Burr Forman

JANUARY 18, 2023

On January 11, 2023, the Third Circuit held that attempting to collect on a default judgment did not constitute using "'false, deceptive, or misleading' representations in connection with collecting the judgment" if the default judgment was later vacated. 21-3307, 2023 WL 154970, at *1 (3rd Cir. FBCS, Inc. ,

Judgment 52

Judgment Fair Debt Collection Collections 52

ABI

JANUARY 25, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Section 363 of title 11 of the United States Code (the “Bankruptcy Code”) allows a debtor to sell its bankruptcy assets free and clear of liens and interests only if certain circumstances are met. [1] 22] [1] See 11 U.S.C. § 363 (2023). [2]

Debtor 40

Debtor Bankruptcy Judgment Trade 40

ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Section 1112(b) of title 11 of the United States Code (the “Bankruptcy Code”) provides that a chapter 11 case may only be dismissed for cause. [1] Daniella Sesto St. 4] Aearo sold these earplugs to the United States Military. 10] The U.S.

Debtor 40

Debtor Bankruptcy Judgment Creditors 40

Troutman Sanders

JANUARY 25, 2024

The law will take effect on February 11, 2024. For example, in April 2023, Visa announced that it reduced the maximum amount retailers can charge for using their cards from 4% to 3%. Merchants who violate the law could face a civil penalty of up to $500 per violation. Credit card surcharges have come under attack by the card networks.

Retail 98

Retail 98

ABI

JANUARY 19, 2024

8] In 2022, while the appeal was pending, Endo and certain affiliates filed voluntary petitions for bankruptcy under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of New York. [9] 22-5137, 2023 WL 5490337, at *1 (D.C.

Bankruptcy 40

Bankruptcy Manufacturing Debtor Government 40

ABI

JANUARY 22, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Section 1112 of title 11 of the United States Code (the "Bankruptcy Code") provides that upon request from a party in interest, a bankruptcy court may dismiss a chapter 11 case for "cause." [1] 20] [1] 11 U.S.C. 20] [1] 11 U.S.C.

Bankruptcy 40

Bankruptcy Debtor 40

Collection Industry News

JANUARY 27, 2024

Courts, annual bankruptcy filings totaled 452,990 in the year ending December 2023, compared with 387,721 cases in the previous year. Courts, annual bankruptcy filings totaled 452,990 in the year ending December 2023, compared with 387,721 cases in the previous year. Total bankruptcy filings rose 16.8 Business filings rose 40.4

Bankruptcy 40

Bankruptcy Collections 40

Collection Industry News

JANUARY 6, 2024

US bankruptcy filings rose 18% in 2023 due to higher interest rates, tougher lending standards, and the continued end of pandemic-era support measures, according to data from bankruptcy data provider Epiq AACER. According to the data published on Wednesday, the total bankruptcy filings rose to 445,186 in 2023 from 378,390 in 2022.

Bankruptcy 40

Bankruptcy Collections Education 40

ABI

JANUARY 19, 2024

1] The safe harbor rule set out in Section 546(e) of Title 11 of the United States Code (the “Bankruptcy Code”) provides, in part, that a trustee may not avoid a transfer made before the commencement of the case in connection with a securities contract, as defined in Section 741(7), made by, to, or for the benefit of a financial institution. [2]

Bankruptcy 40

Bankruptcy Financial Institution Loans Banks 40

Consumer Finance Watch

JANUARY 17, 2023

New York Law Journal, January 11, 2023 Diana M. Eng and Andrea M. Roberts ● On Dec. 30, 2022, Gov. Hochul signed the Foreclosure Abuse Prevention Act (Act).

Foreclosure 52

Foreclosure 52

ABI

JANUARY 28, 2024

3] In 2007, Purdue began facing a number of claims from states and individuals, and at the same time, distributed approximately $11 billion to Sackler Family Trusts. [4] 5] On September 15, 2019, Purdue filed a voluntary petition under chapter 11 of title 11 of the Unted States Code (the “Bankruptcy Code”). [6] 11] Id.

Bankruptcy 40

Bankruptcy Debtor Creditors Government 40

ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Under section 503(b) of Title 11 of the United States Code (“Bankruptcy Code”), allowed administrative expenses have priority status in receiving distributions from the bankruptcy estate. [1] 21-00863, 2023 U.S. 3, 2023). [2] 11] Id.

Bankruptcy 40

Bankruptcy Debtor Manufacturing 40

ABI

JANUARY 19, 2024

6] Under section 1521(a)(4) of title 11 of the United States Code (the “Bankruptcy Code”), a foreign representative can seek recognition in a U.S. 6] Under section 1521(a)(4) of title 11 of the United States Code (the “Bankruptcy Code”), a foreign representative can seek recognition in a U.S. 25, 2023). [2] 1521(a)(4)). [8]

Bankruptcy 40

Bankruptcy Debtor Creditors 40

ABI

JANUARY 28, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff One of the requirements a debtor must meet in order to be eligible for Subchapter V of Chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) is that it must be "engaged in commercial or business activities." [1] 22-10175, 2023 Bankr.

