by Devin Sawdayi | Feb 17, 2014
When a retail business closes or files for bankruptcy, what becomes of the unused gift cards and gift certificates that it has issued to consumers? The question has unfortunately become common for both businesses and consumers. A similar question can apply to...
by Devin Sawdayi | Jan 27, 2014
A federal district court affirmed a bankruptcy judge’s order converting a Chapter 13 bankruptcy to a Chapter 7 based on a finding of bad faith on the part of the debtor. In re Killian, No. 3:12-cv-03156, order (C.D. Ill., Sep. 30, 2013). Federal bankruptcy law allows...
by Devin Sawdayi | Jan 21, 2014
An upcoming art auction, conducted by the famous auction house Sotheby’s, will put over two hundred pieces up for sale as part of an asset liquidation in the ongoing bankruptcy of Ralph Esmerian. Esmerian, the former owner of a luxury jewelry retailer, pleaded guilty...
by Devin Sawdayi | Jan 12, 2014
A decision by the U.S. Supreme Court in United Student Aid Funds, Inc. v. Espinosa, 130 S. Ct. 1367 (2010), has reportedly prompted a review of various Chapter 13 bankruptcy procedures. The court affirmed an order discharging student loan debt, but only because the...
by Devin Sawdayi | Jan 7, 2014
A federal judge sentenced a Chapter 13 debtor to fifteen months in prison in December 2013, following his conviction of one count of bankruptcy fraud in April. Federal prosecutors accused him of failing to disclose assets, including lease contracts on residential real...
by Devin Sawdayi | Dec 30, 2013
Since 2005, individuals filing for bankruptcy under Chapter 7 or Chapter 13 must receive “credit counseling” from an approved agency before filing a petition. Failure to do so can result in dismissal of the person’s case. The stated purpose of credit counseling is to...
