Expert Bankruptcy & Debt Relief Insights

Make it Easier to Navigate. The number of bankruptcy cases in the last few years has risen substantially, which has led many people to consider bankruptcy as a method of taking control of debts. While the COVID-19 pandemic impacted countless workers, hotel owners and workers have been some of the most negatively impacted. This is…

One fundamental aspect of bankruptcy law is that debtors can receive new starts on establishing good credit after emerging from the bankruptcy process. A company’s capacity to discharge liabilities is one of the primary motivators for pursuing protection under Chapter 11 bankruptcy. Consequently, it should come as no surprise that ensuring necessary steps are taken…

Potential Changes How Student Loan Debt is Handled Advocates are currently urging the United States Supreme Court to provide clarification about what debtors must establish to eliminate student loan debt in bankruptcy. Erasing student loan debt through bankruptcy is almost always difficult to do. Bankruptcy courts require a high standard of “undue hardship” to be…

In April, a bankruptcy court entered a judgment in favor of a national bank, determining that the plaintiff had failed to establish that he had experienced an injury involving economic or emotional distress damages due to the lender’s violations. During Chapter 13 bankruptcy proceedings, the plaintiff initiated legal action against the bank and a loan…

Many reorganizations plan involve the release of non-debtor liability, but there are varied opinions about the role of these releases. While releases of non-debtor liability are attractive to parties like directors and officers, others argue that releasing non-debtor is against the intent of the Bankruptcy Code.  Due to these conflicting perspectives, a current split exists…

Since the start of the coronavirus pandemic, a large number of commercial tenants have to contend with the challenge of whether local or state regulations permitted their organization to remain open. Unfortunately, this means that many companies have been unable to generate revenue for the past year.  Given the financial hardships faced by many people…

How In Re Shin Could Influence Which Bankruptcy Taxes are Dischargeable In a recent bankruptcy case (In Re Shin), a court questioned whether the recapture obligation of the first-time homebuyer credit constitutes a “tax” that can be applied to the non-discharge provision of the bankruptcy code. This credit refers to a tax credit established by…

In December 2020, a Delaware bankruptcy court held that the term “financial participant” as used in the safe harbor provisions of Section 546(e) of the Bankruptcy Code does not unequivocally exclude debtors. The Delaware court’s ruling is notable because it marks a split from a 2019 Southern District of New York court ruling. The Issue…

The Supreme Court of the United States recently examined whether a creditor is required to turn over property of a bankruptcy estate to a debtor or trustee under the Bankruptcy Code’s automatic stay provision if the creditor lawfully possessed the property before bankruptcy was initiated and only passively possessed the property afterward. In this case,…

Both Senator Warren and Congressman Nader recently introduced the Consumer Bankruptcy Reform Act, which has been received as the biggest alteration of the United States Bankruptcy Code since the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. While the chance of the Act becoming law is low, the Act represents an interesting suggestion of…