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Second Circuit Declines Class Certification to Debtors Seeking to Hold Creditor in Contempt of Discharge Injunction

ABI

John’s University School of Law American Bankruptcy Institute Law Review Staff A bankruptcy discharge order absolves debtors of their pre-bankruptcy debts and seeks to provide debtors with a fresh start to their financial life. 12] The Second Circuit answered in the negative. Marybeth Ehlbeck St.

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A US Court May Recognize a Foreign Proceeding of an Entity Who Would Not be Considered a Debtor in the U.S.

ABI

In In re Barnet , the United States Court of Appeals for the Second Circuit held that a foreign debtor must satisfy traditional debtor eligibility requirements for a debtor’s foreign proceeding to be recognized under Chapter 15 of Title 11 of the United States Code (the “Bankruptcy Code”). [1] 12] See id. 7] 11 U.S.C. §

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

ABI

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] 3] In 2013, Rodger Dean Love (“Debtor”) filed for bankruptcy under chapter 13 of the Bankruptcy Code. [4] 16] . . [1] 523(a)(8). [2]

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

PBWT

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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Debt Collection Now and Post-Covid

Nexa Collect

In 2013, it was at 88%. 4, March 2013 ). These are industries where debtors will be hard-pressed to find money to pay debts for no other reason than that they are unemployed. The next 6 to 12 months are going to be an uphill battle for creditors. Great Depression , EHES Working Papers in Economic History | No.

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The Increasing Acceptance of Derivative Standing

ABI

1] In 2012, the Archdiocese of Santa Fe (“Debtor”) along with its 90 parishes began restructuring its assets after creating the Archdiocese of Santa Fe Real Estate Corporation (“RE Corp.”). [2] 2] Debtor then created a real estate trust and a financial assets trust, both effective January 1, 2013, and made RE Corp. 22] Id. .

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11th Cir. Reiterates That TILA Periodic Statements May Violate FDCPA

Collection Industry News

The appeal arose from a lawsuit brought by two Florida homeowners (“Debtors”) against their home loan servicer (“Servicer”) for alleged violations of the FDCPA and Florida’s Consumer Collection Practices Act. The statements also warned that failure to pay may result in the loss of Debtors’ home and provided options for payment.

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