Husky International Electronics, Inc. v. Ritz, No. 15-145
Under the Uniform Commercial Code (UCC), a secured party can perfect its lien on certain of a debtor's assets by the filing of a UCC-1 financing statement. However, Section 9-509 of the UCC provides that a party may file such a financing statement only if the debtor authorizes the filing: either expressly in an authenticated record or, more commonly, by executing a security agreement. The UCC does not specify when a debtor must provide such authorization, but the U.S.
Section 109(a) of the Bankruptcy Code requires debtors to either reside or have a domicile, place of business, or property in the United States. A split of authority exists whether a foreign debtor seeking recognition of its foreign proceeding under chapter 15 of the Bankruptcy Code must satisfy these requirements.&nb
On November 5, the DOJ announced a proposed settlement with a bank for allegedly violating bankruptcy rules by not providing homeowners with required notices that would have allowed them to challenge the accuracy of increased mortgage rates.
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Whether an insurer can refuse to provide coverage on the grounds that the bankrupt insured has not paid a self-insured retention (SIR) is often litigated during a bankruptcy case. Recently, in Sturgill v.
All is not lost when a debtor files Chapter 13 Bankruptcy. In addition to teaching the ins and outs of how to collect money and assets in a Chapter 13, the video below discusses the basics of a Chapter 13, motions for relief from stay, co-debtor stay, non-dischargeable claims, and other topics to efficiently and effectively obtain what is rightfully yours in a bankruptcy. View the video below to learn more about Chapter 13 bankruptcy.
A GUIDE TO RESTRUCTURING ISSUES FOR NOT-FOR-PROFIT COMPANIES AND THEIR DIRECTORS 02 | A GUIDE TO RESTRUCTURING ISSUES FOR NOT-FOR-PROFIT COMPANIES AND THEIR DIRECTORS An increasing number of not-for-profit (NFP) entities, including those in the education and healthcare industries, are facing financial challenges that may require restructuring of existing debt loads.
At the most basic level, bankruptcy is all about property. Going out on a limb here, we’d say that it’s a good idea to have a sense of what is and what is not your property before filing for bankruptcy. Of course, this is easier said than done in some cases and can be subject to dispute, as demonstrated by