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Here at Shenwick & Associates, the magic word for our debtor bankruptcy clients (we represent creditors, too) is "discharge." When a debt is discharged in bankruptcy, the debtor no longer has any personal liability for the debt and the creditor can no longer communicate with or take legal action against the debtor for the debt. This is the primary reason why debtors file for bankruptcy.However, not all debts are dischargeable in bankruptcy. Section 523 of the Bankruptcy Code specifically lists many exceptions to discharge, including debts "obtained by–false pretenses, a false representation or actual fraud . . ." (§ 523(a)(2)(A)) and any debt "for willful and malicious injury by the debtor . . ." (§ 523(a)(6)).This section of the Bankruptcy Code dates back to the Bankruptcy Reform Act of 1978, and since then, the federal courts have had to interpret the statute. For example, in Kawaauhau v.

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2 days 16 hours ago
The Supreme Court’s decision in Till v. SCS Credit Corp. created quite a stir among bankruptcy practitioners because of its effect on what interest rate might constitute the proper rate to compensate secured lenders forced to accept loans pursuant to a chapter 11 plan.  For some, this was troubling, as the decision in Till involved a chapter 13 case and the collateral securing the secured claim was a single pickup truck — certainly not the facts of a large commercial chapter 11 case.  Today’s post isn’t about interest rates; however, it does involve a truck — a GMC pickup truck, to be specific.  And although this decision is not likely to have the same sort of notoriety that the Till decision has had, this decision from Bankruptcy Court for the District of Idaho is, nevertheless, worthy of a read as it provides practitioners with some noteworthy reminders on the law of fraudulent and preferential transfers. Facts
2 days 20 hours ago
Beginning today, ISS is accepting updates to companies’ self-selected compensation benchmarking peers, if those companies have annual meetings scheduled between February 1, 2016 and September 15, 2016. Submissions are due by 8:00 p.m. EST on Friday, December 11, 2015.
2 days 22 hours ago
The rapid growth of competition from nonbanks has the potential to hit community banks harder than the mortgage meltdown.

Read More from: BankThink

2 days 23 hours ago
Claims trading is a thriving cottage industry in bankruptcy cases. By some accounts, it’s a $40B+ business. While we generally anticipate seeing general unsecured claims purchased (whether for strategic reasons related to plan confirmation or economic bets), we’ve seen an increase in purchases of § 507(a)(8) priority tax claims (especially ad valorem tax claims and judgments). Common players in our area include Investa Services and Riah Capital Management, entities who specialize in investing in property tax claims.
A recent Nevada case reminded us of an interesting question that we litigated in one of our cases when these claims buyers popped-up: Is the purchaser of a tax claim entitled to the same priority treatment as the original governmental holder? The answer is no.
Intersection of § 507(a)(8) and § 1129(a)(9)

Read More from: Plan Proponent

2 days 23 hours ago
Wall Street Journal Shoppers are losing their patience with Black Friday sales, because it's so difficult to figure out what's the best deal on saving money, because of the layers of coupons, flash sales and other discounts. Retailers aren't the only ones at fault. Banks, too, have confused consumers whether a percentage-off deal is better than a dollar amount. Citigroup's Citi Retail Services, the private-label credit card issuer, has tested two offers this season. One gives...

Read More from: BankThink

2 days 23 hours ago
New York financier Lynn Tilton arrives for an appeal hearing at the U.S. District courthouse in New York in September  2015.
Bankruptcy could provide the best view yet of the inner workings of Lynn Tilton’s $2.5 billion distressed-debt empire, allowing investors a chance to judge for themselves the creditworthiness of an enterprise that has been charged as a fraud by the Securities and Exchange Commission. Read the Daily Bankruptcy Review story in The Wall Street Journal. (Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit, scroll to the bottom and click “try for free.”)

Read More from: Bankruptcy Beat

2 days 23 hours ago
Do you find yourself concerned because of the necessity to cope with complicated school writing pieces? provides you with life-changing remedies which help anybody gain top scores. Essay Writing Services is truly a company in United Kingdom offering top custom academic paper creation aid for a variety of your primary homework worries. The company worked closely with high school students of numerous colleges and universities across the world. The essays are actually of very high quality, genuine, sent right away, and at reasonable value. Our Writing Service Team The group of professional internet writers at are typically Specialists and College level possessors who grant everyone academic paper recommendations and are well prepared to manufacture many types of written from scratch and superior quality academic paper. Right here are the critical reviews that will advice students to acquire piece of writing on the internet now with Services presented

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3 days 2 hours ago
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3 days 3 hours ago
On November 10, 2015, Millennium Lab Holdings and 2 affiliates filed for relief under chapter 11 of the Bankruptcy Code.  The cases are jointly administered under Case Number 15-12284 and presided over by Judge Silverstein.  The first day hearing was held on November 12, 2015.  The second day hearing is scheduled for December 10, 2015 at 11:00 a.m. The majority of the information available about the Debtors comes from the Declaration of William Brock Hardaway in Support of the Debtors’ Chapter 11 Petitions and First Day Pleadings (D.I. 3) (the “Declaration”).  The other two debtors in these cases are Millennium Health, LLC and RxAnte, LLC.  The Debtors filed these chapter 11 cases as a prepack, intending to quickly shed a substantial amount of debt and continue their operations. The Debtors in this case provided testing services, and the majority of their revenues were generated through Medicare reimbursements.  Declaration at *9.  This became an issue, however, when the Department of Justice began investigating Millennium.  In February, 2015, a Medicare Administrative Contractor informed Millennium that its Medicare billing privileges would be revoked on account of alleged administrative billing abuses relating to claims allegedly submitted by Millennium for services provided, after their dates of death, to 59 Medicare beneficiaries.  Declaration at *9.
3 days 9 hours ago
The Affirmative Insurance Holdings, Inc. Section 341 meeting has been continued to December 14, 2015, at 1:00 p.m. at J. Caleb Boggs Federal Building, 844 King St., Room 2112, Wilmington, Delaware.  For a prior post on this bankruptcy proceeding, click here. Carl D. Neff is a bankruptcy attorney with the law firm of Fox Rothschild LLP.  Carl is admitted in Delaware and regularly practices before the United States Bankruptcy Court for the District of Delaware. You can reach Carl at (302) 622-4272 or at
3 days 10 hours ago
The ABA Journal has named Credit Slips to its annual Blawg 100. Thanks for the recognition! We really appreciate it. It is a list of great blogs, and we are honored to be included on it. And, thanks to our readers and commenters who help to make this little part of the Internet a great community.

