Bankruptcy Blogs

While the number of corporate bankruptcies dwindled again in 2013, a deart

A government watchdog wants to investigate the ties between Freedom Industries Inc.’s bankruptcy lawyers and key parties in its Chapter 11 case, including the company that acquired Freedom shortly before the chemical spill that tainted the water supply of a large swath of West Virginia. Read the Daily Bankruptcy Review article here.

A married man used exempt money from his retirement funds to pay off a $400,000 mortgage on his homestead. Within three years thereafter, the same man filed Chapter 7 bankruptcy. The Chapter 7 trustee is challenging the man’s homestead exemption because he (the debtor) obtained $400,000 equity within 1215 days of filing bankruptcy. Can the man’s non-filing spouse exert her homestead interest to save the house?

Receiving Wide Coverage ...

Halted: Top New York regulator Benjamin Lawsky has stopped a deal that would have seen Wells Fargo sell the mortgage servicing rights on $39 billion in loans to Ocwen Financial Corp. The Times and the Journal both report that Lawsky halted the deal out of concerns about Ocwen's ability to handle more mortgages. Lawsky's Department of Financial Services has been investigating the servicer for alleged misdeeds toward homeowners since December 2012. Per...