In 2003, Congress passed the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (the "Act").1 The Act authorized states to create health savings accounts ("HSAs") with taxpreferred treatment to encourage individuals with high-deductible health insurance plans to save for their healthcare expenses.2 Recent data suggests that the popularity of HSA accounts is growing, with one study estimating that the number of HSA accounts rose to 13.8 million in 2014, which is a twenty-nine percent (29%) increase from 2013.
Con la reforma del artículo 90.1.6.º de la Ley Concursal (LCon) dispuesta por la Ley 40/2015 se generalizó un casi entusiasta clamor entre los operadores del sector. Se consideraba que quedaba definitivamente resuelto el perverso historial con- cursal de las prendas sobre créditos futuros. Yo no lo veo tan claro y puedo imaginarme más de un modo por el que un juez concursal averso a este tipo de garantías puede arruinar aquel entusiasmo por vía de una interpretación no totalmente absurda del precepto nuevo.
The amendment to art. 90(1)(6) of the Insolvency Act 22/2003 (abbrev. LCON) by the Public Sector (Legal Regime) Act 40/2015 was welcomed almost enthusiastically by most market agents. It was felt that the inconsistent treatment bestowed on pledges of future claims (hereinafter, ‘PFC’) would finally be a thing of the past. I myself am not altogether convinced that this is the case, being able to envisage more than one way an insolvency judge, averse to this type of security interests, can dampen the aforementioned enthusiasm by way of a not overly absurd interpretation of the new provision.
As you may know by now, many of the Official Forms for use in Bankruptcy Courts were replaced with revised, reformatted and renumbered forms that went into effect on December 1, 2015. The changes were made as part of a forms modernization effort that began in 2008 to improve the official bankruptcy forms and the interface between the forms and the courts’ case opening and electronic case management technology.
Cases decided recently in Florida and Illinois call into question one legal rule that some might have thought well-settled: a first-perfected security interest in collateral beats a later-perfected lien creditor's interest in that same collateral. Seems simple enough. Except this rule might not be followed in every State.
Privilege bestowed on (syndicated) creditors instigating the insolvency proceedings against the debtor
Preamble
Equality among all creditors (the so-called par conditio creditorum) is a basic principle under Spanish insolvency rules. Only specific exceptions envisaged in the Spanish insolvency law allow for a particular creditor to take precedence over others in the recovery of its claims against the debtor.
Generally speaking, the following ranking applies to insolvency claims (excluding predeductible claims):
Análisis GA&P | Febrero 2016 1 N. de la C.: En las citas literales se ha rectificado en lo posible —sin afectar al sentido— la grafía de ciertos elementos (acentos, mayúsculas, símbolos, abreviaturas, cursivas...) para adecuarlos a las normas tipográficas utilizadas en el resto del texto. Ante las dificultades competenciales y materiales en asuntos derivados del concurso de acreedores, siempre resultan sumamente interesantes las conclusiones alcanzadas por jueces o magistrados especialistas en materia mercantil en sus diferentes reuniones periódicas.
Analysis GA&P | February 2016 1 Given the jurisdictional and material difficulties arising in the context of insolvency proceedings, the conclusions reached by judges specialised in corporate and commercial matters, in their various regular meetings, are invariably of tremendous interest. The recent conference held in Pamplona at the beginning of last November was no exception, particularly so, as far as this paper is concerned, in relation to the employment and Social Security aspects of a production unit transfer. As is well known, the referral of arts.
In Castellanos v. Midland Funding, LLC, 15-CV-559 (M.D. Fla. Jan. 4, 2016) the United States District Judge John Steele joined with several of his Middle District of Florida colleagues and held that the Bankruptcy Code preempts the FDCPA with respect to filing time-barred proofs of claim.
In Garfield v. Ocwen Loan Servicing, LLC, 15-527 (2d Cir. Jan. 4, 2016), the Second Circuit Court of Appeals examined whether a debtor who has been discharged in a bankruptcy can sue in a district court under the Fair Debt Collection Practices Act (“FDCPA”), as opposed to seeking relief in the bankruptcy court.