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Consumer Bankruptcy › Creditors

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

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

Jones Day

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

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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

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

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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

Adams and Reese LLP

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

Adams and Reese LLP 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

International Lawyers Network

Bankruptcy, Insolvency & Restructuring Proceedings in Italy (Updated)

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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

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

Freeman Law

Bankruptcy Schedules: Schedule J

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Continuing with our series on bankruptcy schedules, today we’ll look at Schedule J, which is used to provide information about your monthly expenses. Schedule J is usually not discussed without discussing it in conjunction...more

Nelson Mullins Riley & Scarborough LLP

Bankruptcy 101: Claims: Types and Priorities

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Bankruptcy Basics for New and Non-Bankruptcy Attorneys - 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...more

Freeman Law

Bankruptcy Schedules: Schedule F

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Continuing our series on bankruptcy schedules, Schedule F is used to list all of your general unsecured debts. General unsecured debts are those that are not secured by collateral and are not entitled to priority payment...more

Freeman Law

Bankruptcy Schedules: Schedule E

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Continuing our series on bankruptcy schedules, today we turn to Schedule E.  Schedule E is used to list all of your priority unsecured debts.  Although Schedule E is now combined with Schedule F, we will separate the two for...more

Freeman Law

Bankruptcy Schedules: Schedule D

Freeman Law on

Continuing on with our series on Bankruptcy Schedules, today we’ll look at Schedule D, which is used to list all of the secured debts that you owe as of the date that you filed for bankruptcy.  Secured debts are those that...more

Troutman Pepper

9th Circ. Ruling Clarifies Homestead Exemption Ambiguities

Troutman Pepper on

Suppose you are a lender or credit provider to California consumers. At the start of the pandemic, one of your customers runs up $50,000 in debt and fails to pay. You obtain a judgment and secure it by recording an...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

Patterson Belknap Webb & Tyler LLP

Late Appeals and Excusable Neglect: A Curious Case Where a Court Gives an Individual a Break

Patterson Belknap Webb & Tyler LLP on

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

Nelson Mullins Riley & Scarborough LLP

Bankruptcy 101: Bankruptcy Cases, Adversary Proceedings, and Contested Matters - Bankruptcy Basics for New and Non-Bankruptcy...

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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

Jenner & Block

Compilation of Recent Developments in Bankruptcy Law - January 2023

Jenner & Block on

1. AUTOMATIC STAY - 1.1 Covered Activities - 1.1.a Court declines to enjoin third party claims against the debtor’s jointly liable parent corporation. The debtor manufactured earplugs for many years. A major...more

Jenner & Block

Recent Developments in Bankruptcy Law, January 2023

Jenner & Block on

1. AUTOMATIC STAY - 1.1 Covered Activities - 1.1.a Court declines to enjoin third party claims against the debtor’s jointly liable parent corporation. The debtor manufactured earplugs for many years. A major multinational...more

Seward & Kissel LLP

Crypto implosion? EV C7, the Perelman Polka, bankruptcy bellwethers?

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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

Arnall Golden Gregory LLP

You Never Give Me Your Money: Initial Recipient of Funds is Not Always a “Transferee” Liable for Fraudulent Transfers

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In a recent summary order in an appeal from a bankruptcy court, the United States Court of Appeals for the Second Circuit reaffirmed that mere receipt of a fraudulent transfer is not always sufficient to render the recipient...more

Arnall Golden Gregory LLP

Restructuring Roundup - March 2022

Arnall Golden Gregory LLP on

AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more

Nelson Mullins Riley & Scarborough LLP

Bankruptcy 101: The “Estate” and “Property of the Estate” - Bankruptcy Basics for New and Non-Bankruptcy Attorneys

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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

Arnall Golden Gregory LLP

Do You Get To Keep Your Roth IRA Even if You File Bankruptcy? In Georgia, Yes, Says the Eleventh Circuit

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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

International Lawyers Network

Bankruptcy Proceedings in the United States (Updated)

International Lawyers Network on

General Overview of the Primary Protection Granted to a Debtor Under the United States Bankruptcy Code - The United States Bankruptcy Code, through its various chapters, governs bankruptcy and reorganization for...more

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