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Crypto lender Celsius accuses former money manager of theft
Citi sues Revlon over lender status after $900 million mistake
In a Case of First Impression, 11th Circuit Rules “New Value” Can Be Both Preference Defense and Administrative Claim
In Auriga Polymers, Inc. v. PMCM2, LLC, as Liquidating Trustee , No. 20-14647, 2022 WL 2800195 (11th Cir. ... Read full article
Crypto lender Celsius files for bankruptcy after cash crunch
Celsius paydowns take crypto lender into ‘uncharted territory’
Voyager, Celsius implosions spur expanded Texas, Alabama investigations
Judge Bonapfel – When Are Educational Loans Business Debts For Purposes of Qualifying for Chapter 7?
Ten Years Gone – Delaware Bankruptcy Judge Rejects Effort to Extend Lookback Period for Avoidance of Pre-Bankruptcy Transfers
A recent decision by Delaware Bankruptcy Judge John Dorsey will limit the ability of bankruptcy trustees to expand the lookback period for avoiding pre-bankruptcy transfers beyond the four years provided under most state law fraudulent conveyance ... Read full article
Second Circuit Split Resolved: No PPP Loans for Debtors in Bankruptcy
In March, the U.S. Court of Appeals for the Second Circuit joined a growing majority of courts with Springfield Hospital, Inc. v. Administrator for the U.S. ... Read full article
11th Circuit Rules On The Georgia Real Property Remedial Statute – Who Is A “Subscribing Witness?”
Preoccupied Congress Fails to Act, Sending Debt Limit Back Down to $2.7 Million and Reducing Availability of Subchapter V Protection for Small Businesses
For now, the Subchapter V debt limit is back down to $2.7 million. Overshadowed by the contentious confirmation hearings for historic Supreme Court nominee Ketanji Brown Jackson, the Senate Judiciary Committee failed to act on proposed legislation that ... Read full article
$7.5 Million Increased Debt Limit For Small Business Debtors May Become Permanent
The law that temporarily increased the maximum amount of debt a company may have to qualify as a small business under Subchapter V – the cheaper, easier, and faster version of Chapter 11 – from $2.7 million to $7.5 million, is about to expire. A bill ... Read full article
District Court Upholds Georgia Bankruptcy Court’s Restrictions On Chapter 7 Trustee Attorneys’ Fees
In this lengthy post , we discuss Judge Paul Bonapfel’s 73-page Order in which he skewered the fee application of a Chapter 7 Trustee and effectively changed the way all judges in the Northern District of Georgia view fee applications for Trustees’ ... Read full article
Eleventh Circuit Addresses Deadlines to Appeal Order of District Court (when Acting as Bankruptcy Appellate Court) to Court of Appeals
In a relatively brief opinion, the Eleventh Circuit Court of Appeals ruled on the deadlines for appealing an order from the District Court (acting as an appellate court for a Bankruptcy Court Order) to the Court of Appeals. Appellants appealed a ... Read full article
When Does a Judgment Lien and FiFa Attach to Real Property in Georgia?
In Georgia, does a judgment lien attach to real property as of the date the judgment was entered or as of the date and time the writ of fieri facias on that judgment is properly recorded in the county records, as required under Georgia law? The Supreme ... Read full article
Elite Bankruptcy Consulting Firms Battle It Out With Fraud and RICO Claims Related to Bankruptcy Disclosures and Lost Engagements
In Jay Alix, as assignee of AlixPartners, LLP v. ... Read full article
Roth IRA Is Exempt Under New Georgia Exemption Laws, 11th Circuit Says in Case of First Impression
Beware of Post-Confirmation Bar Dates In Chapter 11 Plans
A recent decision reminds creditors of the harsh consequences of failing to comply with a court imposed deadline for filing claims in a bankruptcy case. The U.S. Court of Appeals for the Third Circuit recently held in Ellis v. Westinghouse that claims ... Read full article
Credit card balances slide again even as consumer spending rebounds