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People tend to get a bit crazy during the Christmas season. We over do it on decorations, gifts, and a large family dinner. Don’t let the lack of self control cause you to file an East Troy bankruptcy. Instead, implement our tips below to have a fulfilling, yet thrifty Christmas.   10 Christmas Money Savings Tips to Avoid Filing an East Troy Bankruptcy 1. Although it is late to start this idea in 2014, putting aside a little money each week will help you achieve your Christmas budget goals slowly. You won’t have to spend a large sum of money in a short period of time. Some banks even offer Christmas saving programs. The new year is almost here. Why not make a Christmas savings plan? 2. Pay your bills! I can’t say this enough. Not paying bills in order to have Christmas spending money is just plain wrong. It is going to be harder for you to financially catch up afterwards and can easily cause you to end up filing an East Troy bankruptcy. Pay bills first and what is left, is left. 3. Thin out your Christmas list. If you have a large list of names to buy for, then it is time to slim that list down. Only buy gifts for those especially close to you. Mail Christmas cards to co-workers, friends, distant family members, etc. The sentiment in a card is just as nice as a gift.

Read More from: Wynn at Law, LLC

3 years 6 months ago
RR Donnelley's survey from last year on how investors view proxy statements continues to be worth considering now, as companies begin preparing their public disclosure documents for the 2015 proxy season. The survey results show that a mix of presentation and substantive issues are compelling for investors, and boil down to five key points.  
3 years 6 months ago
I had the pleasure of attending the Nebraska Association of Trial Attorneys seminar held at the Nebraska College of Law a week ago, and it got me thinking about how much trial attorneys need to understand about the bankruptcy process.  In a nutshell, here are seven things every trial attorney should understand about bankruptcy. 1. Injury Claims Must Be Listed as Asset on Bankruptcy Schedules.   A debtor must list all his or her property in the bankruptcy schedules.  The bankruptcy estate includes every interest of the debtor including causes of action owned by the debtor.  This is especially critical in Chapter 7 cases where all of the property of the debtor is temporarily vested in the Chapter 7 Trustee until the Trustee reviews the asset schedules and interviews the debtor.  If the injury claim is not listed as an asset, the claim remains in the possession of the bankruptcy trustee, and that means the debtor does not have standing to proceed with the injury claim after the bankruptcy case is completed.  Armed with that information, counsel for the defense may seek a motion to dismiss the injury claim if it was not listed in the bankruptcy schedules since the debtor lacks standing and such a dismissal, of course, may then cause the unpleasant topic of an expired statute of limitations on the injury claim to arise.
3 years 6 months ago
I had the pleasure of attending the Nebraska Association of Trial Attorneys seminar held at the Nebraska College of Law a week ago, and it got me thinking about how much trial attorneys need to understand about the bankruptcy process.  In a nutshell, here are seven things every trial attorney should understand about bankruptcy. 1. Injury Claims Must Be Listed as Asset on Bankruptcy Schedules.   A debtor must list all his or her property in the bankruptcy schedules.  The bankruptcy estate includes every interest of the debtor including causes of action owned by the debtor.  This is especially critical in Chapter 7 cases where all of the property of the debtor is temporarily vested in the Chapter 7 Trustee until the Trustee reviews the asset schedules and interviews the debtor.  If the injury claim is not listed as an asset, the claim remains in the possession of the bankruptcy trustee, and that means the debtor does not have standing to proceed with the injury claim after the bankruptcy case is completed.  Armed with that information, counsel for the defense may seek a motion to dismiss the injury claim if it was not listed in the bankruptcy schedules since the debtor lacks standing and such a dismissal, of course, may then cause the unpleasant topic of an expired statute of limitations on the injury claim to arise.
3 years 6 months ago
Most of the time, people who are going through bankruptcy are completely focused on the financial toll that having no money can take. While bankruptcy is a mostly financial issue, people often forget that filing bankruptcy, or even having major money problems can also have a huge impact on the lives of everyone around you. […]
3 years 6 months ago
A proposal to tighten membership requirements for Federal Home Loan Banks could hamper community lenders' ability to assist in affordable housing and community development programs.

