Bankruptcy Blogs

If the budget impasse forces a government shutdown, most of the federal banking agencies will remain open. But history shows a federal shutdown can affect banks in other ways.

As Congress argues over what to argue about, they are avoiding dealing with THE major financial issue that needs to be resolved now

On February 11, 2011, the Hon. Alan Gold of the United States District Court for the Southern District of Florida issued a 113 page opinion and order quashing the bankruptcy court's order requiring the lenders involved in TOUSA, Inc.'s Transeastern joint venture to disgorge, as fraudulent transfers under Section 548 of the Bankruptcy Code, settlement monies that they had received on July 31, 2007 in repayment of their existing debt and to pay prejudgment interest on such monies, for a total disgorgement in excess of $480 million.

The following documents are for the benefit of the creditors of Greater Atlanta Brokerage Solutions, LLC (d/b/a ReMax Greater Atlanta), Chapter 11 Case No. 11-60628 (N.D. Ga.).

Schedules and Statement of Financial Affairs (Dkt. No. 97).

Last fall, I had the honor and pleasure of being interviewed for an American Bankruptcy Institute podcast with Professor Laura Bartell about foreclosure fraud and the problems in mortgage documentation.  The podcast came out just as the robosigning scandal was coming to light, but a lot of the discussion remains relevant.