Bankruptcy Blogs

11th Circuit Affirms Availability Of "Value" Defense For Recipients Of Fraudulent Transfers Who Were Equity Holders Of Debtor

11/13/11

In Perkins v. Haines, et al, No. 10-10683 (11th Cir. October 27, 2011) (click here for .pdf of opinion), the 11th Circuit took a direct appeal of the Bankruptcy Court's order concerning the "value" defense in fraudulent transfer proceedings.

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11th Circuit Affirms Availability Of "Value" Defense For Recipients Of Fraudulent Transfers Who Were Equity Holders Of Debtor

11/13/11

In Perkins v. Haines, et al, No. 10-10683 (11th Cir. October 27, 2011) (click here for .pdf of opinion), the 11th Circuit took a direct appeal of the Bankruptcy Court's order concerning the "value" defense in fraudulent transfer proceedings.

[more]

Court Rebukes Chapter 7 Trustee's Attack On Debtors' Upside Down Homestead

11/13/11

I’ve written recently about some Chapter 7 trustees trying to take or administer  “upside down” homestead properties when the bankruptcy debtor chooses not to claim a homestead exemption because their home has no equity. The debtors purposefully avoid claiming the homestead exemption in order to then qualify for the $4,000 wildcard exemption that they can employ to protect cars and other personal property.

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What is a Lien strip?

11/11/11

What is a Lien strip? A Lien strip is possible only in a Chapter 13 bankruptcy and only if the fair market value of the property is less than the total amount of money due on the first mortgage. In that case a second and third mortgage if any can be stripped off the house. [...]

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Minn. firm takes control of 2 NW Indiana casinos

11/11/11

"A Minnesota-based investment firm has taken over two northwestern Indiana casinos owned by a company going through bankruptcy reorganization. The Indiana Gaming Commission on Thursday approved the transfer of licenses for the Majestic Star Casinos in Gary to Wayzata Investment...

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The Fed Needs to Stop This Interest Rate Meddling

11/11/11

In a capitalist economy there is one market which is more important than any other - the market for capital. Yet we find a control command center at the heart of the U.S. financial system.

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The Broke and the Beautiful: Bankruptcy Beat Edition

11/11/11

This week on The Broke and the Beautiful, we’re going to sing our own praises just a bit. From Toni Braxton’s revelation that bankruptcy worked out “really great” to boy-band creator Lou Pearlman’s settlement with MTV, Bankruptcy Beat was at the forefront of celebankruptcy news. Also this week, the Dodgers are readying for a sale, and Lenny “Nails” Dykstra’s boxing brawl didn’t go off as planned.

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