Bankruptcy Blogs

The Daily Docket: Appaloosa Denies WaMu Insider Trading Claims

02/02/11

David Tepper's Appaloosa Management LP said suspicions it engaged in insider trading in Washington Mutual Inc.'s bankruptcy case are "demonstrably false and defamatory," Borders Group Inc.

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‘Apprentice’ Winner Gets Lesson in Bankruptcy

02/01/11

Synergy Brands Inc., which counts former "Apprentice" star Bill Rancic as a member of its board of directors, sought Chapter 7 protection on Friday in a move authorized by the board.

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Internet Payday Loans, Arbitration Clauses, and Agreements Not to Bring Class Actions

01/31/11

You know a case before the New Mexico Court of Appeals is a big when  lots of out of town lawyers come to argue the case. And, so it was in the case of Andrea Felts, heard on January 19, 2011. Ms. Felts, a high school vice principal, took out  internet payday loans when going through a divorce, one at 684 percent per annum, and another at 730 percent.

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Bankruptcy Tweets for the Week Ending 1/31/2011

01/31/11

Here are my tweets for this past week, though expanded into plain english.  RSS Feeds are also available for those wanting them individually organized:

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Can a Person Keep a Car in a Chapter 7 Bankruptcy?

01/29/11

The general answer is yes, provided a number of factors exist. First, the person must be current on his monthly payments. If not, the auto finance company will likely choose to repossess the auto rather than offer a reaffirmation agreement. Second, the person must not have significant equity in the vehicle. If so, the trustee may be able to sell the vehicle right out from under the individual and tender a check for $2,400.00 in exchange for the vehicle.

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Fifth Circuit Doesn't Save the Save Our Springs Alliance But Time May

01/29/11
Another chapter in the Austin development wars has played out as the Fifth Circuit affirmed the Bankruptcy Court ruling denying confirmation of the plan of reorganization proposed by the Save Our Springs (SOS) Alliance, Inc. Matter of Save Our Springs (SOS) Alliance, Inc., No. 09-50990 (1/26/11). However, intervening developments have helped to keep the feisty environmental activist group alive. You can read the opinion here.
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The Upside of High Fees

01/28/11

Some of the comments to Stephen Lubben's post on "overhead" raised the longstanding complaint about high fee awards in New York and Delaware Chapter 11 cases. We all know the academic and political condemnations of Chapter 11 as merely a feast for lawyers.

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The Repayment Plan within the Chapter 13 Bankruptcy

01/28/11

Chapter 13 bankruptcy can often provide the greatest chance to save a home that is in foreclosure. In addition to the proposed plan to repay mortgage arrears and other creditors, there is often a secondary payment plan once the case is confirmed. The circumstance I am referring to is a default order providing for repayment of past due obligations through the Chapter 13.

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