Bankruptcy Blogs

On March 14, 2012, Judge Sontchi of the Delaware Bankruptcy Court issued an opinion in the Carolina Fluid Handling Intermediate Holding Corp. bankruptcy case.  When a Fox Rothschild client is (or could be) affected by a ruling, rather than summarize the opinion, I will be providing a link to the opinion.  The opinion is available here.

For those without enough reading after the legal document dump on Monday in the national mortgage settlement (see http://www.creditslips.org/creditslips/2012/03/national-mortgage-settlement-details-posted-on-the-web.html), there's more. Also released Monday were five audit reports about the robo-signing and other abuses in the foreclosure processes of the five financial institutions involved in the settlement.

Homestead Exemptions Don’t Protect Investment Property Although homestead exemption laws vary by state, none of them protect investment property. A homestead is, by definition, a primary residence. You don’t necessarily need a white picket fence and a golden retriever, but you must live in the home in order to claim the exemption. As a general rule, investment [...]

Just as we manage risk within companies on an enterprise-wide level, we should be building a coherent regulatory framework in which risk is assessed across industries and markets.

To add to Jean's post on the National AG's mortgage settlement, we now have a copy of a complaint that formed the basis for the AG settlement, in which the United States of America (along with all the states but Oklahoma) sued most of the major  servicers for committing misconduct in connection with the origination and servicing of single family mortgages.