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Recent Hertz Delaware Bankruptcy Court Ruling Maintains Uncertainty Surrounding Repair Premium Claims – Insolvency/Bankruptcy/Restructuring

Over the past decade, there have been several court rulings on whether particular compensation bonuses should be allowed as part of a creditor’s claim in bankruptcy, such as Momentive,1 EFH,2 American Airlines,3 and Ultra Petroleum.4 While these and other decisions set out the legal standards to be applied and resolve the specific claims at issue, […]

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Bankruptcy settlement shifts to the fast lane

The Ministry of Commercial Affairs is set to propose amendments to the Insolvency and Bankruptcy Code (IBC), based on recommendations made by a parliamentary panel, during the budget session of Parliament, according to a person familiar with folder. The IBC Amendment Bill, which must first be approved by the Union Cabinet, aims to reduce the […]

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Biden catches heat for battling struggling bankrupt student borrowers

A pair of recent appeals filed by the department have drawn public backlash. The story continues under the ad In one case, the department attempted to to fight a court-approved release of $100,000 in federal student loans held by Ryan Wolfson, a 35-year-old Delaware man who had never made debt repayments. The judge found that […]

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BSA Reaches Settlement With Official Abuse Plaintiffs Committee

DOVER, Del. (AP) — Two years after seeking Chapter 11 protection amid a flood of child sex abuse lawsuits, the Boy Scouts of America has reached a tentative settlement with an official bankruptcy committee representing more of 80,000 men who say they were molested as children by scout leaders and others. The settlement announced Thursday […]

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Bankruptcy judge converts Loveland Shooting Club bankruptcy to Chapter 7, business closes – Loveland Reporter-Herald

On February 1, a U.S. bankruptcy judge converted the Front Range Gun Club’s bankruptcy case from Chapter 11 reorganization to Chapter 7 liquidation, and as a result, the gun club at 697 N. Denver Ave. Suite 128 in Loveland has closed. A notice on the company’s website says the business is “closed pursuant to a […]

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Judge approves deal to resolve Puerto Rico bankruptcy

MIAMI — Puerto Rico on Tuesday received approval from a federal judge to emerge from bankruptcy in the largest public sector debt restructuring deal in U.S. history, nearly five years after the financially troubled territory said it could not repay its creditors. Since Puerto Rico went bankrupt, its economic crisis has only been worsened by […]

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The Day – Diocese of Norwich accumulates additional $ 845,000 in legal fees in bankruptcy case

Norwich – Less than two months after a federal judge slammed the Diocese of Norwich for spending more than $ 1 million in legal and financial service fees related to its bankruptcy case, the diocese has racked up an additional $ 845,137 in fees over a recent 10 week period. The July 15 to September […]

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Possession of a Debtor’s Property After a Bankruptcy Declaration May… or May Not… Be a Stay Breach | Nelson Mullins Riley & Scarborough LLP

A person in possession of a debtor’s property while filing for bankruptcy now has more guidance from the Supreme Court as to the effect of the automatic stay. In City of Chicago, Illinois v. Fulton, 141 S. Ct. 585 (2021), delivered January 14, 2021, the Court was faced with the question of whether the City […]

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reality TV stars with money problems | Gallery

From the editors of Wonderwall.com 6:21 am PST, February 28, 2019 Just because you’re a TV star doesn’t mean you don’t have to face financial problems. To take Tori spelling, for example. The daughter of legendary TV producer Aaron Spelling may have been a Hollywood star turned reality star, but in July 2016, the state […]

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Caesars Palace: millionaire’s $ 500,000 gambling debt before bankruptcy was a fraud

Through Steve Green Monday January 10, 2011 | 10:00 a.m. Caesars Palace is suing the millionaire owner of the famous Beverly House estate in Beverly Hills, California, accusing him of fraudulently accumulating $ 500,000 in unpaid gambling debt before filing for bankruptcy. A Caesars Palace lawyer last week filed an adversary complaint in the New […]