consumer bankruptcy

Update -- The Sixth Circuit Rules IRAs Are Exempt

06/18/13

A few weeks ago, I posted about an apparent movement to challenge the bankruptcy-exempt status of IRAs based on boilerplate language commonly found in the account agreements of many of the nation's largest brokerages. The legal argument rested on hyper-technical interpretations of the Bankruptcy Code and the account agreements, but nonetheless several lower courts had ruled that debtors could lose their IRAs to the bankruptcy trustee.

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The Bankruptcy Ethics Task Force's Final Report

06/03/13

Thanks to Bob and Credit Slips for the warm welcome.  In April, after two long years, we completed the American Bankruptcy Institute Ethics Task Force's Final
Report. This week we will be guest blogging about “bankruptcy ethics” and
discussing many of the issues we confronted as Reporters.

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The Daily Docket: ResCap Creditors Want Company to Have More Time to Control Bankruptcy

05/03/13

Residential Capital LLC creditors want to give the company more time to control its bankruptcy case, Dow Jones Newswires reports.

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Bankruptcy Watchdogs Suspend Debtor Audits

04/01/13
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When Congress overhauled the Bankruptcy Code in 2005, it directed bankruptcy watchdogs to ferret out fraud by auditing consumer debtors—audits those watchdogs can no longer afford.

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The Broke and the Beautiful: Twinkie Edition

03/15/13

This week on The Broke and the Beautiful, Twinkies might get backed by some star power, and British actress Amanda Abbington has declared herself insolvent. Also, Michael Vick had to cancel his book tour because of threats of violence against him.

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The Daily Docket: ResCap Looks to Keep Control of Bankruptcy

03/05/13

Ally Financial Inc. mortgage subsidiary Residential Capital LLC said bondholders wishing to file their own reorganization plan just want the Chapter 11 case to become one “replete with competing plans and open warfare.” Read the Daily Bankruptcy Review article here.

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