A statute of limitation is a law that limits the amount of time that a plaintiff or prosecutor has for filing a legal action.
As previously reported, on June 16, 2014, in NML Capital, Ltd. et al., v The Republic of Argentina, the United States Supreme Court declined to hear Argentina’s petition for writ of certiorari ending Argentina’s chance of overturning the interpretation of the pari passu clause by the United States District Court for the Southern District of New York which requires Argentina to make ratable payments to the holdout bondholders if it makes any repayments to the exchange bondholders.
Moody’s Lowers Outlook for RadioShack – Landlords Should Be Prepared to Protect Their Rights in Event of Bankruptcy Filing
Earlier this week, credit rating service Moody’s Investor Service lowered its outlook on RadioShack Corp., noting that the company’s “deteriorating liquidity gives the company a limited window for executing a turnaround in sales and earnings.”
As one court put it, “Neither knaves nor fools should be representing debtors who need legal assistance.” Bankruptcy law is not for the inexperienced, imprudent, or unprepared. Take, for example, a very common situation: divorce after bankruptcy.
When will your company’s Section 503(b)(9) claim be paid? Under normal circumstances, Section 503(b)(9) claims are paid when the debtor makes a final distribution to creditors.
Weeks after the city of Detroit released its valuation expert report on the value of the full collection of the Detroit Institute of Arts by Artvest Partners, creditors opposed to the city’s plan of adjustment and the “Grand Bargain” within it have released their own appraisal.
Mortgage servicer PHH Mortgage Corporation is in the news again, this time on the losing end of a $16 million jury verdict. Like many others in Yuba County, California, homeowner Phillip Linza ran into some financial trouble after purchasing his home in 2006. Linza filed bankruptcy in 2009, then worked with PHH for a home loan modification.
The ramifications of the Garlock asbestos bankruptcy are just beginning to be felt across the country. As new developments continue to play out, it is important to note that in each of the 15 cases in which Garlock was allowed to conduct additional discovery, the bankruptcy court found evidence that alternative exposures to asbestos were withheld. This groundbreaking case has shed light on extremely valuable areas of discovery previously not pursued in a thorough enough manner.
The Supreme Court unanimously held in Clark v. Rameker, 573 U.S. ___ (2014), that retirement funds inherited by abeneficiary from the original plan participant are not considered ‘retirement funds’ within the meaning of the federal bankruptcy exemptions found at 11 U.S.C. 522(b)(3)(c).