Bankruptcy Blogs

A Chapter 7 bankruptcy trustee is supposed to gather and sell all non-exempt personal property of significant value. Sometimes there are practical considerations that lead most trustees to leave valuable assets for the debtor.

One of my Chapter 7 bankruptcy clients owned a military-grade machine gun. The stated that the machine gun was worth at least $8,000. The machine gun would be non-exempt in this debtor’s bankruptcy.

This week on The Broke and the Beautiful, rapper DMX filed for bankruptcy protection. Also, Teresa and Joe Giudice of Bravo’s “The Real Housewives of New Jersey” were charged with fraud, and fellow New Jersey “Real Housewives” star Danielle Staub settled a fraudulent-claims lawsuit.

Two years ago in Stern v Marshall, the Supreme Court surprised many observers by placing constitutional limits on the jurisdiction of the United States Bankruptcy Courts. The Court, in limiting the ability of a bankruptcy court judge to render a final judgment on a counterclaim against a party who had filed a claim against a debtor’s bankruptcy estate, re-opened separation of powers issues that most bankruptcy practitioners had thought settled since the mid-1980s. While th

This is a work of fiction. Any resemblance to real merchants, bankers, lobbyists, or politicians, living or dead, is purely coincidental.

In a significant victory for former Georgia football coach Jim Donnan, a Bankruptcy Judge has ruled that the evidence at trial did not support a finding that Donnan knowingly participated in a fraudulent Ponzi Scheme.  The case is Fennell v. Donnan, Adv. No. 11-3088, 2013 Bankr. LEXIS 3110 (Bankr. M.D. Ga.