According to the American Bankruptcy Institute, U.S. bankruptcy filings totaled 629,570 during the first nine months of 2015 (Jan. 1-September 30), an 11 percent decrease from the 705,728 total filings during the same period a year ago, according to…
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Last week the Illinois Supreme Court held in Seymour v. Collins, that the trial court and the Illinois Court of Appeals erred when they dismissed a personal injury suit on the grounds that the plaintiff failed to disclose the cause of action in its c…
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According to the American Bankruptcy Institute, nearly 7 million Americans have gone at least a year without making a payment on their federal student loans, a high level of default that suggests that there is a widening swath of those unable or unwi…
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A cellphone user who unknowingly places a call doesn’t have a reasonable expectation of privacy in conversations exposed to the person on the other end of the line, a federal appeals court said on Tuesday. In this case, a senior executive of a…
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In Tetzlaff v. Educational Credit Management Corp., No. 14-3702 (July 22, 2015) , the Court of Appeals in Chicago held that the Wisconsin Bankruptcy Court did not err in denying a debtor’s request to discharge $260,000 in student loan debt in a…
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‘Chapter 20’ Debtors Can Strip Junior Liens, 9th Circ. Says A Ninth Circuit bankruptcy panel ruled Thursday that distressed homeowners who convert from Chapter 7 to Chapter 13 bankruptcy can strip wholly unsecured junior liens, joining a…
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On November 11, 2014, William Factor debated whether student loans should be dischargeable at the American Bankruptcy Institute’s Consumer Conference (Chicago). Taking the affirmative position, Mr. Factor argued that the law should be amended s…
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Yesterday, July 14, 2014, Illinois Attorney General Lisa Madigan filed lawsuits against two debt settlement companies, Broadsword Student Advantage LLC, and the Chicago based First American Tax Defense LLC.
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363 Case – A term that has come to describe a Chapter 11 case that is filed largely to facilitate the sale of the debtor’s assets pursuant to the protections of §363 of the Bankruptcy Code, as compared to a case filed to restructure the debtorâ€â€¦
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What Is a Single Asset Real Estate Bankruptcy Case? Under the Bankruptcy Code, a single asset real estate means real property constituting a single property or project, other than residential real pr operty with fewer than 4 residential units, which…
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