Two of the most devastating and overwhelming situations in life are bankruptcy and divorce. Unfortunately, many people who endure the one are also faced with the other.
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Leiden University in the Netherlands has established an impressive strength in insolvency law studies. For example, following his retirement, the eminent Bob Wessels left his massive collection of literature on the subject to a foundation, which permanently lent the collection to the school as the Bob Wessels Insolvency Law Collection. Credit Slips readers can support the efforts of Leiden researchers without parting with their libraries by simply responding to a 15-minute online questionnaire. Niek Strohmaier is a Ph.D. candidate at Leiden conducting a study on judgment and decision making within the areas of business rescue and insolvency law.
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For millennia usury (defined as any interest on a loan, not just interest above some prescribed rate) was condemned as immoral in almost every culture (and in some it still is). Even such great thinkers as Aristotle disapproved of the charging of interest, describing it as the “most unnatural” means of “getting wealth” because it “makes a gain out of money itself, and not from the natural object of it.”1 In the United States, of course, compensating a lender for making a loan seems a completely natural and expected part of finance; and usury is a term that typically now only refers to the charging of interest in excess of that permitted by applicable law. But usury, however defined and regardless of the rate at which the concept kicks in, remains a subject of state specific opprobrium. Indeed, those states that proscribe usurious rates of interest typically declare the charging of usurious interest as being contrary to a fundamental public policy of the applicable state. And the penalties for violating these proscriptions can be severe, including in certain circumstances the forfeiture of the principal advanced.
Read More from: Business Finance & Restructuring News - Weil
Two out of three confirmed Chapter 13 cases fail. Those are cases that met all the tests and got the judge’s OK.
And still they crater.
That’s a heap of people, deeply in debt, who don’t make it out of debt by using Chapter 13.
Arizona bankruptcy lawyer John Skiba has a theory about those failures:
I wouldn’t argue against any of John’s culprits: none of the things he lists help a Chapter 13 debtor.
But I have an alternate set of reasons that those trying to reorganize their debt through Chapter 13 don’t make it to the end.
Read More from: The Soap Box
This feature originally appeared in the April 20th edition of the Pittsburgh Business Times. Q: My company received notice of a significant default judgment against it. After investigating, I discovered that an employee received notice of the lawsuit in the mail but never opened it. Can we do anything? Advice: After you are served with a lawsuit you have a certain amount of time to respond (usually 20-30 days depending on your jurisdiction). If you don’t submit a written answer to the lawsuit the court can enter a default judgment. First, it is important to determine whether your company was properly served. Service by mail is only proper under certain circumstances. If you determine your company was not properly served with notice of the lawsuit, any default judgment is invalid and you should file a motion in Court to have the judgment removed. If you discover that your company was properly served, you may still be able to open the judgment. Generally speaking, a default judgment may be opened if the moving party has (1) promptly filed a petition to open the default judgment, (2) provided a reasonable excuse or explanation for failing to file a responsive pleading, and (3) pleaded a meritorious defense to the allegations contained in the complaint. Setting aside a judgment can be time-sensitive and complex – the attorneys at Bernstein-Burkley would be happy to guide you through the process.
Read More from: Bernstein-Burkley, P.C.
If you have been to a hospital for any reason recently, you may have been asked the question, “do you have a living will” by a hospital representative. Many times I have answered no without really understanding the importance of a living will. Currently, in our family, we are going through a very stressful medical roller coaster with a family member. About one month ago, this family member was rushed to the hospital by ambulance for emergency surgery. Unfortunately, due to her age, she had difficulty recovering from the surgery and had to be placed on a ventilator, eventually having a trach put in. Since one week after surgery, she has been in a state of unknown. The week after her surgery, members were able to talk to her and she could shake her head yes or no.
Read More from: Bonds & Botes, P.C.
How real is the threat to the District of Delaware and the Southern District of New York as t
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Why is there such a gap between consumer attorneys and bankruptcy judges over attorneys fees? It sometimes feels like the bench believes that every dollar a debtor’s lawyer gets is of questionable legitimacy. Yet the same judges roll their eyes, at least figuratively, at the competence and preparation of those same lawyers. Think there might […]
The post The Chasm Between Judges & Bankruptcy Attorneys Over Fees appeared first on Bankruptcy Mastery.
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The bank faces June 15 AML compliance deadline; the features that make Zelle popular with customers entice thieves.
Aggressive growth in commercial leasing and asset-based finance helped offset a planned pullback in auto lending at the Wayzata, Minn., company.
The California company, which also focuses on Asian-Americans, agreed to buy First American International.
On April 3, 2018, the New York Court of Appeals issued a closely divided opinion in Rodriguez v. City of New York, Case No. 32, holding that plaintiffs need not establish the absence of their own comparative negligence in order to be obtain partial summary judgment on the issue of defendants’ liability. Rodriguez involved a … Continue reading
The post N.Y. Court of Appeals Lowers the Bar on Summary Judgment in Personal Injury Cases appeared first on Robins Kaplan Trial Attorneys Blog.
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In some recent minor news coverage the issue of attorney-client privilege has come up. It often is surprising to non-lawyers (and non-litigators) how limited that privilege actually is in scope. Many clients tend to assume that any conversation with an attorney will be protected. However, the scope of the attorney client privilege is much more limited, and, not understanding that will result in your “privileged” communications becoming public record.
Let’s start with the general rule of attorney client privilege. Communications between an attorney and client concerning legal strategy and analysis will be protected from compelled disclosure as long as the privileged isn’t waived. This will be true so long as the communications don’t implicate the attorney in assisting an ongoing crime or fraud.
Read More from: Tough Times for Lenders
Read More from: Diane L. Drain - Phoenix Bankruptcy & Foreclosure Attorney
The regional bank's net income rose 37% thanks to those factors and others.
The Louisiana company has vowed to meaningfully improve investor returns and efficiency over the next two years.
Several banks have reported digital service outages this year, but now there’s a detailed breakdown of one of them — and it shows that the damage goes far beyond reputation.
First Personal Bank in Illinois tried — and failed — to sell itself three times. The bank finally found an eager buyer after tackling several lingering problems.
The costly order against Wells Fargo contains both unexpected good news for the bank and more potential problems for its CEO.
If President Trump doesn't name a director before the midterm elections, he could lose his best shot at reshaping the bureau long term.