Bankruptcy Blogs

Federal Circuit Court Liberalizes Chapter 13 Stripping Of Unsecured Junior Mortgages

10/11/11

Because of substantial decline in Florida real estate values Chapter 13 bankruptcy is commonly used to strip off second and third mortgages from the debtor’s upside down  primary residence. Junior mortgages are not stripped off the residence at start of the Chapter 13. If that were the case then homeowners could file the Chapter 13 to wipe out the junior mortgage and quit payments soon thereafter. No, debtor’s junior mortgages are stripped at the “back end”, that is, at the end of the Chapter 13.

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The Daily Docket: Garlock Loses Bid to Look into Old Asbestos Bankruptcies

10/11/11

A judge denied Garlock Sealing Technologies LLC’s bid to obtain legal documents from decade-old asbestos bankruptcies, warning the consequences of doing so would upend previously struck resolutions to billions of dollars in claims. Read the Daily Bankruptcy Review story here.

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Bankruptcy: It’s All About Timing.

10/11/11

Exactly when a Bankruptcy petition is filed can make a big difference in your case. There’s an old Vaudeville bit that has one comedian talking to another. The first asks: “What is the most important thing about com…” and before he can finish his question, the other comedian answers “Timing.”  Ok, not very funny; but [...]

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Energy Department Fights to Keep Solar Patents in U.S. Hands

10/10/11

The U.S. Department of Energy wants to prevent one of Evergreen Solar Inc.’s solar panel manufacturing techniques from ending up in the hands of its Chinese competitors—a group that’s blamed for crippling the U.S. renewable-energy market.

Agency officials want to place a legal grip on Evergreen Solar’s patented technology, which is destined for the bankruptcy auction block along with the rest of the Massachusetts solar-panel company’s factory equipment.

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Young Buck Faces Liquidation

10/10/11
Reuters
50 Cent

What rhymes with liquidation?

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