Bankruptcy Blogs

Who Knocked Out PACER/ECF???

01/25/14
On Friday January 24, 2014, attorneys trying to access the federal courts' electronic records and filing systems were unable to get through for almost four hours.   While occasional local outages for maintenance or technical problems are not unknown, there is some reason to believe that the PACER and ECF systems for the entire federal court system were taken down by hackers.   This raises questions of who was behind the hack and why they targeted the federal court system.
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Who Knocked Out PACER/ECF???

01/25/14
On Friday January 24, 2014, attorneys trying to access the federal courts' electronic records and filing systems were unable to get through for almost four hours.   While occasional local outages for maintenance or technical problems are not unknown, there is some reason to believe that the PACER and ECF systems for the entire federal court system were taken down by hackers.   This raises questions of who was behind the hack and why they targeted the federal court system.
[more]

Are Churches Slowly Recovering?

01/25/14

I'm thrilled to join Credit Slips as an occasional contributor. As Bob mentioned, my research focuses on religious organizations that file under chapter 11. Based on the approximately 500 religious institutions that filed between 2006 and 2011 (about 90 cases per year), I previously concluded that primarily small nondenominational and congregationalist Christian churches seek to reorganize in hopes of retaining their buildings after they have fallen behind on mortgage payments.

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A Lawyer and Partner, and Also Bankrupt...for reasons that have nothing to do with being a non-equity partner...

01/25/14

It's all the rage these days to beat up on law school as a bad investment and to moan about the economic travails of the legal profession.  There are some reasonable critiques that can be leveled at the shape of legal education and its costs and there are clearly important changes going on in the economics of the legal profession.  But in a NY Times column, James Stewart has tried to connect these imp

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Chapter 7 Discharge Does Not Prevent Subsequent Foreclosure

01/24/14

A reader wrote me stating that she had filed Chapter 7 bankruptcy because a bank was suing her for the amount of her home mortgage. This was not a deficiency action. The bank sued the reader for default under the promissory note without foreclosing on the mortgage. Without foreclosure, the owner would keep her house but the bank would have a judgment against her personally. She filed Chapter 7 to stop the lawsuit.

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Chapter 7 Discharge Does Not Prevent Subsequent Foreclosure

01/24/14

A reader wrote me stating that she had filed Chapter 7 bankruptcy because a bank was suing her for the amount of her home mortgage. This was not a deficiency action. The bank sued the reader for default under the promissory note without foreclosing on the mortgage. Without foreclosure, the owner would keep her house but the bank would have a judgment against her personally. She filed Chapter 7 to stop the lawsuit.

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Nightclub Insurer’s Troubles Spill Into Bankruptcy Court

01/24/14
Photo courtesy of Toysyouhad.com
Mr.
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Nightclub Insurer’s Troubles Spill Into Bankruptcy Court

01/24/14
Photo courtesy of Toysyouhad.com
Mr.
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Weekly Wrap: Bank CEO Report Cards; Mortgage Course-Correction

01/24/14

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

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The Broke and the Beautiful: Young Edition

01/24/14

This week on The Broke and the Beautiful, Vince Young has fumbled in bankruptcy, and Lou Pearlman called his Ponzi scheme smarter than Bernard Madoff’s. Also, there’s more news about Curt Schilling.

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