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Mack Industries - Agenda for October 16 Omnibus Hearing

We just posted a copy of the agenda for the upcoming Omnibus Hearing on the Mack Industries avoidance actions filed by our office. The next hearing will take place on October 16, 2019. Click here for to go to our Mack Industries page. Read More
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ABI Blog advises that separate classification of a co-signed student loan barred in a Chapter 13 Plan despite tendency of courts to allow separate classification of co-signed debts under 1322(b)(1).

According to the ABI’s Rochelle Daily Wire, a parent who cosigned a student loan for a child cannot separately classify the loan and pay it in full under a chapter 13 plan. Before filing, the debtor-mother cosigned a 15,000 student loan to… Read More
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Small Business Reorganization Act Enacted

As discussed in a previous post, on Friday, the Small Business Reorganization Act was signed into law and will take effect in 180 days. The new law, which FactorLaw will further summarize in future blog posts, adds a new subchapter to the Bankr… Read More
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Agenda for Next Mack Omnibus Hearing

We just posted a copy of the agenda for the upcoming Omnibus Hearing on the Mack Industries avoidance actions filed by our office. The next hearing will take place on August 21, 2019. Click here for to go to our Mack Industries page. Read More
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Seventh Circuit holds that a debtor's "contingent future interest" in tenancy by entireties property is not exempt.

In re Jaffe, 18-2726 (7th Cir. August 5, 2019), the Seventh Circuit held that a homeowner’s “contingent future interest” in an otherwise exempt form of home ownership – tenancy by the entireties – was not exempt and was instead… Read More
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Chicago Appellate Court directs City of Chicago to release impounded vehicles when owner files Chapter 13 petition.

Seventh Circuit directs City of Chicago to release impounded vehicles and affirms holding in Thompson. Read More
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Court rejects "sufficiently rooted" test and holds bankruptcy estate does not include portion of bonus earned from prepetition employment

In In re Brown, Case No. 18-81242 (Bankr. C.D. Ill. May 9, 2019), Judge Perkins of the Central District of Illinois, concluded that property of the estate did not include that portion of a debtor’s annual bonus payable after the petition d… Read More
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First Circuit adopts strict reading of numerosity requirement for involuntary petitions.

In In re Edgar A. Reyes-Colon, Nos. 17-1971, 17-1972, (1st Cir. April 24, 2019), the First Circuit rejected the contention advanced by the two creditors that filed an involuntary petition against a debtor with more than twelve creditors, that th… Read More
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Money inherited more than 180 days after petition date belongs to Chapter 13 bankruptcy estate

In Moore, the bankruptcy court for the Eastern District of Tennessee joined a majority of courts and held that money inherited outside of the 180 day window set forth in § 541 was still property of the chapter 13 estate.  In the Moore case, th… Read More
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Ariane Holtschlag testifies before House Judiciary Committee

FactorLaw is proud to announce that our Partner, Ariane Holtschlag, testified on September 27, 2018, before the House Judiciary Committee.  Ariane testified as a member of the American Bankruptcy Institute’s Commission on Consumer Bankrup… Read More
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