Lawyers USA Online » Bankruptcy http://lawyersusaonline.com Your Business Partner Wed, 23 May 2012 20:49:15 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Class claims against Owens Corning weren’t discharged  http://lawyersusaonline.com/blog/2012/05/22/class-claims-against-owens-corning-werent-discharged/ http://lawyersusaonline.com/blog/2012/05/22/class-claims-against-owens-corning-werent-discharged/#comments Tue, 22 May 2012 15:37:10 +0000 Pat Murphy http://lawyersusaonline.com/?p=84490 A class claims seeking damages for alleged defects in Owens Corning roofing shingles were not discharged by the company’s Chapter 11 bankruptcy case, the 3rd Circuit has ruled in reversing a summary judgment.

The two named plaintiffs in the case both had roofing shingles manufactured by Owens Corning installed on
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]]> http://lawyersusaonline.com/blog/2012/05/22/class-claims-against-owens-corning-werent-discharged/feed/ 0 Bankruptcy filings continue downward trend  http://lawyersusaonline.com/blog/2012/05/18/bankruptcy-filings-continue-downward-trend/ http://lawyersusaonline.com/blog/2012/05/18/bankruptcy-filings-continue-downward-trend/#comments Fri, 18 May 2012 14:10:21 +0000 Kimberly Atkins http://lawyersusaonline.com/?p=84405 WASHINGTON – After years of record-breaking numbers of bankruptcy filings, the recent trend of declining filings continues, based on the most recent figures released by the Administrative Office of the U.S. Courts.

Bankruptcy filings for the 12-month period ending March 31, 2012, fell 13 percent compared to bankruptcy filings for
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]]> http://lawyersusaonline.com/blog/2012/05/18/bankruptcy-filings-continue-downward-trend/feed/ 0 Bill to temporarily extend bankruptcy judgeships passes  http://lawyersusaonline.com/blog/2012/05/16/bill-to-temporarily-extend-bankruptcy-judgeships-passes/ http://lawyersusaonline.com/blog/2012/05/16/bill-to-temporarily-extend-bankruptcy-judgeships-passes/#comments Thu, 17 May 2012 01:26:42 +0000 Kimberly Atkins http://lawyersusaonline.com/?p=84353 WASHINGTON – Congress has passed legislation that will temporarily save dozens of bankruptcy judgeships in 14 states and Puerto Rico from expiring.

The Temporary Bankruptcy Judgeships Extension Act of 2012, H.R. 4967, which is expected to be signed into law
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]]> http://lawyersusaonline.com/blog/2012/05/16/bill-to-temporarily-extend-bankruptcy-judgeships-passes/feed/ 0 Farm sale income tax not dischargeable in bankruptcy  http://lawyersusaonline.com/blog/2012/05/14/farm-sale-income-tax-not-dischargeable-in-bankruptcy/ http://lawyersusaonline.com/blog/2012/05/14/farm-sale-income-tax-not-dischargeable-in-bankruptcy/#comments Mon, 14 May 2012 17:09:36 +0000 Kimberly Atkins http://lawyersusaonline.com/?p=84286 The federal income tax liability resulting from the sale of a farm after a Chapter 12 bankruptcy filing is not “incurred by the estate” under §503(b) of the Bankruptcy Code and thus is neither collectible nor dischargeable in the bankruptcy plan,
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]]> http://lawyersusaonline.com/blog/2012/05/14/farm-sale-income-tax-not-dischargeable-in-bankruptcy/feed/ 0 Asbestos policies can be assigned in bankruptcy  http://lawyersusaonline.com/blog/2012/05/03/asbestos-policies-can-be-assigned-in-bankruptcy/ http://lawyersusaonline.com/blog/2012/05/03/asbestos-policies-can-be-assigned-in-bankruptcy/#comments Thu, 03 May 2012 16:25:25 +0000 Pat Murphy http://lawyersusaonline.com/?p=84094 Liability insurers could not enforce anti-assignment clauses in their policies when their policyholder sought relief in bankruptcy from asbestos claims, the 3rd Circuit has ruled in affirming judgment.

The debtor, Federal-Mogul Global, Inc., is one of the world’s largest manufacturers of automobile parts. In 2001, the debtor filed for Chapter
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]]> http://lawyersusaonline.com/blog/2012/05/03/asbestos-policies-can-be-assigned-in-bankruptcy/feed/ 0 Post-petition home sale proceeds included in bankruptcy estate  http://lawyersusaonline.com/blog/2012/04/27/post-petition-home-sale-proceeds-included-in-bankruptcy-estate/ http://lawyersusaonline.com/blog/2012/04/27/post-petition-home-sale-proceeds-included-in-bankruptcy-estate/#comments Fri, 27 Apr 2012 15:28:51 +0000 Reni Gertner http://lawyersusaonline.com/blog/2012/04/27/post-petition-home-sale-proceeds-included-in-bankruptcy-estate/ The proceeds from a couple’s post-petition sale of their homestead must be included in their bankruptcy estate, the 9th Circuit has ruled.

