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Relief from Automatic Stay Denied in Casey Anthony’s Chapter 7 Bankruptcy Case
Casey Anthony, who gained international notoriety after prosecutors charged her with the murder of her daughter, Caylee Anthony, in 2008, filed for Chapter 7 bankruptcy in early 2013. She claimed substantial debts mostly related to her legal fees. In re Anthony, No....
Ninth Circuit Allows Partial Discharge of Student Loan Debt
Federal law does not allow the discharge of student loan debt in a bankruptcy case, except with a showing of “undue hardship.” The Ninth Circuit Court of Appeals recently ruled in favor of a debtor, who sought discharge of his student loan debt in a decade-old...
Music Mogul’s Chapter 11 Bankruptcy Plan Causes Controversy
The trustee has filed a proposed Chapter 11 bankruptcy plan in the case of Lou Pearlman, a music mogul currently serving a prison sentence for various fraud offenses. In re Pearlman, No. 6:07-bk-00761, Chapter 11 trustee’s plan (Bankr. M.D. Fla., Jun. 12, 2013)....
Court Addresses Grounds for Granting Relief from Automatic Stay in Chapter 7
The Ninth Circuit affirmed an order establishing eligibility for relief from the automatic stay in a Chapter 7 case, finding that the copy of the promissory note presented by the bank met the requirements of the Federal Rules of Evidence. In re Griffin, No. 12-60046,...
California Appeals Court Allows Involuntary Bankruptcy Case to Proceed Where Creditors’ Claims Are State Court Judgments Under Appeal
In certain circumstances, creditors may file a bankruptcy petition against a debtor, essentially forcing the debtor into a repayment plan. This process, known as involuntary bankruptcy, is mostly used against businesses with substantial debts and sufficient assets to...
Illness or Other Misfortune Often Leads to Bankruptcy, as Shown by a Los Angeles Chapter 13 Case
Financial distress can affect almost anyone, and bankruptcy protection can be an effective way to recover from seemingly insurmountable difficulties. Many people find themselves filing for bankruptcy as the result of a sudden or unexpected event, like an illness or...
Debtor’s Retirement Annuity is Not Excludable from Disposable Income in Chapter 13
In a Chapter 13 bankruptcy case, debtors must provide a calculation of their total monthly income, as well as their total disposable income for a given month. These two amounts are not necessarily the same, as state and federal laws allow a debtor to exclude certain...
Payment of a Debt Prior to Bankruptcy is Not a Fraudulent Transfer, According to Ninth Circuit
In a bankruptcy proceeding, a trustee may avoid transfers made, or obligations incurred, by the debtor during the two years prior to the filing date, if the transfer or obligation was actually or constructively fraudulent. 11 U.S.C. § 548(a). The Ninth Circuit...
Los Angeles Bankruptcy Court Dismisses Tech Entrepreneur’s Case Because of Missed Deadline
A bankruptcy judge in Los Angeles dismissed a Chapter 7 case filed by the founder of a well-known technology website, finding that the debtor missed a filing deadline. In re Minor, No. 2:13-bk-23787-TD, order and notice of dismissal (Bank. C.D. Cal., Jun. 13, 2013)....
The Four Bankruptcies of Donald Trump
Among famous and wealthy businesspeople in the United States, Donald Trump stands out for having had particularly great influence on American culture. With a series of real estate ventures, several television series, numerous books, and no small amount of public...
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