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Puerto Rico files for Bankruptcy

Unable to pay its debt, Puerto Rico recently filed a Title III petition in federal court. Due to low financial resources and persistent creditor collection efforts, Puerto Rico became the first state …

August 3, 2017

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What is a Chapter 11 Bankruptcy?

Chapter 11, entitled Reorganization, ordinarily is used by individuals with high debt levels or commercial enterprises that desire to continue operating a business and repay creditors concurrently thr…

October 10, 2016

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  • Wilson v. Rigby November 27, 2018
    (United States Ninth Circuit) - Held that a Chapter 7 debtor was not allowed to amend a bankruptcy schedule to reflect a post-petition increase in the value of property that was the subject of a homestead exemption under Washington law. Affirmed.
  • In re Marriage of Vaughn November 27, 2018
    (California Court of Appeal) - In a Chapter 7 bankruptcy case, held that when the nature of a debt is such that its discharge will directly and adversely impact the finances of the debtor's spouse or former spouse, it is nondischargeable in bankruptcy, even if it is not directly payable to the spouse. Affirmed the […]
  • Bunn v. FDIC November 8, 2018
    (United States Seventh Circuit) - Held that the receiver for a failed bank, the Federal Deposit Insurance Corporation, did not have to honor a benefits agreement with a bank executive, because the benefit he sought was a golden-parachute payment prohibited by federal law. Affirmed summary judgment for the FDIC.
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