Read More from: BankThink

3 years 6 months ago
The Ninth Circuit Court of Appeals recently rendered its decision in the Mwangi case, dealing whether a debtor can assert a claim against his bank for placing an administrative freeze on his bank account pending a determination of the debtor’s exemption claim as to the funds in the account. Eric Mwangi and his wife filed a chapter 7 bankruptcy petition.  They had several bank accounts at Wells Fargo Bank.  Following the bankruptcy filing, Wells Fargo placed an administrative freeze against the accounts and requested the trustee advise the bank on how he wanted the bank to pay the funds.  The bank informed the trustee that it would maintain the hold on the accounts until it received instructions from him, or until 31 days following the section 341 meeting of creditors.  After the bank’s action, the debtors amended their Schedule C to assert an exemption in the accounts.  Promptly after filing their amended Schedule C, the debtors requested that Wells Fargo lift the hold on their accounts so the debtors could access the funds, contending that their claiming of the exemption removed the accounts from the bankruptcy estate.  The bank refused, and the debtors filed a motion for sanctions against the bank.  After an adverse ruling against them on remand, the debtors filed an adversary class action against the bank, alleging violations of the automatic stay.

Read More from: Creditors' Rights

3 years 6 months ago
The Weil Bankruptcy Blog is on its holiday break until 2015, but in the meantime, we leave you with our retrospective on 2014, and our look ahead to the world of restructuring in 2015. 2014 has been a tumultuous year, filled with tragedy and interstellar triumphs: Ebola; Sochi; Ukraine; Flight 370; ISIS; Flight 17; Comet 67P. Life in the corporate bankruptcy and restructuring world was considerably more sedate than in the world at large. Now five and six years removed, some of the mega cases of the 2008 and 2009 era linger on and continue to generate interesting legal developments. Despite the relative paucity of mega cases, 2014 was not a year to forget. With every passing month, new and interesting special situations arose. In case you missed them, here’s a look back at the bankruptcy and restructuring highlights of 2014, as well as a look ahead to what 2015 might have in store. January: Credit Bidding
3 years 6 months ago
Some community banks have entered into the booming energy market without taking the necessary precautions, making them vulnerable to a downturn in oil prices.

Read More from: BankThink

3 years 6 months ago
Receiving Wide Coverage ... 'Eternal' Lobbying: Banks got a big win on Thursday when the Fed agreed to delay a part of the Volcker Rule. And former Fed Chair Paul Volcker was none too pleased. In a statement distributed on Friday, Volcker criticized banks for their "eternal" lobbying to avoid having to comply with the rule. "It is striking, that the world's leading investment bankers, noted for their cleverness and agility in advising clients on how...

