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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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  • 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.
  • Daff v. Good October 22, 2018
    (United States Ninth Circuit) - Held that the time period in which a creditor could execute on an Order for Appearance and Examination (ORAP) lien was tolled during the automatic stay. Affirmed the Bankruptcy Appellate Panel's decision and remanded for further proceedings.
  • Um v. Spokane Rock I, LLC September 14, 2018
    (United States Ninth Circuit) - Affirmed that Chapter 11 of the Bankruptcy Code did not permit the co-founders of several real-estate management companies to discharge a debt arising from a state-court judgment for fraud and misrepresentation. The central issue in this case was whether the individuals continued to engage in business after consummation of the […]