ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff Article I, Section 8, Clause 4, of the United States Constitution contains the “Bankruptcy Clause,” which vests Congress with the power to establish “uniform Laws on the subject of Bankruptcies throughout the United States.” [1] 11] In Siegel v.

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Bankruptcy Debtor Creditors 40

PBWT

APRIL 6, 2021

It is well-settled that if you are a debtor in chapter 11, you do not have the unfettered right to convert the case to a chapter 7 liquidation. The debtor had married into a family that owned real estate assets in New Mexico, Colorado and Arizona and lived off income from two spendthrift trusts formed by his late wife.

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Roths Child Law

NOVEMBER 7, 2020

Supreme Court unanimously ruled in 2017. Santander bought the debt from a financier going through bankruptcy, which made Santander the owner of the debt. Bankruptcy filings stop debt collections. The case illustrates how a bankruptcy filing can put an end to harassing calls and help individuals in financial difficulty.

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PBWT

MAY 4, 2021

Debtors who ignore instructions from the Bankruptcy Court do so at their own peril, as a recent case from the First Circuit Court of Appeals illustrates. ” [1] Otherwise, debtors risk dismissal of their petition and denial of a discharge.

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ABI

JANUARY 13, 2021

American Bankruptcy Institute Law Review Staff Member. . Under title 11 of the United States Code (the “Bankruptcy Code”), a trustee appointed to a debtor’s estate may avoid transfers made within two years before the date of the filing if the debtor received less than reasonably equivalent value in exchange. [i]

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Debtor Bankruptcy Unsecured Creditor Healthcare 40

ABI

JANUARY 24, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff In In re Maxus Energy Corporation , the United States Bankruptcy Court for the District of Delaware held that PSE&G could not file an amended proof of claim years after the bar date had passed on its timely-filed proof of claim. [1]

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PBWT

FEBRUARY 1, 2021

Bankruptcy Judge Karen B. Ruling on plaintiff-debtor Southland Royalty Company LLC’s motion for partial summary judgment, Judge Owens found that Halliburton did not obtain a lien on Southland’s production of oil, natural gas, or their proceeds. Perfect your liens on time or you may lose them. in her recent decision.

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ABI

JANUARY 12, 2022

American Bankruptcy Institute Law Review Staff. . . In 2017, Congress enacted certain amendments (the “2017 Amendment”) that increased the quarterly fees to be paid by debtors to the Office of the United States Trustee in larger cases pending under Chapter 11 of the United States Code (the “Bankruptcy Code”). [1]

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ABI

JANUARY 13, 2022

American Bankruptcy Institute Law Review Staff. . In general, a successful case under Chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) culminates in confirmation of a plan of reorganization, pursuant to which the debtor’s liabilities will be addressed. Victoria Giorgio.

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ABI

JANUARY 20, 2020

American Bankruptcy Institute Law Review, Staff Member. . In general, a debtor may reject an executory contract subject to court approval under section 365 of title 11 of the United States Code (the “Bankruptcy Code”). John’s University School of Law. 1] In In re PG&E Corp. Energy Regulatory Comm’n, Adv. (

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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. 1:11–cv–72, 2012 WL 1098619, at *7 (W.D.N.C. Bank of Am. ,

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ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff In the U.S. Bankruptcy Code, there are various provisions that allow debtors and trustees to avoid certain types of prepetition transfers. [1] 7] In 2017, Sun Capital caused BWGS and Intermediate Holding to repay the bridge loan in full.

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ABI

MARCH 9, 2020

Bankruptcy Court May Refrain from Enforcing a Valid Arbitration Clause. . American Bankruptcy Institute Law Review Staff. . Generally, a court will enforce an arbitration clause in a contract, but may refrain from doing so under certain circumstances. [1] By: Laila Rizk. John’s University School of Law.

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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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Debtor Bankruptcy Creditors Trade 65

ABI

JANUARY 12, 2022

American Bankruptcy Institute Law Review Staff. . . Generally, student loan debt will not be discharged in a case under title 11 of the United States Code (the “Bankruptcy Code”) unless there is a showing of “undue hardship on the debtor and debtor’s dependents.” Julia Merani. 1] In Hull v.

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Student loans Student Loans Loans Debtor 45

PBWT

JULY 1, 2020

As retail and other tenants fall further behind on rent and other obligations, lessors are finding themselves drawn into more and more Chapter 11 bankruptcy cases. Yet, while it may not always feel that way to them, landlords actually have it better than most creditors in bankruptcy.

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Collection Industry News

DECEMBER 21, 2020

Court of Appeals for the Ninth Circuit recently reversed an award of summary judgment in favor of a defendant debt collector against claims that it violated the federal Fair Debt Collection Practices Act (FDCPA) by attempting to collect a debt that was discharged in bankruptcy and no longer owed. Wells Fargo Bank , N.A., 3d 502 (9th Cir.

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Bankruptcy Chapter 13 bankruptcy Law Firms Debtor 40

ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Law Review Staff Under section 548 of title 11 of the United States Code (the “Bankruptcy Code”), a trustee may avoid any transfer or obligation incurred if the debtor had actual intent to hinder, delay, or defraud creditors. [1] 30] [1] 11 U.S.C. §

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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] Tags: Consumer Bankruptcy Joe Pizzingrillo. John’s University School of Law.

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Student loans Student Loans Loans Bankruptcy 40

PBWT

FEBRUARY 25, 2021

Does a debtor’s pre-petition change of the beneficiary of a life insurance policy constitute a “transfer” of an interest of the debtor in property? Bankruptcy Court for the Eastern District of North Carolina, which held earlier this week that such transfers do not “diminish” the estate. [1]

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Debtor Bankruptcy 52

ABI

JANUARY 12, 2022

American Bankruptcy Institute Law Review Staff. . LLC , the United States Court of Appeals for the Third Circuit held that sections 503 and 1141 of Title 11 of the United States Code (the “Bankruptcy Code”) authorize bankruptcy courts to set deadlines (i.e., 1] In March 2017, Westinghouse Electric Co., In Ellis v.

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Consumer Financial Services Law

FEBRUARY 9, 2017

A Virginia bankruptcy court recently ruled that an objection to a proof of claim was not barred by the doctrine of res judicata when an order of confirmation was entered prior to the objection being filed. 27, 2017) [Dkt No. The debtor’s Chapter 13 plan was confirmed after the filing of the proof of claim. In re Haskins, No.

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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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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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Debt collector Judgment Collections Collection Companies 40

ABI

JANUARY 22, 2020

American Bankruptcy Institute Law Review Staff. . Under section 109 of title 11 of the United States Code (the “Bankruptcy Code”), a person is generally eligible to be a debtor. [1] 2] A corporation includes a business trust, which is not defined by the Bankruptcy Code. [3] 1] See 11 U.S.C. §

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