Receiving Wide Coverage ...

High Cost of College: Student loans and their myriad associated problems are examined by the Wall Street Journal, New York Times and Washington Post. Some lawmakers want to rein in new programs that forgive student loan debt after a set period of time, as they're becoming far too popular and thus too expensive, the Journal reports.The debt-forgiveness plans have a worthy goal, the WSJ article says: no one should have to "[pay]...

BankThink
(posted 1 day 13 hours ago)

Nortel Networks is preparing to spend more than $1 million on technology for an upcoming court fight over $7.3 billion raised in its global liquidation, a trial that will be broadcast live—but not to the public.
Only “authorized users” will be able to view the Webcast of the fight for the failed telecommunication company’s billions, according to an outline of the trial technology plan filed with the courts overseeing Nortel’s dissolution.
Nortel’s “authorized users” are the legal and professional firms that have tapped the bankrupt and defunct company’s coffers for more than $1 billion in fees, and who will be able to log in from the comfort of their homes and offices to view the courtroom action.  The point, says Nortel, is to “limit the need for all counsel to be in the courtroom at all times.”
Meanwhile, members of the public, including thousands of Nortel retirees and disabled workers who lost benefits and pay in the company’s collapse, will be barred from the webcast. If they want to know what’s going on, they must travel to Toronto or Wilmington, Del., at their own expense. Nortel’s planning for a courtroom packed with lawyers, not distressed retirees, according to the plan filed with the court. So any Nortel retirees or disabled who make the trek to Delaware or Toronto will likely be relegated to a “gallery” courtroom where they can gaze at the courtroom action on monitors.

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

In re Davenport Beverage Corp., 505 B.R. 374 (Bankr. D. Mass. 2014) – A commercial landlord asked the bankruptcy court to allow its administrative expense claim in a chapter 11 case. The lease was deemed rejected while the bankruptcy case was … Continue reading →

(posted 1 day 16 hours ago)

En el pasado, yo escribe ocho cosas que  tiene que hacer si estás en un accidente de vehículo de motor.
Aquí hay cuatro cosas más que  recomiendo: 
1. Siga las instrucciones del médico ordena-si el médico recomienda cierto tratamiento, 
como la terapia física, es importante que usted vaya a todas sus citas. El doctor 
sabe lo que necesitas hacer para recuperar con éxito. Y, la compañía de seguros afirmarán que si 
no  sigues el plan de tratamiento del doctor no debe haber sido herido
2. Al lugar del accidente, obtenga toda la información que usted necesita para protegerse. 
He creado un folleto con las preguntas que usted necesita hacer.  Por favor vaya a esta pagina
para descargar esta forma o ve debajo a fin de esta entrada:    
http://www.scholnicklaw.com/site/wp-content/uploads/2014/04/Drivers-Report-Brochure-2.pdf

Scholnick Law
(posted 2 days 2 hours ago)

Depending on the budget, you might have to pay back 100% to your unsecured creditors in a chapter 13 bankruptcy case. The trustee appointed for your case is going to interview you at a 341 meeting of creditors. One of the main purposes of this meeting is to determine whether or not you are putting+ Read MoreThe post Chapter 13 May Pay Back At 100% appeared first on David M. Siegel.

(posted 2 days 6 hours ago)

5175015713_3641d60dde_zIt’s easy to tell ourselves that getting into debt was stupid.
Maybe, maybe not.
Lots of debt happens without making bad decisions.  Think of medical bills.  Natural disasters.  Divorce.
But regardless of how you got in debt, there’s more bad news.
Just being in debt makes you stupid.
Stupid, as in, your IQ goes down under the stress of being in debt.
Stupid, as in, you are likely to make poor choices about issues in addition to money.
Stress suppresses intelligence
Researchers at Harvard, Princeton and the University of Warwick found that financial worries impeded not just thinking about money issues, but also spatial and cognitive tests.
People worrying about having enough money to pay their bills tend to lose temporarily the equivalent of 13 IQ points, scientists found when they gave intelligence tests to shoppers at a New Jersey mall and farmers in India.

(posted 2 days 6 hours ago)

Fannie and Freddie are huge in size, huge in global systemic risk, close to zero in capital, and of fully demonstrated "too big to fail" status. What is stopping the Financial Stability Oversight Council from designating them as systemically important?

BankThink
(posted 2 days 8 hours ago)

Among equitable doctrines, the doctrine of equitable mootness — which essentially allows courts to dismiss appeals from bankruptcy confirmation or sale orders where, as a result of the plan going effective or the sale closing, granting the relief requested in the appeal would be inequitable — is well known.  Indeed, in the Second Circuit, it is arguably among the most significant legal rules that provide certainty to parties to a corporate transaction in a bankruptcy case.  The doctrine’s emphasis on the importance of finality to the successful operation of our federal bankruptcy system can be viewed as a pragmatic solution by the appellate courts to the otherwise uncertain, litigious, and time-sensitive nature of a bankruptcy case.
A perhaps lesser known — but equally powerful — equitable doctrine in the context of bankruptcy appeals is that of judicial estoppel.  Judicial estoppel prevents a party from contradicting previous declarations made, or actions taken, during the same or a later proceeding if the change in position would adversely affect the proceeding or constitute a fraud on the court.  The Supreme Court of the United States has explained that, while the “circumstances under which it can be invoked are likely not reducible to any general formulation or principle,” there are several factors that inform the decision whether to apply the doctrine in a particular case:

(posted 2 days 11 hours ago)

Govern Google, regulate nationally, build on that baseline, evidence externalities and reduce demand in order to transform payday from a great divider into a great unifier.

BankThink
(posted 2 days 11 hours ago)

A few months ago, a ruling in the Chapter 11 case of Fisker Automotive narrowed a secured creditor’s right to credit bid its debt in connection with a sale of the debtor’s assets.  The decision surprised many observers and resurrected uncertainty about a debtor’s ability to limit a secured lender’s credit bidding rights (a dispute that appeared to have been firmly resolved in favor of secured creditors only two years ago by the Supreme Court’s decision in RadLax Gateway Hotel).  Fisker Automotive put the issue of credit bidding back on the table, particularly in so-called “loan to own” situations where secured debt is purchased at a substantial discount for the purpose of effecting the acquisition of a distressed borrower.  An opinion issued last week in the Chapter 11 case of Free Lance-Star Publishing Co. is certain to further the uncertainty.  

Bankruptcy Law Insights
(posted 2 days 12 hours ago)