The Association of Insolvency & Restructuring Advisors published its 1st Quarter 2017 Journal last Friday. Richard Gaudet, of HDH Advisors, LLC, and I wrote the article titled “Till Realized: Calculating Objective Chapter 11 Cramdown Rates without Expert Testimony.” The focus of the article is on the application of the U.S. Supreme Court case of Till v. SCS Credit Corp. (2004) to Chapter 11 debtors who can’t afford to hire an interest rate expert. Specifically, is it possible for a debtor to establish a Till-compliant cramdown interest rate objectively and economically, all without the necessity of engaging an expert witness? We think so.
To read the article, click on the image or link below.
Read More from: Plan Proponent
Want free groceries? If so, on April 5th Winn Dixie is replacing its Fuel Perks program with Winn-Dixie Reward + Plenti. Customers will be able to earn points buying groceries at Winn-Dixie or spending money at any Plenti reward partner. You can earn points by:
The Plenti reward program was launched by American Express. For every 1,000 points your earn you receive $10 or more. There are two ways to earn points: 1) shopping at participating partners and 2) activating participating offers in advance on the Plenti rewards website.
Read More from: Bonds & Botes, P.C.
The ground has shifted under California real property law.
The change looms as large as a quake along the San Andreas fault that runs through our neighborhood.
The words on a real property deed no longer mean exactly what they say when the property owners are married to each other.
The newly decided Bruce case holds that the presumption that property acquired during marriage is community property trumps the form of title expressed in the deed.
Read More from: Northern California Bankruptcy Lawyer
But if you’ve recently filed a Chapter 7 bankruptcy, hold your celebration.
That refund may not be yours.
When you file bankruptcy, all of your assets become a “bankruptcy estate”. The estate includes your real estate; tangible things like cars and household goods; bank accounts; and legal rights.
Those legal rights might include the right to file a lawsuit; your share of a class action suit; an interest in the estate of someone who has died; or your right to get back money you overpaid in taxes.
Read More from: Northern California Bankruptcy Lawyer
It’s a jarring, but true statistic that millions of Americans have trouble paying their mortgage. Sometimes it’s because a family will simply live paycheck-to-paycheck, other times it’s because unforeseen situations could even have them facing foreclosure. Owners in this situation may also consider a short sale.
A short sale is the process of selling a home for less than the amount owed to the creditor, usually when the value of the home has dropped. In this way, a homeowner can seek approval from the creditor to sell the house at a lower value and in most cases the mortgage would be considered paid in full.
In general, it’s easier than executing a foreclosure for the bank and there’s more control in how the short sale would affect your finances. Let’s take a look at some of the pros and cons of a short sale:
Alternative to Foreclosure
Read More from: The Law Office of Joel R. Spivack
In December, an Irvine-based bankruptcy attorney was disbarred after being convicted of conspiracy to commit bankruptcy fraud. The disbarment makes it clear that actual or attempted bankruptcy fraud can result in dire consequences – but you don’t have to be a lawyer to receive harsh penalties. If the trustee suspects that a filer has committed or tried to commit bankruptcy fraud in a Chapter 7 or Chapter 13 case in California, not only can there be negative ramifications for the bankruptcy, but the filer can even be criminally prosecuted. Our Roseville Chapter 7 lawyers explain what bankruptcy fraud is, and examine some of the consequences that can result from committing bankruptcy fraud.
Read More from: St. Petersburg Bankruptcy Law Blog
The tech giant said it is enabling third-party developers to create financial services apps in the cloud.
Canadian banks are hoping to create an environment where consumers have more control as to who is able to view their credentials.
Chan v. Fresh & Easy, LLC (In Fresh & Easy, LLC), No. 15-51897 (BLS), 2016 WL 5922292 (Bankr. D. Del. Oct. 11, 2016)
In this motion to compel arbitration Opinion, the Bankruptcy Court for the District of Delaware ruled on two issues of first impression in Delaware: (i) whether a class action waiver provision in an arbitration agreement violates the National Labor Relations Act (the “NLRA”); and if so, (ii) whether the agreement remains enforceable if it allows an employee to opt-out. The Court found that the class action waiver was unenforceable because it violated the NLRA. The Court then held that the opt-out provision in the agreement did not save the class action waiver. Read More ›
Read More from: Delaware Bankruptcy Insider
If you are considering filing bankruptcy you may want to talk with a bankruptcy attorney sooner than later.
The federal budget being proposed calls for an increase in bankruptcy filing fees. The amount or which types of bankruptcies are affected is uncertain.
For the full story just out, click the link below.
Read More from: John Rogers, Attorney at Law
Thanks a tweet to the sharp-eyed Drew Dawson at the University of Miami, I saw this article in Politico that among the surprises in Trump's budget is an increase in bankruptcy filing fees (see item 5). Well, this seemed important to those of us in the bankruptcy world so I thought I would check it out. It proved surprisingly more difficult in this day and age than one would think to get a PDF copy of the Trump budget outline, but I finally found one. I am not sure the characterization of an increase in "bankruptcy filing fees" is entirely accurate.
Read More from: Credit Slips
Banks eagerly raised their prime rates after the Federal Reserve’s latest rate hike, but the debate about how they should react on the deposit side is robust, and conversations are beginning on how to respond on the investment portion of the balance sheet. Here is a sample of the lively discussion that is emerging.
Bay Street's highest-paid female banker set a new benchmark for women executives in the banking industry — though their ranks among the top wage earners remain thin.
Rep. Maxine Waters, D-Calif., asked Wells Fargo executives on Friday to submit to new interviews concerning its fake-accounts scandal.
Banks like TD and U.S. Bancorp are suddenly taking public shots from current and former employees critical of their sales practices, a sign that the industry has not put behind it the questions raised months ago by the phony-accounts scandal at Wells.
A district court judge on Friday dealt a blow to the Consumer Financial Protection Bureau by saying the agency failed to present enough facts in its case against Intercept Corp.
Read More from: A Texas Bankruptcy Lawyer's Blog
Goldman CEO tells the bank's shareholders he's proud of his employees' service record; former Wells CEO realizes $83 million in well-timed exercise of stock options.
American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.
The Fed said it will conduct extensive reviews only of deals that create banks with assets of $100 billion, replacing the prior mark of $25 billion. The disclosure was included in the Fed's approval of People's United's purchase of Suffolk Bancorp.