A Settlement Term Sheet Signed After Mediation Was an Enforceable Contract
The state law standards for creation of a contract governed enforceability of a term sheet signed after mediation.
Personal Injury Settlement Was Not ‘Income’ Payable to Creditors in Chapter 13
Memphis Bankruptcy Judge Denise Barnett reads the BAPCPA amendments as excluding personal injury settlements from the calculation of ‘projected disposable income.’
Was the Guaranty Discharged? Best Practices for Creditors and Guarantors in Dealing with Post-Petition Relationships
Was the Guaranty Discharged? Best Practices for Creditors and Guarantors in Dealing with Post-Petition Relationships By Megan W. Murray Guaranties can be the lifeblood of loans, often adding credit support to a lender, which makes all the difference between a viable
First Circuit Describes How to Value an Interest in Entireties Property
The value of a debtor’s interest in entireties property isn’t necessarily 50% of the value of the entire property.
Eleventh Circuit Narrowly Reads a State Fee-Shifting Statute
The lawsuit was under federal law, not state law, even though Section 544(b)(1) incorporated state fraudulent transfer law.
Three Circuits Agree: The ACA’s ‘Penalty’ Is Actually a Tax Entitled to Priority
Looking beyond the label assigned by the Affordable Care Act, three circuits have now held that failure to pay the ‘individual mandate’ for purchasing health insurance gave rise to a tax entitled to priority in bankruptcy.
Benchnotes October 2023
By Bradley D. Pack, Aaron M. Kaufman and Christina Sanfelippo Debtor Must Pay Default Rate Interest to Cure Defaulted Debt; Takes Deep Dive into Difficult Issue While plenty has been written on the issue of what a debtor must do to “cure” and reinstate an accelerated
Government Bar Date Applies to DOE Loans Even When the Servicer Is Private
As long as the student loan is owing to the government, the Fifth Circuit holds that the government bar date applies even when the servicer is a private company.
Connecticut Supreme Court: Increased Homestead Exemption Applies to Existing Debts
Even under an unfavorable choice of law, a debtor in Connecticut was allowed to enjoy the state’s new $250,000 homestead exemption, even though her debts had accrued before the increase went into effect.