Although the bankruptcy code allows a debtor to claim certain personal property as exempt, the Treasury Department has a superior right to claim a tax overpayment, in order to offset monies owed to another federal agency. Background To finance the ...Read More »
The case of first impression held that despite a bankruptcy code section providing that exempt property cannot be used to satisfy a debtor’s prepetition debts, the tax code makes clear the government’s right to set-off a tax overpayment against a ...Read More »
The 4 Circuit, sitting en banc, holds that a Chapter 13 plan may bifurcate a claim based on an undersecured homestead mortgage into secured and unsecured components and cram down the unsecured component, overruling a 1997 decision that had ...Read More »
The 4th Circuit, sitting en banc, holds that a Chapter 13 plan may bifurcate a claim based on an undersecured homestead mortgage into secured and unsecured components and cram down the unsecured component, overruling a 1997 decision that had been ...Read More »
A debtor might be able to discharge a $20 million plus judgment through a Chapter 7 bankruptcy. The district court found the debt nondischargeable under principles of collateral estoppel, reasoning that, because the debtor was found liable for misappropriating trade ...Read More »
The Bankruptcy Code is clear that when a Chapter 13 plan is not confirmed, the trustee must return post-petition payments to the debtor. As a result, the child support division could not levy on funds held by the trustee because ...Read More »
On July 20, 2015, plaintiff’s decedent suffered fatal injuries when the airbag in a 2009 Chrysler Dodge Durango failed to deploy. Where plaintiff’s product liability claims of negligence, breach of warranties and strict liability (1) involve a vehicle made on ...
Tagged with: Tort/NegligenceRead More »
Although the debtor did not face a sudden medical emergency or unemployment, he did face increasing medical problems and reductions in his earnings. And while he made questionable financial decisions in the months before he filed bankruptcy, those decisions were ...
Tagged with: Chapter 7Read More »