News & Analysis as of

Consumer Bankruptcy

Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are... more +
Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are eligible for Chapter 7 or Chapter 13 depending on the nature of their debts and assets. less -
Troutman Pepper Locke

Arizona AG Pursues Fraudulent Real Estate Scheme Targeting Alleged Fraudsters, Title Companies, Attorneys, and Law Firms

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On March 7, Arizona Attorney General (AG) Kristin Mayes filed a novel lawsuit alleging consumer fraud and racketeering against numerous entities, individuals, and even law firms and title companies involved in the residential...more

Bowditch & Dewey

Broke and Broken Hearted – The Intersection of Bankruptcy and Divorce

Bowditch & Dewey on

Bankruptcy is the process where someone who is unable to pay their debts files a petition to discharge (eliminate) those debts or restructure the debt with a payment plan. But what happens if a bankruptcy petition is filed by...more

Hudson Cook, LLP

Vehicle Titles in the Age of the Internet

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Unlike most items of personal property, a motor vehicle usually has a certificate of title. We all know that the point of a vehicle title is to show who owns the vehicle and who (if anyone) has a lien on it....more

Falcon Rappaport & Berkman LLP

Creditor Alert: A Confession of Judgment Is Not Removable to Federal Court Based on a Related Bankruptcy Filing

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A recent decision from the Southern District of New York provides insight for creditors seeking to enforce judgments against debtors who subsequently file for bankruptcy. In Honeedew Investing LLC v. Abadi, No. 24 Civ. 6434...more

Bradley Arant Boult Cummings LLP

Tennessee Supreme Court Clarifies Standing Law and Eliminates Wrongful Foreclosure as a Cause of Action in a Big Win for Mortgage...

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Bradley scored a significant victory in the Tennessee Supreme Court on November 14, 2024. In a long-awaited decision, the Tennessee Supreme Court clarified a long-standing inconsistency in Tennessee law with its opinion in...more

International Lawyers Network

Bankruptcy, Insolvency & Restructuring Proceedings in Italy (Updated)

International Lawyers Network on

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER ITALIAN LAW - 1. Presentation of the judicial liquidation/ insolvency/ rehabilitation proceedings in Italy and their main characteristics. The...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Australia (Updated)

International Lawyers Network on

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER AUSTRALIAN LAW - Companies - Corporate insolvency in Australia mostly involves a company being placed in liquidation or administration. Companies...more

Stotler Hayes Group, LLC

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

Stotler Hayes Group, LLC on

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

Epiq

The Importance of Data Security in Bankruptcy Claims

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Data security is a major concern across virtually all areas of the legal profession particularly in 2024 thanks in part to a record-breaking number of cyber incidents last year that cost companies an average of $4.45 million...more

Troutman Pepper Locke

Fla. Bankruptcy Ruling Is Cautionary Tale for Debt Collectors

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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

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

Goodwin

CFPB Files Suit Against Student Loan Servicer

Goodwin on

On May 31, 2024, the CFPB announced that it had filed suit against a Pennsylvania-based student loan servicer for engaging in allegedly unfair, deceptive and abusive acts or practices in violation of the CFPA, 12 U.S.C. §§...more

Jones Day

Fifth Circuit: Preference Claims Are Property of the Bankruptcy Estate that Can Be Sold

Jones Day on

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

Troutman Pepper Locke

Should I Care That the Debtor Has Filed a Motion to Sell Its Assets? - Creditor’s Rights Toolkit

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Sales under Section 363 of the Bankruptcy Code have become commonplace in bankruptcy cases as a mechanism to liquidate a debtor's assets and maximize value for creditors. Selling the debtor's assets to a third party offers...more

Freeman Law

Preclusive Effect Of Bankruptcy Claims And Court Orders On Claims Objections

Freeman Law on

A recent issue surfaced in a Chapter 13 bankruptcy case related to a mortgage claim. The debtor had filed a previous bankruptcy case during which she had objected to the mortgage creditor’s claim. A hearing was set, but...more

Seyfarth Shaw LLP

Budtender Bankruptcy Blindside

Seyfarth Shaw LLP on

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

Troutman Pepper Locke

Consumer Financial Services 2023 Year in Review and A Look Ahead

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We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging...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

Adams & Reese

"The § 1111(b) Election: Overview, Considerations and Unique Issues in Subchapter V"

Adams & Reese on

Under § 506(a)(1) of the Bankruptcy Code, a secured creditor’s claim is secured only to the extent of the collateral’s value. Any amount over that value is bifurcated into a separate unsecured claim. Critically, if a...more

Ballard Spahr LLP

CFPB settles claims against operator of training program arising out of income share agreements

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The CFPB recently announced the settlement of a bankruptcy court adversary proceeding filed jointly with the Attorneys General of 11 states against Prehired, LLC (Prehired) and two affiliated companies (Prehired Affiliates)...more

Troutman Pepper Locke

Delaware Bankruptcy Court Enters $30M Stipulated Judgment Over Deceptive Student Loan Practices

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On November 20, Delaware Attorney General (AG) Kathy Jennings, along with the Consumer Financial Protection Bureau (CFPB) and 11 other states, announced a settlement in excess of $30 million with Prehired LLC and affiliated...more

Orrick, Herrington & Sutcliffe LLP

DOJ and DOE share success after first year of student loan bankruptcy discharge process

Orrick, Herrington & Sutcliffe LLP on

On November 16, the DOJ and DOE announced a successful first year of their new student loan bankruptcy discharge process during 2022. The discharge process extinguishes a borrower’s obligation to pay back either some or all...more

International Lawyers Network

Bankruptcy, Insolvency & Restructuring Proceedings in Italy (Updated)

International Lawyers Network on

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER ITALIAN LAW - 1. Presentation of the judicial liquidation/ insolvency/ rehabilitation proceedings in Italy and their main characteristics. The...more

Epiq

A Look Into 2023: What do the Bankruptcy Statistics Really Mean?

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It has been quite the interesting year in bankruptcy so far, with filings increasing in several chapters. Providing some market observations based upon the number of filings for commercial and consumer bankruptcy filings can...more

Pullman & Comley, LLC

BANKRUPTCY BEAT: Connecticut Supreme Court Rules that New Homestead Law Applies to Protect up to $250,000 in Equity in a Home from...

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In an important ruling for personal bankruptcy cases in Connecticut, the Connecticut Supreme Court has ruled that Connecticut’s new homestead law, which increased the exempt amount of a “homestead” from $75,000 to $250,000,...more

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