In this Emerging Issues commentary, Robert W. Stocker II and Peter J. Kulick, members of Dickinson Wright PLLC, attempt to assist practitioners encountering gambling casino chapter 11 cases. Their analysis focuses upon the applicability of the automatic stay and jurisdictional considerations of the bankruptcy...
With 2010 coming to a close, below are the most popular posts on the LexisNexis Bankruptcy Law Community from the past year. Remember, if you haven't done so already, register with our community today so you can contribute your own bankruptcy insight and expertise ( register today ).
Because you generally cannot modify your mortgage on your primary residence in a bankruptcy case, I often suggest that people who are most troubled by their mortgage debts seek assistance outside of bankruptcy.
I had high hopes for the Obama mortgage programs, including the Home Affordable Mortgage...
by Sidney Goldstein
There is a commonly held view that individuals
and business entities have a "God Given Right" or at least a
Constitutional Right to declare bankruptcy to protect themselves from creditor
claims. Not being a theologian, we will only discuss the legal aspect of...
By Ann V. Kramer and Jennifer D. Katz
In Rosciti v. Liberty Mutual Insurance Company , the District Court of Rhode Island concluded that an individual seeking damages from a bankrupt company cannot directly collect from that company’s excess insurer if the bankrupt company has not exhausted...
by Paul Turner and Mark
A recent opinion by the U.S. District Court for the
Southern District of New York affirms a 2010 ruling by the Lehman Brothers
bankruptcy court, which rendered certain netting and setoff provisions
unenforceable in bankruptcy. The core holding - that a counterparty...
As we discuss in the Road Out of Debt , bankruptcy myths are
everywhere. Still, I am surprised when I see myths reported in newspapers
like the San
Francisco Chronicle or on very reputable websites like Investopedia .
Here are some of the misstatements and myths I found in this rather short
This Emerging Issues Analysis
considers two circuit court decisions holding that Bankruptcy Code section
525(b) does not prohibit private employers from discriminating against job
applicants who have filed bankruptcy. Section 525(a) does prohibit governmental
employers from so discriminating, but...
Medical bills have long been considered a leading cause of
bankrupt case filings. Elizabeth Warren and her co-authors found medical
bills accounted for 65% of bankruptcies in 2007.
Now, a new study shows how devastating medical bills
involving cancer treatment can be. The Fred Hutchinson Cancer...
On this edition, Christopher W. Frost, Frost Brown Todd Professor of Law at the University of Kentucky College of Law discusses his recently authored Collier Monograph: Corporate Governance in Insolvency and Bankruptcy, published in May 2011 by LexisNexis Matthew Bender. He talks about the monograph's...
Section 510(a) of the
Bankruptcy Code upholds subordination agreements entered into between lenders
prior to bankruptcy but does not operate as a complete bar to lender disputes.
Ambiguity in intercreditor agreements may pose potential problems concerning
waiver of rights to object during bankruptcy...
By Jeffrey S. Sabin and Carol Weiner Levy
Excerpt from 2011 Emerging Issues 6116
Valuation Methodology in Practice Arguably, there is nothing special about causes of action as an asset class and, thus, nothing particularly surprising about the Polis [ an enhanced version of this opinion is available...
The travails of Jefferson County, Alabama are well known. Ordered by a federal court to upgrade its sewer system in the late 1990's, the project was marred by corruption, cost overruns and financing with complex derivatives that ultimately saddled the County with over $3 billion in debt. In addition...
SAN FRANCISCO - The Ninth Circuit U.S. Court of Appeals on April 3 denied an en banc rehearing of its decision to remand approval of Thorpe Insulation Co.'s Chapter 11 plan of reorganization so a bankruptcy court can hear objections by insurance companies ...read more
NEW YORK - The U.S. trustee in the Chapter 11 bankruptcy case of Eastman Kodak Co. on April 23 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York objecting to Kodak's motion seeking an order authorizing it to pay its ...read more
Easy access to practical guidance and "on point" legal content and analysis help law firms increase productivity and bring junior attorneys up to speed quickly
NEW YORK - LexisNexis ® Legal & Professional, a leading provider of content and technology solutions, on May 3 announced...
NEW YORK - The Allied Pilots' Association (APA) on May 22 filed a brief supporting its motion seeking certification of a direct appeal to the Second Circuit U.S. Court of Appeals in the APA's adversary proceeding related to collective bargaining ...read more
NEW ORLEANS - A panel of the Fifth Circuit U.S. Court of Appeals on May 24 affirmed a bankruptcy court's ruling that a debtor's attorney was not permitted to recover approved legal fees because an underlying order authorized the trustee to pay ...read more
NEW YORK - (Mealey's) The law firm of Dewey & LeBoeuf filed for Chapter 11 bankruptcy on May 28 in New York, listing between $100 million and $500 million in liabilities ( In re: Dewey & LeBoeuf , No. 12-12321, Chapter 11, S.D. N.Y. Bkcy.).
( Petition. Document #80-120606-030C .) ( lexis...
BIRMINGHAM, Ala. - A federal bankruptcy judge on June 29 ruled that revenues from bankrupt Jefferson County, Ala.'s sewer facility may be used only to pay down the county's debt and cannot be used to cover legal fees and capital expenditures ...read more
PHILADELPHIA - A bankruptcy court has the authority to determine at the disclosure statement stage that a Chapter 11 reorganization plan is unconfirmable without first holding a confirmation hearing if it is obvious that the plan is patently unconfirmable ...read more
NEW YORK - The liquidating trustee in the Chapter 11 bankruptcy proceeding of BGI Inc., formerly known as Borders Group Inc., on Jan. 4 filed the latest in a total of 92 adversary complaints against various creditors in the U.S. Bankruptcy Court for the ...read more
After entity coverage began to be added to the D&O
insurance policy a couple of decades ago, a recurring problem in the bankruptcy
context was whether or not the D&O policy proceeds were property of the
estate under Bankruptcy
Code Section 541 (a) and subject to the automatic stay under Bankruptcy...
A New Mexico couple facing the possible "clawback" of nearly $1 million from the largest Ponzi scheme in New Mexico history has filed for bankruptcy in a bid to avoid dodge the lawsuit. Mark and Maura Dahrling, of Albuquerque, New Mexico, were among hundreds of investors that lost approximately...
WASHINGTON, D.C. — (Mealey’s) The U.S. Supreme Court on Nov. 26 granted certiorari in a case in which a debtor couple contend that high court review is needed to settle a split in the circuit courts regarding whether Chapter 7 debtors are permitted to exempt money in an inherited individual...