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Bankruptcy Law Blog
Supreme Court Finally Defines 1841 Bankruptcy Term ‘Defalcation’
Did you know that you can be prohibited from filing for bankruptcy if you’re found to have committed defalcation? It’s true — although the term had never actually been defined until now. On Monday, the U.S. Supreme Court took up [...]
Report: Payday Loans Triggered $169 Million In Chapter 13 Filings
Using public data from the Consumer Financial Protection Bureau, a recent report by the Insight Center for Community Economic Development determined that the high fees and harsh contract terms for payday loans pushed so many people into Chapter 13 bankruptcy in 2011 [...]
American-US Airways Bankruptcy Merger Approved, $20 Mln Bonus Not
American Airlines’ parent company AMR Corporation filed for Chapter 11 bankruptcy in late 2011 in the hopes of reorganizing its debts, ditching some obligations, and putting itself in a strong position for future profitability. Last year, US Airways Group, Inc., [...]
U.S. Trustees Forced To Stop Auditing Personal Bankruptcy Cases
The Great Recession, or perhaps the federal sequester, has forced the U.S. Trustee Program to indefinitely suspend the audits it is required to perform on Chapter 7 and Chapter 13 personal bankruptcy cases. The audits are required by the 2005 bankruptcy reform [...]
Can Chapter 7 Bankruptcy Court Force Anthony To Sell Life Story?
In January Casey Anthony, the woman who was charged and then acquitted of killing her 2-year-old child, filed for Chapter 7 bankruptcy. She owes some $500,000 in legal fees, along with other debts that bring her total liabilities to about $792,000. [...]
Chapter 11 Court To Determine Fate Of The Grand Canyon Skywalk
One of the most exciting parts of visiting the Grand Canyon was opened to the public only five years ago. The Grand Canyon Skywalk, which opened in 2007, is a fantastic, U-shaped walkway that allows visitors to walk directly out [...]