ABI Blog Exchange

Inflation Adjustment on income–But not on Expenses

Showing bankruptcy income eligibility got easier April 1, 2023 Showing income eligibility to file Chapter 7 bankruptcy in Virginia got easier April 1, 2023. The median income–that’s the cutoff for automatic eligibility based on income–shot up six to

Weekly News – March 31

Tweet of the week Voyager halted Uptier in Serta greenlighted Our take Tell us what you think Boy Scouts 3rd party releases upheld (for now…) Boy Scouts decision District Court decision here BBBY teetering Incora uptier in the spotlight predictions

Which Type of Bankruptcy is Best to File in New Jersey?

Bankruptcy is a legal process that can help you deal with insurmountable debt. There are multiple types of bankruptcy that may be declared in New Jersey. No type of bankruptcy is universally considered the best. The best form of bankruptcy for you

March 2023 Ponzi Scheme Roundup

Posted by Kathy Bazoian Phelps Below is a summary of Ponzi scheme activity reported for March 2023. This month revealed at least 13 new Ponzi schemes, 5 guilty pleas and over 30 years of new prison sentences. The average age for the alleged Ponzi

Creating and Implementing Your Chapter 13 Budget

The decision to seek bankruptcy relief is difficult, but it comes from a place of necessity and strength. When deciding to file a Chapter 13 bankruptcy it is important to have a clear understanding of the process. Chapter 13 Bankruptcy Chapter 13

Subchapter V Plan Confirmation: Non-Voting & Classification (In re Creason)

By: Donald L Swanson What happens when a creditor class fails or refuses to vote on confirmation of a Subchapter V plan? Does that prevent a consensual confirmation? We have a recent answer from In re Creason, Case No. 22-00988, Western Michigan

Bankruptcy Tidal Wave Coming?

This has been predicted for going on 3 years. However, if Silicon Valley Bank cannot make it, how will consumers fare going forward? Home Prices Down? We have seen this movie before. U.S. existing-home prices fell from a year earlier in February for

If Someone Sues You, Can They Take Your House?

A common fear when someone sues you is that they can take your house. Unfortunately, the answer to this question depends on several factors. For example, the type of debt you owe and where you live can impact whether you could lose your home if

Bankruptcy 101: Bankruptcy Cases, Adversary Proceedings, and Contested Matters

Highland Capital Fails Bid to Recuse Presiding Judge (US)

In January, we wrote about Highland Capital Management, L.P. and the reorganized debtor’s filing of a petition for a writ of certiorari, by which the reorganized debtor asked the Supreme Court to consider whether section 524(e) of the Bankruptcy Code

Bankruptcy Fraud is a Crime and People Who Commit Bankruptcy Fraud can be Arrested and Serve Time in Jail if Convicted

Bankruptcy Fraud: Former Attorney From Westchester Lied To Keep Home, Sports Car, Officials Say and was Arrested https://dailyvoice.com/new-york/scarsdale/news/bankruptcy-fraud-former-…

Special Feature: In conversation with Dominique Miele, author of Damsel in Distressed

CRC Contributor Rachel Ehrlich Albanese speaks with former hedge fund manager Dominique Mielle, author of 2021’s “Damsel in Distressed: My Life in the Golden Age of Hedge Funds.” Mielle spent two decades as a partner and senior portfolio manager at

“Hypothetical Jurisdiction” For A Bankruptcy Appeal? (Waleski v. Montgomery, At U.S. Supreme Court)

By: Donald L. Swanson Say what?!. “Hypothetical jurisdiction” for a bankruptcy appeal?! Who knew? I sure didn’t. But it is, apparently, a thing . . . and it may even be real. At U.S. Supreme Court A newly filed Petition in the U.S. Supreme Court is

It's Not Just an SVB Problem: the Systemic Nature of the Bank Regulation Failure

A mid-sized regional bank specializing in lending to tech start-ups, crypto companies, or law firms hardly seems of systemic importance, even if its failure would have caused disruption in some industries regionally and might have triggered a cascade

Stripped and Outnumbered: Compromising Guarantee Claims in a CVA 

A company voluntary arrangement (CVA) is a tool which has been widely utilised by companies seeking to restructure and compromise liabilities. In recent years CVAs have been in the limelight because of attacks by landlords who feel that they have

Student Loan IDR Changes (Good Ones!)

The post Student Loan IDR Changes (Good Ones!) appeared first on Kurt O’Keefe, Esq. | Detroit MI | Discharge Student Loans.

Weekly News – March 24

Tweet of the week SVB Financial Group fight over deposits… FDIC weighs in… Key Documents Silicon Valley Bank Resolution Plan Transfer Agreement between FDIC, as Receiver, and Silicon Valley Bridge Bank, NA Joint Statement by Treasury, Federal Reserve

FDIC's Poor Track Record in Holdco Bankruptcies

Last week I did a post about how the FDIC as receiver for Silicon Valley Bank probably doesn't have a claim against SVB Financial Group, the holdco of the bank. I got some pushback on that (including from a former...

Guide to Creditor Harassment Laws in New Jersey

If you have outstanding debt, you may be receiving countless phone calls from unknown parties claiming that you owe them. They may even threaten to sue you or initiate some other type of action against you. This behavior can be considered creditor

SVB Financial Group's Manhattan Venue

As I have previously blogged, SVB Financial Group seems to be trying to do venue by declaration. Consider the grounds for venue under 28 USC 1408 and how they apply to SVBFG: Location of principal place of business for majority...