Bankruptcy Blogs

Court Orders Turnover of Attorney Files in Billion Dollar Case

08/13/11
Attorneys are entrusted with a lot of sensitive information. The attorney-client privilege exists to allow clients to speak candidly with their attorneys. However, when the same attorney represents multiple parties, the privilege may not be so absolute. In the case of In re Crescent Resources, LLC, No. 09-11507 (Bankr. W.D. Tex. 7/22/11), Bankruptcy Judge Craig Gargotta was asked to decide who could access the attorney files in a billion dollar dispute.
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Student Loans: Until Death Do Us Part

08/13/11

It is not unusual in my practice to see student loan debts well in excess of $100,000 and clients that have minimal prospects for ever paying back the debt. Since the standard for discharge of these debts in bankruptcy is so high (see article below), often I find clients who have resigned themselves to owing [...]

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Appropriate Use of Available Exemptions Will Protect a Debtor’s Property in Chapter 7 Bankruptcy

08/13/11

For those who are considering filing Chapter 7 bankruptcy in San Jose, or elsewhere in California, a common misconception is that the bankruptcy trustee will seize or take away all of a debtor’s existing property.  This is not true. Debtors are entitled to certain exemptions when a bankruptcy is filed.  An exemption allows a debtor [...]

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En Banc Fifth Circuit Changes Course on Judicial Estoppel

08/12/11
In an important ruling, the Fifth Circuit Court of Appeals sitting en banc ruled that a debtor's nondisclosure would not bar a trustee from pursuing a large judgment for the benefit of creditors. Reed v. City of Arlington, No. 08-11098 (5th Cir. 8/11/11). The opinion overruled an earlier panel decision. You can read the new opinion here.
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Bankruptcy Beat Snapshot: Lisa Jacobs

08/12/11
Lisa Jacobs

Attorney Lisa Jacobs is a hockey fan, but when it comes to her legal practice, she’s happy t

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How to Break the Winner's Curse

08/12/11

Buyers hold more of the cards in M&A, but often misplay them. Strict pricing and a stricter board are essential to avoid being fleeced.

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Lehman, Barzel, Harry & David, Hooters Casino: Bankruptcy

08/12/11

Bloomberg Businessweek weekly bankruptcy roundup: Read it here.

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Aurora Bankruptcy Attorney Discusses Property Issues In Chapter 7

08/12/11

As attorneys, we need to know everything that debtors own. This is not the time where they should be hiding anything from us. We need to know so we can give them the best advice. Checking accounts and savings accounts are pretty much protected since most people don’t have much in them.  Cash on hand. [...]

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The Daily Docket: WaMu Creditors, Shareholders Continue To Spar

08/12/11

A flurry of briefs hit the docket in Washington Mutual Inc.’s bankruptcy case late Wednesday, as creditors and shareholders prepared for the final round of a duel over the $7 billion payout plan. Read the Daily Bankruptcy Review story here.

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Three Plans For Fixing the Mortgage Mess

08/12/11

While the finger pointing continues little is being done by the President and Congress to stem the tide of rising foreclosures.  The Brookings Institute examines three alternative plans on how the government might actually fix the mortgage mess. The first solution proposed by Eric Posner of the University of Chicago Law School and Luigi Zingales of the Booth School [...]

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