Bankruptcy/Debtor-Creditor Rights Blog

Related Practice Areas: Commercial Restructuring & Bankruptcy and Creditor Rights

• U.S. SUPREME COURT PUTS AN END TO ‘PROJECTED DISPOSABLE INCOME’ DEBATE
  Posted December 13, 2010
  

  Author: Chris A. McNulty

  The “forward-looking approach” is the appropriate method to determine a Chapter 13 debtor’s projected disposable income, according to a recent Supreme Court decision.  See Hamilton v. Lanning, 130 S.Ct. 2461 (2010).  The Court’s opinion adopted …

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• BANKRUPTCY COURT DENIES BARBER CHAPTER 7 DISCHARGE OF DEBTS
  Posted November 24, 2010
  

  Author: Chris A. McNulty

  Brandon Barber’s $47.8 million in debt will not be discharged through Chapter 7 bankruptcy, according to an opinion recently issued by Bankruptcy Judge Ben T. Barry.   In his opinion, Judge Barry found that there was …

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• LUXURY LIVING FOUND TO BE ABUSE OF CHAPTER 7
  Posted November 3, 2010
  

  Author: Chris McNulty

  Living in a $400,000 home and incurring excessive monthly living costs while trying to shed unsecured debt through bankruptcy is an abuse of the bankruptcy system and is grounds for dismissal under § 707(b)(3)(A) …

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• IS AN ORDER DISCHARGING STUDENT LOAN DEBT IN THE ABSENCE OF A FINDING OF UNDUE HARDSHIP OR AN ADVERSARY PROCEEDING, OR BOTH, VOID FOR RULE 60(B)(4) PURPOSES?
  Posted September 28, 2010
  

  Author: Chris A. McNulty

  In United Student Aid Funds, Inc. v. Espinosa, the United States Supreme Court  resolved the circuit split on whether the lack of an adversarial proceeding or finding of undue hardship before the discharge of student …

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• TWO VIN NUMBERS, ONE VEHILCLE – COUSIN EDDIE’S RV
  Posted August 27, 2010
  

  Author: Alex T. Gray

  In Arkansas, to perfect a security interest in a vehicle a secured party must have an (1) authenticated security agreement that reasonably describes the collateral, (2) must have given value, (3) the debtor must have …

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• QUALIFYING AS HEAD OF HOUSEHOLD FOR HOMESTEAD EXEMPTION IN ARKANSAS
  Posted June 15, 2010
  

  Author: Chris A. McNulty

  In a 2010 Western District of Arkansas bankruptcy decision, the court held that a single female with no children but who intermittently had family members stay at her home qualified as head of household for …

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• WHAT’S IN A NAME?: THE PROPER USE OF TRADE NAMES ON UCC1 FINANCING STATEMENTS
  Posted June 4, 2010
  

  Author: Margaret A. Johnston

  A recent decision of the Eighth Circuit Court of Appeals serves as a valuable reminder of the potentially harsh consequences of using an incorrect name on an UCC-1 Financing Statement.  In Hastings State Bank v. Stalnaker …

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• SUPREME COURT OF THE UNITED STATES TO DECIDE IF AN ABOVE MEDIAN INCOME DEBTOR SEEKING RELIEF IN A CHAPTER 13 BANKRUPTCY CAN DEDUCT FROM HIS PROJECTED DISPOSABLE INCOME A VEHICLE WHICH HE OWNS FREE AND CLEAR
  Posted May 21, 2010
  

  Author: Alex T. Gray

  The circuits have been in debate over whether a debtor can deduct a vehicle which he owns free and clear from his projected disposable income.  Under the means test of 11 U.S.C. § 707(b)(2), an …

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• CHECK YOUR COLLATERAL: NON-POSSESSORY, NON-PURCHASE MONEY SECURITY INTERESTS MAY BE AVOIDED IN BANKRUPTCY
  Posted May 18, 2010
  

  Author: Chris A. McNulty

  Creditors that have taken collateral that the borrower already owned may want to check their loan documents and see whether the collateral is being used as a “tool of the trade.”  If it is, the …

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• THE COURT’S ROLE IN DETERMINING WHETHER A DEBTOR’S WAIVER OF DISCHARGE IS EFFECTIVE
  Posted March 29, 2010
  

  Author: Chris A. McNulty

  Debtors may not be able to obtain a waiver of discharge as easily as once thought.  The Eighth Circuit Bankruptcy Appellate Panel’s (the “BAP”) decision in In re Asbury to allow bankruptcy court’s to consider …

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