Bankruptcy Blogs

Forget Semantics - Focus on Improving Consumers' Financial Health

08/26/13

Consumers deserve the kinds of high quality, widely accessible savings, credit and payments products and experiences that are critical ingredients in the recipe for financial health.

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Regulators Unwind Nasdaq's Shutdown

08/26/13

Receiving Wide Coverage ...

Nasdaq's Knock Out: Regulators and exchange officials continued digging up more information as to what caused Nasdaq's three-hour shutdown on Thursday. The Journal reports it was a two-minute window where rival electronic market NYSE Arca could not connect with the Nasdaq after numerous attempts, according to unnamed sources. But Robert Greifeld, the chief executive of the Nasdaq-OMX Group, says it was because the U.S. equity market is a "fragmented landscape," the FT...

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The Daily Docket: Lehman Sues SAP Founder

08/26/13

Lehman Brothers Holdings Inc. is suing two entities controlled by German entrepreneur Klaus Tschira in a bid to recover 100 million euros Lehman says was transferred to one of his investment vehicles one business day before Lehman’s 2008 bankruptcy filing. Read the Daily Bankruptcy Review article here.

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President Obama takes on the student debt bomb; meanwhile, the Gainful Employment Rule saga enters a 5th year

08/24/13

Prospects do not look good for President Obama’s vastly ambitious initiative (not yet really a plan) to take on growing college debt.

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The Two-Year Tuition Fallacy and Other Confusion in Legal Education Reform

08/24/13

Even the President has now weighed in about the cost of legal education, thus elevating the profile of the debate about the "dual crises" of legal education:  costs and job placement.

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Debtor’s Apparent Draining of Bank Accounts Days Before Filing Chapter 7 Petition Leads To Turnover Order And Objection To Discharge

08/24/13

Bankruptcy lawyers regularly caution debtors to avoid unusual financial transactions, including credit card charges, cash withdrawals, and the like, prior to filing their case.  This is a case in which a pro se debtor withdrew several thousand dollars in the week before filing and got caught.  In addition, Debtor also requested, and initially received, approval for a waiver of her filing fee because she appeared destitute.  In re Ricks, Ch. 7 Case No. 13-60100, 2013 Bankr. LEXIS 3355 (Bankr. S.D. Ga.

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Debtor’s Apparent Draining of Bank Accounts Days Before Filing Chapter 7 Petition Leads To Turnover Order And Objection To Discharge

08/24/13

Bankruptcy lawyers regularly caution debtors to avoid unusual financial transactions, including credit card charges, cash withdrawals, and the like, prior to filing their case.  This is a case in which a pro se debtor withdrew several thousand dollars in the week before filing and got caught.  In addition, Debtor also requested, and initially received, approval for a waiver of her filing fee because she appeared destitute.  In re Ricks, Ch. 7 Case No. 13-60100, 2013 Bankr. LEXIS 3355 (Bankr. S.D. Ga.

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Debtor Forfeited Vehicle Post-Petition By Not Redeeming Title Pawn Before Deadline

08/24/13

In In re Chastagner, Ch. 7 Case No. 12-11488, 2013 Bankr. LEXIS 3240,(Bankr. S.D. Ga. August 8, 2013) (click here for .pdf of opinion), Judge Barrett, in a thorough discussion of Georgia title pawn law, held that a Chapter 7 debtor cannot avoid a lien on a vehicle pursuant to 11 U.S.C.

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Un-Denouement

08/23/13

With about 30 seconds of wi-fi, here are my two cents on top of Mark's and Stephen's. This feels weirdly like a pox-on-all-your-houses decision.

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Mortgage Wars Part 2--Attack of the Robo-Signers

08/23/13
The first post in this series discussed successful and (largely) unsuccessful claims brought against mortgage servicers.   In Ashley Martins v. BAC Home Loans Servicing, LP, No. 12-20559 (5th Cir. 6/26/13)(also discussed in part 1 of this series) and Reinagel v. Deutsche Bank National Trust Company, No. 12-50569 (5th Cir.
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