Spotlight on Financial Services- Consumer bankruptcy
Common Benefits Issues in Bankruptcy
Nota Bene Podcast Episode 132: 2021 Business Bankruptcy Trends with Ori Katz
Straddle-Year Tax Debts in Bankruptcy: Does the King Get Paid First? [More with McGlinchey, Ep. 14]
Polsinelli Podcasts - Supreme Court Closes Gap on Bankruptcy Issue
Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling
Bill on Bankruptcy: Lawyers Easily Make Simple Words Complicated
Bill on Bankruptcy: ResCap Report, a Bargain at $83 Million
Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing
In the case of In re: McIntosh, a debt purchaser’s assertion that it was entitled to enforce a debt not correctly listed on the debtor’s bankruptcy schedules was met with significant pushback from the U.S. Bankruptcy Court...more
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
A debtor's non-exempt assets (and even the debtor's entire business) are commonly sold during the course of a bankruptcy case by the trustee or a chapter 11 debtor-in-possession ("DIP") as a means of augmenting the bankruptcy...more
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
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
In a unanimous decision, the U.S. Supreme Court held that Section 523(a)(2)(A) of the U.S. Bankruptcy Code precludes a debtor from discharging a debt obtained by fraud, regardless of the debtor's own culpability. ...more
Persuading a bankruptcy judge to find “excusable neglect” after missing a filing deadline is usually a tough sell. You’d think it would be particularly hard when the party seeking relief was “belligerent and disrespectful to...more
This entry is part of Nelson Mullins’s ongoing “Bankruptcy Basics” blog series that is intended to address foundational aspects of bankruptcy for new and non-bankruptcy practitioners and professionals. This entry will discuss...more
A debt “for money, property, services, or an extension [. . .] of credit, to the extent obtained by [. . .] actual fraud,” is not dischargeable in a chapter 7 bankruptcy case. Courts have questioned whether this applied if...more
The Means Test was a change that was added by the 2005 changes to the bankruptcy law. It’s designed to force those that make over a certain amount to file a Chapter 13 bankruptcy instead of Chapter 7 under the theory that if...more
Below is our initial take on recent bankruptcy-related developments: Celsius Networks, a crypto lending platform that has marketed itself as an alternative to the traditional banking model, does not offer its users any...more
This entry is part of Nelson Mullins’s ongoing “Bankruptcy Basics” blog series that is intended to address foundational aspects of bankruptcy for non-bankruptcy practitioners and professionals. This entry will explain the...more
In an issue of first impression, the Eleventh Circuit Court of Appeals has ruled that a Roth IRA is not property of a bankruptcy estate in Georgia. Hoffman v. Signature Bank of Georgia, Case No. 20-12823 (11th Cir. Jan. 24,...more
My most recent post surveyed situations in which a debtor might lose assets, or see their value drop to zero, during a bankruptcy case. This article addresses the opposite circumstance: how might a debtor’s estate gain new...more
In this podcast, JAMS neutrals Judge Joan Feeney and Judge Phillip Shefferly share their thoughts on why mediation is a good tool to resolve bankruptcy disputes, provide listeners with a look into their own approaches to...more
In its recent decision in Mitchell v. Zagaroli, Adv. Pro. No. 20-05000, 2020 WL 6495156 (Bankr. W.D.N.C. Nov. 3, 2020), the Bankruptcy Court for the Western District of North Carolina held that the Chapter 7 trustee could...more
When an individual files a Chapter 7 bankruptcy case, the debtor’s non-exempt assets become property of the estate that is used to pay creditors. “Property of the estate” is a defined term under the Bankruptcy Code, so a...more
In re Brace, 470 P.3d 15 (Cal. 2020), a California married couple acquired real property with community funds, and took title as “husband and wife as joint tenants.” When the husband filed a chapter 7 petition in bankruptcy,...more
Filing a reaffirmation agreement in a chapter 7 bankruptcy proceeding is a commonplace occurrence for many attorneys. However, the reaffirmation process is fraught with nuances and traps for the unwary attorney. Absent...more
In Michigan, the general rule is that only a real party in interest may initiate a lawsuit. MCR 2.201(B). Although it is usually easy to identify the proper party (or parties), it becomes harder if a would-be plaintiff files...more
Trying to collect money from someone who cannot or will not pay you is frustrating. That old chestnut about throwing good money after bad comes to mind. Placing an individual or firm (your “debtor”) into bankruptcy is a...more
Consumers that have pending Chapter 13 bankruptcy cases undoubtedly suffered from financial hardship prior to the COVID-19 pandemic. For many of those consumers, the pandemic may have exacerbated that hardship...more
Last month the First Circuit Court of Appeals became the first federal appellate court to take up the matter of whether college tuition paid for an adult child by a bankrupt parent constitutes a fraudulent transfer. Chief...more
In a case that could impact health care bankruptcies, where jurisdiction over Medicaid and Medicare claims in bankruptcy are often disputed, the Fifth Circuit, in In re Benjamin v. U.S. Social Sec. Admin., Case No. 18-20185,...more
Military veterans often pay a heavy toll for their service from a physical, emotional and even financial standpoint. A new federal law— the Honoring American Veterans in Extreme Need Act of 2019 or the HAVEN Act— aims to...more