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 Miscellaneous Cases,Northern District CasesAn entire blog could be devoted to the intersection of Bankruptcy and divorce, but for this post we will look at what happens when a divorce decree (or final settlement agreement) requires that one of the spouses transfer his or her interest in real property to the other spouse, but before the actual transfer is… Continue Reading
By Scott Riddle Posted in Northern District Cases… at least in Judge Sigler’s Court in the Northern District of Georgia. Primary Investments Group, Inc. v. RA Custom Design Inc., 2024 WL 607716, Adv. Proc. No. 23-05193-sms (February 13, 2024). The holding is consistent with most courts that have ruled on the issue, with the exception of the Fourth Circuit Court of Appeals… Continue Reading
By Scott Riddle Posted in Eleventh Circuit CasesIn a case of first impression in the Eleventh Circuit, the Circuit Panel addressed the dischargeability of debts incurred by a produce buyer who is acting as a trustee under the Perishable Agricultural Commodities Act (“PACA”). In re Forrest, 2022 WL 3908803 (11th Cir. August 31, 2022)(click here for .pdf). The court concluded that debts… 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 Eleventh Circuit Cases,Northern District CasesIn Auriga Polymers, Inc. v. PMCM2, LLC, as Liquidating Trustee, No. 20-14647, 2022 WL 2800195 (11th Cir. July 17, 2022) (click here for .pdf) the creditor, Auriga, received transfers of more than $2.2 million in the 90 days before the Debtor, Beaulieu Group, LLC, filed its Bankruptcy case on July 16, 2017. During the 90… Continue Reading
By Scott Riddle Posted in Consumer Bankruptcy Guide,Northern District CasesIn the case of In re Ruff, 2022 B.R. 1638964, Ch. 7 Case No. 20-68855-pwb (Bankr. N.D.Ga. March 31, 2022) (click here for .pdf) the issue was whether the educational loans owed by the Debtor were “consumer” debts as defined by 11 U.S.C. §101(8) of the Bankruptcy Code, and incorporated into 11 U.S.C. §707(b). If… Continue Reading
By Scott Riddle Posted in Eleventh Circuit Cases,Northern District CasesOnce again, a Bankruptcy case leads to a key opinion in Georgia real estate law and, as often the case, the Chapter 7 Trustee prevails. In In re Lindstrom, 2022 WL 1041192 (11th Cir. April 7, 2022) (click here for .pdf) the issue was the validity of a security deed, the interpretation of the Georgia… Continue Reading
By Scott Riddle Posted in Eleventh Circuit CasesIn a relatively brief opinion, the Eleventh Circuit Court of Appeals ruled on the deadlines for appealing an order from the District Court (acting as an appellate court for a Bankruptcy Court Order) to the Court of Appeals. Appellants appealed a Bankruptcy Court Order to the District Court for the Northern District of Georgia. On… Continue Reading
By Scott Riddle Posted in Georgia State Cases,Middle District CasesIn Georgia, does a judgment lien attach to real property as of the date the judgment was entered or as of the date and time the writ of fieri facias on that judgment is properly recorded in the county records, as required under Georgia law? The Supreme Court of Georgia answered this question in Synovus… Continue Reading
By Scott Riddle Posted in Corporate & Fiduciary Litigation,Miscellaneous CasesIn Jay Alix, as assignee of AlixPartners, LLP v. McKinsey & Co., Inc., 2022 WL 163800 (2nd Cir., January 19, 2022) (click here for .pdf), two major competitors in the niche market of Bankruptcy advising to estates with a billion dollars or more of assets were in court against each other over lucrative consulting assignments.… Continue Reading
By Scott Riddle Posted in Eleventh Circuit Cases,Georgia State Cases,Northern District CasesIn In re Hoffman, 2022 WL 203415 (11th Cir. January 24, 2022) (click here for .pdf) the issue before the Court was whether Roth IRAs were exempt pursuant to 11 U.S.C. §541(c)(2) or O.C.G.A. § 44-13-100(a)(2)(E). This is a case of first impression in the Circuit, based upon recent amendments to the Georgia exemption statutes.… Continue Reading
By Posted in Northern District CasesAfter a slow three weeks for Chapter 11 filings, Atlanta-based technology company Verso Technologies, Inc. (yahoo! Finance, Google Finance), and four related entities, filed Chapter 11 petitions in the Northern District of Georgia on April 25, 2008. The cases are — 08-67659 Verso Technologies, Inc. Filed: 04/25/2008 Entered: 04/25/2008 08-67660 Verso Backhaul Solutions, Inc. Filed: 04/25/2008 Entered: 04/25/2008 08-67661 Verso Verilink… Continue Reading
By Posted in News and CommentsFrom Bloomberg – April 11 (Bloomberg) — They’re talking more about Chapter 9 municipal bankruptcy in Jefferson County, Alabama, the home of the largest city in the state, Birmingham. Who can blame them? The county is now being whipsawed by an ill-thought-out debt policy and the collapse of the bond insurers. Credit-rating downgrades all around… Continue Reading
