consumer bankruptcy

Sovereign Debt

07/27/12

From the the second volumn of J.F. Molloy, Court Life Below Stairs (rev ed. 1885), regarding events after the death of George III's spouse, Queen Charlotte:

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The New Cramdown

06/29/12

For the past couple of years, I've been thinking that cramdown is dead as a policy solution. But I was thinking about cramdown as requiring legislation. It doesn't. We could start doing it tomorrow. Under current bankruptcy law, a Chapter 13 plan may be confirmed only if secured creditors receive their collateral, receive the value of their collateral, or consent to the plan.

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Fighting Foreclosure Fatigue

06/27/12

Folks in Washington tell me there is a general sense of “foreclosure fatigue” in our nation’s capital. It’s just so boring to keep thinking about all the people losing their homes year after year. Can’t we move on to something new? This attitude goes along with a failure to do anything meaningful to get out of the five-year-old mortgage crisis, still very much with us. More charitably, the people who would like to do something see no political opening in an election year.

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Bankruptcy Immigrants

05/29/12

Fascinating story in the Guardian about Irish debtors temporarily moving to the UK in order to gain access to more favorable bankruptcy law.  I guess the Brit's have a more lenient version of 522(b)(3) or a looser good faith filing doctrine/plan approval/discharge requirement.  I wonder how long this sort of international loophole will remain open within the EU.

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The Daily Docket: Hawker Enters Bankruptcy

05/04/12

Aircraft manufacturer Hawker Beechcraft Inc. sought bankruptcy protection Thursday, after striking a deal with creditors to swap some $2 billion in debt for control of the reorganized company. Read the Daily Bankruptcy Review article via The Wall Street Journal.

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The Broke and the Beautiful: Warren Sapp Edition

04/13/12
Associated Press
Warren Sapp

This week on The Broke and the Beautiful, former football star Warren Sapp’s debts catch up with him, broke sports agent Leigh Steinberg aims fo

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Tax Rebates Lead to Bankruptcy Filings

03/29/12

Jialin Wing has a blog post up summarizing her and her co-authors very interesting NBER paper estimating that at least 30,000 to 60,000 liquidity constrained households this will be priced out of bankruptcy because of the increased costs that came with the 2005 changes to the bankruptcy law.

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FireDogLake Book Salon on BROKE

03/25/12

On Sunday, March 25, from 5-7pm Eastern/2-4pm Pacific, I am live-blogging about Broke: How Debt Bankrupts the Middle Class at FireDogLake's Book Salon. My host is Edwin Walker, a retired bankruptcy practitioner with over twenty five years of experience.

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“Strip Off” of a Wholly Unsecured Second Mortgage Impermissible

03/21/12

By: Michael J. Casaceli

St. John’s University Law Student

American Bankruptcy Institute Law Review Staff

 

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