Illinois

The Unlimited Wedding Ring Exemption Has Some Limits, Illinois Judge Says

Opinion traces the thousand-year history of wedding and engagement rings.

Debtor Can’t Reaffirm an Auto Loan by Waiving Discharge of the Debt

Chief Judge Gorman requires strict adherence to Section 524(c) in reaffirming a debt.

Reperfecting a Mortgage Isn’t Grounds for a Fraudulent Transfer

Mistakenly cancelling a mortgage can result in a preference but not a fraudulent transfer if the cancellation is later rescinded.

Chapter 13 Debtor Held to Lack Standing to Prosecute a Claim on an Exempt Asset

Judge fails to distinguish between cases in chapter 7 and chapter 13.

Chapter 13 Debtors May Prorate Tax Refunds in Calculating Plan Payments

Chapter 13 trustees aren’t always entitled to a turnover of tax refunds.

Allowing WARN Claims in Liquidating Chapter 11s, Chicago Judge Splits with Third Circuit

Judge adheres to plain language of agency commentary as though it were a statute.

Lawyers Can Violate FDCPA by Making Factually Inaccurate Allegations in Bankruptcy Pleadings

There is no litigation privilege in the FDCPA for inaccurate allegations in bankruptcy court.

District Judge Splits with Third Circuit on Recoupment and Social Security Overpayment

Social Security benefits were properly cut off to recover overpayment.