» Illinois Bankruptcy

Research by Bloomberg Law shows that only about 13 of a total 94 judicial districts will use the national Chapter 11 plan form. The others all have local forms (although Bloomberg Law hasn’t independently confirmed if or how many of these conform w… Read More

On Nov. 20, Bankruptcy Judge Jack B. Schmetterer of Chicago ruled that a wedding ring and an engagement ring are exempt as “necessary wearing apparel” without regard to value, as long as the wearer is still married to the person who gave it. Judg… Read More

It is not uncommon for a chapter 7 bankruptcy trustee to sue an educational institution to recover pre-bankruptcy tuition payments parents make on behalf of their children. The theory is that such payments benefit the child, not the parents, and can… Read More

Creditor harassment can be a big problem for people thinking about bankruptcy. Debt collectors may harass or abuse someone, make false or misleading statements, or take other improper actions. The Fair Debt Collection Practices Act is one tool that p… Read More

The District Court for the Northern District of Illinois just changed the discovery rules for how and when parties can get information and documents from their opponents in federal lawsuits. If you are involved in a federal lawsuit, it is important t… Read More

One question people often have about bankruptcy is how it will affect their credit scores. In a recent article (link), Paul Goldsmith-Pinkham, an economist with the Federal Reserve Bank of New York’s Research and Statistics Group, shows that credit… Read More

Recently the Court of Appeals for the Fifth Circuit (which covers Texas, Louisiana and Mississippi) held in Tower Credit, Incorporated v. Martin A. Schott (In re Jackson), No. 16-30274 (5th Cir. March 13, 2017), that a judgment creditor had to return… Read More

Caesar’s Entertainment Operating Company (along with numerous affiliates, collectively “CEOC”) filed the largest bankruptcy in Chicago’s bankruptcy court in recent memory. Large Chapter 11 filings in Chicago have been rare ever since the Kmar… Read More