News & Analysis as of

Bankruptcy Court Chapter 13

Stotler Hayes Group, LLC

Medical Debt and Bankruptcy: Myths, Realities, and Pathways to Relief

As one of the more toxic topics in the United States political and social realms, healthcare, and the debt associated with it, is always at the tip of most people’s tongue. Whether eagerly waiting to argue for proposed...more

Rosenberg Martin Greenberg LLP

Timing May Be Everything When Employing Bankruptcy Professionals

When Byron David filed a Chapter 7 bankruptcy case in July of 2018, Donald King was appointed Chapter 7 trustee. King filed an application to retain a law firm as his counsel. The bankruptcy court granted that application....more

Jones Day

Business Restructuring Review Vol. 23 No. 3 | May-June 2024

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In In re Pack Liquidating, LLC, 2024 WL 409830 (Bankr. D. Del. Feb. 2, 2024), the U.S. Bankruptcy Court for the District of Delaware ruled that, in accordance with Third Circuit precedent, the Bankruptcy Code, rather than...more

Jones Day

Cayman Islands Branch of FDIC-Insured U.S. Bank Ineligible for Chapter 15 Relief

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The Bankruptcy Code bars certain individuals or entities from filing for bankruptcy protection, generally because they do not reside or have a place of business or property in the United States, fail to satisfy certain debt...more

Seyfarth Shaw LLP

Budtender Bankruptcy Blindside

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In a recent legal development that underscores the intricate interplay between federal bankruptcy law and the cannabis industry, a court case has emerged involving a bankruptcy filing by an employee of a cannabis company....more

Foley Hoag LLP

Bankruptcy Appellate Panel Blocks Cannabis Employee’s Chapter 13 Relief but Rejects Bright-Line Bar of Eligibility to be a Debtor...

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In a March 2024 decision, the U.S. Bankruptcy Appellate Panel for the First Circuit (the “Panel”) followed existing case law prohibiting debtors in businesses related to cannabis from availing themselves of federal bankruptcy...more

Mintz

Recent Bankruptcy Court Decision Leaves the Door Open to Bankruptcy Relief for Those in the Cannabis Industry

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A Massachusetts Bankruptcy Court’s recent appellate decision in Blumsack v. Harrington (In re Blumsack) leaves the door open for those employed in the cannabis industry to seek bankruptcy relief where certain conditions are...more

Buckingham, Doolittle & Burroughs, LLC

Bankruptcy Chapter 11 Subchapter V Debt Eligibility Limit to Decrease to $2.7 million on June 21, 2024

Businesses in financial distress have multiple options to consider when attempting to reorganize or liquidate. A state court receivership or Chapter 7 Bankruptcy are likely options for liquidation when there are significant...more

Troutman Pepper

Idaho Bankruptcy Court Holds that Later-Recovered Assets Revert to Borrower Absent Plan Provision to the Contrary

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What happens to funds recovered by the trustee after the final plan payment is made in a chapter 13 case? According to the U.S. Bankruptcy Court for the District of Iowa, absent a plan provision providing otherwise, those...more

Jones Day

The Year In Bankruptcy: 2023

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One year ago, we wrote that 2022 would be remembered in the corporate bankruptcy world for the "crypto winter" that descended in November 2022 with the spectacular collapse of FTX Trading Ltd., Alameda Research, and...more

Patterson Belknap Webb & Tyler LLP

Bankruptcy Court Provides an Object Lesson to Practitioners: Return Your Client’s Calls

Judge Jacqueline P. Cox recently found that three Illinois attorneys violated their ethical obligations by failing to return their client’s phone calls. She thus ordered the attorneys to return half of their...more

King & Spalding

Sharp Teeth: Civil and Criminal Liability for Officers and Directors of Insolvent Saudi and UAE Companies

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The recent detention of a restructuring professional in the United Arab Emirates serves as a stark reminder that directors and officers of insolvent or distressed companies can face personal liability for their actions or...more

