ABI Blog Exchange

Signature Styles (Spiegel, Newport News) Seeks to Pay Google's Almost $900,000 Pre-Petition Claim for AdWords Usage as Critical Vendor

Trustee in Opus East Bankruptcy Files Preference Actions in Delaware

Last month, Jeoffrey Burtch, the Chapter 7 Trustee (the "Trustee") in the Opus East bankruptcy filed approximately 90 preference actions against various defendants. As stated in his complaints, the Trustee "seeks to avoid and recover ... all

Beso Investor Wants to Put Longoria Under Spotlight

Reuters Eva Longoria is used to the spotlight, but the latest request for the actress’s appearance doesn’t involve the red carpet. Instead, the “Desperate Housewives” star is being asked to show up for questioning at a court-reporting firm in Las

Preserving Causes of Action In Plans

These days, defendants are getting more aggressive about repelling suits from bankruptcy estates. From jurisdictional squabbles based on Stern v. Marshall to judicial estoppel to failure to preserve a cause of action in a plan, the plaintiff’s road

For-Profit Higher Education Industry Sues to Block Weak “Gainful Employment” Rule

Last week the Association of Private-Sector Colleges and Universities (aka the Career College Assn.) filed suit in U.S. District Court in Washington, D.C., to block enforcement of the U.S. Dept. of Education’s “Gainful Employment” regulation, issued

Maguire's poker lawsuit heading to trial

"Tobey Maguire's legal battle against the bankrupt trustees of convicted conman Bradley Ruderman is heading to trial in January, 2012. The Spider-Man star is accused of beating Ruderman in a series of unlicensed poker games in California, taking more

Post-Bankruptcy Survival: Three “Financial” Products You Should Avoid

Financial trouble is a part of life, even after you have filed bankruptcy it’s normal that you will have some rough times ahead. At least once every ten years, most Americans face at least one major financial issue. But how should you handle

More Bankruptcy Filings To Come As Americans Increasingly Rely On Credit Cards

More Americans are relying on credit cards as their wages stagnate or shrink and food/fuel prices continue to rise. After- tax income adjusted for inflation fell 0.1 percent from January through May, according to figures from the Commerce Department

Bankruptcy Court Has Right To Enter Monetary Judgment Against Debtor

In the Chapter 7 bankruptcy case of a Texas debtor, the state Probate Court issued an order directing that a certain amount of money be paid to a plaintiff in the case and that the bankruptcy case be dismissed. The debtor argued that it is not in the

Bankruptcy Fraudster Finally Headed for Jail

Bankruptcy fraud is a serious crime, as the story of Brent Farris illustrates. According to the Kansas City Star, St. Louis resident Farris pleaded guilty to bankruptcy fraud in 2004 but fled the country and avoided getting caught until earlier this

Second Circuit Affords Safe Harbor Protections to Redemption of Commercial Paper

The Court of Appeals for the Second Circuit recently decided, as an issue of first impression, whether section 546(e) of the Bankruptcy Code, which shields “settlement payments” from avoidance actions in bankruptcy, extends to an issuer’s redemption

Chapter 7 Bankruptcy Trustee Responsibilities and Remuneration

The U.S. House Judiciary Subcommittee is meeting this morning to hear testimony regarding increasing compensation for Bankruptcy Trustees. According to testimony by Robert C. Furr, a past President of the National Association of Bankruptcy Trustees

When Bankruptcy Benefits Criminals? Comparing O.J. And Casey.

After reading and considering my posts regarding legal issues in a Casey Anthony bankruptcy, an attorney sent me an email asking why O.J. did not file Chapter 7 bankruptcy. He asks why would bankruptcy work for Casey if it did...

Same-sex marriage, real estate and bankruptcy

Here at Shenwick & Associates, we have been following last month's passage by the New York Legislature and signing into law by Governor Cuomo of the Marriage Equality Act ("the Act"), which became effective on July 24, 2011. This law formally

The Daily Docket: U.K. Court Dismisses Lehman Appeal

Britain’s Supreme Court on Wednesday dismissed an appeal by units of Lehman Brothers Holdings Inc. and Bank of New York Mellon, a win for investors in a high-stakes legal dispute involving complex derivatives transactions that has divided courts on

Asset Advice From Minooka Bankruptcy Attorney

Link If you file a Chapter 7 bankruptcy case that has assets, you may lose those assets in exchange for your fresh start. Picture Chapter 7 bankruptcy as the case goes before the trustee. He is like a crane in that old novelty game where you try and

At-Will Contracts Are Not Executory Contracts

Executory contracts get special treatment in bankruptcy. They are roughly defined as a contract where both parties still have to perform – think lease - unlike a loan where the lender’s obligations ended when the loan was made. Executory contracts

Jeremy Siegel (Wharton) & Robert Shiller (Yale): How to Clean Up the Debt Mess?

10 fun, frugal summer activities

Keeping the kids entertained this summer can cost almost nothing with these thrifty ideas.

Who needs a high-yield checking account?

People who have idle cash and want a little return should weigh interest-bearing checking.