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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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  • In re Steenes March 14, 2019
    (United States Seventh Circuit) - Held that the City of Chicago, which sought to recoup thousands of dollars in parking and moving-violation fines incurred by seven bankruptcy debtors, was entitled to an order restoring their bankruptcy estates' assets to their personal ownership. Reversed the ruling below in these consolidated appeals.
  • In re Pettit Oil Co. March 11, 2019
    (United States Ninth Circuit) - In the bankruptcy proceeding of a distributor of bulk petroleum products, held that a consignor's unperfected security interest in fuel and monetary proceeds was subordinate to the trustee's interest. Affirmed the judgment below.
  • Trinity 83 Development LLC v. ColFin Midwest Funding LLC March 1, 2019
    (United States Seventh Circuit) - Rejected a mootness argument in a dispute between an insolvent borrower and the holder of a mortgage note. Overruled In re River West Plaza-Chicago LLC, 664 F.3d 668 (7th Cir. 2011), holding that 11 U.S.C. section 363(m) does not make any dispute moot or prevent a bankruptcy court from deciding […]
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