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

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(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

What Does it Mean to Pledge Your Property as Collateral?

Getting a loan from the bank or another lender can be challenging, and securing the loan with a pledge of collateral might make things easier. Unfortunately, your property pledged as collateral might be seized if you default on loan payments. When

Subchapter V Trustee’s Facilitation Role (Part 1)—NOT NEUTRAL

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

How Does Wage Garnishment Work in New Jersey?

If you have creditors coming after you to have their debts paid, they may take you to court to try and have you ordered to pay those debts. If you cannot pay right away, the court may order that some of your income be directly given to your creditors

Weekly News – August 4

UST 10-yr climbs Threatening equity rally… Hurting borrowers… But opportunity lurks… Renal Care: the latest uptier/downtier Brought to you by our friends @Petition Find it on Petition here Mudrick previews plan objections Exclusive Content Find it on

Misuse or Misapply SBA EIDL Loan Proceeds and Chapter 7 Bankruptcy Filings

Misuse or Misapply SBA EIDL Loan Proceeds and Chapter 7 Bankruptcy Filings As many readers of our emails and blogs know, we have developed a practice representing individuals and businesses that have defaulted on SBA loans. We either want to do a

Epiq: July Commercial Chapter 11 Filings Increase 71 Percent Over Last Year

Epiq is reporting that July Commercial Chapter 11 Filings Increase 71 Percent Over Last Year The article can be found at https://finance.yahoo.com/news/epiq-july-commercial-chapter-11-17270088… Jim Shenwick, Esq 917 363 3391 jshenwick@gmail.com

What is a Notice of Intent to Foreclose in Pennsylvania?

Getting a notice of intent to foreclose letter in the mail can be a scary moment. Should this happen to you, it’s important that you understand what this letter means and what is required of you to stop mortgage foreclosure in Pennsylvania. If you

Bernstein-Burkley Associate Sarah Wenrich Involvement with Judith K. Fitzgerald Inns of Court’s Financial Literacy Program

By: Sarah Wenrich August 3, 2023 Bernstein-Burkley Associate Sarah Wenrich is the Community Outreach and Public Relations Co-Chair (and has been co-chair or chair since 2021) for the Judith K. … The post Bernstein-Burkley Associate Sarah Wenrich

Beating The “Single Asset Real Estate” Exclusion From Subchapter V Eligibility (In re Evergreen)

By: Donald L Swanson Excluded from Subchapter V eligibility is a “single asset real estate” debtor. We have a recent opinion on a Subchapter V debtor who beats that exclusion: In re Evergreen Site Holdings, Inc., [Fn. 1] What follows is a summary of

Are UK Officeholders Protected if a Court Sanctions Their Actions?

From time to time, officeholders apply to court to seek approval of a proposed course of action which they have decided to take in connection with their function. But where the court sanctions those decisions, are the officeholders protected from

Chairman Emeritus Fred Zeidman Interviewed on Bloomberg News

Fred Zeidman discusses the current state of the Oil and Energy market with Bloomberg Markets "The Close" host Romaine Bostick The post Chairman Emeritus Fred Zeidman Interviewed on Bloomberg News appeared first on Gordian Group, LLC.

Treasury in the Red... with Yellow

Freight company Yellow is on the verge of bankruptcy. It's not a company whose financial distress would normally stand out but for the fact that it received $700M in national security loans from the US Treasury in 2020, and, oh...

New Biden plan cuts student loan payments for millions to $0?

KCRA has New Biden plan cuts student loan payments for millions to $0. Will it be the next legal battle? https://www.kcra.com/article/biden-new-student-loan-payment-plan-explai… Jim Shenwick, Esq 917 363 3391 jshenwick@gmail.com Please

Will I Get a Discharge in My Bankruptcy Case

Getting a bankruptcy discharge is what almost all cases are about. So the question of whether or not you’ll get a discharge looms large in Chapter 7. The short answer is that if you are eligible for a discharge, you’re almost certain to get a

Why Debt Consolidation Isn’t Always the Best Solution: A Bankruptcy Attorney’s Perspective

Financial distress can feel overwhelming, and finding the right path toward resolution can be challenging. Two common strategies that individuals consider when addressing this crisis are debt consolidation and bankruptcy. Both options present

What is the Act 91 Notice of Foreclosure in Pennsylvania?

Getting an Act 91 from your bank warning you of an imminent foreclosure can be frightening. But how serious is this letter, and how can homeowners in Pennsylvania respond to it? Banks send Act 91 notice of foreclosure letters when homeowners have

Bankruptcy Appellate Panel Rules That A Section 524(a) Discharge Does Not Protect The Debtor’s Alter Egos (US)

When a debtor receives a bankruptcy discharge, section 524(a) of the U.S. Bankruptcy Code prohibits a creditor from seeking to collect a prepetition debt against the discharged debtor or its property. Importantly, the discharge does not extinguish

Teamsters says U.S. trucking firm Yellow shuts operations, to file for Bankruptcy

Teamsters says U.S. trucking firm Yellow shuts operations, to file for Bankruptcy. The article can be found at https://www.cnbc.com/2023/07/31/teamsters-says-us-trucking-firm-yellow-… Jim Shenwick, Esq 917