By Scott Riddle Posted in Miscellaneous Cases,News and CommentsIt is expensive to stay in Bankruptcy. Last month a Brown Rudnick lawyer tried to increase his hourly rate from $1,000 per hour to $1,500 per hour. Chief Judge Laurie Selber Silverstein in Delaware rejected the increase, “saying that no client would approve such a steep fee hike in the middle of a case.” See… Continue Reading
By Scott Riddle Posted in News and Comments,Northern District CasesI don’t typically post about new Chapter 11 filings unless there is something compelling about them, but almost 300 Chapter 11 cases for Lavie Care Centers and related entities filed on the same day qualifies as news here in the Northern District of Georgia. The Motion for Joint Administration alone is 49 pages, most of… Continue Reading
By Scott Riddle Posted in News and Comments,Northern District Cases,Small Business BankruptcyThe Governors Gun Club of Kennesaw filed a Chapter 11 case in the Northern District of Georgia on August 17, 2022. Case No. 22-20787-jrs. The reason for the filing, as stated in pleadings filed with the Court – Like so many other small businesses, the Debtor suffered a series of setbacks at the hands of… Continue Reading
By Scott Riddle Posted in News and Comments,Northern District Cases“It has been said that, in many bankruptcy cases, there are no good alternatives, only less bad ones. As financial realities in this case took hold, it became clear that, for most creditors, including the objectors, there were not even “less bad” alternatives. The Court is saddened that it can offer only an explanation for… Continue Reading
By Scott Riddle Posted in Miscellaneous Cases,News and CommentsNo, you have not accidentally stumbled upon the Georgia Criminal Law Blog, and I am not going to change my practice area just yet (though on the slow days I often think about it). I happen to come across this case today and thought it may be of interest, especially with the news we see… Continue Reading
By Scott Riddle Posted in Corporate & Fiduciary Litigation,Miscellaneous Cases,News and CommentsBitcoin – currency, the equivalent of U.S. dollars, or a commodity more similar to a product or stock? (What is Bitcoin?). If a Trustee sues to avoid and recover a transfer of Bitcoin, is the claim amount for the value of the transfer at the time of the transfer, or increased (or decreased) value at… Continue Reading
By Scott Riddle Posted in Miscellaneous Cases,News and Comments“Believe it or not, the US Marshals Service in Houston is arresting people for not paying their outstanding federal student loans.” So says Fox 26 Houston reporter Isiah Carey. The problem is, this statement is absolutely false. Paul Aker owed student loans, and was apparently in default. Paul Aker was sued for the student loan… Continue Reading
By Scott Riddle Posted in Middle District Cases,News and CommentsIn a significant victory for former Georgia football coach Jim Donnan, a Bankruptcy Judge has ruled that the evidence at trial did not support a finding that Donnan knowingly participated in a fraudulent Ponzi Scheme. The case is Fennell v. Donnan, Adv. No. 11-3088, 2013 Bankr. LEXIS 3110 (Bankr. M.D. Ga. August 1, 2013) (Judge… Continue Reading
By Scott Riddle Posted in News and Comments,Northern District CasesSeveral popular restaurants in metro Atlanta filed Chapter 11 petitions in the Northern District of Georgia on June 13, 2013 after a $2.14 million judgment was entered in Cobb County Superior Court. The entities filing include: Vinings Dining, LLC (d/b/a Garrison’s Boiler & Tap), Ch. 11 Case No. 13-63089 (click here for Ch. 11 petition).… Continue Reading
By Scott Riddle Posted in News and CommentsAccording to a new study by Robert Lawless and Jennifer Robbennolt (summarized in the Wall Street Journal), Judges are more likely to approve a Chapter 13 plan that includes an apology. From the Wall Street Journal article: In the 29-page study, Lawless and colleague Jennifer Robbennolt said they told participating judges about the Millers, a fictional family… Continue Reading
By Posted in News and CommentsSymposium Schedule – February 28, 2013 8:00 am – 8:50 am Registration and Breakfast 8:50 am – 9:00 am Introduction Dean Robert Schapiro, Emory University School of Law 9:00 am – 10:30 am Corporate Panel: Municipal Restructuring Moderator: Gary Marsh, McKenna Long & Aldridge LLP Patrick Darby, Partner, Bradley Arant Boult Cummings Mark Kaufman, Partner, McKenna… Continue Reading
By Posted in News and CommentsGreg Hays of Atlanta-based Hays Financial Consulting published an article in the Fall 2012 issue of Receivership News, a publication of the California Receivers Forum. The subject and scope of the article, entitled "Avoiding a Nightmare," is described in the introduction: A properly structured receivership can provide a cost-effective, efficient, and flexible vehicle to protect… Continue Reading
By Posted in News and Comments,Northern District CasesPrevious articles have discussed the fiduciary duties of officers and directors of companies in financial trouble (see articles here and here). In another adversary proceeding to hold owners, officers and directors responsible for the financial demise of their companies, the Chapter 7 Trustee of Swoozie’s has filed a Complaint against the founder and former CEO… Continue Reading
By Posted in News and Comments,Northern District CasesA second lawsuit has been filed in the Chapter 7 cases related to Raving Brands and its owners, officers and affiliated companies. The first adversary proceeding was filed last week in the Chapter 7 case In re Raving Brands, Inc., Ch. 7 Case No. 09-68410. The latest proceeding was filed in the related case, In… Continue Reading
By Posted in News and Comments,Northern District CasesMorris Brown College, a historically black college in Atlanta and part of the Atlanta University Center (which also includes Clark Atlanta University, Spelman College, Morehouse College and the Morehouse School of Medicine) filed a Chapter 11 petition in the Northern District of Georgia on August 25, 2012 to avoid a foreclosure of its property. The… Continue Reading
By Posted in Corporate & Fiduciary Litigation,News and Comments,Northern District CasesThe Chapter 7 Trustee of Raving Brands, Inc. filed on August 16, 2012 an adversary proceeding against several former owners, officers and directors of the Debtor, as well as several affiliated companies, alleging, inter alia, that the parties engaged in a widespread effort to deceive the public, its franchisees, the press, courts and its creditors.… Continue Reading
By Posted in News and Comments,Southern District CasesJim Donnan has more problems with the SEC, but this time it is the Securities and Exchange Commission and not the other football teams in the Southeastern Conference. Donnan, the football coach for the Georgia Bulldogs from 1996-2000 was sued by the SEC on August 16, 2012 and accused of actively participating in and promoting a multi-million… Continue Reading
By Posted in News and CommentsThe latest statistics from the Northern District of Georgia Clerk’s Office and Administrative Office show, not surprisingly, that filings are down. In the Northern District of Georgia, Chapter 7 and 13 filings are down significantly from January to June 2012, compared to the same time period in 2011. The total cases filed year to date,… Continue Reading
By Posted in Georgia State Cases,Miscellaneous Cases,News and CommentsIn a case of first impression, the Georgia Court of Appeals has held that a foreclosure notice must identify both the secured lender and the "individual or entity who shall have full authority to negotiate, amend, and modify all terms of the mortgage with the debtor." Reese v. Provident Funding Associates, LLP, 2012 Ga. App. LEXIS… Continue Reading
By Posted in News and CommentsBill Rothschild of Ogier, Rothschild, Rosenfeld & Ellis-Monroe, P.C., has an article in the current issue of Calendar Call, a publication of the General Practice and Trial Section of the State Bar of Georgia, entitled "Bankruptcy-Proofing Your Law Judgment: How Not to Try the Same Case Twice." The article discusses steps litigators should take in non-bankruptcy courts to… Continue Reading
