US Bankruptcy Court By: Mass. Lawyers Weekly Staff March 16, 2022 Where a debtor has failed to comply with an administrative order requiring it to pay restitution to consumers, the debt is not exempt from discharge under 11 USC §523(a)(7), because the The debtor’s obligation of restitution is not “payable to and for the benefit […]
After more than 15 years at Facey, Goss & McPhee, a local attorney took over as U.S. bankruptcy judge for Vermont on Monday. Heather Zubke Cooper has a “broad and diverse background in bankruptcy law” with over 20 years of experience in “the finance and restructuring industry, representing individual and corporate debtors and creditors in […]
COOPERSVILLE — A West Michigan-based environmental consulting firm has filed for Chapter 11 bankruptcy as it positions itself to sell the business to an industry competitor. Superior Environmental Corp. filed in the U.S. Bankruptcy Court for the Western District of Michigan on Feb. 25 under Subchapter V of the federal bankruptcy code, a variant of […]
United States: New York Federal Court Upholds Bankruptcy Court Fraudulent Transfer Finding for Tax Sale Foreclosure March 01, 2022 Riker Danzig Scherer Hyland & Perretti To print this article, all you need to do is be registered or log in to Mondaq.com. The United States District Court for the Western […]
Offshore drilling contractor Seadrill announced its exit from Chapter 11 bankruptcy on Wednesday after completing its reorganization. The plan was upheld by the U.S. Bankruptcy Court for the Southern District of Texas on October 26, 2021. “The restructuring significantly reduced the company’s balance sheet by balancing approximately $4.9 billion of collateralized bank debt previously held […]
A year after a historic winter storm left millions of Texans without power for days, the state’s largest electric cooperative is expected to open its case in federal bankruptcy court in Houston on Tuesday, saying it was overcharged hundreds of millions of dollars by the Texas network manager. Waco-based Brazos Electric which serves 1.5 million […]
WASHINGTON, DC – JANUARY 20: U.S. Secretary of Education Miguel Cardona speaks at the 90th … [+] USCM Winter Meeting on January 20, 2022 in Washington, DC. (Photo by Alex Wong/Getty Images) Getty Images Student borrowers hoping for an easier path to student loan discharge through bankruptcy have received mixed messages from the Biden administration […]
Oil prices hit their highest level in more than seven years last week, but that hasn’t stopped a San Antonio oil and gas company from filing for bankruptcy protection. Active resources, formed in 2003, filed a Chapter 11 bankruptcy petition on Thursday that listed assets and liabilities each between $10 million and $50 million. A […]
United States: “Take-Four”: Another Court Overturns Third-Party Versions January 31, 2022 Cullen and Dykman To print this article, all you need to do is be registered or log in to Mondaq.com. There has been much discussion regarding the recent appeal decision of the District Court of Purdue Pharma. See In […]
Dondero vs. Alvarez & Marsal CRF Management, LLC et al, Adv. proc. 21-03051 (Bankr. ND – Texas, January 4, 2022) Judge Stacey GC Jernigan introduction Civil procedure matters aren’t the sexiest topics, and probably for that reason, I rarely see blog posts focused on purely procedural matters. The Northern District of Texas Bankruptcy Court was […]
Hello and welcome to MarketWatch. Additional credit column, a look at the news through the prism of debt. A pernicious and often ridiculed aspect of student loans is that, unlike credit card debt or a car loan, they can follow a borrower forever because they are impossible to discharge in the event of bankruptcy – […]
When is good news not necessarily good news? The number of bankruptcy filings has dropped significantly in the United States. This seems like good news. But is it? According to a recent CNBC report, there were 434,540 bankruptcy filings in the United States in 2021, for the year ending 9/30/21. This compares to 776,674 filings […]
This is the second article in ‘Back to Basics’, a series of articles examining insolvency processes in Scotland. This article will examine the judicial receivership process, focusing on the claims of creditors. Receivership is the Scottish legal term for personal bankruptcy. In a court order for receivership, a trustee is appointed to collect and realize […]
Wednesday, December 8, 2021 Justice Craig Whitley’s recent transfer of the LTL Management case will result in a high-profile “Two-Step Texas” Chapter 11 bankruptcy in New Jersey, and it could open a new chapter in how the courts are approaching the news. transaction designed to isolate and deal with certain tort masses. Debtor LTL Management […]
FORT COLLINS – Nitrocrete LLC and four affiliated entities, including parent company Nitro Holdings LLC, have filed for Chapter 11 bankruptcy, blaming the disruption caused by the COVID-19 pandemic. Bankruptcy petitions were filed on November 18 in the U.S. Bankruptcy Court in Denver for these two entities, as well as for affiliates Nitrocrete IP LLC, […]
DENVER – Bankruptcy filings in Colorado continued to decline from last year’s figures in November, falling 26.47% from the same period in 2020, with bankruptcy filings also falling in November. Boulder, Broomfield and Larimer counties. Weld County saw an increase in bankruptcy filings during the month. That’s according to a BizWest analysis of US Bankruptcy […]