Bankruptcy Blogs

Judge Allows Foreclosure Of Toni Braxton Home

01/24/11

The holder of mortgage debt on Grammy-winning singer Toni Braxton’s home won bankruptcy court approval to launch foreclosure proceedings against the Georgia property. Judge Barry Russell of the U.S.

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Could Your State Be Filing Bankruptcy Soon?

01/24/11

An article today first appearing in the New York Times suggests that congressional aides are exploring the possibility of legislation that would allow states to file for bankruptcy protection. You can read a summary of the article here.  The bankruptcy code currently provides the option for cities to seek bankruptcy protection, but does not provide…

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5 Ways to Deal With the Stress of Bankruptcy

01/24/11

“I am an old man and have known a great many troubles, but most of them never happened.” Mark Twain To be sure, stress is a constant for many of us in this fast paced, high tech day and age. Pressure and anxiety are an expected part of many professions, including the practice of law.…

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The Greatest Depression? Ask Rep. Neugebauer (R-TX)

01/24/11

Rep Randy Neugebauer, Chairman, House Financial Services Oversight Subcommittee, said it is time for the government to admit its foreclosure prevention efforts are a failure and should be shut down.

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The Greatest Depression? Ask Rep. Neugebauer (R-TX)

01/24/11

Rep Randy Neugebauer, Chairman, House Financial Services Oversight Subcommittee, said it is time for the government to admit its foreclosure prevention efforts are a failure and should be shut down.

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The Daily Docket: Meruelo-Maddux Strikes Deal

01/24/11

Meruelo Maddux Properties Inc. has struck a deal to settle its differences with a lender group, Rock-Tenn Co. said Sunday it agreed to purchase Smurfit-Stone Container Corp.

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722 Redemption & Attorney’s Fees

01/24/11

In the case of Valory Denise Ray, the Unites States Trustee moved for disgorgement of fees earned by debtor’s attorney. The fees in question were those earned during a 722 redemption process whereby the redemption company paid a portion of the loan amount as attorney’s fees. The United States Trustee asserted that a conflict of interest existed in that the funds were borrowed from a third party lender. The United States Trustee also asserted that the amount of the fees was excessive.

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Justice Scalia Won't "Ransom" His Principles to Grant Justice Kagan a Unanimous First Opinion That Looks to BAPCPA's "Text, Context, and Purpose" to Support a Dubious Result

01/23/11

When reading recent US Supreme Court opinions interpreting BAPCPA, the statute's manifest flaws are the "elephant in the room" (origins of phrase here), and Justice Kagan's recent opinion for the Court in Ransom v. FIA Card Services , N.A, No.

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Fifth Circuit Adopts Literal Reading of Exemption Statute

01/22/11
One of the reforms adopted by BAPCPA was to increase the amount of time a person had to spend in a state before he could take advantage of that state's exemptions. Under 11 U.S.C. Sec. 522(b)(3)(A), a person must live in a state for 730 days to claim that state's exemptions. If the debtor does not satisfy the 730 day requirement, the law of the state where the debtor lived for the greater portion of the 180 days prior to the 730 days applies.
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How Long Does a Typical Chapter 7 Bankruptcy Case Last?

01/22/11

Typically, chapter 7 bankruptcy cases last between three and four months from the date the case is filed. The preparation for a chapter 7 bankruptcy case can be anywhere between one day and many months depending on a number of factors, including attorneys fees, document readiness etc. This post will deal with the chapter 7…

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