Debtor 40

Debtor Bankruptcy Unsecured Debt Creditors 40

BN Lawyers

JUNE 1, 2023

On May 2, 2023, Paul Hammer gave a CLE through Strafford Publications entitled “Chapter 11 First-Day Motions: Continuing Ordinary Operations, Securing Financing, Paying Essential Creditors, and More”. Mr. Hammer was selected to serve on a distinguished panel including attorneys from several AMLAW 100 law firms.

Bankruptcy 40

Bankruptcy Law Firms Creditors 40

ABI

JANUARY 19, 2024

In evaluating the Texas Business & Commerce Code and title 11 of the United States Code (the “Bankruptcy Code”), the United States Bankruptcy Court for the Southern District of Texas, in In Re Burts Construction, Inc., 2] In 2022, the Debtor commenced a chapter 11 bankruptcy case. [3] 2023) [2] Id. [3] 1] In re Burts Constr.,

Secured Creditor 40

Secured Creditor Bankruptcy Debtor Collateral 40

ABI

JANUARY 19, 2024

3] On June 6, 2022, the debtor filed for bankruptcy under Chapter 13 of title 11 of the United States Code (the “Bankruptcy Code”) and gave the creditor’s foreclosure counsel notice of the bankruptcy filing. [4] 22-40694, 2023 WL 3331554 (Bankr. May 9, 2023). [2] 11] Id. [12] 20-6167, 2023 WL 3011246, at *2 (Bankr.

Foreclosure 40

Foreclosure Debtor Bankruptcy Creditors 40

ABI

JANUARY 23, 2024

10] Thereafter, the Foreign Representatives served a subpoena (the “Subpoena”) on Davies by email and Twitter on January 5, 2023. [11] 10] Thereafter, the Foreign Representatives served a subpoena (the “Subpoena”) on Davies by email and Twitter on January 5, 2023. [11] citizen residing abroad. [9] discovery questions.” [15]

Bankruptcy 40

Bankruptcy Debtor Trade Judgment 40

ABI

JANUARY 23, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Section 365(a) of title 11 of the United States Code (the "Bankruptcy Code") allows a bankruptcy trustee to assume and assign an executory contract of the debtor. [1] EC-23-1001-GLB, 2023 Bankr. 29, 2023). [2] 11] Id. at *13–14. [3]

Unsecured Creditor 40

Unsecured Creditor Bankruptcy Debtor Creditors 40

Fico Collections

DECEMBER 1, 2022

4 AI Predictions for 2023: From the Great Correction to Practical AI. A pragmatic approach I call Practical AI will rise in 2023 like a phoenix from the ashes of years of irrational exuberance around artificial intelligence. Tue, 07/19/2022 - 16:11. Thu, 12/01/2022 - 11:05. JessicaButalla@fico.com. by Scott Zoldi.

Government 98

Government Lender Banks Collections 98

Collection Industry News

DECEMBER 10, 2023

US bankruptcy filings rose 18% in 2023 due to higher interest rates, tougher lending standards, and the continued end of pandemic-era support measures, according to data from bankruptcy data provider Epiq AACER. The report said commercial Chapter 11 business reorganisation filings increased by 72% in 2023, while consumer filings rose by 18%.

Bankruptcy 40

Bankruptcy Banks Trade Lender 40

UK debt collections

JULY 29, 2023

Compared to the underwriter’s early 2022 survey, conducted before the outbreak of war in Ukraine, the share of respondents expecting an increase in export non-payment risk this year rose 11 percentage points to 40%. In this context, they are clearly bracing for longer export payment terms and higher non-payment risk in 2023,” she says.

Trade 52

Trade Banks Loans 52

UK debt collections

FEBRUARY 11, 2024

Latest UK Finance data has indicated that homeowner mortgages in arrears rose by 7 per cent (93,680) in the final quarter of 2023 compared to the previous quarter. 500 buy-to-let mortgaged properties were taken into possession in Q4, 11 per cent greater than the previous quarter. This is up from 36 per cent in September 2023.

Repossession 93

Repossession Lender Government Banks 93

UK debt collections

JANUARY 31, 2024

Oliver Collinge, a director at restructuring and insolvency firm, PKF GM, said: ‘There is no doubt that higher interest rates and continuing cost pressures have seriously impacted many UK businesses, with one in 186 active companies entering insolvent liquidation in 2023 – the highest rate seen since Q3 2014.

Trade 75

Trade Government Banks Bankruptcy 75

ABI

JANUARY 24, 2024

11] Thus, the bankruptcy court held that PSE&G’s amended proof of claim sought an amount that was more than what was in the original proof of claim and denied the motion for leave to amend the proof of claim. [12] 16-11501 (CTG), 2023 Bankr. 28, 2023). [2] 11] Id. [12] 1] In re Maxus Energy Corp., at slip op.

