Bankruptcy Blogs

U.S. Banks Must Brace for Europe's Data Privacy Rules

06/15/15

Multinational banks that delay preparation for the European Union's proposed General Data Protection Regulation could pay a steep price: hundreds of millions of dollars in fines.

[more]

Morning Scan: Default Dangers; Terror Victims' Claims on BNP Fine

06/15/15

Wall Street Journal BNP Paribas pleaded guilty in 2014 to breaking U.S. sanctions against Sudan, Iran, Cuba and other countries listed as state sponsors of terrorism. So it seems to make sense that victims of terrorist attacks should receive a share of BNP's $9 billion fine. The matter of how to determine which victims deserve a portion of the funds is proving to be a knottier question. Groups including survivors of the 1979 Iran hostage crisisÂ...

[more]

Colt Pulls the Trigger on Bankruptcy Filing

06/15/15

Colt Defense LLC filed for chapter 11 bankruptcy protection Sunday night, warning its business is in a fragile state and it needs a quick sale to survive, The Wall Street Journal reports.

[more]

Florida Bankruptcy Exemptions

06/14/15

Real Property

Homestead - unlimited in value, l/2 acre in municipality, 160 acres outside municipality, Art. X, Section 4, Florida Constitution

Personal Property 

Generally - to extent of $1,000, Art. X, Section 4, Florida Constitution and a further $4,000 in certain circumstances

Motor Vehicles - to extent of $1,000

Property Held as Tenants by Entireties for debts of only one spouse

Health Aides Professionally Prescribed

Earnings of Head of Family

[more]

Annuity Contract Purchased to Effecuate Structured Settlement Held Exempt

06/14/15

Bankruptcy Lawyer - Chapter 13 Bankruptcy Lawyer Jordan E. Bublick has an office in Miami and has over 25 years of experience in filing chapter 13 and chapter 7 bankruptcy cases. His office is located in Miami at 1221 Brickell Ave., 9th Fl., Miami and may be reached at (305) 891-4055. www.bublicklaw.com  

[more]

Forida Statutory $4,000 Personal Property Exemption

06/14/15

Since the enactment of section 222.25(4), Florida Statutes (effective July 1, 2007) there has arisen the issue of whether this section's new $4,000.00 personal property exemption (which is available to those that do not "claim or receive the benefits of a homestead exemption" under Art. X, Sec. 4 of the Florida Constitution) is in addition to the $1,000.00 personal property exemption of Art. X, Sec. 4(a)(2) or whether it includes it. The case of In re Bezares, Case No. 07-12820 (Bankr.M.D.Fla.

[more]

Florida Spendthrift Trusts

06/14/15

Florida common law and statutes recognize the validity of spendthrift trusts.

[more]

The Downside of Alternative Data; Will Lawsky's Tough Regime Live On?

06/12/15

A recap of the informed opinions (and the discussions they generated) on BankThink this week, including the pitfalls of using alternative data to score "credit invisibles" and whether Benjamin Lawsky's successor should play nice with big banks.

[more]

Florida Bankruptcy Exemptions

06/12/15

Under the federal bankruptcy laws, each state is allowed to choose which type of exemptions will be available to those who file for bankruptcy in its state.  Generally the choice is between allowing the use of the federal bankruptcy exemptions and the state's own bankruptcy exemptions.

[more]

Next Week in Bankruptcy

06/12/15

Investors face a deadline of next Friday to bid on Houston-based Dune Energy Inc.’s oil-drilling operations.

Lawyers are preparing for a June 30 auction to sell the company, which oversees more than a dozen drilling sites that sit atop an estimated 93.1 billion cubic feet of natural gas equivalent, according to earlier documents filed in U.S. Bankruptcy Court in Austin, Texas.

[more]