ABI Blog Exchange

How student loan debt became a trillion-dollar problem for Americans

See the post at https://www.cnn.com/2023/02/27/politics/us-student-loan-debt-timeline/i… Jim Shenwick, Esq. 917 363 3391 jshenwick@gmail.com At Shenwick & Associates we help people and businesses with too much debt! Please click the link to

NCAA’s Losing Streak In Court Continues . . . For Now (Johnson v. NCAA)

By: Donald L Swanson The National Collegiate Athletic Association (“NCAA”) and its member schools have not fared well in court. They tend to lose . . . a lot. And their loosing streak continues. The latest loss is in a lawsuit filed on November 6

In re FTX Trading Ltd., Second Interim Financial Update filed yesterday, link to the filing & some thoughts on the content & possible implications. Maybe rescue-by-sale of the FTX companies?

Here is a link to the document filed yesterday on the FTX chapter 11 docket, titled Second Interim Financial Update: https:/Second Interim Financial Update The filing will probably prompt a host of reactions, depending on perspectives. Here’s my

Wither Student Debt Cancellation? Conservative Justices Showed Determination but a Lack of Conviction

[by Dalié Jiménez and Jonathan Glater] Yesterday, the Supreme Court heard two cases challenging the constitutionality of the Biden administration’s plan for student debt cancellation. Suing to block the plan are a group of states that argue they will

February 2023 Ponzi Scheme Roundup

Posted by Kathy Bazoian Phelps Below is a summary of Ponzi scheme activity reported for February 2023. This month revealed at least 7 new Ponzi schemes, 2 guilty pleas and over 29 years of new prison sentences. The average age for the alleged Ponzi

Supreme Court Hears Biden Student Loan Forgiveness Case

Well, to be technical, as I usually am, the Court heard arguments Supreme Court today on the challenges to the Biden ten grand for everyone executive order. How did it go? The initial signs are ominous for the Biden administration, whose only real

How Does A NJ Chapter 13 Bankruptcy Work

If you are drowning in debt but aren’t eligible or shouldn’t file a Chapter 7 bankruptcy, a Chapter 13 bankruptcy might be for you. This blog will explain what a Chapter 13 bankruptcy is, who qualifies and what the process is like. Qualifications to

The Bankruptcy Judges of the Western District of Texas

The Western District of Texas crosses two time zones, has a population of 7.6 million and contains 93,000 square miles. It is larger than the State of Oklahoma but smaller than the State of New Mexico. It contains the 7th, 11th and 24th largest

Will Changes to the Option To Tax Regime Impact UK Insolvency Sales?

Where a commercial property is sold by a receiver or insolvency practitioner (IP), VAT must be charged on the sale if the owner had exercised and properly notified an option to tax (OTT) in respect of the property. The IP acting on behalf of the

Proposed UCC Amendments: Old Article 9 & New Article 12

By: Donald L Swanson Proposed amendments to the Uniform Commercial Code are being introduced, during January and February of 2023, as bills in state legislatures across the land. The Uniform Commercial Code (“UCC”) has been enacted, in some form, by

With bankruptcies expected to surge, here are 5 tips to stay solvent

Question: What do Akorn Pharmaceuticals and the Corner Bakery Café have in common? Answer: Both recently declared bankruptcy. The economic uncertainty brought on by the global pandemic has led to an increase in bankruptcy filings, with companies and

Continued Pain in the Retail Sector:  Coming Enforcement of Forced Labor Laws

After a pause in 2022, there has been much talk of the continuation, or resumption, of a wave of retail bankruptcy cases as we begin 2023. 2022 was highlighted by Revlon’s filing (discussed here: Revlon May Signal Another Wave of Retail Bankruptcies

Australian Insolvency Regimes Are Evolving Rapidly

The new year has seen a rapid pace being set in terms of anticipated and actual legislative, regulatory and common law changes across Australia’s restructuring and insolvency regimes. In our latest insight we flag potential changes to not only the

Falling behind on federal student loans can lead to other major financial problems according to CNBC

Falling behind on federal student loans can lead to other major financial problems A story on CNBC reports that "more than 80% of borrowers who experienced default stated that they’d faced at least one additional consequence as a result. The most

Supreme Court Confirms Nondischargeability of Debts Obtained by Fraud

Supreme Court Confirms Nondischargeability of Debts Obtained by Fraud

Weekly News – February 24

Upcoming Featured Event In with a bang out with a whimper SCOTUS rules on debtor discharge Celsius update: Novawulf plan on the hot seat Let’s get ready to rumble! Cineworld update: No soup for you! Surprise…. surprise…. surprise Avaya backstop in

Links to audio of oral argument before the U.S. Court of Appeals for the Third Circuit in the Texas Two Step appeal, In re LTL Management LLC, leading to dismissal of Johnson & Johnson talc bankruptcy case

Below are links to the publicly available audio of the oral argument on SoundCloud and YouTube. Link to audio on SoundCloud: https://soundcloud.com/court-audio/oral-argument-audio-before-the-us-co…

Oral argument audio before the U.S. Court of Appeals for the Third Circuit in the "Texas Two Step" appeal, In re LTL Management LLC, leading to dismissal of Johnson & Johnson talc bankruptcy case

Below are links to audio of the oral argument on SoundCloud and YouTube. SoundCloud link: https://soundcloud.com/court-audio/oral-argument-audio-before-the-us-co… YouTube link: https://youtu

BlockFi Bankruptcy Court Hearing Audio, February 21, 2023 (ahead of the upcoming 2/28/2023 BlockFi auction, and including discussion of the "wallet motion")

Link to the audio of the bankruptcy court hearing held in the BlockFi chapter 11 bankruptcy proceedings pending in the District of New Jersey as chapter 11 case 22-19361 (ahead of the upcoming February 28, 2023 BlockFi auction, and including