Bankruptcy Blogs

Mortgage Settlement - Not For Everyone

02/13/12

Hooray! We have a Mortgage Settlement - $26B worth but who gets help and where does the rest of the money go? NO ONE KNOWS yet, and no one know who is covered and will get assistance of any kind!
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The Daily Docket: Missing MF Global Customer Money Totals $1.6B

02/13/12

The trustee supervising the liquidation of MF Global Holdings’ brokerage on Friday said that more than $1.6 billion in customer cash remains out of his grasp, more than previously estimated. Read the Daily Bankruptcy Review article here.

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The Salazar Saga Continues

02/12/12

Bankruptcy and foreclosure lawyers everywhere have beenvitally interested in the fate of In re Salazar, 448 B.R. 814 (Bankr.S.D. Cal.

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Would You Buy a Used Car From This Man?

02/12/12

A recent unpublished decision by BankuptcyJudge Mann of the Southern District of California is a good quick resource for briefingdischargeability actions in her courtroom. In Whited v. Galindo, 2012 WL345942 (Feb. 1, 2012), S.D. Cal. Adv. No.

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Contumacious Case of Coercion or Merely Rude? Fifth Circuit Judges Debate the Meaning of Section 523(a)(6)

02/12/12
The case of a former corporate officer who demanded to be bought out for an alleged ownership interest and said some really nasty things resulted in a split decision with Fifth Circuit Judges Edith Jones and Catharina Haynes on opposite sides. Matter of Schcolnik, No. 10-20800 (5th Cir. 2/8/12), which can be found here.
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E.D.N.Y. Approves Debtor’s Chapter 20 Lien Strip

02/11/12

Lien Stripping in Chapter 13 Bankruptcy For our readers playing along at home, the basic rule with mortgage modification in bankruptcy is as follows: first mortgages on a debtors primary residence cannot be modified by filing for bankruptcy, however, second, third and other junior liens can be modified or “stripped” by filing for Chapter 13 [...]

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Debt Collectors Stoop to New Low: Credit Cards in Exchange for Expired Debt

02/11/12

Debt Collectors Offering Credit Cards With a Catch… Just when you thought debt collectors couldn’t get any lower, that they couldn’t be any more obnoxious or unethical, they started offering credit cards in exchange for paying expired debt. Yes, you read that right. The Wall Street Journal recently ran a story outing the relatively new tactic [...]

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Creditor Forces Individual, Non-Consumer Debtor Into Chapter 11; Debtor's Claims Of Unconstitutional Involuntary Servitude And Unlawful Peonage Fail.

02/11/12

In In re Derrick Dewayne Gordon, Ch. 11 Case No. 11-62509, 2012 Bankr. LEXIS 2012 (Bankr. N.D. Ga. January 23, 2012)(Judge Wendy Hagenau) (click here for .pdf of 32 page opinion), the issues before the Court were: 1) Could a creditor of an individual Chapter 7 Debtor, with non-consumer debt, move to convert the case to Chapter 11 pursuant to 11 U.S.C.

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Greek Endgame in Sight

02/11/12

We have been hearing about the oncoming endgame to the Greek saga for almost two years now. Several developments have occurred in the past few months that may make the prediction come true sooner rather than later. 

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