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  • Foreclosure and Homestead Exemptions

    Many, but not all, states have homestead exemptions that protect the home in which a family lives from being sold to satisfy debts held by judgment creditors. Homestead exemptions do not protect the family from foreclosure by the mortgage holder or the...
  • Home Foreclosure Crisis: Will Proposed Amendments to the Bankruptcy Code Be Helpful or Hurtful?

    A residential foreclosure crisis exists at an unprecedented level in many parts of the United States. Prompted by the enormous number of families losing their homes to foreclosure, several members of Congress have introduced legislation which would amend...
  • Representing a Secured Creditor in Chapter 11

    § 15:5 Representing a Secured Creditor in Chapter 11 (1) See supra section 15:4. (2) Determine whether creditor has interest in cash collateral. See chapters 5, 8, and 11 of this book. If so: (a) Confirm that debtor is not using cash...
  • Subprime Fallout: A Ripple Effect?

    Nearly every day, newspaper headlines announce new asset write-downs, bankruptcy filings, and lawsuits relating to the subprime debt market. If more and more subprime loans go into default, these problems are likely to continue and may worsen. The press...
  • Bankruptcy Exemptions

    Unless a bankruptcy case is dismissed, property that is exempt under 11 U.S.C.S. § 522 is not available for the payment of any debt during or after bankruptcy, except for tax liens, educational loans and grants obtained by fraud, and debts secured...
  • Overview of Bankruptcy Crimes

    Many people have very little understanding of the exact nature of bankruptcy crime. The United States attorney and trustee receive complaints alleging bankruptcy frauds that fail to state a crime even if all of the allegations are considered true. See...
  • Disclosure Statements; Confirmation and Cramdown of Chapter 11 Plans

    This paper will address several of the most common plan confirmation issues, including adequacy and approval of the disclosure statement, good faith, feasibility, and the requirements for cramdown under section 1129(b) of the Bankruptcy Code. Although...
  • Giving Bankruptcy Advice to Your Creditor Client

    Every business that extends credit has had to deal with customers filing bankruptcy. If you receive a frantic call from a client who has just received notice that a customer who owes on an account has filed or is going to file bankruptcy, you’ll...
  • Bankruptcy and the Small Business Debtor

    Several provisions of the Bankruptcy Code are designed to afford small business debtors an accelerated, more efficient, and less expensive mechanism for reorganizing their businesses by eliminating the requirement for the appointment of a creditors'...
  • Bankruptcy Pro Bono Representation of Consumers: The Seven Deadly Sins

    Pride, envy, wrath, sloth, avarice, gluttony, and lust. In Christian theology, these seven deadly sins are considered such odious failings that they are fatal to a soul's spiritual progress. Renaissance poet Dante Alighieri built his seven levels...
  • Representing an Unsecured Creditor in a Chapter 7 Case

    Chapter 15 of Bankruptcy Deskbook includes checklists intended to provide some general guidelines for those desiring a quick orientation when called upon to represent a creditor in a bankruptcy case. Because all of the many issues and considerations that...
  • Post-Confirmation Issues: Ascertaining the Effective Date; Post-Confirmation Jurisdiction; Serial Filing; Post-Confirmation Litigation Vehicles

    With increasing frequency, many issues are purposefully relegated to the "back burner" during the pendency of a chapter 11 case and are resolved post-confirmation of the plan. Other issues arise unexpectedly after the chapter 11 plan has been...
  • Could you repeat that, please?

    Just starting out in the Bankruptcy field? A basic knowledge of the terms of art is key to impressing your client or managing partner with your ability to handle Bankruptcy matters competently. Read on for a quick primer! Adversary Proceeding: A...