On June 4, 2014, the New York Court of Appeals will hear arguments arising from the bankruptcies of two law firms—Thelen and Coudert Brothers—as to whether the former partners of the bankrupt law firms must turn over profits earned on billable-hour client matters they brought to their new firms.

The Ninth Circuit’s Bankruptcy Appellate Panel (BAP) recently upheld the disallowance of a credit union’s claims after the credit union’s “disgruntled employee” failed to file the proofs of claim before the claims bar date. 

The case of Spokane Law Enforcement Federal Credit Union v. Barker (In re Barker) serves as a cautionary tale—reminding creditors and their attorneys of the importance of timely filing proofs of claim.  

In response to the July 2, 2012 Order of Rehabilitation, and an anticipated Order of Liquidation, against Lumbermens Mutual Casualty Company and American Manufacturers Mutual Insurance Company (collectively, “Lumbermens”),1 we have prepared the following “frequently asked questions” guide summarizing issues related to: (i) the financial regulation of insurance companies; (ii) the liquidation and proof of claim process in Illinois; (iii) potential recovery by policyholders of the amount of “covered” workers’ compensation claims from state guaranty associations; (iv) policyh

In response to an imminent Order of Liquidation against the Kemper Insurance Companies, we have prepared the following “frequently asked questions” guide summarizing issues related to: (i) the financial regulation of insurance companies; (ii) the liquidation and proof of claim process in Illinois; (iii) potential recovery by policyholders of the amount of “covered” workers’ compensation claims from state guaranty associations; (iv) policyholder collateral; and (v) planning a response to the Kemper liquidation.1

I. FINANCIAL REGULATION OF INSURANCE COMPANIES