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Bankruptcy, Insolvency and Creditors’ Rights
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Sixth Circuit Interprets Consumer Protection Statute to Protect Non-Consumers

In 2010, the United States Supreme Court expanded the concept of "corporate personhood" when it held in Citizens United v. FEC, 558 U.S. 310, 130 S. Ct. 876, 175 L. Ed. 2d 753 (2010), that...
by Guest Blogger August 03, 2015
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“THE WORLD WILL NOT END IN FIRE, OR ICE, BUT IN A BANKRUPTCY COURT” – WELLNESS INTERNATIONAL NETWORK, LTD. v. SHARIF

In a six to three majority decision, the Supreme Court limited the impact of Stern v. Marshall, 564 U.S. 2 (2011) by holding in Wellness International Network, Ltd. v. Sharif, 575 U.S.___(2015) ( decided on...
by Stites & Harbison, PLLC May 27, 2015
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Statute of Frauds Prevents Borrower From Modifying Modification Agreement Orally

In Parker v. Kentucky Housing Corporation, the Kentucky Court of Appeals affirmed an order of sale in a foreclosure action. Mrs. Parker first defaulted on her obligations in 2001 and again in 2004. Kentucky Housing...
by Brian R. Pollock February 09, 2015
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Indiana Bankruptcy Court Sanctions Creditors For Being Bad at Math

Adding to the apparent deluge of issues surrounding the Eleventh's Circuit decision in Crawford v. LVNV Funding, LLC, the Bankruptcy Court for the Northern District of Indiana has sanctioned two creditors for not being able...
by Brian R. Pollock January 29, 2015
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I DECLARE RESCISSION!!

Justice Scalia, writing for a unanimous Court, concluded that to effect rescission under the Truth in Lending Act a debtor need only notify the creditor, in accordance with the CFPB's regulations of his intention to...
by Brian R. Pollock January 20, 2015
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It’s Not Purdy, But It’s Not A Per Se Security Agreement

In Sunshine Heifers, LLC v. Citizens First Bank (In re Purdy), 763 F.3d 513 (6th Cir. 2014), a divided Sixth Circuit reversed the bankruptcy court's finding that cattle leases were disguised security interests. Over the...
by Brian R. Pollock January 08, 2015
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ABI Chapter 11 Reform Report Part I: Ten Early-Case Changes

On December 8, the American Bankruptcy Institute's Chapter 11 Reform Commission released its report, which was the product of a three-year comprehensive study of issues and trends in Chapter 11 as well as recommendations on...
by Guest Blogger December 11, 2014
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BankBankruptcy: House Passes Financial Institution Bankruptcy Act

Yesterday, the House of Representatives passed H.R. 5421, the "Financial Institution Bankruptcy Act of 2014" or "FIBA." FIBA would amend the Bankruptcy Code (and certain sections of title 28) to create a Subchapter V to...
by Guest Blogger December 02, 2014