvious (to a bankruptcy lawyer) and correct response is “no,” but you might not

No Need to Bother the Bankruptcy Judge – Continuing a Personal Injury Case After the Discharge to Reach Insurance

Bankruptcy Judge Lee of the Eastern District of California probably doesn’t think that it should be necessary to remind litigants that a personal injury plaintiff need not obtain relief from the post-discharge injunction in order to commence or

Aiieeee!! Phantom Expenses Haunt Means Testing

Bankruptcy Judge Jury of the Central District has joined the majority of courts across the land in holding that a chapter 7 debtor may deduct, for purposes of means testing, expenses which the debtor has sworn elsewhere in her bankruptcy papers she

Involuntary Bankruptcy Is Even Riskier Than You Thought

We all know that per 11 U.S.C. § 303(i), when an involuntary bankruptcy petition is unsuccessful, the court may grant judgment against the petitioning creditors for attorney fees, and may also award damages and punitive damages if the petition was

Bankruptcy More of a Girl Thing

A major new source of fresh, meaningful bankruptcy statistics has come to my attention. The Institute for Financial Literacy is based in Portland, Maine. To quote from the IFL website: The Institute for Financial Literacy is a non-profit organization