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3 days 13 hours ago
Are you struggling financially from trying to protect a son, daughter, sibling or parent from drug addiction?  If so, you are not alone.  As the holidays approach, I am excited about seeing my family.  However, I am a sister and sister-in-law of recovering drug addicts and existing drug users.  The holidays can be very hard for those of us who have family members who are drug addicts.  The empty chairs are painful to see and the shell of a loved one suffering from addiction is hard to be around.  I have fallen to many traps of drug users:
  • I have received late phone calls needing money.
  • I have received phone calls from my mother crying hysterically because a family member was arrested.
  • I have had prescriptions, money and jewelry stolen from my home or from my purse during family gatherings.
  • I have had loved ones lie to my face to get money so they could feed their next fix.
  • I have had family members blame me because I don’t financial help those family members struggling with addiction.
  • I have had to miss or shorten visits with family to avoid drug users.
  • I have watched my niece and nephews lose the parents that they once knew.
  • I have visited family members in jail.
  • I have written letters to jail.

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

3 days 14 hours ago
The paperwork that people and businesses have used to file for bankruptcy protection since the 1980s is being replaced on Dec. 1 with forms that have clearer, easier-to-understand instructions and that’s…bad? Bankruptcy experts who have been working to freshen up and simplify the new forms since 2008 got an earful from critics who worried that the clearer instructions–free of legalese and a confusing format–will encourage more people to file without help from a bankruptcy lawyer. That could lead people to make big mistakes and–of course–would be bad for business, critics said during the public-comment phase of the process. “May as well hand them some dynamite,” said one commenter who predicted the forms will cause the number of people who file for bankruptcy without a lawyer—called pro se filings—to surge. “As we all know bankruptcy is not about filling in forms–it is about understanding the rules, statutes and case-law that dictate and interpret how forms are completed.” Another commenter from Iowa said the confusion will increase “demands on the courts’ time as [judges] try to sort out the financial affairs of uninformed debtors. There are good reasons to consult an attorney when filing a federal court petition. A bankruptcy petition incorrectly or untimely filed can negatively affect a debtor’s future, rather than providing the hoped-for relief.”

Read More from: Bankruptcy Beat

3 days 17 hours ago
Please see our client alert on the proxy advisory firms’ policy updates.
3 days 17 hours ago
A district court judge in the Middle District of Pennsylvania recently vacated a bankruptcy court’s decision allowing rejection of an oil and gas lease under section 365 of the Bankruptcy Code.  The District Court held that a debtor’s oil and gas lease was a conveyance of an interest in real property and not an executory contract or unexpired lease that could be rejected in bankruptcy under Section 365 of the Bankruptcy Code. Section 365(d)(2) of the Bankruptcy Code provides that a trustee or debtor in possession may, subject to the court’s approval, “reject an executory contract or unexpired lease of residential real property or of personal property of the debtor.”  In Chesapeake Appalachia, LLC v. Powell (In re Powell), 2015 BL 370462, No. 3:13-cv-00035-RDM (M.D. Pa. Nov. 10, 2015), District Court Judge Robert D. Mariani reviewed the bankruptcy court’s decision on the applicability of Section 365 to oil and gas leases.

Read More from: eSQUIRE Global Crossings

3 days 20 hours ago
Originally posted on Kentuckiana Bankruptcy Opinions: (Bankr. E.D. Ky. Nov. 18, 2015) The bankruptcy court rejects the creditor’s argument that its wholly underwater lien on the Chapter 13 debtors’ residence cannot be avoided based on § 1322(b)(2). The creditor argued that the Supreme Court’s recent decision in Bank of America, N.A. v. Caulkett mandates that result, despite the fact that prior Sixth Circuit precedent makes clear that a Chapter 13 debtor may strip off such a lien. The court holds that Caulkett does not apply and it is required to comply with the prior Sixth Circuit precedent because it has not been overruled. Opinion below. 2015-11-16 – in re travers Author: Matt Lindblom View original
3 days 21 hours ago
Originally posted on Kentuckiana Bankruptcy Opinions: (Bankr. W.D. Ky. Nov. 20, 2015) The bankruptcy court grants the defendant’s motion to dismiss the adversary proceeding because it lacks jurisdiction over the claim asserted. The debtor listed the claim in his schedules, but the trustee effectively abandoned the claim upon filing his report of no distribution. The debtor then filed the adversary proceeding. The court finds that there is no “related to” jurisdiction because the claim was abandoned, outside the estate, and owned by the debtor. Opinion below. 2015-11-20 – sturgeon v hart county finance Author: Matt Lindblom View original
3 days 21 hours ago
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3 days 22 hours ago