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

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Expected Changes to the UK Corporate Moratorium

The three year review of CIGA (the Corporate Insolvency and Governance Act) published by the Insolvency Service suggests that we might see changes to the corporate moratorium process – will these address concerns about the process and encourage more

U.S. Supreme Court’s “Takings Clause” Ruling Also Applies To Tax Certificate Foreclosures

By: Donald L Swanson The U.S. Supreme Court recently declares that a government cannot take, in a tax foreclosure sale, more than what’s owed. That’s prohibited by the “Takings Clause” of the U.S. Constitution.[Fn. 1] The Supreme Court’s opinion is

Weekly News – July 7

Look Out for our New Feature Tell us what topics you want our panel to weigh in on: Exclusive Opportunism The Serta Opinion Conflicts of Interest in BK How much is too much? FTX gunning for Sub Con? Find the Second Interim Report Here Reminds us of

Index of Jim Shenwick, Esq Articles on Defaulted SBA EIDL Loans, Workouts, Offer in Compromise (OIC), & Bankruptcy

Defaulted SBA EIDL Loans, Limited Liability Company (LLC) and Cancellation of Debt Income (COD) under Section 108 of the Internal Revenue Code https://shenwick.blogspot.com/2023/07/defaulted-sba-eidl-loans-limited… Offers In Compromise ("OIC")

Defaulted SBA EIDL Loans, Limited Liability Company (LLC) and Cancellation of Debt Income (COD) under Section 108 of the Internal Revenue Code

Defaulted SBA EIDL Loans, Limited Liability Company (LLC) and Cancellation of Debt Income (COD) under Section 108 of the Internal Revenue Code As many readers of our emails and blog posts know, Shenwick & Associates has developed a specialty helping

July 7, 2023 Bankruptcy Quiz

Here’s this week’s Bankruptcy Quiz. In this quiz, I’m using or adapting questions from prior American Bankruptcy Board of Certification sample exams. Click the image to take the quiz. Click here for prior quizzes. If you enjoyed this post and would

Rule 41’s “Two-Dismissal” Rule Does Not Apply to Prior Contested Matter Where Objection is Filed

Airport Business Center v. Alfahel (In re Alfahel), No. 22-1219 (9th Cir. BAP June 1, 2023) On June 1, 2023, the U.S. Bankruptcy Appellate Panel of the Ninth Circuit upheld the decision of the U.S. Bankruptcy Court for the Northern District of California, which avoided a judicial lien held by Airport Business Center (ABC) pursuant... Continue Reading → The post Rule 41’s “Two-Dismissal” Rule Does Not Apply to Prior Contested Matter Where Objection is Filed first appeared on Higher Court.

Biden's Plan B on student loan forgiveness relies on Higher Education Act: What to know

Biden's Plan B on student loan forgiveness relies on Higher Education Act: What to know See article at https://abc7chicago.com/joe-biden-student-loan-forgiveness-plan-higher-… Jim Shenwick, Esq 917 363 3391 jshenwick@gmail.com

Guidance From Justices Gorsuch and Jackson on “Excessive Fines” Under U.S. Constitution (Tyler v. Hennepin County)

By: Donald L Swanson “ we need not decide whether she has also alleged an excessive fine under the Eighth Amendment.” –From U.S. Supreme Court’s unanimous opinion, Tyler v. Hennepin County, Minnesota, Case No. 22-166, at 14 ( decided May 25, 2023)

Evolution of AI: How Our Law Firm Uses Artificial Intelligence

Not Clear for Takeoff: How a Lawyer Loses an Airline Lawsuit for Using ChatGPT You may have read the story of the lawyer who filed a brief using artificial intelligence. Representing his client in a personal injury suit against Avianca Airlines, the

Are HMRC Critical To UK Restructuring Plans?

It’s now level pegging for HMRC on cram down – twice it has been crammed down, and twice it has not. In the most recent restructuring plan proposed by Prezzo, the court sanctioned the company’s restructuring plan and crammed down HMRC as both

Commercial Chapter 11 Filings Increased 68% Y/Y in the First Half of 2023

Commercial Chapter 11 Filings Increased 68% Y/Y in the First Half of 2023 see the article at https://www.monitordaily.com/news-posts/commercial-chapter-11-filings-i…

Ninth Circuit BAP Overturns Summary Judgment Due to Misapplication of Issue Preclusion Under Ohio Law

Westhuizen v. Sky (In re Westhuizen), No. 22-1133 (9th Cir. BAP June 2, 2023) On June 2, 2023, the U.S. Bankruptcy Appellate Panel for the Ninth Circuit overturned a bankruptcy court entry of summary judgment for nondischargeability under Bankruptcy Code § 523(a)(6).  The panel ruled that the bankruptcy court erroneously applied issue preclusion under Ohio... Continue Reading → The post Ninth Circuit BAP Overturns Summary Judgment Due to Misapplication of Issue Preclusion Under Ohio Law first appeared on Higher Court.

"'Here's What Happens When You File For Bankruptcy" Motley Fool

The Motley Fool has an article titled Here's What Happens When You File For Bankruptcy The article can be found at https://www.fool.com/the-ascent/personal-finance/articles/heres-what-ha… Clients with questions about

Subchapter V Trustee’s “Facilitate” Duty: A Confidentiality Dilemma

By: Donald L Swanson A Subchapter V Trustee “shall . . . facilitate the development of a consensual plan of reorganization.” [Fn. 1] This is a mediator-ish role: a “third party” who “participates to assist in the resolution of issues in controversy.”

Weekly News – June 30

Look Out for our New Feature Tell us what topics you want our panel to weigh in on: Exclusive Opportunism The Serta Opinion Conflicts of Interest in BK 2023 Restructuring Symposium Click through to view the slides from the Symposium Floating Rate

June 2023 Ponzi Scheme Roundup

Posted by Kathy Bazoian Phelps Below is a summary of Ponzi scheme activity reported for June 2023. Seventeen new Ponzi schemes came to light this month, involving over $1 billion of investor dollars. Over 62 years of prison sentences were imposed on

June 30, 2023 Bankruptcy Quiz

Here’s this week’s Bankruptcy Quiz. In this quiz, I’ll test which of you read the “ABI Headlines Delivered” emails from John Hartgen. Click the image to take the quiz and have a great 4th of July Week! Click here for prior quizzes. If you enjoyed

Eighth Circuit BAP Holds Increase in Equity Belongs to Estate in Converted Case

Goetz v. Weber (In re Goetz), No. 22-6009 (8th Cir. BAP June 1, 2023) On June 1, 2023, the U.S. Bankruptcy Appellate Panel for the Eighth Circuit affirmed a bankruptcy court’s denial of a motion by the Debtor Machele Goetz to compel abandonment of

5 Reasons Why Bruce Levitt Is The Right NJ Bankruptcy Lawyer for You

Filing for bankruptcy can be a stressful and overwhelming experience, but having the right bankruptcy lawyer by your side can make all the difference. Bruce Levitt, a partner at Levitt and Slafkes in Maplewood, New Jersey, is an experienced NJ