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

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The Neglected Non-dischargeability Provision

Hands up, everyone who has encountered a claim that a debt is non-dischargeable by reason of §523(a)(14). That’s what I thought: nada, or next thing to it. Despite watching for it, I hadn’t seen one til this year when AmEx filed an adversary in a

3M Bankruptcy Dismissed As “Fatally Premature” (In re Aearo, et al)

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

"Behind on Student Loan Payments? Here's How It Can Impact Your Credit Score" Motley Fool

The Motley Fool has an article titled " Behind on Student Loan Payments? Here's How It Can Impact Your Credit Score". The article can be found at https://www.fool.com/student-loans/2023/06/25/behind-on-student-loan-pa… Jim

Doubts About Lawful Possession of Cattle Prevent Perfection of Veterinary Lien

In re Kern, No. 22-40437 (Bankr. D.Kan. May 26, 2023) On May 26, 2023, the U.S. Bankruptcy Court for the District of Kansas entered a memorandum opinion and order disallowing a secured claim asserted by a veterinarian. Briefly, Section 47-836 of the

Weekly News – June 23

Don’t miss out! Our annual restructuring event 3M pays $10.3 billion for that OTHER tort exposure Vice Media picked up for peanuts Steinhoff nets plan approval Exclusive Content Houston venue hijinks… Exclusive Content Find it on Reorg here CLO

Can You Appeal a Wage Garnishment in Pennsylvania?

It is very difficult to escape debts, and wage garnishment is one way that courts make debtors pay up. Wage garnishments can be a significant financial burden and are not always fairly imposed. When wages are garnished in Pennsylvania, the courts

June 23, 2023 Bankruptcy Quiz

Here’s this week’s Bankruptcy Quiz. I purposefully made this one short, as entertaining as bankruptcy can get, and, I hope, “easy.” Click the image to take the quiz and enjoy! Click here for prior quizzes. If you enjoyed this post and would like to

Has the Second Circuit Extended the Automatic Stay. . . Again[1][2]

The Bankruptcy Code’s “Automatic Stay”[3] is its “fundamental” protection.”[4] In summary, it enjoins efforts to prosecute claims against debtors or gain possession or control the bankruptcy estate’s[5] property.The Automatic Stay: a.) offers debtors

A LEG UP FOR EQUITY? Part II – Freeze Claims [1]

Equity security holders[2] or investors [3] (“Equity Holders”) in debtor entities are usually subordinated to creditors’ claims in bankruptcy cases.[4] This need not always be so.

Will I Lose My Social Security Benefits If I File Bankruptcy?

Social security income is an important source of income for many people. If you are planning to file bankruptcy, and you get social security benefits, it is important to speak with an experienced bankruptcy attorney about it. However, in most cases

Bank Failures Breathe New Life into Old Issue

The first half of 2023 witnessed the failure of three financial institutions in quick succession—Silicon Valley Bank (March 10, 2023), Signature Bank (March 12, 2023), and First Republic Bank (May 1, 2023). This was the first time three financial

Are Interest Rate Rises Squeezing Working Capital?

In its battle to control and reduce the rate of inflation, the Bank of England has increased interest rates for a 13 th consecutive time. Already at its highest level for nearly 15 years, rising interest rates are continuing to apply pressure on

Are 401(k) Contributions Disposable Income Or Not?

For a system that is supposed to rehabilitate personal finances and set debtors back on their feet, Chapter 13 nationwide is schizophrenic about on- going retirement savings, divided about whether post petition contributions to retirement accounts

Debtor Improperly Colludes with Buyers, then Sues Them; Complaint Dismissed on In Pari Delicto Defense

Kwok v. Li (In re Kwok), No. 22-1152 (9th Cir. BAP May 23, 2023) On May 23, 2023, the U.S. Bankruptcy Appellate Panel for the Ninth Circuit issued an opinion agreeing with a bankruptcy court’s dismissal of an action based on the defense of in pari delicto but remanding for further findings to support an... Continue Reading → The post Debtor Improperly Colludes with Buyers, then Sues Them; Complaint Dismissed on In Pari Delicto Defense first appeared on Higher Court.

Asset Armor: Protecting Your Wealth with Bernstein-Burkley’s Asset Protection Insights Blog #3

By Robert S. Bernstein June 22, 2023 A series of blogs on Asset Protection…. Blog #3 >>> Previously, Harry mentioned engineering a delay to avoid creating a possible preference.  Building … The post Asset Armor: Protecting Your Wealth with Bernstein

Getting Subchapter V Trustees Paid: § 1191(e)

By: Donald L Swanson Subchapter V of the Bankruptcy Code’s Chapter 11 is relatively new: it took effect as a new law on February 19, 2020. Accordingly, new questions continue to arise on how its terms and provisions should be applied. A Trustee Fees

What to expect in the next default cycle

We asked Contributors Bradford Sandler and Sidney Levinson to weigh in on what we should expect in the next default cycle. Professor Edward Altman recently noted in a paper published with the Creditor Rights Coalition that the Benign Credit Cycle is

Supreme Court Holds That Indian Tribes are Subject to the Automatic Stay in Bankruptcy

Last week, the Supreme Court held in an 8-1 decision that the Bankruptcy Code “unequivocally abrogates the sovereign immunity” of federally recognized Indian tribes, including immunity to the automatic stay under § 362. I was intrigued when I first

Bankruptcy Court Rules Horse Breeding is Not Farming Under Chapter 12

In re Leonaggeo, No. 23-35092, — B.R. — (Bankr. S.D.N.Y. May 24, 2023) On May 24, 2023, the U.S. Bankruptcy Court for the Southern District of New York held that ordinary horse breeding, without more, does not constitute farming activity under

Essential Tips for New Home Buyers: Insights from a New Jersey Real Estate Attorney

Purchasing a new home is an exciting milestone in one’s life, but it can also be a complex and daunting process. As a real estate attorney, I have witnessed firsthand the challenges that new home buyers face. To help you navigate this significant