Can a nondischargeability suit survive after a claim is deemed “satisfied in full” under a confirmed plan? The Tenth Circuit recently considered this question in Bank of Commerce & Trust Co. v.
What does Memorial Day weekend mean to you? Perhaps it means having a nice long weekend with family and friends? Or spending hours sitting in traffic with all the people who are getting away from it all for the weekend? Or maybe you are a traditionalist and will spend the weekend getting all of your white clothes out of Manhattan Mini Storage. Well, for the Weil Bankruptcy Blog, the start of Memorial Day weekend means one thing — the return of Bankruptcy Beach Reading.
“How was I supposed to know that something wasn’t right here … Show me how you want it to be. Tell me baby ‘cause I need to know now…” – Britney Spears
“An attorney’s reluctance, or that of his assistant, to work after 6:30 p.m. one evening in order to meet a court-imposed filing deadline does not constitute excusable neglect.”
– In re An
The timing of a bankruptcy petition filing is often a carefully calculated decision that a debtor makes to obtain certain protections of the Bankruptcy Code, most notably, the automatic stay, in advance of a looming event. In many cases, a debtor may be close to tripping a covenant, missing a debt payment, or a creditor may be attempting to foreclose on the debtor’s assets. The debtor must be cognizant of the timing of these events as the protections of the Bankruptcy Code only apply after the petition has been filed.
This article has been contributed to the blog by Andrea Lockhart, an Associate in the Insolvency and Restructuring Group of Osler, Hoskin & Harcourt LLP, and Mary Angela Rowe, an Articling Stu
This article has been contributed to the blog by Joshua Hurwitz and Waleed Malik.
In lengthy insolvency proceedings, interest accrued on existing claims during the “post-filing” period can represent a substantial portion of the debtor’s estate.
This article has been contributed to the blog by Patrick Riesterer and Mary Angela Rowe. Patrick Riesterer is an associate in the Insolvency and Restructuring group of Osler, Hoskin & Harcourt LLP and Mary Angela Rowe is an articling student at Osler, Hoskin & Harcourt LLP.