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Balloon-PaymentIn In re Cochran, Ch. 13 Case No. 15-52314-aec, 2016 WL 4575557 (Bankr. M.D. Georgia, September 1, 2016), the primary issue was “whether a plan that calls for distributions in the form of monthly payments followed by a balloon payment to a creditor holding a claim secured by the debtor’s real property complies with §1325(a)(5)(B)(iii)(I) of the Bankruptcy Code.”

Read More from: Georgia Bankruptcy Blog

2 weeks 4 days ago

In re Horsehead Holding Corp., No. 16-10287 (CSS) (Bankr. D. Del. Sept. 2, 2016)

Following a three day confirmation trial, which attracted scores of shareholders and running commentary via live tweets from the courtroom, Judge Sontchi confirmed the second amended plan of reorganization (the “Plan”) proposed by Horsehead Holding Corp. and its affiliated debtors (“Horsehead”) over the objection of the official committee of equity holders (the “Equity Committee”), holding that the Plan was proposed in good faith and satisfied the absolute priority rule.  His Honor described the decision as one of the most difficult and closest calls that he has had to make during his time on the bench. Read More ›

Read More from: Delaware Bankruptcy Insider

2 weeks 4 days ago

The Federal Deposit Insurance Corp.Â's recent statements encouraging new bank applications are promising, but some barriers to new charters may remain inside the FDIC and we are still waiting for the first de novo of 2016.

Read More from: BankThink

2 weeks 4 days ago

Receiving Wide Coverage ...

Barclays expands team: Tim Throsby, JPMorgan's global head of equities, is moving toBarclays as head of its corporate and international division and chief executive of its corporate and investment bank. He is the latest JPM executive to join CEO James E. Staley, himself a former JPM veteran, at the British bank. Previous JPMorgan hires include Paul Compton, who was named Barclays group chief operating officer in February, and CS Venkatakrishnan, Barclays' new...

Read More from: BankThink

2 weeks 4 days ago

11 U.S.C. Sec. 101(32)(C) — definition of municipal insolvency

By Donald L. Swanson


A City has been struggling for years to provide adequate services.
Then, the City and its police officer are sued for violating the plaintiff’s civil rights.
A jury verdict is for many-millions of dollars—an amount multiple times the City’s annual budget. Defendants appeal.
Plaintiff starts executing on the judgement. So the City files bankruptcy.


Does the City meet the “insolvent” element of eligibility for bankruptcy filing, under § 109(c)(3) of the Bankruptcy Code?

Statutory Standard:

“Insolvent” for a municipality is defined in § 101(32)(c) of the Bankruptcy Code as follows:

(32)The term “insolvent” means—  . . .

Read More from: Mediatbankry

2 weeks 4 days ago

Well, I wrote something good about a student loan

Student Loan News
Student Loan News

servicer last week, but, Student Loan News this week

reverts to form.

Student Loan News:  Wells Fargo fesses up

Sort of.

As part of a deal announced Monday, the San Francisco banking giant did not admit or deny wrongdoing but agreed to pay a $3.6-million penalty to the Consumer Financial Protection Bureau, plus $410,000 in refunds to borrowers who paid fees that the bureau said should never have been charged.

Read More from: Discharge Student Loan

2 weeks 4 days ago

Attorney Ron SykstusIllegal Debt Collection is always the number one complained about problem by consumers, both to the Federal Trade Commission (FTC) and to the Consumer Protection Financial Bureau (CFPB).   In what should end up being good news for consumers in our country, on July 28, 2016, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued its outline of proposals under consideration for the regulation of debt collection.  Don Lawson in  our Tennessee office wrote extensively about these changes.    Additionally, these proposed changes received national press coverage.

Read More from: Bonds & Botes, P.C.

2 weeks 5 days ago


Why is filing bankruptcy so much work?

Paper.  Statements. Tax returns.  Car contracts.  Pay stubs.  Appraisals.  Title reports. Credit counseling.

It gets tedious fast.

So, why is bankruptcy so complicated?

Do you want the polite, professional answer, or the pointed, political answer?

Bankruptcy bargain

Polite answer first:  the bankruptcy bargain, your deal with the legal system & your creditors, is disclosure in exchange for the discharge.

Make full disclosure of what you have, who you owe, and what you’ve done with your money recently and you get a discharge.

You need to cooperate with the trustee and live with the legal consequences of the mix of assets, exemptions, and avoidance powers.

But tell the whole story honestly and you shed the dischargeable debts in your life.

3 weeks 14 hours ago

Basketball-Wetten ist Sportwettenanbieter Deutschland die zweitbeliebteste Wette hinter Wetten auf Fußball. In einer Saison, in dem jedes Team 82 Spiele spielt, gibt es viele Möglichkeiten für die Spieler falsche Linien zu finden und diese Zeilen zu ihrem Vorteil nutzen. Die Wetten Deutschland allgemeinen Wett öffentliche Leitungen Kräfte eine gewisse Art und Weise eingestellt werden. Diese … „NBA Basketball Wetten – Drei Sportwetten Systeme Sie sofort umsetzen können“ weiterlesen

Read More from: Los Angeles Bankruptcy Blog

3 weeks 17 hours ago

My sentiments, exactly ! Thanks for sharing, Steven !


