The United States Court of Appeals for the Ninth Circuit recently held that the bankruptcy court has authority to recharacterize as equity, rather than debt, advances of funds made purportedly as a loan to the recipient prior to its bankruptcy.
After filing a chapter 7 bankruptcy, the debtors tried to surrender their residence to the mortgage lender.
A mortgage lender filed a proof of claim in a chapter 13 bankruptcy claiming total secured debt of $132,945.08, including $14,327.60 in prepetition expenses that were identified as $2,231.93 in late charges and $12,095.67 in attorney fees.
On April 24, 2013, Robert S. Bernstein, Plan Administrator for the Berkline/BenchCraft bankruptcy estates, began filing complaints with the Delaware Bankruptcy Court seeking to recover what he contends are preferential transfers.
San Bernardino’s financial situation has become clearer and the numerous disagreements regarding what documents to share have been resolved.
A discussion on a recent case, where a stalking horse was the winning bidder in a section 363 bankruptcy sale.
In a recent decision, the United States District Court for the Southern District of New York acknowledged that to be granted relief from the automatic stay under 11 U.S.C. § 362(d), a secured creditor has the initial burden to show that there has been a decline—or at least a risk of decline—in the value of its collateral.
A University of Michigan Law School graduate and former partner at the law firm Jones Day, has been selected by Governor Rick Snyder as Detroit's Emergency Financial Manager.
A company bought property from the debtor in the mid-1980s that turned out to be contaminated.
On April 24, 2013, Synagro Technologies ("Synagro") and various affiliates filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.
A discussion on a recent case where it was shown that a developer's properly crafted chapter 11 plan of reorganization can effectively "restore" trust funds that it previously had "diverted" under the New York Lien Law.
Between 2003 and 2006, Fitness Holdings issued approximately $24 million of promissory notes with maturities ranging from 2006 to 2009 to its sole shareholder, Hancock Park.
The debtor (AFIS) entered into a joint venture agreement with a third party (Quinlan) to acquire an apartment complex pursuant to a purchase agreement between the debtor and the seller.
The economic woes of Harrisburg, Pennsylvania, caused mainly by a troubled incinerator project have been mainstays in the economic news cycle.
In Morning Mist Holdings Limited v. Krys (In re Fairfield Sentry Limited), Case No. 11-4376, 2013 WL 1593348 (2d Cir. April 16, 2013), the United States Court of Appeals for the Second Circuit (the "Second Circuit") held that the relevant point in time for determining where the "center of main interests" ("COMI") of a debtor under chapter 15 of the United States Bankruptcy Code, 11 U.S.C. § 101 et seq. (the "Bankruptcy Code"), lies is the commencement of the case under chapter, and also held tha
"Whether one is baking a cake, building a house, or recording a mortgage, sometimes even the slightest deviation from the directions can lead to catastrophe.
Conventional wisdom says that it is nearly impossible to obtain a discharge of student loan debt in bankruptcy.
When doing business with a foreign company, it is important to identify the company’s "center of main interests" as creditors may find themselves bound by the laws of the COMI locale.
The United States Bankruptcy Court for the District of Delaware recently upheld a secured lender’s claim for a $23.5 million "makewhole" premium over the heavily litigated objection raised by the unsecured creditors’ committee in In re School Specialty, Inc., No. 13-10125.
The United States Bankruptcy Court for the District of Delaware recently upheld a secured lender’s claim for a $23.5 million "makewhole" premium.