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American Bankruptcy Institute Pushes for Less Expensive Chapter 11s

A recent article in the December, 2016 American Bankruptcy Institute Journal argues for the creation of a subset of rules for smaller companies who need to file Chapter 11. One of the key proposals would be to remove creditor’s committees or, at le… Read More
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Categories: Bankruptcy

Sixth Circuit BAP Rules in Favor of Lien Strip in "Chapter 20"

In a case decided in July of 2014, the Bankruptcy Appellate Panel for the 6th Circuit Court of Appeals ruled in favor of a Debtor, who originally filed a Chapter 7 and, four months later, filed a Chapter 13 to effectuate a “lien strip” on… Read More
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Categories: Bankruptcy

Debtor as Commercial Lessor - Lessee's Rights Trump Debtor's Right to Sell Real Estate

In the case of Dishi & Sons, 510 B.R. 696; 2014 U.S. Dist. LEXIS 72698; Bankr. L. Rep. (CCH) P82,658, the District Court for the Southern District of New York upheld a Bankruptcy Court Order that limited a debtor (which owned an rented out real e… Read More
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Categories: Bankruptcy

You Might Just be Uncollectable

Often times I meet with clients who are now retired. They may owe a considerable amount of unsecured debt, including medical bills and credit card debt. They hopelessly owe more than they can repay as their only source of income is Social Security. B… Read More
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Categories: Bankruptcy

Secured Creditor Rewarded for Failing to Participate in Chapter 11 Proceedings - Fifth Circuit Leaves Lien Intact

The Fifth Circuit Court of Appeals in the case of S. White Transportation, Inc., 725 F.3rd 494 (2013) recently allowed a secured creditor’s lien to stand, completely unimpaired, in the face of a confirmed Chapter 11 Plan that provided that the… Read More
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Categories: Bankruptcy

Court of Appeals Rules Bankruptcy Court has no Jurisdiction to Determine Professional Fees for Terminating Retirement Plan

In a decision of first impression, the United States Court of Appeals for the Second Circuit, in the matter of Robert Plan Corporation, 2015 WL 467707 (C.A. 2), reversed the Bankruptcy Court and sustain the District Court, ruling that the Bankruptcy… Read More
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Categories: Bankruptcy

Rights of Secured Creditors to "Credit Bid" Upheld in Recent Case

Our friend, Alan Lepene of Thompson Hine, LLP in Cleveland (along with a couple of his partners) has recently written about a new bankruptcy case, decided by the United States Bankruptcy Court for the Western District of Tennessee, which case upheld… Read More
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Categories: Bankruptcy

Some Hope for Student Loan Discharge

Currently, it is nearly impossible to discharge your student loans. This has not always been the case. In under previous versions of the Bankruptcy Code, if a Debtor had made attempts to repay the student loans for a period of time, either five or se… Read More
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Categories: Bankruptcy

Proof of Claim Violates Fair Debt Collection Practices Act

The Eleventh Circuit has held in Crawford v. LVNV Funding, LLC 758 F.3d 1254 (11th Cir. 2014) that a claim filed by LVNV Funding LLC for a debt beyond the statute of limitations violated the Fair Debt Collection Practices Act. Although other courts h… Read More
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Categories: Bankruptcy

Sixth Circuit Court of Appeals puts Road Block Up for Individual Seeking Chapter 11 Relief

Many individuals, either because of severe medical problems or because of a business deal gone bad, have debts in excess of those permitted under Chapter 13, a traditional reorganization for an individual. Those having debts over the so-called “deb… Read More
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Categories: Bankruptcy

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