Bankruptcy Blogs

Senate Hearing on "Problems in Mortgage Servicing - Part II"

12/01/10

The Senate Committee on Banking, Housing, and Urban Affairs will be holding a hearing on "Problems in Mortgage Servicing from Modification to Foreclosure, Part II" today.

The witnesses include representatives from

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Bankruptcy Trustee in Eclipse Aviation Files Preference Actions

11/30/10

In November, Jeoffrey Burtch, the Chapter 7 Trustee in the AE Liquidation bankruptcy (formerly "Eclipse Aviation"), began filing preference actions against various creditors of Eclipse.  Eclipse Aviation began as a New Mexico manufacturer of small jet aircraft.  The company filed for bankruptcy in the United States Bankruptcy Court for the District of Delaware on November 25, 2008.  As stated in the

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What Do Circuit Judges Do? Not Much of it is Bankruptcy

11/29/10

A new report from the Fifth Circuit offers some interesting statistics on the work of the court of appeals. You can find the report here. During Fiscal Year 2010, the Court received 7,337 new appeals, just 1.1% of which were bankruptcy appeals. Nearly 64% of the appeals filed were either criminal or prisoner appeals. Bankruptcy was the second smallest category, beating out only mandamus cases at 0.3%. During Fiscal Year 2010, there were just 82 bankruptcy appeals, down from 130 in 2007.

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How Much Does A Chapter 11 Bankruptcy Cost? Why Is It So Expensive?

11/28/10

Lawyers who handle Chapter 11 Bankruptcy cases for small to medium size businesses usually address these questions in the initial conversation with potential clients.  "How much is a Chapter 11 case?"  "Why is it so expensive?"  "I just want to stop the foreclosure/lawsuit/collection, then we can dismiss." "Can't I pay a little over time?"  While these questions are very reasonable, the answers are often not what prospective clients like to hear. 

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Attorney Pays Steep Price for Unauthorized Filing

11/27/10
When dealing with the Soviet Union, Ronald Reagan famously quoted the Russian proverb "trust but verify." An experienced bankruptcy lawyer from Las Vegas would have avoided a lot of trouble if he had heeded this advice. In re Blue Pine Group, Inc., No. BK-S-09-13274-BAM (Bankr. D. Nev. 10/7/10. You can find the opinion here. (PACER registration required).

What Happened

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Trustee In DBSI Bankruptcy Files Adversary Actions

11/25/10

Introduction

Earlier this month, the chapter 11 trustee (the "Trustee") in the DBSI bankruptcy began filing adversary actions seeking the avoidance and recovery of alleged fraudulent transfers.  The Trustee filed the adversary actions against various defendants, some of whom the Trustee identifies as "John Doe 1 -10."  This post will look briefly at the DBSI bankruptcy proceeding, why DBSI filed for bankruptcy, as well as some of the events that have transpired since the compnay filed for bankruptcy.

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