By: Laura Day DelCotto The year end news is full of the repercussions of the interest rate increases for everyone, including issuers of municipal bonds. Municipal debt is never immune from the private sector market forces. I am sometimes frustrated by the general...
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Risks of Practicing in Bankruptcy Court
By: Dean A. Langdon You may have seen publicity about bankruptcy cases where legal fees run into the millions of dollars (or more). But bankruptcy courts have a unique process for paying attorneys that represent debtors, trustee or creditor committees. The attorneys...
Crypto Uncertainties Mount: What Happens in a Bankruptcy?
By: Laura Day DelCotto Now that the lights are coming on in financial markets, there is more chatter and mostly speculation about what would happen in a cryptocurrency corporate bankruptcy. Recent reports on the Coinbase SEC 10-Q filed in May, 2022 have been in the...
Pulling a “J. Crew” – Loopholes in Loan Documents Create Fashionable Surprises
By: Laura Day DelCotto Showing my age, I have loved J. Crew since the preppy days of the 1980s. When I was pulling a J. Crew, that usually meant I was using my father’s credit card to go to the mall and get some pink and green. However, in 2022, “pulling a J. Crew”...
Buyer Beware: Bankruptcy Sale Needs Notice – Due Process 101
By: Laura Day DelCotto So, we know from our long experience here that bankruptcy sales can get very messy. The Seventh Circuit’s recent 5 page opinion makes it clear that the one who needs to care the most is often the buyer. Notice of Sale is a Basic Right In...
Embezzlement and Larceny: Recent Reminders About Earning Your Discharge Under 11 USC Section (a)(4)
By: Laura Day DelCotto The primary goal of filing bankruptcy is commonly understood to be the receipt of a discharge of debt, and having a “fresh start” in life. There are probably thousands of cases that state this legal proposition, including Supreme Court cases...
Debt Limits Increase for Chapter 12 and 13 Bankruptcy on April 1, 2022
Per Bankruptcy Code section 104, the dollar amounts in the Bankruptcy Code are adjusted every three years to account for inflation. The next increase will take effect April 1, 2022 and include increases for the debt limits to chapter 12 and chapter 13 bankruptcy...
Options After Mortgage Forbearance Ends
By: Dean A. Langdon Thousands of households had the opportunity to get a break on their mortgage payments during the Covid-19 pandemic. Foreclosures on many residential mortgages were prohibited, which certainly helped avoid a homelessness crisis during the pandemic....
Five Reasons to File Chapter 13 Bankruptcy
Chapter 13 bankruptcy permits individuals with regular income to file a three to five-year repayment plan to address their debts. There are several advantages to filing Chapter 13 bankruptcy as opposed to Chapter 7 bankruptcy. Here are (5) five primary reasons...
State or Federal Exemptions – KY Bankruptcy Court Opinion
Bankruptcy Judge Charles R. Merrill issued an opinion[1] on January 10, 2022 that proceeds from the pre-petition sale of a homestead not being exempt under the federal exemption 11 U.S.C. §522(d)(1. This provides, in relevant part, for an exemption in “the debtor’s...