So-called "covenant-lite loans" have an average default rate of just 1.3 percent for leveraged loans since 2011 — but we all remember how quickly that can change.
Most Recent Flipbooks
A Primer on the Chapter 15 Global Chess Game
This article provides a base level of familiarity through a brief discussion of recent cases addressing debtor eligibility and foreign case recognition concepts under chapter 15.
When a Seized Vehicle Is Returned to the Chapter 13 Debtor
One of the significant unresolved issues in consumer bankruptcy law is the right of a chapter 13 debtor to obtain the return of a vehicle seized before the bankruptcy was filed.
Are Tiered Chapter 13 Plans Permitted by the Bankruptcy Code?
Does the Bankruptcy Code permit tiered chapter 13 plans? Bankruptcy courts are divided, and even courts within the same federal districts have reached different results.
Chapter 11's New Hidden Cost
The landscape of the restructuring process under chapter 11 has undergone substantial changes in recent years, rendering rare what was once perceived as the “traditional reorganization case.”
Tax Cuts and Jobs Act and Bankruptcy Estate Taxes
The Tax Cuts and Jobs Act is the largest tax law overhaul since 1986, and trustees, debtors and their professionals should be aware of how these changes might affect bankruptcy estates.
The Challenge of the New Farm Crisis
Rising interest rates coupled with reduced income and increased debt suggests that some farmers might not be able to repay debt in future years.
Have We Hit Another Energy Downturn?
With U.S. oil production soaring to an all-time high and WTI crude plunging to its lowest closing price since mid-2017, it is time to consider whether another energy downturn has begun — or resumed.
When Consumers Are Too Broke for a Fresh Start
The fresh start is a powerful poverty-fighting tool. However, over the last decade, chapter 7’s fresh start has become steadily less accessible for low-income Americans.
When Songwriter Publishing Agreements Are Rejected in Bankruptcy
This article examines what happens to the writer’s share when a songwriter files for bankruptcy and rejects his/her publishing agreement.
World of Key Employee Compensation
An organization in chapter 11 should implement an alternative-compensation arrangement to retain key executive talent and incentivize them so that the company can successfully restructure.
Best Practices for Chapter 7 Filing Fee Waivers
Fee-waiver and installment-payment requests in individual chapter 7 cases are on the rise, putting increasing pressure on the budgets of the courts and chapter 7 trustees.
Consumer Bankruptcy Through the Eyes of an Athlete
Celebrities’ financial woes are often headline-grabbing sound bites, but the news stories are often slim on details as to how — if at all — the celebrity recovers from his/her financial troubles.
Health Care Bankruptcies from the Government's Perspective
Health care bankruptcies impose life-and-death consequences on the public at large, prompting the U.S. Trustee and state and federal entities to take a more active posture in order to fill this void.
Creative Discharge Solution to the Student Loan Crisis
Individuals with student loan debt face an uphill battle in bankruptcy, but a recent case shows that courts might be increasingly willing to relax the standard to discharge governmental student loans.
Addressing Low-Income Access to Bankruptcy
Paying for an attorney is simply not possible for many who need the benefits of the Bankruptcy Code. Fortunately, there are a number of resources that the bankruptcy courts can look to for new ideas.
Prepacks Now Account for Most Reorganizations
There’s not much that’s new or novel about prepackaged, pre-negotiated and pre-arranged bankruptcy filings in recent years, except their growing numbers — and that is a story in itself.
Excluding Veterans' Benefits from Current Monthly Income
While the Code excludes Social Security benefits from the definition of “current monthly income," it provides no comparable exclusions for veterans' benefits — presenting a hardship for some veterans.
Deceased Debtor's Estate Can Obtain Chapter 13 Discharge
What happens if a debtor dies during the life of his or her chapter 13 plan? This can be a perplexing dilemma for the attorney regarding his/her obligations to the client.
The Ethics of Coming Clean on Your Legal Mistakes
ABA's Formal Opinion 481 says that a lawyer must inform the client of material errors in the client's representation. But is it really necessary to report every single “oops”?
Problematic Consumer Debtor Attorneys' Fee Arrangements