Bankruptcy Blogs

Let's at Least Try to Regulate Derivatives

09/01/11

The total notional value of credit-default swaps has reached almost $30 trillion. I doubt there has ever been an industry or product line that expanded so fast or got so big without attracting serious scrutiny.

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No Five-Year Plan Limitation in Chapter 11

08/31/11

Chapter 13 bankruptcy is usually a good fix for someone behind on their mortgage if a loan modification outside of bankruptcy is not possible and foreclosure is looming. However, there are times when a Chapter 13 will not work. I will mention three of these and then say a few additional words about the last. [...]

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Keep Your Nest Egg

08/31/11

Don’t take money out of your retirement account to ease a temporary economic crunch. Difficult times come and go; and sometimes they seem insurmountable.  When that happens, it might appear wise to tap into the 401k or the IRA and borrow or take some of the funds.  Don’t do it! I see bankruptcy clients every [...]

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New Judge for Southern District of Texas – David R. Jones

08/31/11

A big welcome to the Southern District of Texas Bankruptcy Court’s newest Judge, David R. Jones!  David will take the bench officially October 1, 2011.  David is a partner in the creditors’ rights, bankruptcy and restructuring group of Porter Hedges, and has been practicing law since 1992.  He has been recognized as a “Leader in [...]

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It's the End of the Bank Branch as We Know It

08/31/11

Banks must make significant changes to their branch networks, further automating transaction processing, changing the skills sets of branch employees, and altering the physical designs of branch offices

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Robo-Signing Settlement Needs to Go All the Way

08/31/11

To do any good the robo-signing settlement should include mandatory, widely applicable principal reductions targeted to homeowners who were the hardest hit.

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Chapter 13 Mortgage Cram-Down On Multi-Family Building When Debtor Lives In One Of Units

08/31/11

Chapter 13 debtors can cram-down the value of mortgages on properties other than their principal residence. The debtor initiates the process by filing a motion to value the underlying property. If the property is under water the court will modify the mortgage to reduce the loan balance to the current property value.

A Florida bankruptcy court considered a motion to value on a debtor’s duplex. The debtor lived in one unit and rented the other unit.

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Iowa Bankruptcy Attorney, Sam Marks, Joins NBF

08/31/11

Hi, I’m Sam Marks of Marks Law Firm in Des Moines, Iowa. Marks Law specializes in consumer protection, foreclosure, and bankruptcy law. I personally handle the bulk of bankruptcy clients that our firm serves and I also maintain a blog on my website in an effort to demystify filing for bankruptcy in Des Moines to [...]

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Nevada AG: Securitization Fail

08/30/11

The Nevada AG is looking to reopen the 2008 AG settlement with BoA:  the AG alleges rampant and immediate non-compliance with the settlement.  The NYT coverage missed what is arguably the bigger story:  the Nevada AG came out and alleged a securitization fail.  The NY AG moved in this direction in his BNYM settlement action intervention, but was a little more oblique on that point.

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