The U.S. Supreme Court has clarified that proof of malicious intent is not required to prevent the bankruptcy discharge of a debt that arose from a trustee’s self-dealing.
An IRA that a debtor inherited from her mother was not exempt from creditors’ claims in her bankruptcy case, the 7th U.S. Circuit Court of Appeals has ruled in reversing judgment.
In a continuation of the downward trend that began in 2011, bankruptcy filings in federal courts declined during calendar year 2012, according to data released by the Administrative Office of the U.S. Courts.
The U.S. Supreme Court will decide whether a judgment against a debtor for breaching the terms of a trust constitutes “defalcation” under the Bankruptcy Code and therefore disqualifies that debt from a bankruptcy discharge.
A new federal study recommends changes in consumer protection and bankruptcy law to provide relief for those Americans saddled with a share of the country’s $1 trillion in student loan debt, largely blaming private lenders for the problem.
Chapter 11 cramdown plans that provide for the sale of debtor’s collateral free and clear of a bank’s lien must allow the bank to credit-bid at the sale, the U.S. Supreme Court has ruled.
