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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

9 hours 58 min 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

10 hours 31 min 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

Read More from: Young, Klein & Associates

12 hours 44 min ago
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Read More from: Young, Klein & Associates

13 hours 51 min 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.
20 hours 12 min 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
20 hours 41 min 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.

Read More from: Credit Slips

23 hours 39 min 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.

1 day 36 min 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

1 day 3 hours ago
Please see our client alert on the proxy advisory firms’ policy updates.
1 day 4 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

1 day 6 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
1 day 8 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
1 day 8 hours ago
“Atlanta Connections” 404.386.4969
  •  Int’l/Government Relations – headed numerous int’l Turner team for satellite delivered services
  • IP – licensing and syndication, news source agreements
  • Admitted in GA and NY
  • Other – joined CM mainly as rainmaker rather than as WA; advises Womenetics, a multi-platform media
The post Valerie Hartman appeared first on Culhane Meadows PLLC - Chapter 11 Business Bankruptcy Attorneys.

Read More from: Richard G. Grant, P.C.

1 day 9 hours ago
“Ins/Regulatory/Privacy” 404.220.7863
  • Insurance –Ins. reg & transactions, life settlements Regulatory:  FI regulation &transactions generally, payments & cards, healthcare
  • Privacy – HIPAA, US & int’l data privacy/security brch Admitted in GA, IL
  • Other: In-house experience at large bank
The post Larry Davie appeared first on Culhane Meadows PLLC - Chapter 11 Business Bankruptcy Attorneys.

Read More from: Richard G. Grant, P.C.

1 day 9 hours ago
“Transactional/Organizer” 678.592.8116
  • Corporate – formation, governance, investor agreements, m&a, LLC operating agreements, private securities
  • Technology – licensing and technology transfer
  • Transactional – contracts of all varieties
  • Admitted in GA
  • Other:  former GC, go-to person for “how to” advice
The post Barry Burt appeared first on Culhane Meadows PLLC - Chapter 11 Business Bankruptcy Attorneys.

Read More from: Richard G. Grant, P.C.

1 day 9 hours ago
When the debt collector threatens to sue is when most people start getting scared. Scared about losing part of their wages, or their bank accounts.  Scared about being served with process at work. The threat of a lawsuit often triggers the first call to my law office. Some collector has said he will take 25% of your wages, or will serve a lawsuit, or even will send the account to collection, and the hearer panics. Can I file bankruptcy today? the caller asks. Lawsuits don’t happen overnight Remember the idea of due process from high school civics? Due process assures that the threatened collection suit is not happening immediately.  The threat is weeks, if not months, away. Due process, at its simplest form in a collection suit, means that you get legal notice and a right to contest the claim of any creditor before they take your property. So, the only way the average unsecured creditor can take your wages or your assets is to file a lawsuit, serve it on you (there’s your notice) and provide an opportunity for you to resist the suit by filing an answer. In short, you will see this kind of creditor coming long before they have a legal right to take anything from you. The scary creditors operate by different rules
1 day 9 hours ago
Lynn Tilton speaks with her attorneys after a hearing at the U.S. District courthouse in New York in May 2015.
Distressed investor Lynn Tilton’s Patriarch Partners has filed an involuntary bankruptcy petition against an investment fund in connection to a fight with bond insurer MBIA Inc. Read the Daily Bankruptcy Review article via 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.”) Mediation is expected to begin Monday in an effort to resolve disputes that have blocked multimillion-dollar settlements related to MF Global’s collapse from taking effect, DBR reports via WSJ.

Read More from: Bankruptcy Beat

1 day 9 hours ago
“Patents and Litigation” 404.806.1488
  • Patent – patent prosecution in various mechanical applications (medical devices in particular) as well as software and business methods
  • Litigation – patent and other IP litigation
  • Admitted in GA, PTO
  • Other:  mechanical engineer
The post Scott Anderson appeared first on Culhane Meadows PLLC - Chapter 11 Business Bankruptcy Attorneys.

Read More from: Richard G. Grant, P.C.

1 day 9 hours ago