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This post was prepared by yours truly, with contributions from Phil Bradford, a financial web content writer. Phil graduated from New York University School of Law and recently joined Herald University as a reporter. He has also written for websites such as debtfreeguys.com and disabilitycanhappen.org An now, on with the post… Those who’ve exhausted their financial options or...
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Richard Olson filed four Chapter 13 Bankruptcy Petitions and Plans in a five year period- the last one on the eve of the foreclosure of his home. The assignee of his original mortgage lender Bank of America objected to confirmation of his latest Plan on the basis that it failed to comply with the confirmation...
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In this case from right in our neighborhood - Joliet, Illinois - the Bankruptcy Court and 7th Circuit agree that using the market value of property instead of its artificially low disposal price in a tax sale reflects the real intent of both Bankruptcy law and Illinois law. At the same time, both Courts agree...
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In this carefully written Opinion Judge Schmetterer evaluates the arguments in a Motion to Dismiss an Adversary Complaint based on fraudulent behavior. Beyond its examination of Bankruptcy Fraud, this Opinion is notable for its recitation of the ways this former Attorney conned his Client out of money.
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This Opinion from Northern District of Illinois Bankruptcy Judge Jack Schmetterer showcases the interplay of Federal and State law in a complex commercial scenario. It also displays the characteristic desire of Federal Courts to keep things clear and simple: which is unfortunately the opposite of how convoluted factual and legal situations play out in State...
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Did the Chapter11 Debtor in Possession wait too long to disqualify opposing counsel based on a "conflict?" Looks like Judge Schmetterer thought so. You've been warned.
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