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. A recent 10 th Circuit decision shows why. The debtor and his two brothers-in-law served as co-trustees of both trusts. Unsecured Creditors Committee et al. , ” Id.

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ABI

JANUARY 24, 2024

[2] The original proof of claim at issue was filed against Maxus and its affiliates (the “Debtors”). In the process of making Agent Orange, the Debtors discharged dioxin and other chemicals into the Passaic River, causing environmental damages. [3] 12] In May 2017, the Debtors’ liquidating plan was confirmed. [13]

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ABI

JANUARY 13, 2022

In certain instances, confirmation of a plan may not be possible or cost-prohibitive, but the debtor and its creditors have achieved a consensus regarding the treatment of the debtor’s liabilities. There, the debtor and its creditors may agree to the treatment of claims, following which the case will be dismissed. 739 (Bankr.

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ABI

JANUARY 12, 2022

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] John’s University School of Law. 3] In Siegel v. 3] In Siegel v.

Bankruptcy 40

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ABI

JANUARY 12, 2022

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.” 3] Between 2010 to 2017, her average annual wages totaled approximately $63,000.” [4] 1] In Hull v. State Higher Educ.

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Student loans Student Loans Loans Debtor 45

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? 1] In Harrison , the debtor’s schedules listed his interest in a life insurance policy with a cash value of $814,917. Not according to the U.S.

Debtor 52

Debtor Bankruptcy 52

ABI

JANUARY 12, 2022

Nitka earned $61,901 in 2015 and made no payments; $83,000 in 2016 and only paid $130.92; $31,000 in 2017 and paid $109; and $8,000 in 2018 and made no payments towards his loan. at *10–11. [ix] viii] Here, the Tenth Circuit held Nitka made a sufficient showing on the first and third elements. [ix] at *12­–13.

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Student loans Student Loans Loans Bankruptcy 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] 2017); Brown v. 30] [1] 11 U.S.C. §

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ABI

MARCH 9, 2020

5] Acis was named as an alleged debtor in an involuntary petition for relief under chapter 11 of the Bankruptcy Code. [6] 7] The Acis trustee rejected the Shared Services Agreement, which as amended on March 17, 2017, did not contain an arbitration clause. [8] 1] 10 Collier on Bankruptcy, ¶ 9019.05 (Alan N. 10] See id.

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Bankruptcy Debtor Collateral Construction 40

ABI

JANUARY 19, 2024

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. [8] Nino Aspanadze St. 8] BWGS paid the vast majority of the loan by transferring its own property worth $24.8

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ABI

JANUARY 20, 2020

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”). 7] Following the aforementioned hearings, the Debtors sought a rehearing, which FERC denied, and thereafter the Debtors filed for bankruptcy on January 29. [8]

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Bankruptcy Debtor Government 40

ABI

JANUARY 12, 2022

1] In March 2017, Westinghouse Electric Co., 1] In March 2017, Westinghouse Electric Co., 13] Further, according to the Third Circuit, the conclusion that such claims are administrative expenses advances the policy goal of section 503(b)(1)(A), which is intended to incentivize employees to continue working for a debtor. [14]

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Consumer Financial Services Law

MAY 12, 2017

In a Chapter 7, disclosed claims may be abandoned by the trustee post discharge and returned to the debtor to pursue. However, undisclosed claims remain property of the estate and the debtor may be estopped from pursuing them. Jeziorowski v. Credit Prot. LEXIS 66084 (W.D.N.Y.

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Bankruptcy Debtor Fair Debt Collection Creditors 40

Consumer Financial Services Law

OCTOBER 16, 2017

By Zachary Dunn October 16, 2017 The FDCPA, through section 1692d(6), prohibits a debt collector from placing telephone calls to a debtor “without meaningful disclosure of the caller’s identity.” Van Ru Credit , 2017 U.S. In Berry v. LEXIS 164266 (D.

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Debt collector Education Student loans Student Loans 40

On Guard

DECEMBER 9, 2022

So fast in fact, that 57% of finance professionals expect financial services companies to be transformed into IT companies in 10 years’ time. But by combining lots of (un)structured data from different sources, it is possible to use the data as a basis for informed decisions and predicting customer or debtor behaviour.

Credit Management 52

Credit Management Debtor Acquisition Financial services 52

On Guard

DECEMBER 9, 2022

So fast in fact, that 57% of finance professionals expect financial services companies to be transformed into IT companies in 10 years’ time. But by combining lots of (un)structured data from different sources, it is possible to use the data as a basis for informed decisions and predicting customer or debtor behaviour.

Credit Management 52

Credit Management Debtor Acquisition Financial services 52

FDCPA Defense

FEBRUARY 1, 2018

One line of cases creates a duty to disclose to the debtor that the amount of the debt may be increasing due to accruing interest, fees or other charges. To avoid confusion to the debtor, the Avila Court held that use of the “safe harbor” language from the Miller case would be sufficient. 2017), petition for cert. 21, 2017) (No.

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ABI

JANUARY 23, 2024

2] In Geary vs. United States ( In re Geary ), the debtor sought a determination under section 505 of the Bankruptcy Code that she owed no taxes for the years 2015 through 2018 as an innocent spouse contemplated by the Internal Revenue Code. [3] 1] See I.R.C. 2] 11 U.S.C. § 3] 650 B.R. 486, 487 (Bankr. 8] See id. 9] See id.

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ABI

JANUARY 22, 2020

Under section 109 of title 11 of the United States Code (the “Bankruptcy Code”), a person is generally eligible to be a debtor. [1] 4] There, the court determined that a pension trust was not a business trust and thus not eligible to be a debtor under the Bankruptcy Code. [5] John’s University School of Law. 1] See 11 U.S.C. §

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