One of the questions I get asked most during a free consultation is whether or not I think that someone has enough debt to file bankruptcy. This can be a tough question, and I try not to weasel out of answering it with typical lawyer answers. First, it is really up to my potential client…Read more
3rd Circuit Court of Appeals Bankruptcy Decision – In re Taylor
The United States Trustee, Region 3 (“Trustee”), appeals the reversal by the District Court of sanctions originally imposed in the bankruptcy court on attorneys Mark J. Udren and Lorraine Doyle, the Udren Law Firm, and HSBC for violations of Federal Rule of Bankruptcy Procedure 9011. The Taylors filed for a Chapter 13 bankruptcy in September…Read more
What is the Definition of Claim in Bankruptcy?
Section 101(5) of the Bankruptcy Code defines “claim” as the (A) right to payment, whether or not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured; or (B) right to an equitable remedy for breach of performance if such breach gives rise to a right…Read more
What Income Do I Have to Include When I Complete the Bankruptcy Means Test?
If you’ve been doing your research, you know that in order to qualify for Chapter 7 bankruptcy, your household income must be below the median income for your household size. Under Section 101(10A)(B) of the Bankruptcy Code, income includes any amount paid by any entity other than the debtor (or in a joint case the…Read more
5th Circuit Court of Appeals Opinion – Hardy Rawls Enterprises LLC v. Lowell T. Cage
Hardy Rawls Enterprises, LLC (“HRE”) appeals the district court’s order affirming the bankruptcy court’s denial of its proof of claim. The Trustee filed an objection to HRE’s claim, arguing: (1) that HRE had failed to provide documentation supporting the amounts due on its claim; (2) that HRE had failed to perfect its interest in the…Read more
Medical Debt Causing More People to File Bankruptcy
If you’re thinking about bankruptcy, there are probably three reasons you’re doing so: unemployment, divorce, or medical debt. It turns out more and more people are turning to the bankruptcy courts for relief after they have been overwhelmed by unexpected medical bills. According to an article on NYTimes.com, Medical debt is increasingly a factor in…Read more
8th Circuit Court of Appeals Bankruptcy Decision – In re: Walker (Walker v. Educational Credit Management Corporation)
The Educational Credit Management Corporation (ECMC) appeals from the judgment of the bankruptcy court, later affirmed by the Bankruptcy Appellate Panel (BAP), which discharged the student loan debt of Michele D. Walker (Walker) under the “undue hardship” provision of Bankruptcy Code Section 523(a)(8). Section 523(a)(8) of the Bankruptcy Code provides that debts from educational loans…Read more
10th Circuit Bankruptcy Appellate Panel Decision – In re: Ruiz (Jubber v. Ruiz)
Appellant, Gary E. Jubber, Trustee (the “Trustee”), appeals the bankruptcy court’s decision denying his motion to require Appellees, Jose L. Ruiz and Carrie Ruiz (“Debtors”), to turn over estate assets. The bankruptcy court, while recognizing a split in authority on this issue, held that the Trustee could not recover from Debtors the amount that was…Read more
5th Circuit Court of Appeals Bankruptcy Decision – Robert Sigillito, et al v. Jerry Hollander, Jr., et al
This case arises from a bankruptcy dispute about a house in Louisiana that Plaintiffs-Appellees Jerry and Sheila Hollander sold to Defendants-Appellants Robert and Rhonda Sigillito. The Sigillitos sued the Hollanders seeking rescission, damages, and attorneys’ fees under state law redhibition and fraud statutes. The bankruptcy court ruled in the Sigillitos’ favor on the redhibition theory…Read more
2nd Circuit Court of Appeals Bankruptcy Decision – In re: Bernard L. Madoff Investment Securities LLC
Former investors with Bernard L. Madoff appeal from an order entered by the United States Bankruptcy Court for the Southern District of New York in the liquidation proceedings of Bernard L. Madoff Investment Securities LLC under the Securities Investor Protection Act (“SIPA”). The Trustee, Irving H. Picard, concluded that the investors’ “net equity,” which determines…Read more
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