Bankruptcy Blogs

Taylor Morrison Snaring Prime California Parcel

02/12/14
Bloomberg News

Taylor Morrison Home Corp. and one of its largest investors, Oaktree Capital Management LLC, are the j

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Lessons from Volcker - How to Talk with Regulators

02/12/14

Being persistent and relentlessly reasonable can succeed over expressions of outrage, however justified that may be.

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Eligibility to File Chapter 13 Bankruptcy

02/12/14

In order to be eligible to file for Chapter 13 Bankruptcy one must be an individual with "regular income." Corporations, partnerships, estates, and trusts are not eligible to file for Chapter 13.  But individual operating their own business as a sole proprietorship (unincorporated) are generally eligible to file chapter 13 to deal with their personal and business debt.

A husband and wife can file a joint Chapter 13 case. The filing of a joint petition does not automatically result in the substantive consolidation of the two debtors' estates.

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Chapter 13 Post-Confirmation Property

02/12/14

In the case of In re Foreman, 378 B.R. 717 (Bkrtcy.S.D.Ga. 2007) a wrongful death claim arose post-petition. The Court held this claim not to be property of estate as it arose post-confirmation and that a debtor has no ongoing duty to disclose assets acquired post-confirmation that are not property of the estate.

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Global Banks Must Make Privacy a Priority

02/12/14

International banks and other global private firms need to ensure that they do more than pay lip service to the privacy laws of sovereign states. In fact, the penalties for failure to comply with privacy laws in many countries can be very serious indeed.

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A Postal Bank Would Benefit the U.S. Economy

02/12/14

The U.S. Postal Service, well-positioned to compete with payday lenders, could redirect the $7.4 billion Americans annually spend on these types of loans back into the U.S. economy. But it would have to become a proper bank to do so.

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The Daily Docket: Bill Gates Controlled Optim Enters Bankruptcy

02/12/14

Optim Energy LLC, an energy business owned by Bill Gates ’ investment company, filed for Chapter 11 bankruptcy protection Wednesday in Delaware, stating that its executives couldn’t get the consent they needed to borrow more money under a credit facility. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Bill Gates Controlled Optim Enters Bankruptcy

02/12/14

Optim Energy LLC, an energy business owned by Bill Gates ’ investment company, filed for Chapter 11 bankruptcy protection Wednesday in Delaware, stating that its executives couldn’t get the consent they needed to borrow more money under a credit facility. Read the Daily Bankruptcy Review article here.

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Morning Scan: Yellen on the Hill; Traders Using Lasers

02/12/14

Receiving Wide Coverage ...

Spotlight on Yellen: Janet Yellen faced Congress Tuesday for the first time as Federal Reserve chairman. The marathon session Â-- lasting almost six hours Â-- yielded several takeaways pertaining to her forthcoming tenure. A few of the more notable ones circulating among the pundits: Yellen is a dove, which we all pretty much already knew; Yellen is an effective communicator; and Yellen may or may not be a high pressure Fed chair...

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Exempt Entireties Property not Subject to 522(p) Limitation

02/12/14

In the case of In re Buonopane, ___ B.R. ____, 2007 WL 247888 (Bkrtcy. M.D. Fla.)Williamson, J.) the Bankruptcy Court for the Middle District of Florida held that the cap imposed by section 522(p) on the state homestead exemption that a debtor can claim in residential property acquired within 1,215 days of the petition date applied only to the Florida homestead exemption that the debtor could claim under 522(b)(3)(A) and not to the separate exemption available under section 522(b)(3)(B) for property held as tenants by the entireties.

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