Georgia Bankruptcy Blog

Georgia Bankruptcy Blog

Tag Archives: Bankruptcy

The Rumor Mill: Jefferson County, Alabama, Which Includes Birmingham, Might Be Largest U.S. Municipal Bankruptcy

From 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

Is Section 522(p) of the Code – The Exemption Cap For Debtors Who Have Recently Made Interstate Moves – Unconstitutional?

Professor John Pottow of the University of Michigan Law School thinks so in his latest Credit Slips post. The Code section in question is Section 522(p), which provides as follows – (p)(1) Except as provided in paragraph (2) of this subsection and sections 544 and 548, as a result of electing under subsection (b)(3)(A) to exempt… Continue Reading

PR At Work: Houston Bankruptcy Judge Finds Firm “Disinterested” Even Where Lawyer In Firm Holds Claim Against Debtor And Served As Director Of Debtor Shortly Before Filing

This case comes courtesy of an email from Jennifer Gronwaldt of the Media Relations firm of Hellerman Baretz Communications LLC, apparently sent to other bankruptcy blogs as something of a press release (it apparently worked!). The case is In re Cygnus Oil and Gas Corp., f/k/a Coffee Exchange, Inc., f/k/a Touchstone Resources, LLC, Case No.… Continue Reading

Arizona Bankruptcy Court – “Ride Through” Still Available For Secured Debts After Failure Of Timely Filed Reaffirmation Agreement

In re Moustafi (click for opinion), Ch. 7 Case No. 4-07-00407-EWH, 2007 Bankr. LEXIS 1925 (Bankr. D. Ariz. June 4, 2007.  The Chapter 7 debtor stated her intention to reaffirm the debt secured by her vehicle. She timely executed the reaffirmation agreement pursuant to §521, and it was accepted by the lender.  However, the court found that debtor’s income… Continue Reading

Texas Bankruptcy Court Finds Georgia Courts Would Not Recognize Tort of Deepening Insolvency; Denies Motion To Dismiss Based On Exculpation Provision

Posted By: Scott B. Riddle, Esq. In Kaye v. Dupree, et al. (In re Avado Brands, Inc.), Adv. No. 05-3823, 2006 Bankr. LEXIS 3631 (Bankr. N.D. Tex. December 28, 2006), the Trustee of the Debtor’s Litigation Trust filed a post-confirmation suit against the Debtor’s former officers and directors.  The causes of action included preferential transfers,… Continue Reading

ND Ga – Bankruptcy Court Has Supplemental Subject Matter Jurisdiction Over Third-Party Claim That Does Not “Arise Under” The Bankruptcy Code Or “Arise In” Bankruptcy Case, And Is Not “Related To” The Bankruptcy Case

Posted By: Scott B. Riddle, Esq. Hospitality Ventures/Lavista v. Heartwood II, LLC, et al (In re Hospitality Ventures/Lavista), Adv. No. 03-06596, 2007 Bankr. LEXIS 39 (Bankr. N.D. Ga. January 3, 2007)(Bonapfel) (click caption for opinion). I will briefly review the facts and conclusions, but I recommend reading the full opinion as the issues are complicated and… Continue Reading

11th Cir – Chapter 7 Trustee Acted Outside Scope Of Authority In Shutting Down Wrong Business; Resulting Lawsuit Not Core Or “Related To.”

By: Scott B. Riddle, Esq. Welt v. MJO Holdings, Inc. (In re Happy Hocker Pawn Shop, Inc.), No. 05-16182, 2006 U.S. App. LEXIS 31639 (11th Cir. December 21, 2006). Prior to filing bankruptcy, the debtor pawn shop had transferred its inventory to the plaintiff in satisfaction of a debt, and the plaintiff thereafter also operated a pawn… Continue Reading

Summary of New Electronic Discovery Rules

The Electronic Discovery Blog has a good summary of the new amendments to the Federal Rules of Civil Procedure as they pertain to electronic discovery.  You can view the post by clicking here. As a side note, the I have upgraded to the new version of Adobe Acrobat 8, and it is a very nice improvement… Continue Reading

Amendments To Federal Rules Of Civil Procedure Effective Friday December 1, 2006

The Amendments to the Federal Rules of Civil Procedure, and by extension the Federal Rules of Bankruptcy Procedure, are effective this coming Friday, December 1, 2006.  You can read a summary of the amendments by clicking here.  All lawyers, including in-house counsel, should be aware of the new rules regarding electronic discovery and the preservation of electronic… Continue Reading