CreditSlips

Bernie Madoff, Haven Jurisdiction, and the End of COMI?

02/19/14

The liquidation of the largest Madoff feeder fund, Fairfield Sentry, recently made a major mark on Chapter 15 of the Bankruptcy Code. The lynchpin of Chapter 15 (and the Model Law on Cross-Border Insolvency) is the ability to locate a debtor’s center of main interests (COMI). If a debtor files for bankruptcy in the location of its COMI, then it is entitled to certain automatic protections from ancillary proceedings in other countries, e.g., the imposition of the automatic stay to bar all collection activities.

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Worker Representation in Bankruptcy

02/18/14

Thank you to the Credit Slips team and, in particular, Bob, for inviting me to guest blog.

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New Foreclosure Case Analyses Standing and Tangible Net Benefit

02/18/14

The New Mexico Supreme Court decided Bank of New York v. Romero, No. 33,224 slip op. (N.M. S. Ct.

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Welcome to Drew Dawson

02/17/14

Credit Slips is please to welcome Professor Drew Dawson as a guest blogger. Drew is on the faculty at the University of Miami School of Law where he teaches the bankruptcy, commercial law, and the other sorts of course you would expect from someone at Credit Slips. He has published on collective bargaining agreements in bankruptcy and offshore bankruptcies. He is relatively newer voice in the academy, and we are happy to have him join us for a while.

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Debtor, What Debtor?

02/16/14

The recent World Bank Report on the Treatment of the Insolvency of Natural Persons  highlighted in its first pages (13 and ff.) the alternatives regarding which debtors to be include in this special regime.

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Spain, six years later

02/12/14

First of all, I would like to thank the Credit Slips team and, in particular, Bob, for hosting me here again. I guess that after six years, memory is weak, and it is easier to believe that I could have something interesting to share with their readers. I hope that, at least, my posts will help to understand the present situation of Spanish Insolvency Law as regards personal bankruptcy. The latest amendments are said to be a dramatic change in our system.

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Insolvency + Tax Season = Good News?

02/11/14

After seeing yet another prominent news article grousing about the tax consequences of short sales and other forms of mortgage relief, I thought I'd pass along a discovery I made a few years back that seems to be ignored over and over in the popular press.

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Welcome Back to Javier Arias

02/10/14

Francisco Javier Arias Varona, Profesor Titular de Derecho Mercantil at the Universidad Rey Juan Carlos in Madrid, Spain, will be joining as a guest blogger for a few weeks. Long-time readers may remember Javier's last guest stint with us. Spain has recently taken steps to try to deal with some of its consumer insolvency problems. It might be more straight-forward to say Spain passed a bankruptcy law, but others might not label it a "bankruptcy law" for reasons Javier will elaborate.

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