ABI Blog Exchange

Delaware Bankruptcy Court Approves DIP Financing of 700 Bitcoin

On May 8, 2023, online cryptocurrency exchange platform Bittrex, Inc. and three of its affiliated entities (collectively “Bittrex”) filed for chapter 11 to wind down their U.S. and long-dormant Malta operations. The bankruptcy filing followed costly

June 9, 2023 Bankruptcy Quiz

Here’s this week’s Bankruptcy Quiz. This one is all about Supreme Court bankruptcy opinions and will test how much we were all listening at seminars over the last few years. Click the image to take the quiz and enjoy! If you enjoyed this post and

Notable Subchapter V Bankruptcy Opinions: May 2023 Edition

While Plan Proponent is primarily about Chapter 11 confirmation issues, Subchapter V is becoming a bigger part of Stone & Baxter’s debtor practice, especially with the temporary $7.5 million debt limit. Thus, I’m going to experiment with providing

In re FTX Trading - hearing on US estate/Bahamas estate issues now streaming on YouTube

Here is the link to the live stream of the hearing: https://www.deb.uscourts.gov/FTXLiveStream I have posted the official court audio for prior FTX hearings to FTX/Alameda U.S. bankruptcy court hearing audio recordings, #crypto - YouTube.

Guidance From Eighth Circuit BAP On Plan Feasibility Issues (Farm Credit v. Swackhammer)

By: Donald L Swanson Feasibility of a bankruptcy plan is always a tough issue. Think about it: debtors are in bankruptcy because they can’t make their payments when due; and in bankruptcy, a debtor must propose a plan for paying creditors—that will

SEC Coinbase Suit

The SEC has finally brought its long-anticipated lawsuit against Coinbase. The suit alleges that Coinbase has operated as an unregistered securities broker, an unregistered securities exchange, and an unregistered securities clearing agency, and that

Special Feature: Third Party Releases After the Second Circuit Decision in Purdue Pharma

Last year, our Contributors tackled the debate swirling around the SDNY and EDVA decisions rejecting non-consensual third party releases here. What a difference a year makes! On May 30, 2023, the Second Circuit overruled the SDNY and approved the

Asset Armor: Protecting Your Wealth with Bernstein-Burkley’s Asset Protection Insights Blog #2

By Harry W. Greenfield June 7, 2023 A series of blogs on Asset Protection…. Blog #2. >>> When should asset protection start? The easy answer is the moment one either acquires … The post Asset Armor: Protecting Your Wealth with Bernstein-Burkley’s

Philip Anker Speaks on the Purdue Pharma decision

There are three lenses through which I view the Second Circuit’s recent decision in Purdue. The first is one of policy – if I could amend the Bankruptcy Code, would it permit non-consensual, third-party releases? I can see arguments on both sides but

Know Your Rights: Fair Debt Collection Practices Act

You applied to a loan or a line of credit and, based on your credit score and past payment history, the lender took a chance on you. Since then, your financial world has collapsed. Perhaps you lost your job or got into a car accident and now have

Does Electricity Supplied Within 20 Days of a Bankruptcy Qualify for Section 503(b)(9) Priority Status? Recent Decisions Say “No”

Does Electricity Supplied Within 20 Days of a Bankruptcy Qualify for Section 503(b)(9) Priority Status? Recent Decisions Say “No”

Student loan payment restart: Here’s the official date you’ll have to start paying again Aug 29, 2023 according to AL.com

Student loan payment restart: Here’s the official date you’ll have to start paying again Aug 29, 2023 according to AL.com AL.com is reporting that the official date when student loan payments will commence is August 29, 2023. The article can be found

3M CEO Ordered To Personally Attend Mediation Sessions (In re 3M Combat Earplug Litigation)

By: Donald L Swanson 3M’s Chief Executive Officer “must personally attend, and listen and engage directly with the mediators.” From mediation Order entered May 19, 2023, in In re 3M Combat Arms Earplug Products Liability Litigation, Case No. 3740

Is There a Right of Redemption at a Sheriff’s Sale in Pennsylvania?

Losing your home in a sheriff’s sale can be a painful process. A sale is almost always permanent, as many homeowners won’t be able to redeem their property once sold in Pennsylvania. The right of redemption is reserved for homeowners whose property

Globe Newswire is reporting that Commercial Chapter 11 Filings Doubled Over Same Period Last Year

Globe Newswire is reporting that Commercial Chapter 11 Filings Doubled Over Same Period Last Year. The article can be found at https://www.globenewswire.com/news-release/2023/06/02/2681388/0/en/Comm…

Chapter 13 Payment Information

Here’s How You Can Make Your Chapter 13 Payments in the Alexandria VA Bankruptcy Court The bankruptcy law tells you to make your first Chapter 13 payment one month after your bankruptcy case is filed. If you forget, or bounce, your first payment, the

Chapter 13 Payment Information

Here’s How You Can Make Your Chapter 13 Payments in the Alexandria VA Bankruptcy Court The bankruptcy law tells you to make your first Chapter 13 payment one month after your bankruptcy case is filed. If you forget, or bounce, your first payment, the

Bankruptcy Filing Requires More Than Honesty

The discharge of debts you can’t pay is the goal of a bankruptcy filing. That discharge wipes out debts, making them forever unenforceable. Yet, it isn’t a slam-dunk that your bankruptcy case ends in discharge. The Bankruptcy Code lists 12 situations

June 7 virtual event on Second Circuit's Purdue Pharma decision

The Commercial Law League of America is holding a virtual event next week, free of charge and open to all, on broader implications of the Second Circuit's Purdue Pharma decision. Register here. Date and time: June 7, 2023 at noon...