bankruptcy Blog Tag – Law Office of William J. Factor, Ltd.

Notable parallels between the 2008-2009 financial crisis and today's high-risk alternative lending sector

June 15th, 2019

This week, the American Bankruptcy Institute posted an article (which is reprinted below) identifying a growing trend that may impact a large sector of the economy: alternative lenders making risky loans. As many know, the 2008-2009 meltdown ensnared… Read More

Tags: bankruptcy, financial crisis, loans

FactorLaw featured in Leading Lawyers Magazine, May 2019

June 7th, 2019

An excerpt from the Leading Lawyers Magazine: “We are very much a family business, like many of the clients we are representing,” Factor says. “Providing top-notch service to our clients is the glue that holds us together. They’re getting the… Read More

Tags: bankruptcy, editorial, leading lawyers

Money inherited more than 180 days after petition date belongs to Chapter 13 bankruptcy estate

April 28th, 2019

In Moore, the bankruptcy court for the Eastern District of Tennessee joined a majority of courts and held that money inherited outside of the 180 day window set forth in § 541 was still property of the chapter 13 estate. In the Moore case, the debto… Read More

Tags: bankruptcy, Chapter 13 Bankruptcy, inheritance

Beware of Bankruptcy Petition Preparers

April 25th, 2019

Every now and then, a debtor will appear in bankruptcy court on a case that is set to be dismissed. The nervous debtor will stand at the podium, and the judge will ask the debtor why he or she has not filed certain required papers within the time pre… Read More

Tags: bankruptcy, bankruptcy code, BPP

Merchant Cash Advances are Wreaking Havoc on Small Businesses

December 27th, 2018

In an earlier post FactorLaw discussed Merchant Cash Advances, which is a form of financing that appears to be marketed to certain types of small businesses, according to an article dated November 20, 2018 published in Businessweek (the “BW Art… Read More

Tags: bankruptcy, chapter 11, Merchant Cash Advances

The Absolute Priority rule is alive and well for Chapter 11 cases

August 29th, 2018

I. Explanation of absolute priority rule Consumer debtors that do not qualify for protection under Chapter 7 or Chapter 13 of the Bankruptcy Code, are left with filing under Chapter 11, where they will come face-to-face with the absolute priority rul… Read More

Tags: bankruptcy, bankruptcy code, chapter 11

Bankruptcy Filings among Elderly Increased Exponentially over Last 25 Years

August 5th, 2018

According to an article posted today in the New York Times by Tara Segal Bernard, “[f]or a rapidly growing share of older Americans, traditional ideas about life in retirement are being upended by a dismal reality: bankruptcy.” According… Read More

Tags: bankruptcy, retirement, senior citizen

Experts predicting increased ilIiquidity and link it to the climate that led to the 2008 crisis

July 29th, 2018

According to a recent report by Morgan Stanley “market liquidity across assets is in decline” and “low liquidity were the fundamental triggers of the 2008 crisis.” Those bankruptcy practitioners that had first hand experience… Read More

Tags: 2008 crisis, bankruptcy, recession

Discharge Injunction Violation Results in $90,000 Award

June 9th, 2017

A recent case in the District Court, Romanucci & Blandin, LLC et al. v. Lempesis, affirmed a judgment by the Bankruptcy Court awarding $90,000 for an especially egregious violation of the discharge injunction, including damages for emotional dist… Read More

Categories: For Creditors, For Debtors

Tags: automatic stay, bankruptcy, Chapter 7 Bankruptcy, discharge, discharge injunction litigation

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