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Bankruptcy, Insolvency and Creditors’ Rights
Kentucky Legislature To Consider Commercial Receivership Reform
As the Kentucky General Assembly passed the midpoint in its session, a bill was introduced to overhaul the procedures in commercial receivership (Senate Bill 149). A receiver is a person appointed by a court to...
Riding Through the Reaffirmation Agreement
While the number of ECF notices I receive may overwhelm my inbox, it is the rare occasion when I don't recognize the case number. But that happened this week when a reaffirmation agreement came across...
Five Out of Six Not Good Enough
While hitting 5 out of 6 shots may be good on the court, it is not sufficient to prevent modification of a mortgage in the Bankruptcy Court for the Eastern District of Kentucky. The Court...
Did I Forget to Turn Off the Stove? What Can Happen If You Forget to Dismiss a Settled Case
With the willingness of lenders to enter into loan modifications after filing a foreclosure action, there are a growing number of orphan cases remaining open on courts' dockets. In Kentucky, CR 77.02(2) provides for the...
U.S. Supreme Court to Consider “Valid When Made” Doctrine
Last year, the influential Second Circuit Court of Appeals handed down a troubling, and to many banking lawyers, plainly-wrong decision in Madden v. Midland Funding LLC.[i]In that case, Midland had bought a credit card...
Until Debt Do Us Part Redux
The U.S. Supreme Court recently heard oral arguments in Hawkins v. Community Bank of Raymore. The Court is considering a circuit split to determine if a spousal guarantor is an "applicant" protected by the Equal...
Sixth Circuit Allows FDCPA Claim Against Law Firm for Misleading Letter
The Sixth Circuit Court of Appeals issued a new FDCPA opinion this week affirming dismissal for failing to state a claim but remanding to allow a plaintiff to amend his complaint against a law firm...
Old King Coal, What Are We Gonna Do?
Earlier this year, I became mildly obsessed with (Kentucky's own) Sturgill Simpson. In addition to being an immensely-talented throwback musician, he appears to have predicted what many bankruptcy lawyers would be doing in 2015. The...