Is ABC’s “Shark Tank” unrealistic? While entertaining, Shark Tank can teach novice investors about the value of due diligence, among other things. While the entertainment value is unquestionable, how realistic is it as compared to the way investors and entrepreneurs typically negotiate? Read more here.

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(posted 19 hours 12 min ago)

Last week, the United States Supreme Court granted the writ of certiori in the case of Bullard v. Hyde
appeal bankruptcy order chapter 13Park Savings Bank, which involves the issue of whether an order denying confirmation of a chapter 13 plan of reorganization is a "final judgment" and therefor appealable.  
Case Below - BAP and First Circuit 

In the case below, the chapter 13 debtor appealed the bankruptcy court's order first to the First Circuit's Bankruptcy Appellate Panel (BAP) under both 28 U.S.C. § 158(a)(1) [for a "final order"] and (a)(3) [with leave of court for an interlocutory order].  The BAP agreed to hear it as an interlocutory appeal and upheld the Bankruptcy Court's order denying confirmation of the chapte 13 plan. 

Miami Bankruptcy Law Blog
(posted 1 day 4 hours ago)

Last week, the United States Supreme Court granted the writ of certiori in the case of Bullard v. Hyde
appeal bankruptcy order chapter 13Park Savings Bank, which involves the issue of whether an order denying confirmation of a chapter 13 plan of reorganization is a "final judgment" and therefor appealable.  
Case Below - BAP and First Circuit 

In the case below, the chapter 13 debtor appealed the bankruptcy court's order first to the First Circuit's Bankruptcy Appellate Panel (BAP) under both 28 U.S.C. § 158(a)(1) [for a "final order"] and (a)(3) [with leave of court for an interlocutory order].  The BAP agreed to hear it as an interlocutory appeal and upheld the Bankruptcy Court's order denying confirmation of the chapte 13 plan. 

(posted 1 day 4 hours ago)

Often Oregon debtors in a Chapter 13 bankruptcy will hit a rough spot during their case and  request a hardship discharge rather than seek conversion to Chapter 7.  Conversion and hardship discharge are not one in the same. There are specific requirements that must be met before you can even be considered for a hardship discharge. The standards for conversion are often much easier to meet.
In order to obtain a hardship discharge, your Oregon bankruptcy attorney must first file a motion requesting the hardship discharge and outlining specifically as to why you would qualify.  The first step in the analysis is whether or not your Plan has been confirmed. If it has not been confirmed by the Oregon Bankruptcy Court, you are not eligible for hardship discharge.
The Oregon Bankruptcy Court will allow a hardship discharge only if three elements are present:

Oregon Bankruptcy Lawyer
(posted 1 day 6 hours ago)

This may be the season for giving. However, the city of Chicago is looking to do some taking. What I’m talking about is an expanded effort to attack those who have outstanding parking tickets. If you have three or more outstanding parking tickets, you are subject to the boot. If you are unable to pay+ Read More
The post Are You Going To Get The Boot This Christmas? appeared first on David M. Siegel.

(posted 1 day 10 hours ago)

The Montana Supreme Court recently sent a case back to state district court for trial on allegations of wrongful levy, abuse of process, conversion and other claims.  The judgement creditor had executed on “everything that wasn’t nailed down”.  The creditor obtained a writ by providing false information to the district court.  They went to the home with movers and seized:
used and soiled clothing, dirty dishes from the kitchen sink; open boxes of perishable food; canned goods, plastic utensils, paper plates and Tupperware; the entire contents of the kitchen “junk drawer”; used toiletries, medications and eyeglasses; children’s toys, crayons and coloring books; family heirlooms including the cremated ashes of Sue Salminen’s aunt; and thousands of other articles of personal property that had no economic value and from which the judgment creditor could not realize any value.
The Supreme Court recognized that the creditor was trying to coerce the judgement debtors to pay the judgement to get their property back.  The court correctly reasoned that there is property that the law protects as “basic life necessities”.  The opinion can be found at the Montana Bankruptcy Reporter.

(posted 1 day 11 hours ago)

The New Year is right around the corner and with that comes a fresh start. The New Year is an opportunity to do things right with a clean slate. This pertains to all facets of life, including your finances. You can avoid a Union Grove bankruptcy by creating an itemized budget for the New Year. Now is the time to create your budget and not allow your finances to go into arrears.
While preparing your taxes for the past year, you have access to your income and spending information which will help you create a new budget for the New Year. Do not dely. Create your budget and commit to it. Committing to a budget is the main key to avoiding a Union Grove bankruptcy in the upcoming year. To help you with the budget creation process, we have put together three useful tips.
 

Wynn at Law, LLC
(posted 1 day 13 hours ago)

In “The Fed’s Desperate / Get Used To It” the Editorial Staff of Commercial Bankruptcy Alternatives discusses the Federal Reserve’s interest rate and bond-buying policies. Check it out here!

(posted 1 day 13 hours ago)

As a company turns in the widening gyre of financial distress, its directors and officers are often confronted with situations that require them to make difficult decisions. Should things fall apart, those decisions may give rise to claims that directors or officers breached their fiduciary duties to the company. A recent decision by the United States Bankruptcy Court for the District of Delaware serves as a comforting reminder — to directors, officers, and their counsel — that transactions are not judged in hindsight, and the business judgment rule can still offer protection when a business fails despite last-minute efforts.
Ultimate Escapes
Ultimate Escapes was a luxury destination club that provided its members with access to a portfolio of vacation residences and offered related travel services. Following the economic crisis, Ultimate Escapes began to experience financial distress as new membership sales and existing membership upgrades decreased and the value of luxury real estate declined.
Club Holdings Merger

(posted 1 day 13 hours ago)

Beauty treatment chain American Laser Skincare abruptly shut its doors last month. Now, some customers say they’re being asked to pay for treatments they never received, while others who say they paid in advance want their money back.
“How do I get my money back from the package I just bought? Why did you guys let me buy a new package for services you knew you were not going to honor. Filing bankruptcy is unfortunate, but known months, years in advance. You took my money. This is fraud,” wrote one consumer on the shuttered company’s Facebook page.
American Laser’s owner, Philadelphia private equity firm Versa Capital Management, has said it won’t respond to Facebook posts. The firm, which bought the operation from its prior bankruptcy in 2012, said it had already provided “substantial funding to aid the company with its performance.”
Chapter 7 trustee Alfred Giuliano did not respond to requests for information about the state of affairs at American Laser, which said in its bankruptcy petition it owes more than $50 million and expects no return to unsecured creditors. As trustee, Mr. Giuliano is responsible for tracking down money to pay American Laser’s creditors.

WSJ.com: Bankruptcy Beat
(posted 1 day 14 hours ago)