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ABI Journal

362

Secured Creditor Issues

Bankruptcy Code

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Freezing a Chapter 7 Debtor’s Bank Account Doesn’t Violate the Automatic Stay

SDNY opinion seems to mean that a bank may freeze a debtor’s entire bank account at filing, without violating the automatic stay.

Supreme Court Hears Argument on Good Faith as Defense to Discharge Violation

In Taggart v. Lorenzen, the justices sounded largely noncommittal, except for the Chief Justice, who seemed in the debtor’s camp favoring a stricter standard for contempt of the discharge injunction.

BAPCPA Limits Remedies Against Debtors Who Don’t Reaffirm or Surrender

Congress may have intended to preclude ‘stay and pay,’ but it didn’t succeed.