In an earlier Chapter 7 bankruptcy filing, the debtors’ principal creditor objected to their discharge, alleging that they fraudulently concealed assets, and won a judgment that increased to
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]]> http://lawyersusaonline.com/blog/2012/04/27/post-petition-home-sale-proceeds-included-in-bankruptcy-estate/feed/ 0 Non-compliant plan is exempt in bankruptcy  http://lawyersusaonline.com/blog/2012/04/27/non-compliant-plan-is-exempt-in-bankruptcy/ http://lawyersusaonline.com/blog/2012/04/27/non-compliant-plan-is-exempt-in-bankruptcy/#comments Fri, 27 Apr 2012 15:22:56 +0000 Reni Gertner http://lawyersusaonline.com/blog/2012/04/27/non-compliant-plan-is-exempt-in-bankruptcy/ A retirement plan that was not technically “tax qualified” under federal law is exempt from the taxpayer’s bankruptcy estate, the 10th Circuit has ruled in applying Utah law.

Utah law provides that a “retirement plan or arrangement that is described in §401(a)” of the Internal Revenue Code is exempt from
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]]> http://lawyersusaonline.com/blog/2012/04/27/non-compliant-plan-is-exempt-in-bankruptcy/feed/ 0 Civil rights suit barred by nondisclosure in bankruptcy  http://lawyersusaonline.com/blog/2012/04/24/civil-rights-suit-barred-by-nondisclosure-in-bankruptcy/ http://lawyersusaonline.com/blog/2012/04/24/civil-rights-suit-barred-by-nondisclosure-in-bankruptcy/#comments Tue, 24 Apr 2012 20:02:19 +0000 Pat Murphy http://lawyersusaonline.com/blog/2012/04/24/civil-rights-suit-barred-by-nondisclosure-in-bankruptcy/ A homeowner could not sue police for conducting illegal searches of his properties because he failed to disclose the lawsuit in his Chapter 7 bankruptcy case, the 1st Circuit has ruled in affirming a dismissal.

After filing for bankruptcy, police searched the plaintiff’s properties for environmental violations. The search warrants
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]]> http://lawyersusaonline.com/blog/2012/04/24/civil-rights-suit-barred-by-nondisclosure-in-bankruptcy/feed/ 0 Justices tackle credit-bidding in bankruptcy ‘cramdown’ plan  http://lawyersusaonline.com/blog/2012/04/23/justices-tackle-credit-bidding-in-bankruptcy-%e2%80%98cramdown%e2%80%99-plan/ http://lawyersusaonline.com/blog/2012/04/23/justices-tackle-credit-bidding-in-bankruptcy-%e2%80%98cramdown%e2%80%99-plan/#comments Mon, 23 Apr 2012 20:39:32 +0000 Kimberly Atkins http://lawyersusaonline.com/blog/2012/04/23/justices-tackle-credit-bidding-in-bankruptcy-%e2%80%98cramdown%e2%80%99-plan/ WASHINGTON – The justices of the U.S. Supreme Court took up a complicated bankruptcy case Monday, parsing the language of the Bankruptcy Code to determine if a Chapter 11 debtor must give a secured creditor the right to credit bid items
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]]> http://lawyersusaonline.com/blog/2012/04/23/justices-tackle-credit-bidding-in-bankruptcy-%e2%80%98cramdown%e2%80%99-plan/feed/ 0 Debtor can’t discharge award for loss of consortium  http://lawyersusaonline.com/blog/2012/04/23/debtor-can%e2%80%99t-discharge-award-for-loss-of-consortium/ http://lawyersusaonline.com/blog/2012/04/23/debtor-can%e2%80%99t-discharge-award-for-loss-of-consortium/#comments Mon, 23 Apr 2012 16:03:50 +0000 Pat Murphy http://lawyersusaonline.com/blog/2012/04/23/debtor-can%e2%80%99t-discharge-award-for-loss-of-consortium/ A Chapter 7 debtor could not obtain a bankruptcy discharge of a $300,000 award for loss of consortium stemming from the attempted murder of his ex-wife, the 7th Circuit has ruled in affirming judgment.

The debtor received life imprisonment after he beat his ex-wife with a baseball bat and stuffed
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