521(2)(a) Allows Non-defaulting Chapter 7 Debtor to retain Property subject to Secured Loan by Staying Current In re Price __ F.3d __ (3rd Cir. 2004) The Prices wanted to use their automobiles while remaining current on their monthly loan payments. Lienholder, Delaware State Police Federal Credit Union (“Credit Union”), convinced the Bankruptcy Court and the...Read More
Just plain awful … Bankruptcy Lawyer Loses Clients their Home Judge John R. Hawkinson of District Court in Grand Rapids has ruled in favor of Thomas and Sandra May in a civil suit they brought against a Park Rapids attorney. The judge has ordered Bill Jones to pay the couple $49,721.50 in damages plus interest...Read More
No smart-ass tagline needed on this one … Lawyer Disbarred for Bankruptcy Ebezzlement Associated Press JACKSON, Miss. – The Mississippi Supreme Court on Thursday disbarred a Gulf Coast attorney sentenced in January to 26 months in prison for bankruptcy embezzlement. William S. Boyd III of Gulfport pleaded guilty last fall in federal court in Gulfport,...Read More
From the U.S. Department of Poetic Justice, Cruel Irony Division … AmeriDebt Files for Chapter 11 Protection Credit-counseling company AmeriDebt, charged by federal regulators with using deceptive marketing to bilk hundreds of thousands of customers, filed for bankruptcy yesterday, the company announced. Christine Kraly, a spokeswoman for the Germantown-based company, said the filing for Chapter...Read More
Case Updates Default Judgment for Fraud is Res Judicata in Bankruptcy Court In re John W. Catt, II (7th Cir. 2004) One might suppose that findings made in default proceedings would never be given collateral estoppel (issue preclusion) effect because they are not based on a /C-ifull and fair/C-i hearing/C-oa standard formulation of the criterion...Read More
Debt Collector Fined $1.5 Million David Goch Washington Legislative Counsel Commercial Law League of America In order to resolve claims of illegal conduct, per a consent judgement filed in the U.S. District Court for the Eastern District of Pennsylvania May 12th, a major debt collector will refrain from future violations of the Fair Credit Reporting...Read More
Debtor Convicted of Concealing Stock Options By Chery Sabol The Daily Inter Lake A Eureka, Montana man pleaded guilty to Federal crimes including making false statements to a local bank and failing to disclose his interest in stock options and other assets. Duncan W. Edwards, 59, entered his plea in Missoula on Monday. Chief U.S....Read More
Abuse of Privilege Claimed Against UST By Phil Kent The Washington Times – May 28, 2004 Congress created the U.S. Trustee Program as a pilot project in the 1978 Bankruptcy Reform Act to act as a “watchdog.” Yet, recently in Kentucky a case was brought on behalf of Debtors against the check-cashing industry in which...Read More
BANKRUPTCY FILINGS UP 2.8% The number of personal bankruptcies filed for the 12 month period ending March 31, rose 2.8%. This continues the upward trend that is arguably inconsistent with claims of the economic recovery. David Goch Washington Legislative Counsel Commercial Law League of AmericaRead More
