Skip to main content
Help Center
banner

ABI Blog Exchange

article-exchange

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

Read Article

What Happens To Your Bank Account in Chapter 13

Those considering filing a Chapter 13 bankruptcy worry about “what happens to my bank account?” Will the trustee take all the money? How do I pay my living expenses after I file? The short answer is: nothing changes. The account remains yours and

Grammar Dooms Innocent Spouse in Non-Dischargeability Case

While we often recite that bankruptcy is for the honest but unfortunate debtor, a new case from the Supreme Court shows that getting into bed or business with the wrong person can lead to a non-dischargeable debt for an innocent spouse. The case is

First Two Bankruptcy Opinions From The U.S. Supreme Court (Reily v. Lamar & U.S. v. Fisher)?

By: Donald L Swanson The U.S. Supreme Court issues its first-ever opinion—of any type—on August 3, 1791. [Fn. 1] But it does not address a bankruptcy question for quite some time thereafter. In fact, the first U.S. law on the subject of bankruptcy

Office Landlord Debt Defaults Rising as Remote Work Takes Hold

The New York Post is reporting that “A growing number of office landlords are defaulting on loan payments as the rise of remote work causes more corporate tenants to rethink long-term leases". The story can be found at https://nypost.com/2023/02/21

Can the Court Sanction a UK Restructuring Plan if the Company Does Not Consent to it?

Following the sanctioning of the Good Box restructuring plan (RP) it seems the answer is yes. This might sound surprising to those familiar with schemes of arrangement, because that outcome is at odds with the long-standing decision in Re Savoy

Can Bankruptcy Stop a Foreclosure on a Home in New Jersey?

Foreclosure is a legal process where a lender tries to recover the amount of money they are owed by taking ownership of a mortgaged home and selling it. Losing a home can be an extremely distressing experience for anyone. Thankfully, there are ways

Special Feature: Cliff White Speaks Up “Where Have All The Examiners Gone?”

Where Have All the Examiners Gone? By Clifford J. White III 1 The FTX bankruptcy case, FTX Trading Ltd., et al., case no. 22-11068 (Bankr. D. Del.) highlights several of the problems in mega-chapter 11 case administration that warrant further

HELP!!!! I Missed the Deadline to File a Claim!

Do you know what to do if you miss the bar date? I won’t sugar-coat this. If you missed the bar date and filed your claim late, your claim will most likely be disallowed. This is done for many reasons, not the least of which being that debtors rely

I Received a Notice of Bar Date – Now What?

How to Prepare and File a Proof of Claim Be sure to prepare your proof of claim accurately. - Adrienne Woods, Esq. In our last article My Customer Filed Chapter 11 – Do I Need to File a Proof of Claim? We discussed whether you need to file a proof of

Relief of Indebtedness Income and Workouts under Section 108 of the Internal Revenue Code

Relief of Indebtedness Income and Workouts under Section 108 of the Internal Revenue Code. Shenwick & Associates performs many workouts for clients, and one point that is often overlooked during negotiations is relief of indebtedness income. Section

US Supreme Court to hear argument in Gonzalez v Google, concerning tech company liability/lack of liability for harmful content

The Washington Post is providing a live stream of the argument: https://www.washingtonpost.com/technology/2023/02/21/gonzalez-v-google-… As of 10:08 am eastern standard time, Justice Gorsuch is scheduled to participate

Hard-Knocks Rule: Hiding True Reasons For A Position Can Backfire (In re Heaven’s Landing)

By: Donald L Swanson Here’s a hard-knocks rule: When you can’t or won’t explain the true reason for taking a position in negotiations or litigation, distrust and suspicion of the worst-possible motives will follow. An Exhibit A for this rule is an

The Texas Two-Step's New Key

In the wake of the Third Circuit's LTL Management decision many commentators wrote off the Texas Two-Step as dead. Turns out it's not, it's just playing out in a different key with a new filing in SDTX. On Feb. 13,...

SDNY Revisits Section 502(b)(6) Cap on a Landlord’s Claim for Rejection Damages

Judge Wilde's, a Bankruptcy Judge Revisits the Rent Cap Calculations allowed a Landlord under Section 502(b)(6) of the Bankruptcy Code. The article can be found at jdsupra at https://www.jdsupra.com/legalnews/sdny-revisits-rent-cap-calculations-a

New Jersey Foreclosure : Sheriff Sale Adjournment

Foreclosure is a legal process where a lender or creditor seeks to recover the outstanding balance of a mortgage loan from a borrower who has stopped making payments. In New Jersey, foreclosure proceedings are initiated by filing a complaint in the

More Californians Eligible For Expanded Pandemic Mortgage Relief Grants

Grants from California’s mortgage relief fund are now available to cover delinquent property taxes and defaults on second mortgages. The expanded eligibility includes those who have previously received grants. Almost $700 million remains in the fund

Weekly News – February 17

Featured Events Contributor Albanese speaks with Reuters about the gender gap We couldn’t have said it better Blackstone and King Street all-star alums team up to buy Celsius Jason New of NovaWulf on risk management Novawulf plan highlights Avaya

Purdue Pharma, oral argument held on April 29, 2022 (in corporate appeal to try to reverse district court refusal to release Sackler family), U.S. Court of Appeals for the Second Circuit

Here is a link to the oral argument, on YouTube: https://youtu.be/uQggxsCrIDI On April 29. 2022, the United States Court of Appeals for the Second Circuit held an oral argument during which Purdue Pharma bankruptcy estate attorneys tried to persuade

Guide to the Foreclosure Process in Pennsylvania

Keeping up with mortgage and loan payments is crucial to avoid foreclosure. If you find yourself in the middle of foreclosure proceedings, an attorney can help you through the process and protect your legal interests. Foreclosure is a legal process

Special Feature: Women in Credit

The Creditor Rights Coalition is proud to present our inaugural feature of Women in Credit. These “All-Star” experts debate bankruptcy tactics, where we are in the credit cycle, expected areas of activity in 2023, and career highlights. The Coalition