I. Introduction
Federal Rule of Bankruptcy Rule 3002.1 went into effect December 1, 2011. It was implemented to address a perceived problem in “cure and maintain” Chapter 13 cases (cases in which the debtor cures any pre-petition arrearage and maintains monthly post-petition payments on long-term loans) – that mortgage creditors were not providing the debtor with notice of post-petition payment changes and fees assessed post-petition, causing debtors to often exit a successful Chapter 13 with a delinquent loan.
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Following are this week’s summaries of the Court of Appeal for Ontario for the week of December 27, 2021. There were only two substantive civil decisions released this week.
Contents
Section 105 of the U.S. Bankruptcy Code, titled “Power of Court,” is often cited and used as a “catch-all” provision when requesting certain relief or when a bankruptcy court enters an order granting (or denying) certain relief not prescribed by a particular provision of the Bankruptcy Code. That section provides that a “court may issue any order, process, or judgment that is necessary or appropriate to carry out the provisions of this title . . .
ЗМІСТ
Наприкінці 2019 року набув чинності Кодекс України з процедур банкрутства («Кодекс»), який встановив обов’язок керівника юридичної особи ініціювати перед засновниками (учасниками) питання щодо загрози неплатоспроможності підприємства, а за результатами розгляду (за необхідності) звернутися до господарського суду з заявою про відкриття провадження у справі про банкрутство протягом місяця з моменту виникнення загрози неплатоспроможності.
Article 9 of the Uniform Commercial Code, adopted in all fifty states plus the District of Columbia with relatively few variations, sets out, among other things, the rules to be followed when obtaining a security interest in personal property collateral to secure a loan. The basic premise of Article 9 is that if the lender follows the rules, it should be protected against third parties, including other creditors or a bankruptcy trustee, who would seek to challenge the lender’s security interest or the priority of the security interest.
The Bankruptcy Protector
The Bankruptcy Protector
Most bankruptcy practitioners are familiar with the intentionally broad scope of discovery under Bankruptcy Rule 2004. However, there are limits to this discovery and the “pending proceeding” rule can be a useful tool to limit the scope of discovery in the appropriate circumstances.
Bankruptcy Rule 2004