Searching Content indexed under Insolvency/Bankruptcy/Re-structuring by Thompson Coburn LLP ordered by Published Date Descending.
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Possession Is Not ‘Nine Tenths Of The Law': Impounded Vehicles Must Be Returned When A Bankruptcy Petition Is Filed
In a recent opinion, the Court of Appeals for the Seventh Circuit ruled the City of Chicago must return repossessed and impounded vehicles upon receiving a bankruptcy petition,
United States
12 Jul 2019
SCOTUS Rules Post-Discharge Collection Actions May Result In Civil Contempt
On June 3, 2019, the U.S. Supreme Court clarified the standard for holding a creditor in contempt for attempts to collect a debt from someone who previously received a bankruptcy discharge.
United States
20 Jun 2019
Supreme Court Decides Key Trademark Licensee Issue In Bankruptcy
On May 20, 2019, the U.S. Supreme Court ruled a trademark licensee can continue to use the trademark after a bankrupt licensor rejects ...
United States
5 Jun 2019
Court Allows Secured Creditor To Retain Mortgage Lien After Mistaken Release And Reinstatement Prior To Bankruptcy
The U.S. Court of Appeals for the Seventh Circuit allowed a secured creditor to retain its lien and therefore the proceeds from a sale, even after the secured creditor mistakenly released its mortgage lien.
United States
21 Mar 2019
In Gouletas, Bankruptcy Court Rules Statutes Of Limitations Have Limitations
In the recent Chicago bankruptcy case In re Gouletas, U.S. Bankruptcy Judge Timothy A. Barnes ruled that obligations are not extinguished by statutes of limitation and, even after the expiration of the limitation period, ...
United States
14 Feb 2019
Court Rules Subordination Agreement Bars Junior Creditor From Obtaining Discovery From Senior Creditor
In a recent decision, the U.S. Bankruptcy Court in the Northern District of Illinois strictly enforced a subordination agreement to prevent ...
United States
22 Jan 2019
Delaware Bankruptcy Litigants Get Lost In Article 9's Anti-Assignment Override Provisions
A recent Delaware bankruptcy court decision may leave bankruptcy-claim traders somewhat confused as to how to properly navigate the anti-assignment "override provisions" set forth
United States
9 Jul 2018
Assignee's Pre- And Post-Petition Attorney Fees Are Compensable In A Chapter 7 Bankruptcy
In a recent Chapter 11 case and subsequent Chapter 7 case, Judge Timothy Barnes of the N.D. of Illinois allowed counsel for an assignee ("Assignee") in an Illinois assignment for the benefit of creditors ("ABC") to recover attorneys' fees and expenses incurred pre-petition and post-petition.
United States
25 Jun 2018
Data In The Cloud: What If The Cloud Provider Goes Bankrupt?
With data being the new "coin of the realm," those who control and exploit data have a winning advantage over competitors.
United States
9 Mar 2018
Three Key Changes For Bankruptcy Procedures In 2018
The New Year brings with it new changes to the bankruptcy code.
United States
24 Jan 2018
New Tax Law Eliminates NOL Carry Backs
In a blow to certain distressed companies, the Tax Cuts and Jobs Act of 2017 eliminates the ability of taxpayers to carry back net operating losses ("NOLs") ...
United States
29 Dec 2017
Amendments To Chapter 12 Make It Easier For A Family Farmer To Reorganize
In a rare bipartisan moment, Congress overwhelmingly passed and the President signed into law on October 25 the Family Farmer Bankruptcy Clarification Act of 2017.
United States
10 Nov 2017
Secured Creditors Beware
A series of cases decided by the federal district court in Chicago holds that a properly perfected secured creditor can waive its right of priority in collateral in favor of a judgment lien creditor...
United States
22 Jun 2017
Caveat Creditor: Risks Of Filing An Involuntary Bankruptcy
When faced with a recalcitrant debtor, clients sometimes move too quickly to put the debtor into an involuntary bankruptcy, especially when fraudulent transfers become apparent.
United States
7 Apr 2017
Managers Of Insolvent Missouri LLCs Have No Fiduciary Duty To Creditors
Two recent federal court decisions establish that managers of financially troubled Missouri limited liability companies do not owe a fiduciary duty to creditors of their troubled enterprises.
United States
14 Dec 2016
Two Non-Conventional Uses For Missouri's New Receivership Statute
Missouri's new receivership statute became effective on August 28, 2016. The new statute, called the MCRA and codified at Chapter 515 of the Missouri Revised Statutes,...
United States
15 Nov 2016
Chapter 12 Family Farmer Cases In Missouri: A Look Inside The Numbers
Chapter 12 of the Bankruptcy Code, enacted in 1987, provides relief to family farmers facing financial distress. Chapter 12 is available exclusively for family farmers that want to reorganize their financial affairs.
United States
10 Oct 2016
Supreme Court's Discharge Exception Ruling Gives Creditors More Options
One goal of bankruptcy for individuals is the discharge of debts, meaning that the debtor is no longer personally responsible for the obligations owed prior to the bankruptcy filing.
United States
8 Jun 2016
7 Things You Should Know About The New Missouri Commercial Receivership Act
On May 10, 2016, the Missouri General Assembly passed the Missouri Commercial Receivership Act (MCRA), providing for significant changes to Missouri's law on receiverships.
United States
23 May 2016
Major Update To Bankruptcy Forms Effective December 1, 2015
On December 1, 2015, the Official Forms for use in bankruptcy courts will be updated.
United States
23 Nov 2015
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