Bankruptcy Blogs

The Euro Stops - Where, Exactly?

12/12/11

If every sovereign using the euro is going to be treated as too big or too indispensable or too pampered to fail, then why should they ever pay?

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We get a chapter 11 case!

12/12/11

The Supreme Court has granted cert. in RadLAX Gateway Hotel, LLC, a case involving the right to credit bid when a sale is done as part of a chapter 11 plan. The Code clearly allows credit bidding in 363 sales, but the courts had split on the issue in the plan context.

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The Daily Docket: Lee Enterprises Enters Bankruptcy

12/12/11

Newspaper publisher Lee Enterprises Inc. filed for Chapter 11 bankruptcy protection Monday in a bid to refinance nearly $984 million in debt that’s due to mature in the spring. Read the Daily Bankruptcy Review article here.

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Don't give me whys and wherefores

12/11/11

Some initial musings on the ethics of chapter 11, over at Dealbook.

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Bankruptcy Trustee Finds New Way to Increase Estate

12/11/11

The bankruptcy trustee, at last week’s meeting of creditors, came up with a new way of making money for the bankruptcy estate and annoying debtors. Here’s what happened: The debtor owns a house and a rental property that she would like to keep.  Both properties are completely up-side down (she owes more than they are [...]

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Case Illustrates Difficulty Of Protecting In Bankruptcy Pre-Filing Transfers Of Exempt Assets

12/10/11

There are so many reasons to stay away from bankruptcy- here is one more. In state court proceedings a debtor may do anything he wants with his exempt assets. In asset is exempt under Florida law a debtor can transfer it to a family member, put it in a trust, or sell it and by an alternative exempt asset. The definition of “assets” in our fraudulent transfer statutes specifically excludes exempt assets.

Not so in bankruptcy court. Bankruptcy trustees can attack pre-petition fraudulent transfers under either of two theories.

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Case Illustrates Difficulty Of Protecting In Bankruptcy Pre-Filing Transfers Of Exempt Assets

12/10/11

There are so many reasons to stay away from bankruptcy- here is one more. In state court proceedings a debtor may do anything he wants with his exempt assets. In asset is exempt under Florida law a debtor can transfer it to a family member, put it in a trust, or sell it and by an alternative exempt asset. The definition of “assets” in our fraudulent transfer statutes specifically excludes exempt assets.

Not so in bankruptcy court. Bankruptcy trustees can attack pre-petition fraudulent transfers under either of two theories.

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How To Miss Out On Discharging Credit Card Debt

12/10/11

Somewhere in our recent past, the holiday season became the shopping season. Lots of people in financial trouble hang on through the holiday season before taking up bankruptcy as part of the New Year.  (I haven’t seen many people give themselves a bankruptcy filing for Christmas, though, for many, it would be objectively the best [...]

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