ABI

JANUARY 19, 2024

In evaluating the Texas Business & Commerce Code and title 11 of the United States Code (the “Bankruptcy Code”), the United States Bankruptcy Court for the Southern District of Texas, in In Re Burts Construction, Inc., In 2017, Allegiance Bank loaned Burts Construction, Inc. the “Debtor”) $1.5

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PBWT

OCTOBER 30, 2022

The ramifications of uneven increases to fees in chapter 11 bankruptcies continue to ripple through federal courts. As we discussed previously , Congress enacted legislation in 2017 that temporarily increased U.S. Trustee fees chapter 11 debtors had to pay in virtually every district in the U.S. Fitzgerald.

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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. The filing gives the debtor the peace of mind knowing that debt collectors must stop all collection actions, including any existing court filings against the debtor. The debtor also can emerge from the bankruptcy with debts restructured with qualifying debts discharged for good.

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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] 3] In Siegel v.

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ABI

JANUARY 13, 2022

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. 973, 979 (2017). [2] 4] The Office of the U.S. 5] Additionally, the U.S. 1] Czyzewski v.

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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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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 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.

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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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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.

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Debtor Bankruptcy 52

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] 11] In 2021, Petr sued BMO and Sun Capital seeking to avoid the $24.8 2] 11 U.S.C. §

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PBWT

MAY 14, 2021

Some of the main objectives of chapter 15 include: (1) to freeze assets of the debtor pending the resolution of all applicable bankruptcy proceedings, (2) to increase legal certainty for trade and investment, (3) to promote the fair administration of cross-border insolvencies, and (4) to facilitate the rescue of financially troubled businesses.

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ABI

JANUARY 12, 2022

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. A court will typically consider a debtor’s potential for future employment in determining whether student loan debt may be discharged. [vi] at *10–11. [ix]

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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] 30] [1] 11 U.S.C. § John Hayes St.

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ABI

JANUARY 12, 2022

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., 1] In March 2017, Westinghouse Electric Co., quoting 11 U.S.C. §

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PBWT

FEBRUARY 1, 2021

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. Southland filed for chapter 11 bankruptcy on January 27, 2020 (the “Petition Date”).

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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”). 3] On January 24, 2019, PG&E announced their intent to file a voluntary petition for relief under Chapter 11 of the Bankruptcy Code. [4] By: Gabriela Zapata.

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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] 11] See id. 1] In In re Acis Capital Mgmt., 541, 553 (Bankr.

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Collection Industry News

DECEMBER 21, 2020

In January 2009, after a homeowner (“debtor”) fell behind on his homeowners’ association (HOA) dues, a law firm acting as a debt collector for the HOA sent notices to the debtor regarding the unpaid debt. A copy of the opinion in Manikan v. Peters & Freedman LLP is available at: Link to Opinion. 1692d, 1692e, 1692f.

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Bankruptcy Chapter 13 bankruptcy Law Firms Debtor 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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ABI

JANUARY 23, 2024

1] Section 505(a) of title 11 of the United States Code (the “Bankruptcy Code”) allows bankruptcy courts to determine the “legality of any tax, or penalty relating to a tax” regardless of whether it was previously contested before a judicial or administrative tribunal, so long as it has not already been adjudicated. [2] 2] 11 U.S.C. §

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Debtor Bankruptcy 40

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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Collection Industry News

JUNE 14, 2021

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. Serio is awaiting sentencing on felony drug and weapons charges stemming from a 2017 raid at his former Lebrun Road mansion in Amherst.

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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] 1] See 11 U.S.C. § 2] 11 U.S.C. §

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FDCPA Defense

APRIL 17, 2019

1993), a collection agency sent letters to “approximately one million debtors each year” using a computerized mass-mailing system, on letterhead listing “P.D. The Court observed that “Rubin has no real involvement in the mailing of dunning letters to debtors,” id. 2017-CFPB-0003. In Clomon v. Jackson , 988 F.2d 2d 1314 (2d Cir.

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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. This caution is grounded in a concern that even if the draw itself will not violate the automatic stay, a notice to the debtor might. 1] Compare , In re Twist Cap, Inc. ,

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Bankruptcy Debtor Creditors Retail 40

FDCPA Defense

JANUARY 22, 2017

(This post is adopted from the materials presented at the CAI Law Seminar in Las Vegas, Nevada on January 20, 2017) Demystifying the FDCPA Class Action For HOA Attorneys Consumer attorneys have been filing FDCPA class actions against collection attorneys for decades, and the pace of those filings has increased sharply in the past ten years.

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Consumer Financial Services Law

FEBRUARY 1, 2017

The debtor contended that the letter violated 15 U.S.C. The debtor contended that the letter violated 15 U.S.C. On cross motions for summary judgment, the court granted summary judgment in favor of the debtor collector and was persuaded by a number of facts. It is our intention to pursue this debt until resolved. Santibanez v.

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Debt collector Debtor Creditors Judgment 40

Consumer Financial Services Law

FEBRUARY 9, 2017

27, 2017) [Dkt No. The creditor, a debt buyer, filed its unsecured proof of claim prior to confirmation of the debtor’s Chapter 13 plan. The debtor’s Chapter 13 plan was confirmed after the filing of the proof of claim. Three months later, the debtor objected to the debt buyer’s proof of claim as time barred.

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Troutman Sanders

JUNE 28, 2021

If confirmed by the Senate, Uejio would replace 2017 Trump appointee Anna Maria Farias. On June 22, the Federal Reserve Board announced that it will extend the comment period for its proposed changes to Regulation II (Debit Card Interchange Fees and Routing) until August 11. For more information, click here.

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