Read More from: BankThink

3 years 6 months ago
In an 18 page opinion released December 18, 2014 in the Conex Holdings bankruptcy (Bank. D. Del. 11-10501), Judge Sontchi of the Delaware Bankruptcy Court analyzed the “ordinary course of dealings” defense to a preference action between the Debtors and Industrial Specialists Inc, the preference defendant (“Defendant”), in granting summary judgment in favor of the Defendant.  Judge Sontchi’s opinion is available here (the “Opinion”). Background
3 years 6 months ago
Some of the recent decisions on Texas homesteads coming out of the courts have people wondering just what John Wayne fought and died for at the Alamo.   The sanctity of the homestead along with the prohibition against garnishment of wages are two of the pillars upon which this State was founded.  While the news for Texas debtors has generally been depressing, Texas Bankruptcy Judge Tony Davis rejected a creative argument from an aggressive trustee in the case of In re Parsons, No. 12-12649 (Bankr. W.D. Tex.
3 years 6 months ago
From December 17-19, 2014, THQ Inc. filed approximately 78 preference complaints seeking to avoid and recover alleged preferential transfers pursuant to Sections 547 and 550 of the Bankruptcy Code, and to disallow claims of the defendants pursuant to Section 502(d). By way of background, THQ Inc. (the “Debtor”) filed a petition for bankruptcy in the U.S.Bankruptcy Court for the District of Delaware on December 19, 2012 under Chapter 11 of the Bankruptcy Code.  On July 16, 2013, the Debtor filed its Second Amended Chapter 11 Plan of Liquidation of THQ Inc. and its Affiliated Debtors, which was approved by the Court on July 17, 2013, and went effective on August 2, 2013. Rosner Law Group and Andrews Kurth LLP represent the Debtor in these various preference cases.  The pretrial conference has not been scheduled.  These adversary actions, as well as the Debtors’ bankruptcy proceeding, are before the Honorable Mary Walrath. For reader’s looking for more information concerning claims and defenses in preference litigation, attached is a reference guide prepared on the subject: “A Preference Reference: Common Issues that Arise in Delaware Preference Litigation.” In addition, below are several articles on this topic:
3 years 6 months ago
A.    Where We Left Off As noted in Part I, movants seeking approval of a structured motion to dismiss must generally prove that: (1) the court has the power to enter an order approving a structured dismissal; (2) “cause” exists to approve the structured dismissal; and (3) the structured dismissal is in the best interest of the debtor’s creditors. Part I addressed courts’ authority to enter orders approving structured dismissals under section 105(a) of the Bankruptcy Code. This section will address how movants can prove that “cause” exists to dismiss a bankruptcy case. B.    How it Works The term “cause” is not defined in the Bankruptcy Code. Even so, section 1112 of the Bankruptcy Code provides a non-exhaustive list of examples of “cause” for conversion or dismissal. Among those examples of cause for dismissal are the debtor’s gross mismanagement of the bankruptcy estate, unauthorized use of cash collateral, and failure to comply with court orders. In the context of structured dismissals, however, movants more often set forth one of the two following grounds for cause to dismiss a case: (1) there is a substantial or continuing loss to or diminution of the estate and the absence of a reasonable likelihood of rehabilitation; and/or (2) the debtor has no possibility of proposing a feasible plan of reorganization.

Read More from: Insolvency Insights

3 years 6 months ago
In Episode 15 of Accredited Investor Markets Radio, host Alicia Purdy, Managing Editor of AccreditedInvestorMarkets.com, chats with Jilliene Helman, CEO of Realty Mogul. Their discussion covers real estate crowdfunding; accessing equity and debt through non-traditional channels; the top three things investors should know before moving ahead with a real estate crowdfunding transaction; and what’s trending right now in the market.   You can find more here:   Twitter: @Realty_Mogul  LinkedIn     About Jilliene Helman   Jilliene is the CEO and Founder of Realty Mogul. She is responsible for strategic direction, operations and sits on Realty Mogul’s Board of Directors and Investment Committee. Jilliene has underwritten over $5 billion of real estate and was previously a Vice President at Union Bank, where she spent time in Wealth Management, Finance and Risk Management. Jilliene is a Certified Wealth Strategist®, holds Series 7 and Series 63 licenses and has a degree in Business from Georgetown University.​ Check out this episode!
3 years 6 months ago
In a Breaking News Alert  at CommercialBankruptcyInvestor.com, Chapter11Dockets.com discusses the creation of an ad hoc committee of creditors in Aereo, Inc.’s chapter 11 case. Find out the constituents here!
3 years 6 months ago
A recap of the informed opinions (and the discussions they generated) on BankThink this week.

Read More from: BankThink

3 years 6 months ago
In a Radio Shack Bankruptcy Watch at CommercialBankruptcyInvestor.com, the Editorial Staff discusses the latest developments on Radio Shack’s financial difficulties, and the players that surround the company. Read more about it here!
3 years 6 months ago
In a Breaking News Alert  at CommercialBankruptcyInvestor.com, Chapter11Dockets.com notes that Deb Stores filed a motion seeking to approve certain lease and contract rejection procedures. Learn more about the requested rejection procedures!
3 years 6 months ago
In a Breaking News Alert  at CommercialBankruptcyInvestor.com, Chapter11Dockets.com discusses Optim Energy amends (again) its DIP financing deadlines or milestones. Read more about it here!
3 years 6 months ago