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2020 12

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Amendments To The Federal Rules Of Bankruptcy Procedure Take Effect December 1, 2020

In the Red

NOVEMBER 23, 2020

Each year amendments are made to the rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The amendments address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. The rule amendments are ultimately adopted by the U.S.

Bankruptcy

Bankruptcy Government Debtor Creditors

Debtors do not have the Burden to Prove Section 523(a)(8) applies to their Loans

ABI

JANUARY 13, 2022

American Bankruptcy Institute Law Review Staff. . Section 523 of Title 11 of the United States Code (the “Bankruptcy Code”) generally provides that a student loan cannot be discharged unless it would impose “undue hardship” on the debtor. [1] Kimberly Lee. John’s University School of Law. 16] . . [1] 523(a)(8). [2]

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Trending Sources

Personal Insolvency rising sharply according to new figures

UK debt collections

NOVEMBER 16, 2023

The personal insolvencies consisted of 703 bankruptcies, 3,245 debt relief orders (DROs) and 5,933 individual voluntary arrangements (IVAs). DRO and bankruptcy numbers were higher than last year, with DROs in October 2023 being 71% higher than in October 2022, although the number of bankruptcies remained well below pre-2020 levels.

Bankruptcy

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The NAACP Wants In On the Purdue Pharma Bankruptcy. Will the Court Allow It?

PBWT

AUGUST 13, 2020

On Friday August 7th, the NAACP filed a motion to intervene in the chapter 11 bankruptcy cases of Purdue Pharma L.P. and its affiliated debtors (collectively, “ Debtors ”). [1] However, the NAACP does not appear to rely on this strategy as frequently in the bankruptcy context under Bankruptcy Rule 2018.

Bankruptcy

Bankruptcy Debtor Lawyers Government

A Guide To Bankruptcy And How Long It Stays On Your Credit Report

Hudson Weir

JULY 11, 2022

In recent articles, we’ve covered insolvency in great detail, but what is bankruptcy and is it any different? The bankruptcy rate in the UK had been increasing steadily in recent years. However, this trend reversed in 2020. So, what is bankruptcy exactly? How long does bankruptcy stay on your credit report in the UK?

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A Cogent Opposing View on SBRA Flexibility

PBWT

AUGUST 24, 2020

I don’t know if Congress foresaw, when it enacted new Subchapter V of Chapter 11 of the Code [1] in the Small Business Reorganization Act of 2019 (“SBRA”), that debtors in pending cases would seek to convert or redesignate their cases as Subchapter V cases when SBRA became effective on February 19, 2020, but it was foreseeable.

Debtor

Debtor Bankruptcy Creditors Government

The Final Say: Conversion from Chapter 11 to Chapter 7 is Not a Given

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. ” Id.

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COVID-19 Related Updates to Bankruptcy Courtroom Policies and Procedures

PBWT

SEPTEMBER 24, 2020

Most bankruptcy courts have altered their practices and procedures in light of COVID-19. Below is a summary of some of the changes to practices and procedures in the United States Bankruptcy Courts for the Southern District of New York, the Eastern District of New York, and the District of Delaware. phone call or email).

Bankruptcy

Bankruptcy Debtor Creditors Government

Affordable Care Act’s Shared Responsibility Payment is a Tax Entitled to Priority

ABI

JANUARY 26, 2023

1] In In re Szczyporski, the United States Court of Appeals for the Third Circuit held that the shared responsibility payment is a tax entitled to priority under Title 11 of the United States Code (the “Bankruptcy Code”). [2] 3] The IRS filed a proof of claim against the Debtors for unpaid taxes and interest, including a $927.00

Bankruptcy

Bankruptcy Debtor Healthcare Government

Foreign Trusts Present Tricky Eligibility Issues

PBWT

JUNE 22, 2021

In bankruptcy as in federal jurisprudence generally, to characterize something with the near-epithet of “federal common law” virtually dooms it to rejection. [1] Judge Sontchi properly asks, “what law governs whether EH-REIT is a business trust”? The Court disagrees with this authority. [7]

Debtor

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The Increasing Acceptance of Derivative Standing

ABI

JANUARY 12, 2022

American Bankruptcy Institute Law Review Staff. . In In re Roman Catholic Church of Archdiocese of Santa Fe , the United States Bankruptcy Court for the District of New Mexico, held, in a matter of first impression, that bankruptcy courts have authority to confer derivative standing on creditors or committees to assert claims. [1]

Debtor

Debtor Bankruptcy Unsecured Creditor Creditors

Debt Collection Now and Post-Covid

Nexa Collect

APRIL 11, 2021

During peak Covid-19 duration (May-Nov 2020) many states prohibited debt collection for several months. The turnaround came the following year, during tax refund season as the debt recovery levels went up substantially ( March/April 2020). The next 6 to 12 months are going to be an uphill battle for creditors.

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You Can Come In, But You Can’t Stay – Judge Grossman Dismisses Debtor’s Case for Re-designating Under the SBRA After Deadlines Have Passed. Seven Stars on the Hudson Corp., Case No. 19-17544-SMG, Bankr. S.D. Fla. Aug. 7, 2020

Burr Forman

AUGUST 20, 2020

Relying on a plain reading of Sections 1188 and 1189 of the Bankruptcy Code, Bankruptcy Judge Scott M. Grossman dismissed the Seven Stars bankruptcy case [1] based on the debtor’s election to proceed under Subchapter V of Chapter 11 [2] after the expiration of the statutory deadlines for filing a plan and holding a status conference.

Debtor

Debtor Bankruptcy Creditors Government

Separate Military Service Periods Considered Single Transactions for Recoupment Purposes

ABI

JANUARY 21, 2020

2] In In re Matamoros, the United States Bankruptcy Court in the Southern District of New York held that the City could not recoup the advance salary received by Fernando Matamoros (the “Debtor”) because the Debtor’s military service occurred over three separate occurrences. [3] By: Carole Ann Liscio. from the military. [6]

Bankruptcy

Bankruptcy Debtor Creditors Secured Creditor

Amendments To The Federal Rules Of Bankruptcy Procedure Take Effect December 1, 2020

Debtors do not have the Burden to Prove Section 523(a)(8) applies to their Loans

Trending Sources

Personal Insolvency rising sharply according to new figures

The NAACP Wants In On the Purdue Pharma Bankruptcy. Will the Court Allow It?

A Guide To Bankruptcy And How Long It Stays On Your Credit Report

A Cogent Opposing View on SBRA Flexibility

The Final Say: Conversion from Chapter 11 to Chapter 7 is Not a Given

COVID-19 Related Updates to Bankruptcy Courtroom Policies and Procedures

Affordable Care Act’s Shared Responsibility Payment is a Tax Entitled to Priority

Foreign Trusts Present Tricky Eligibility Issues

The Increasing Acceptance of Derivative Standing

Debt Collection Now and Post-Covid

You Can Come In, But You Can’t Stay – Judge Grossman Dismisses Debtor’s Case for Re-designating Under the SBRA After Deadlines Have Passed. Seven Stars on the Hudson Corp., Case No. 19-17544-SMG, Bankr. S.D. Fla. Aug. 7, 2020

Separate Military Service Periods Considered Single Transactions for Recoupment Purposes

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