The latest buzz in the Ponzi world is over
the $852,000 arbitration award that former Congressman Alan Grayson won against
Wachovia Securities on April 3, 2012. Grayson lost money in the Derivium
Capital Ponzi scheme and sought damages of $28 million...
WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on
June 24 granted certiorari in a case dealing with the questions of
whether Article III of the U.S. Constitution permits the exercise of the
judicial power of the United States by bankruptcy...
Section 523(a)(8) contains a
presumption that qualified student loans will not be discharged, and although
the presumption can be overcome by a debtor who shows "undue
hardship," bankruptcy courts often seek to have debtors take advantage...
Finding that 11 U.S.C. §329(b) limited the court to disgorgement of the actual amount received, the Fifth Circuit has reversed the most draconian penalties assessed against an attorney who represented a former chapter 13 debtor. However, the portions...
WASHINGTON, D.C. - (Mealey's) The U.S.
Supreme Court on June 24 denied a bid for certiorari by Pfizer Inc. of a
ruling removing the protection for Pfizer of a bankruptcy injunction barring
asbestos personal injury claims entered in the case of...
Student loans have achieved a unique position in the world of debt. Those student loans with federal guarantee or public sponsorship have no statute of limitations on collection. Authorized debt collectors have extrajudicial tools they are allowed to...
by Felton E. Parrish , Jo Ann J. Brighton & James E. Morgan
K&L Gates LLP, Charlotte and Chicago
The astounding bankruptcies of U.S. corporations bearing such household names as General Motors, Chrylser, and Lehman Brothers have made nearly...
by David R. Kuney and Jeffrey E. Bjork
In this Emerging Issues
Analysis, two partners at Sidley Austin look at the enforceability of springing
guaranties. A springing guaranty is a guaranty that becomes effective upon the
occurrence of a certain...
by Daniel J. Weiner
In this Emerging Issues
Analysis, Daniel J. Weiner examines the treatment of the automatic stay in
partnership bankruptcies, including the treatment of stay actions against
non-debtor general partners by courts relying upon the...
Federal authorities indicted
two Arizona brothers for their role in helping a South Carolina man implicated
in a $60 million Ponzi scheme attempt to hide money from authorities.
Gordon and Benton Hall were charged with conspiracy to commit wire fraud...
In the only bankruptcy case pending before it this term,
a unanimous Supreme Court has ruled that the archaic term
"defalcation" used in 11 U.S.C. Sec. 523(a)(4) requires
knowledge of, or gross recklessness in respect to, the
When a settlement payment is
made under a "forward contract," there almost always exists a safe
harbor defense, found in Bankruptcy Code section 546(e). Accordingly, parties
entering into "forward contacts" should consider the defense...
On this edition, Douglas Lipke and Michael Edelman of Vedder Price P.C. discuss legal issues in airline reorganizations. They review special protections available to creditors of airline equipment and requirements for Bankruptcy Code section 1110 protection...
Often a company that is
involved in a formal restructuring (such as Chapter 11) has incurred
pre-petition trade debt with various vendors and suppliers. Many of
these vendors and suppliers are critical to the business (or at least more
by Kenric D. Kattner and Arthur T. Carter
Certain types of employee
related claims are accorded priority treatment under the Bankruptcy Code.
Generally, unsecured claims against a debtor are only entitled to priority
treatment if: (a...
With releases 119 (September 2011) and 120 (December 2011), LexisNexis is pleased to conclude the publication
the 16th Edition of Collier on Bankruptcy. Release 119 includes volumes 14, 16 and 17 of the Sixteenth Edition. These volumes replace volumes...
I just received this memorandum from Judge Pat E.
Morgenstern-Clarren of the Northern District of Ohio and thought it was worth
M E M O R A N D U M
TO: All attorneys with bankruptcy cases on my docket
FROM: Judge Pat E. Morgenstern...
NEW YORK - (Mealey's) GMAC-RFC Holding Co. LLC filed for
Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of
New York on May 14 despite listing more than $ 1 billion in assets (In Re:
GMAC-RFC Holding Company LLC, No...
It's springtime, and Ponzi schemes are in full bloom. Here
is a summary of stories that were reported this month. Please feel free to post
comments about these or other Ponzi schemes that I may have missed. And please
remember that I am just relaying...
Have you recently checked your credit report
and discovered a debt you thought you had paid or are continuing to pay is
labelled "charged off"?
Nothing may be more frustrating, especially when you have
paid the debt.
I had a car loan...
The Collier Guide to Chapter 11: Key Topics and Selected Industries is the latest addition to the Collier line of bankruptcy products from LexisNexis. Written by over 20 bankruptcy lawyers from leading firms , the Guide takes an in-depth look at the key...
The year continues its strong start for Ponzi scheme
news. Here is the summary of the stories that were reported this month. Please
feel free to post comments about these or other Ponzi schemes that I may have
missed. And please remember that I am...
There is nothing quite like the horror of realizing that
a deadline has been missed. As the heart pounds at the thought of notifying
client and carrier, the mind should shift to damage control. Was this a
deadline which could be extended after the...
WILMINGTON, Del. -- (Mealey's) Former joint compound
producer Bondex International Inc. and its related holding company Specialty
Products Holding Corp. face an estimated $1.16 billion in pending and future
asbestos personal injury claims, about...
Written and edited by leading scholars and practitioners, Collier on Bankruptcy is the preeminent treatise in the bankruptcy field. Long recognized as the most authoritative and comprehensive single source of bankruptcy law information, Collier is an...