How many times were you told when you were growing up that you should do what makes you happy? Dozens? Hundreds?  I was told that over and over, and I struggled with it through university.  After taking a 4 year break teaching English in Japan, I went to law school.  I then graduated at a terrible time for attorneys.  Large firms were not hiring, government was not hiring, so I put out nearly one hundred applications until I was picked up by a large consumer bankruptcy law firm in Ohio.  I had no idea how I was going to like practicing bankruptcy law.  None.  About a year into it, I realized I really liked what I did.  Now nearly 1000 cases in, I love it.  I lucked into a career that I love.

3 weeks 1 day ago

Regulatory infighting over bond loans offered by down payment assistance programs has the potential to curtail lending to first-time buyers and do real damage to homeownership.

Read More from: BankThink

3 weeks 1 day ago

New Jersey Real Estate LawyersThe vast majority of Americans who rent do not have the necessary income or credit score to actually purchase a home. That news comes courtesy of a recent study by Zillow, an online real estate database company that helps to connect potential homebuyers with home sellers.

The study found that approximately 86 percent of renters in major US markets are not in a financial position to buy a house.

3 weeks 1 day ago

Fannie Mae and Freddie Mac can still manage their risk exposure even after reducing or eliminating "loan level price adjustment" fees.

Read More from: BankThink

3 weeks 1 day ago

Which will prevail?

By: Donald L. Swanson

“It is not established whether Local Rule 84.9 [on mediation confidentiality] would resolve the FOIA question because local rules do not clearly fit within a recognized FOIA exemption.”

Judicial Watch, Inc. v. U.S. Dept. of Justice, 813 F.3d 380 (D.C. Cir. 2016).

This quote comes at the end of a lengthy opinion dealing with multiple issues.  And it almost seems like a throw-away line.

But it’s an unfortunate line, causing uncertainty and confusion in the mediation world.

–Is the Court actually suggesting that mediation documents can be obtained under Freedom of Information Act [“FOIA”], despite local court rules requiring mediation confidentiality?

–Apparently so.

The local mediation rule in the Judicial Watch case provides as follows:

Read More from: Mediatbankry

3 weeks 1 day ago

Gail DonaldsonWe have a number of clients who are employed by the Montgomery Public School system who will not be paid on time due to a ‘human error’ with the direct deposit pay system.  A majority of our clients live pay check to pay check, so this error puts them in quite the bind.  Some have payroll auto drafts that may incur additional fees due their wages not being paid as it should have been.  In one news release, the MPS Superintendent Margaret Allen states that employees who are affected by additional charges can submit documentation to be reimbursed.  Ms. Allen further states that the area banks are being notified and asked to waive any charges they may impose.

Many clients also have payroll deductions for their Chapter 13 payments.  Once the funds have been issued, the Chapter 13 payment should be deducted.  If the deduction is delayed by a few days, it should not affect your Chapter 13 case since the system is only required to remit the monies once a month to the Chapter 13 Trustee’s office anyway.

Read More from: Bonds & Botes, P.C.

3 weeks 1 day ago

Editor's note: Morning Scan will not publish on Monday, Sept. 5 in observance of Labor Day. We'll be back on Tuesday, Sept. 6. Wall Street Journal

Stressed out: Bank trade groups are mulling whether to sue the Federal Reserve to challenge the methodology it uses to perform its annual stress tests on financial institutions. Some banks believe the Fed is violating the Administrative Procedure Act by not allowing public input into the test, including from the banks...

Read More from: BankThink

3 weeks 1 day ago

iStock_000001293540_MediumWhen we review security for financiers, we always consider what enhancements they might implement to strengthen their security net. As part of this approach, we obtain a proprietor search from the Land Registry to see if there is any uncharged property in the name of the borrower.

Read More from: eSQUIRE Global Crossings

3 weeks 1 day ago
Yesterday, August 31, President Obama appointed the 7 voting members of the oversight board for Puerto Rico under the law colloquially known as Promesa.  The board has a broad charter and a ridiculously impossible task in front of it. 

Read More from: Necessary and Proper

3 weeks 2 days ago

Wells Fargo has worked toward achieving gender diversity internally, now it's courting women-owned businesses. Sallie Krawcheck says if organizations wanted to fix the gender pay gap, they could Â-- easily. Meanwhile in Silicon Valley, the majors are promising to pay their male and female employees equally, and Accenture finds women on boards are twice as likely to have the right technology experience for a company as their male counterparts.

Read More from: BankThink

3 weeks 2 days ago