On January 17, 2014, California Governor Jerry Brown declared a “State of Emergency” in California due to the severity of drought conditions across the State.
A few months ago, a ruling in the Chapter 11 case of Fisker Automotive narrowed a secured creditor’s right to credit bid its debt in connection with a sale of the debtor’s assets.
In no particular order, here are my Top 5 favorite references (overt or implied) to bankruptcy law in pop culture.
A Chapter 13 bankruptcy is a three to five year commitment between the debtor, his attorney, the trustee, and the bankruptcy court.
A while back I read about a study in which Bankruptcy Judges were asked whether an apology by the debtor helped when deciding whether to confirm a Chapter 13 Plan.
I (along with every other bankruptcy blogger) wrote extensively on the Fisker decisions from Delaware limiting a secured creditor’s right to credit bid. My original post is here, and some other good discussion can be found here and here.
The cost of going broke is going up. The Judicial Conference of the United States has approved several bankruptcy related fee increases at its March 2014 session.
A break-up fee is typically used to encourage a party to act as the initial or “stalking horse” bidder in connection with a sale under section 363 of the Bankruptcy Code.