Courts typically apply the Brunner test to determine "undue hardship" when faced with a debtor with student loan debt, yet two recent decisions seem to have softened the harshness of § 523(a)(8).
Most Recent Flipbooks
Trustee Avoidance Cases to Recover Debtors' Education Payments for Their Children
Chapter 7 trustees have increasingly brought claims to avoid education-related payments made by debtors on behalf of their children as fraudulent transfers under 11 U.S.C. §§ 544 and 548.
What the Rules of Professional Conduct Say About Social Media
Ethics opinions from across the nation make it clear that the rules of professional conduct (RPC) apply to attorney communications and marketing in digital form just like any traditional medium.
HAVEN Act: Protecting Disability and Death Benefits in Bankruptcy
The HAVEN Act amended § 101(10A) of the Bankruptcy Code by replacing subparagraph (B), which exempts service member death and disability compensation from current monthly income.
Should "Wet Ink" Signature Requirements Be Abolished?
Many courts have enacted local rules requiring attorneys to retain “wet ink” signatures for a certain period of time, but such rules ignore the reality that business is largely conducted digitally.
Restructuring a Distressed Health Care Portfolio Company
In recent years, PE investment in physician practices and health care has notably increased, which could lead to an increasing amount of restructurings for PE in the complicated world of health care.
How the USTP Plans to Implement HAVEN Act, SBRA
As the SBRA and HAVEN Act represent substantial changes to bankruptcy law and practice, teams of EOUST personnel are working to recommend changes to the USTP’s practices and to identify legal issues.
Beware of Potential Damages When Filing an Involuntary Petition
Commencing an involuntary bankruptcy case against an adversary could result in severe consequences to a petitioning creditor in the form of attorneys’ fees, compensatory damages and punitive damages.
24-Hour Prepacks
Much quicker and generally less expensive than traditional chapter 11 filings, prepackaged chapter 11s (prepacks) have been on a steep rise in the last few years — as have “super speedy prepacks.”
Toxic Tort Claims in Bankruptcy
Environmental-contamination claims present tricky issues for debtors seeking a fresh start through bankruptcy, as well as for creditors and purchasers of distressed assets.
In Valuation, Should Management Be Believed?
Management often has familiarity with a company’s operations, competitors, opportunities and challenges. However, valuation experts shouldn't blindly accept the projections management produces.
Arbitrability of Student Loan Dischargeability
In their first years of coexistence, the Bankruptcy Code and Federal Arbitration Act (FAA) rarely, if ever, intersected, but the explosion in student loan debt has finally led to their entanglement.
How Long Will Bankruptcy Filings Remain Stable?
While filing levels have been relatively unchanged for the last several years, in the bankruptcy world large annual swings in filings are far more common than periods of stability.
Climate-Change Claims in Bankruptcy Courts
In In re Peabody Energy Corp., the district court affirmed the bankruptcy court’s finding that causes of action to hold a coal company responsible for climate change were discharged in bankruptcy.
When Pets Are Collateral for Secured Loans
Although animal lovers might not want to believe it, it is possible for pets in the U.S. to be seized and sold for debt repayment.
How the Bankruptcy Code Disserves Those Who Have Served
Veterans compensation is complex.Proper representation for veterans will give them the best opportunity for success and might avoid bankruptcy altogether.
Words of Caution for Leveraged Lenders
While economists and policymakers debate over the fragility of the global financial system, one thing is certain: Credit markets remain inundated with low-cost capital looking for gainful returns.
Navigating Banking in Bankruptcy, according to this recent review, is a useful resource to both business and consumer practitioners, as well as banking professionals.
Direct-Payment Defaults Can Forestall Chapter 13 Discharges
Debtors might lose their home or car after stay relief during their case, but they keep making their chapter 13 plan payments, expecting to receive a discharge that might not happen.
OPEC Nations' Struggles Could Impact World Economy
All but two OPEC member nations are on a collision course with financial ruin, and this could potentially impact the world economy.
Think Twice Before Invoking Involuntary Bankruptcy