Bankruptcy Blogs

History Shows Why CFPB Needs a Commission

10/19/11

The FTC, with its five-person commission, was attacked by Congress for implementing a vague congressional directive. A single director at the CFPB would fare even worse.

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Celebrity Chef With Prior Legal Troubles Puts Restaurants in Chapter 11

10/19/11

David Ruggerio, a former Food Network host and the owner of several Manhattan restaurants, put two of his restaurants in Chapter 11 bankruptcy protection last week.

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Rothstein Trustee Sues Miami Heat, Florida Panthers

10/19/11
Associated Press
Scott Rothstein

The Miami Heat and Florida Panthers are ready to rumble…in bankruptcy court.

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Why Bank Reform is Misguided

10/19/11

The policy focus should be how to ensure no single financial institution becomes a single point of systemic failure - not how to mitigate the fallout when such an entity fails.

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Qualifying For Chapter 7

10/19/11

Many of my Fort Worth bankruptcy clients ask about the differences between Chapter 7 and Chapter 13 bankruptcy. I find it important to educate all my clients about the qualification standards for both, as their financial standing has the most influence over their chances of successfully obtaining a Chapter 7 discharge over a Chapter 13 [...]

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The Daily Docket: Potential Buyers Eyeing Solyndra Assets

10/19/11

Solyndra LLC is talking to some 25 potential buyers of its solar panel manufacturing business as it limps along under fire from Republicans in Congress over $527 million in federal loans, company officials said Tuesday. Read the Daily Bankruptcy Review story here.

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The Three Year Rule for Getting Rid of Income Taxes in Bankruptcy

10/19/11

Everyone knows that you can’t discharge income taxes in bankruptcy.  Right?  No, not right at all.  This misconception about bankruptcy law illustrates just why you shouldn’t substitute cocktail party gossip for the advice of a good lawyer.  Especially when the question involves discharging income taxes in a consumer bankruptcy case. Generally, income taxes are discharged in [...]

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Nemo Dat Trumps Bona Fide Purchaser

10/18/11

The Massachusetts Supreme Judicial Court just handed down a second major mortgage foreclosure ruling, Bevilacqua v. Rodriguez.  The case was an Ibanez follow-up dealing with the rights of a purchaser at an invalid foreclosure sale. I thought this was a no brainer case and said so in an amicus brief co-authored with some of the Credit Slips crew.

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The Sweep-It-Under-the-Rug Housing Plan

10/18/11

There is $700 billion in negative equity in the US. That is the critical figure. Any housing plan that doesn’t take a serious bite out of that $700 billion isn’t worth discussing. It’s just window dressing. And that’s exactly what the latest iteration of the Tom Miller-led AG mortgage servicing settlement is.

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