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] 11] Id. 15] Svenhard’s appealed. [16] 10] Id.

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ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff In cross-border insolvency proceedings, the power to obtain information through discovery is essential for recovering assets for creditors. Historic & Trophy Buildings Fund FCP-SIF (the “Debtor”) entered into a liquidation proceeding in Luxembourg. [1]

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ABI

JANUARY 13, 2021

American Bankruptcy Institute Law Review Staff. . In In re The Sunshine Group, LLC. , the United States Bankruptcy Appellate Panel of the Ninth Circuit affirmed the dismissal of a bankruptcy case because it was filed in bad faith. [1] 10] A bad faith filing of a bankruptcy petition is cause for dismissal. [11]

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PBWT

MARCH 28, 2022

As a result of Purdue Pharma’s proposed plan of reorganization, and the ongoing opioid epidemic that continues to grip the nation, the debate over non-consensual third-party releases has gone mainstream despite being a popular tool for debtors for decades. See 11 U.S.C. § § 524(g). 3d 1070 (11th Cir. 79 (E.D.

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Collection Industry News

OCTOBER 3, 2022

In the case of an appeal to a district court from a bankruptcy court, however, this statutory authority arguably conflicts with another statutory provision dictating that appeals from a bankruptcy court order or judgment be heard by a “district court” or a “bankruptcy appellate panel.” In Northern Pipeline Constr.

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ABI

JANUARY 12, 2022

American Bankruptcy Institute Law Review Staff. . Under title 11 of the United States Code (the “Bankruptcy Code”), a trustee or debtor in possession may avoid or recover certain payments made by the debtor before the bankruptcy filing as a “preference.” [1] John’s University School of Law.

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Jimerson Firm

FEBRUARY 10, 2022

Generally, if debtors owe a debt to a lender, and the lender cancels or forgives that debt for less than its full amount, the debtor is treated for income tax purposes as having income and may have to pay tax on this income by virtue of a 1099-C filing from the lender. See Caplinger v. 1099-C Issuance. For example, in Ware v.

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PBWT

JULY 8, 2020

These claims are entitled to priority for actual and necessary goods and services supplied to a debtor in bankruptcy. For a claim to qualify for administrative expense status, a debtor must request that the claimant provide goods and services post-petition or induce the claimant to do so. The first well was finished in 2015.

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ABI

JANUARY 12, 2022

American Bankruptcy Institute Law Review Staff. . In general, student loan debt is not dischargeable in a case under title 11 of the United States Code (the “Bankruptcy Code”) unless there is a showing of undue hardship. at *10–11. [ix] Joe Pizzingrillo. John’s University School of Law. at *12­–13.

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PBWT

MAY 14, 2021

In recognition of the 15th anniversary of the passage of chapter 15 of the Bankruptcy Code, the New York City Bar Association’s Bankruptcy & Corporate Reorganization Committee hosted a webinar on May 12, 2021 to discuss the current state of chapter 15 cases and potential, corresponding and significant future developments. [1]

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ABI

JANUARY 12, 2022

American Bankruptcy Institute Law Review Staff. . Section 524(g) of title 11 of the United States Code (the “Bankruptcy Code”) allows a debtor in a Chapter 11 case to establish a trust for the purpose of settling personal injury claims against the debtor based on exposure to asbestos-containing products. [1]

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In the Red

AUGUST 2, 2018

The twists and turns of the In re Tempnology LLC bankruptcy case have been a frequent subject on this blog for good reason. The case addresses whether a trademark licensee, whose licensor files bankruptcy and rejects the license agreement, retains any rights to use the trademark — or instead is out of luck. A Wild Ride.

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PBWT

AUGUST 29, 2021

1] In VeroBlue , the bankruptcy court entered an order confirming a plan that awarded control of the reorganized debtor to the majority equity holder, Alder Aqua, Ltd. provided by [Sponsor], one half was paid to [the pre-petition secured creditor], and [the Sponsor] assumed management of the reorganized Debtors. from the $13.5

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The Creditors Rights

MARCH 15, 2016

Congress enacted § 1328(f) of the Bankruptcy Code when its passed BAPCPA. This section prohibits the granting of a chapter 13 discharge if the debtor received a chapter 7 discharge within four years prior to the commencement of his chapter 13 case. The debtors filed a chapter 7 case and received a discharge. 3d 477 (9 th Cir.

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ABI

JANUARY 13, 2021

American Bankruptcy Institute Law Review Staff Member. . 2] The Second Circuit found that the Appellant’s wrongful death lawsuit should be stayed because the Debtor’s unintentional citation to language from an outdated agreement constituted a mistake rather than a judicial admission. [3] 11] See id. [12] By: Lianna Murphy.

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ABI

JANUARY 12, 2022

American Bankruptcy Institute Law Review Staff. . In In re Shoot the Moon, LLC , the United States Bankruptcy Court for the District of Montana held that a transaction between a restaurant business and a lender was a loan with a security interest in receivables as opposed to a sale with an ownership interest in receivables. [i]

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ABI

JANUARY 23, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Section 6015(f) of the Internal Revenue Code allows the Secretary of the Treasury to relieve an “innocent spouse” of liability for any unpaid tax or deficiency if it is inequitable to hold him or her liable for the malfeasance of his or her significant other. [1]

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The Creditors Rights

AUGUST 2, 2016

3d 1254 (11 th Circ. The United States District Court for the Southern District of Alabama subsequently held the Crawford decision as placing the FDCPA and the Bankruptcy Code in irreconcilable conflict. Midland Funding, LLC , 2016 WL 2996372 (11 th Cir. 3d 1313 (11 TH Cir. Crawford v. LVNV Funding, LLC , 758 F.3d

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Collection Industry News

JUNE 14, 2021

Some of the debts have been discharged in bankruptcy cases. Some companies buy old debt, collect what they can on it, and then – instead of canceling the debt, which they are supposed to do – they just sell the list of debtors to another company,” Morrissey said. Some of these debts are fictitious, and never were owed.

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Collection Industry News

OCTOBER 6, 2020

Investors didn’t even show much concern when, in early September, the Consumer Financial Protection Bureau sued Encore, saying that it had broken the terms of a consent agreement struck in 2015. The company is currently not seeking new orders to seize debtors’ wages or bank account funds, she said. cents on the dollar for each account.

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