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Insolvency Service “reframes” view of creditor – IPs can apply their discretion (UK)

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January 2025 Ponzi Scheme Roundup

By Kathy Bazoian Phelps Below is a summary of Ponzi scheme activity reported for January 2025. There were at least 5 new Ponzi schemes revealed this month, 3 guilty pleas, and 2 convictions. Ponzi schemers received more than 66 years of prison

Keeping Your House as a Widow in Bankruptcy

Keeping Your House as a Widow Filing Bankruptcy in Virginia One of the tragedies of being a widow is this: You lose the protection for your house that Virginia law gives a married couple filing bankruptcy. After losing her husband, a widow under

Keeping Your House as a Widow in Bankruptcy

Keeping Your House as a Widow Filing Bankruptcy in Virginia One of the tragedies of being a widow is this: You lose the protection for your house that Virginia law gives a married couple filing bankruptcy. After losing her husband, a widow under

BAPCPA: Did It Reduce Credit Card Interest Rates? (A Study)

By: Donald L Swanson BAPCPA harmed honest but unfortunate consumers in these United States. It did so by moving them out of Chapter 7 bankruptcy and into an unworkable Chapter 13 system that few consumers can use effectively in times of economic

Contact Levitt & Slafkes Before You Get Married to Discuss Bankruptcy

SHOULD MY FIANCÉ FILE BANKRUPTCY BEFORE WE GET MARRIED? You’ve found the one. You’ve planned the wedding. You’re ready to walk down that aisle, but you want to know, when your officiant asks, “if you take this person to be your spouse, for richer or

Recovering costs for dealing with fixed charge assets – lessons for practitioners and security holders (UK)

The decision handed down in Pagden and another v Ridgley [2024] EWCH 3047 (Ch) is a helpful clarification on whether agreed costs and expenses incurred by an office-holder in the context of dealing with assets which are subject to a fixed charge in

ABCs & Bankruptcy, Part 3: Common Law ABCs Are Constitutional, But Statutory Bells & Whistles (e.g., Discharge) Are Not (Boese v. King)

By: Donald L Swanson The common law of assignments for benefit of creditors (“ABCs”) has been around for a very long time as an out-of-court process under the law of trusts: debtor is trustor, assignee is trustee, and debtor’s creditors are

New UK Regulations Enhance Insolvency Practitioners’ Access to Data held by Companies House

The Information Sharing (Disclosure by the Registrar) Regulations 2024 (the “ Regulations“) came into force in December 2024. The Regulations enhance insolvency practitioners (including the Official Receiver) (“ IPs“) powers of investigation by

Bankr. E.D.N.C.: In re Steinke- Death of Debtor and Tenancy by the Entireties

Bankr. E.D.N.C.: In re Steinke- Death of Debtor and Tenancy by the Entireties Ed Boltz Tue, 01/28/2025 - 00:19 Summary: Married debtors filed for Chapter 13 bankruptcy on February 16, 2024, with real property owned as Tenants by the Entirety and

4th Cir.: Smith v. Devine- Sanctions for Discovery Abuses and W.D.N.C.: Smith v. Payne: Temporary Withdrawal of Reference for Pre-Trial

4th Cir.: Smith v. Devine- Sanctions for Discovery Abuses and W.D.N.C.: Smith v. Payne: Temporary Withdrawal of Reference for Pre-Trial Ed Boltz Mon, 01/27/2025 - 01:20 Background: BK Racing, LLC filed for Chapter 11 bankruptcy in 2018. Matthew W

Weekly News – January 24

2025 Symposium Registration is Now Open! Advisor Rankings (Gibson nearly overtakes Kirkland…), Musk avoids the ax, Altice end-game, and much, much more… Creditor Corner Your weekly curated content from the Creditor Rights Coalition Over 2,800 member

What Happens in Chapter 13 When You Get Divorced?

Going through bankruptcy is not exactly a pleasant experience. Neither is getting a divorce. Unfortunately, some people end up going through both at the same time. While these are technically separate legal proceedings, your divorce could have

E.D.N.C.: Lewis v. Equityexperts.org II- Class

E.D.N.C.: Lewis v. Equityexperts.org II- Class Ed Boltz Sun, 01/26/2025 - 01:00 Summary: The District Court addressed motions to certify a class action and to extend deadlines in a lawsuit alleging improper debt collection practices under federal and

Risk of personal liability for directors who re-use a company name: The UK Court provides clarity on one of the exceptions.

Using the same or similar name of a company that is in insolvent liquidation is prohibited by s 216 of the Insolvency Act 1986 (IA). A director who acts in breach of s216 by being a director of, or being involved in the promotion, formation or

Comparison of Directors’ Duties Across Europe

This article, that was recently published in INSOL, provides a comparison of directors’ duties between several European jurisdictions – England and Wales, Germany, Italy, the Czech Republic and the Slovak Republic. It explores the role of directors

BAPCPA: What About Middle Class Families Facing Economic Catastrophes? (A Study)

By: Donald L Swanson Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“BAPCPA”): “A person who had a heart attack is treated the same as someone who had a spending spree at the mall”; and So, BAPCPA created a “ worsening of

ABCs & Bankruptcy, Part 2: Complementary, Not Competing Processes

By: Donald L Swanson A sweet-spot for an assignment for benefit of creditors (“ABC”) in today’s world is this: a failing business needs to liquidate; and bankruptcy laws are inadequate or too expensive. An ABC fills-in where bankruptcy doesn’t work

Will UK business face supply chain challenges now Trump is in office?

Throughout his 2024 campaign, President Donald Trump vowed that if re-elected, he would address unfair trade practices, rebalance trade relationships, and fund other economic proposals through new and expanded tariffs. With his return to the White

Weekly News – January 17

2025 Symposium Registration is Now Open! Market reacts to Serta, Better Health LME raises eyebrows, Coops and more post Serta, Sacklers pony up more $$$$, and JoAnn chapter 22 much more… Creditor Corner Your weekly curated content from the Creditor

(US) Fifth Circuit Puts Serta Simmons Uptier Transaction to Bed

On December 31, 2024, the U.S Court of Appeals for the Fifth Circuit issued a unanimous decision reversing the bankruptcy court’s ruling that allowed an uptier transaction entered into by Serta Simmons Bedding, LLC (“Serta Simmons”) in 2020 (the