Dinsmore & Shohl LLP

Spotlight on Financial Services- Consumer bankruptcy

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Spotlight on Financial Services | Things happen very quickly in consumer bankruptcy filings. Dinsmore attorneys Edward J. Boll III, Esq. and Shannon O'Connell Egan work on a team that provides clients clear and concise...more

Miller Nash LLP

Oregon Bankruptcy Court Decides a Post-Foreclosure, but Post-Petition Eviction of a Borrower Violates the Automatic Stay

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On August 4, 2023, the bankruptcy court for the District of Oregon determined that proposed actions by a lender to enforce a pre-bankruptcy petition foreclosure judgment and evict a borrower—after the borrower filed for...more

Jones Day

Business Restructuring Review July-August 2023 | Vol. 22 No. 4

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There is longstanding controversy concerning the validity of third-party release provisions in non-asbestos trust chapter 11 plans that limit the potential exposure of various nondebtor parties involved in the process of...more

Jones Day

Illinois Bankruptcy Court: Whether Dispute Is Core or Non-Core Not "Bright Line" in Determining Enforceability of Arbitration...

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Whether a dispute that is subject to arbitration can or must be referred to arbitration after one of the parties to a prepetition arbitration agreement files for bankruptcy has long been a source of disagreement among...more

Mintz - Bankruptcy & Restructuring Viewpoints

SCOTUS Bankruptcy Decision Roundup

On average, the Supreme Court hears a single bankruptcy case each term. But during the October 2022 term, the Supreme Court issued a remarkable four decisions in bankruptcy cases. These decisions, which are summarized below,...more

Troutman Pepper

Supreme Court Holds Bankruptcy Code Abrogates Tribal Immunity

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In January, the U.S. Supreme Court agreed to hear Lac du Flambeau Band of Lake Superior Chippewa Indians v. Coughlin after the First Circuit barred the Lac du Flambeau Band from seeking to collect on a $1,600 debt obligation...more

Jones Day

Business Restructuring Review | May–June 2023 | Vol. 22 No. 3

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Section 363(m) of the Bankruptcy Code provides that the reversal or modification of an order approving a sale or lease of assets in bankruptcy does not affect the validity of the sale or lease to a good-faith purchaser or...more

Haynsworth Sinkler Boyd, P.A.

Don’t Forget! – the Importance of Filing Proofs of Claim

A recent case from the United States Bankruptcy Court for the Northern District of Indiana is a strong reminder to secured creditors of the importance of filing a proof of claim. In In re Ramirez Flores, 22-10010 (Bankr....more

Jenner & Block

April 2023 - Recent Developments in Bankruptcy Law

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AUTOMATIC STAY - 1.1 Covered Activities 1.1.a Court denies injunction against actions involving debtors’ affiliates. Shortly after filing their chapter 11 cases, the debtors in possession sought, in the alternative,...more

Jenner & Block

Compilation of Recent Developments in Bankruptcy Law - April 2023

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Recent Developments in Bankruptcy Law - Cumulative, through April 2023 - 1. AUTOMATIC STAY - 1.1 Covered Activities - 1.1.a Court denies injunction against actions involving debtors’ affiliates. Shortly after filing...more

Locke Lord LLP

Orlansky v. Quicken Loans, LLC & ‎Violations of the Automatic Stay

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Notices of filing bankruptcy from debtors to its creditors are intended to halt all collection efforts of prepetition debts. But where lenders are required by law to provide information to mortgagors who are debtors in...more

Smith Debnam Narron Drake Saintsing & Myers,...

Debtor Sanctioned with Dismissal of Case And 10-Year Bar to Refiling After Forging Letter to Mortgage Lender and Ignoring Court...

The U.S. Bankruptcy Court for the Eastern District of North Carolina recently granted a motion filed by the standing Chapter 13 Trustee (“Trustee”), seeking to have the Chapter 13 Bankruptcy case filed by the debtors Marcus...more

Nelson Mullins Riley & Scarborough LLP

Can You Chat Your Way to Relief from Stay?

Bankruptcy lawyers recently gained access to a promising technology for improving the efficiency of tasks like drafting a motion for relief from stay. ChatGPT allows users to employ generative artificial intelligence by...more

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