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

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Purdue Pharma: U.S. SUPREME COURT TO DECIDE WHETHER A RELEASE THAT EXTINGUISHES NON-DEBTORS’ CLAIMS AGAINST NON-DEBTOR THIRD PARTIES, WITHOUT THE CLAIMANTS’ CONSENT, IS LEGALLY PERMISSIBLE IN A CHAPTER 11 PLAN

By: Jeffrey C. Toole August 15, 2023 For years, the federal courts of appeals have been divided regarding whether, in a chapter 11 plan of reorganization, the claims held by … The post Purdue Pharma: U.S. SUPREME COURT TO DECIDE WHETHER A RELEASE

Should I File for Bankruptcy Over Student Loans in Pennsylvania?

Having student loan debt can cause people considerable financial hardship. Depending on your finances, you might be able to file for bankruptcy to discharge your student loans in Pennsylvania. In order to get student loans discharged in bankruptcy

Subchapter V Trustee’s Facilitation Role (Part 2)—NOT MEDIATION  

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 happens to your Student Loans if you file bankruptcy? Marca.com

What happens to your Student Loans if you file bankruptcy? See the article at Marca.com, it can be found at https://www.marca.com/en/lifestyle/us-news/personal-finance/2023/08/12/… Jim Shenwick, Esq 917 363 3391 jshenwick

How Often Does Bankruptcy Lead to Divorce?

Going through bankruptcy proceedings can be incredibly stressful. Although lawyers may be doing much of the legwork when interacting with the court, there is still a great deal of pressure put on couples where one or both spouses are in the middle of

What Happens to My Timeshare If I File Bankruptcy?

If you are considering bankruptcy, you may be wondering what will happen to your car or your house. In fact, these questions are so common that we have prepared a client FAQ detailing exactly what happens in the bankruptcy process to these and other

Weekly News – August 11

BREAKING NEWS in Purdue Other reactions: Read our recent coverage: Purdue Pharma click through to read the features from our Contributors REORG league tables out Exclusive Content APEs approval slams AMC stock Who said it wasn’t possible??? Exclusive

Are Pension and Retirement Accounts Protected in Pennsylvania Bankruptcies?

If filing for bankruptcy is in your near future, you might be worried about retirement or pension accounts you have set aside for your future well-being. The good news is that many of these accounts are protected from bankruptcy. Unfortunately

August 11, 2023 Bankruptcy Quiz – Inn of Court Edition

Here’s this week’s Bankruptcy Quiz, with an emphasis on consumer Chapter 7 issues. Last Friday, we had our Annual Dinner for the W. Homer Drake, Jr. Georgia Bankruptcy American Inn of Court here in Macon at Capricorn Studios, which is probably most

Discharging Student Debt in Bankruptcy Is Supposed to Be Easier Than Before New York Times

Discharging Student Loans in Bankruptcy. The New York Times has an article titled "Discharging Student Debt in Bankruptcy Is Supposed to Be Easier Than Before" about new processes to discharge student loans in Bankruptcy. The article can be found at

Unhappy Campers and Their Credit Cards

This story about the failure of a company that ships duffel bags to/from sleep-away camps has an interesting payment systems meets bankruptcy angle that got me particularly excited given that I'm teaching payment systems this fall: Parents are

What Is a Non-Earnings Garnishment?

What Is a Non-Earnings Garnishment? While nobody sets out wanting a garnishment, they’re entirely uncommon due to child support and other sources of debt. Garnishments are used by creditors to collect payment for unpaid debts, either through earnings

WeWorks-The co-working company has declared that its ability to endure as a business is in doubt

The New York Times has reported that WeWork, the co-working company, has declared that "its ability to endure as a business is in doubt. The article can be found at https://www.nytimes.com/2023/08/09/business/wework-explain.html This suggests that

Asset Armor: Protecting Your Wealth with Bernstein-Burkley’s Asset Protection Insights Blog #6

By Robert Bernstein August 11, 2023 A series of blogs on Asset Protection…. Blog #6 >>> Previously, we mentioned the idea of “fraudulent transfer” or avoidable transfer. First, we need … The post Asset Armor: Protecting Your Wealth with Bernstein

Can You Spend Money During Bankruptcy?

For many individuals with debts that they cannot adequately pay, bankruptcy offers a solution that lets both the debtor and creditors get what they want over time. The creditor gets paid, and the debtor can start fresh after bankruptcy proceedings

Bankruptcy Attorney Joel R. Spivack Shares Why Debt Settlement is Not the Best Option for Everyone

When confronted with the overwhelming burden of debt, it’s natural for people to seek relief from any source possible. Debt settlement, a strategy in which a third party negotiates with your creditors to reduce or eliminate your debt, often presents

Is Pennsylvania a Nonjudicial Foreclosure State?

Going through foreclosure can be a painful experience, but lenders must follow strict legal procedures for the foreclosure to be considered valid. Pennsylvania is not a non-judicial foreclosure state, meaning all foreclosures must go through the

Congress Needs To Expand § 524(g) To Protect Future Claimants In Mass-Tort Cases (In re Aearo & In re Imerys)

By: Donald L Swanson “ Were Congress to . . . intervene and expand § 524(g) beyond asbestos cases, bankruptcy would become a more suitable alternative for resolving mass tort cases. Until then, such cases will likely remain problematic under the Code

(UK) Litigation Funding in Insolvency – Where Does PACAAR leave us?

Although a non-insolvency case the recent case of PACCAR Inc & Ors v Competition Appeal Tribunal & Ors (“ PACCAR”) has caused waves in the litigation market (including insolvency litigation market) following the Supreme Court finding that litigation

US credit card debt surges to more than $1 trillion for first time ever as reported by NY Post

US credit card debt surges to more than $1 trillion for first time ever. See the full story at https://nypost.com/2023/08/08/us-credit-card-debt-surges-to-more-than-1… Credit card