Bankruptcy Blogs

Swaps Settlement Ahead: Twelve big banks plan to pay $1.9 billion to settle charges that they conspired to control the credit default swaps market during the run-up to the financial crisis, according to the papers. The New York Times maintains an air of mystery about the details of the pending settlement, opting not to name the banks involved. But the Los Angeles Times names names including Bank of America, JPMorgan Chase and Citigroup and the FinancialÂ...

Very often in the course of a bankruptcy proceeding, a creditor with a pending lawsuit against the debtor will need to obtain relief from the automatic stay in order to continue to prosecute the pre-petition litigation.   For example, personal injury claimants who seek to recover solely against an insurance policy of a debtor may obtain relief from the automatic stay in certain circumstances.  Such claimants will need to file a motion with the Delaware Bankruptcy Court to obtain relief from the stay in order to pursue their claim to a final judgment.

Normally your bankruptcy estate consists only of the property you own on the date of the filing of your bankruptcy case. Certain property though that you acquire after filing for bankruptcy are part of your bankruptcy estate. Supplemental schedules need to be prepared and filed with the Bankruptcy Court.

Certain Property Needs to be Disclosed

Good News:  Fannie Mae Announces New Shorter Waiting Period for After Bankruptcy Mortgage. Here’s the most important question for people who file bankruptcy because they can’t make their house payments:  How soon can I buy a house again? Since the housing crisis, there have been two waiting periods:  Two years after the bankruptcy; but three […]