Bankruptcy 40

Bankruptcy Debtor Creditors Government 40

ABI

JANUARY 19, 2024

1] Before the trials concluded, Free Speech Systems filed for bankruptcy under Subchapter V of Chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the Southern District of Texas. [2] 2] A Subchapter V case differs from a traditional Chapter 11 case in several ways. 7] 11 U.S.C. 8] 11 U.S.C.

Bankruptcy 40

Bankruptcy Debtor Creditors Unsecured Debt 40

Troutman Sanders

OCTOBER 16, 2023

On October 11, the Federal Trade Commission (FTC) announced a new proposed rule to prohibit junk fees, which are hidden and bogus fees that can harm consumers and undercut honest businesses. On October 11, the Securities and Exchange Commission (SEC) informed the U.S. On October 11, B25-0449 was signed by Mayor Muriel Bowser (D).

Financial services 52

Financial services Student loans Student Loans Credit Unions 52

Credit Corp

OCTOBER 6, 2023

Between the first quarters of 2022 and 2023, The Federal Reserve Bank of New York reported that the credit card debt in America rose by $145 billion. As of June 2023, we saw a 12-month inflation increase of 3%, the smallest year-over-year increase since March 2021. The following table is based on data from July 2023.

Credit Card Debt 98

Credit Card Debt Debt Consolidation Credit Unions Credit Unions 98

ABI

JANUARY 28, 2024

5] The General Contractor sued the Subcontractor-Debtor in February 2023, but that lawsuit was stayed when the Subcontractor-Debtor filed for bankruptcy shortly after the suit was commenced. [6] 23-10096, 2023 WL 3010073 (Bankr. 19, 2023). [2] 11] Id. 18] [1] See In re Sahene Constr., 3] See id. [4]

Debtor 40

Debtor Construction Bankruptcy Judgment 40

ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Section 524(a) of Title 11 of the United States Code (the “Bankruptcy Code”) provides that a debtor may be discharged (i.e., 24] [1] 11 U.S.C. § 24] [1] 11 U.S.C. § 24] [1] 11 U.S.C. § 24] [1] 11 U.S.C. § Delanie Fico St. 26, 2022). [7]

Creditors 40

Creditors Bankruptcy Debtor Collections 40

ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Title 11 of the United States Code (the “Bankruptcy Code”) provides under section 365(a) that a debtor in possession may, “subject to the court’s approval… assume or reject any executory contract or unexpired lease of the debtor.” [1] Declan Considine St.

Bankruptcy 40

Bankruptcy Acquisition Debtor Collections 40

UK debt collections

MAY 23, 2022

The company says the global factors will likely push business insolvencies up significantly in 2022, followed by a further 4% increase in 2023. While the UK will reach its pre-pandemic business failure level before its European counterparts, the trade credit insurer expects them to post sharper increases in 2023 as state support is withdrawn.

Trade 59

Trade Construction Government 59

ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Section 363(b) of title 11 of the United States Code (the “Bankruptcy Code”) provides that bankruptcy courts may authorize the trustee of a debtor to sell or lease property of the bankruptcy estate. [1] 1] 11 U.S.C. § 927, 933 (2023). [4]

Bankruptcy 40

Bankruptcy Debtor Government 40

ABI

JANUARY 23, 2024

1] Section 505(a) of title 11 of the United States Code (the “Bankruptcy Code”) allows bankruptcy courts to determine the “legality of any tax, or penalty relating to a tax” regardless of whether it was previously contested before a judicial or administrative tribunal, so long as it has not already been adjudicated. [2] 2] 11 U.S.C. §

Debtor 40

Debtor Bankruptcy 40

ABI

JANUARY 19, 2024

While the arbitration was pending, Debtor filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code, which resulted in a stay of the arbitration. [7] 26] [1] 11 U.S.C. § 23] 11 U.S.C. § Matthew Hanauer St. 2] In some instances, the amount of a cure claim may be disputed. 365(b)(1)(A)–(C). [2] 503(b); Id. §

Debtor 40

Debtor Bankruptcy Unsecured Creditor Retail 40

Fico Collections

NOVEMBER 21, 2022

FICO Ranks Top 5 in the 2023 Chartis RiskTech100® Report. FICO awarded first place in six categories on risk and compliance technology in the 2023 Chartis RiskTech100 ® Report, including Innovation for the sixth year in a row. Mon, 11/21/2022 - 20:30. asokolowski. Fri, 06/03/2022 - 12:24. by Darryl Knopp.

Financial Institution 52

Financial Institution Retail Government 52

Fico Collections

FEBRUARY 22, 2023

The Financial Conduct Authority’s (FCA) Consumer Duty rules, which will apply to new and existing products or services that are open to sale or renewal and come into force on 31st July 2023, require financial institutions to act to deliver good outcomes for customers.

Financial Institution 52

Financial Institution Retail Financial services Consumer Credit 52