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Category: Bankruptcy

Bankruptcy Discrimination in Florida

It is axiomatic that the purpose of permitting Bankruptcy of all kinds is to allow the debtor a fresh start.  The United States Supreme Court has recognized that this goal benefits the public as well as the debtor because the debtor receives “a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt.”  Bankruptcy Discrimination Protection It is this overarching goal that Congress was undoubtedly pursuing when it drafted[...]

Executory Contracts in Business Bankruptcy

Business Bankruptcy Business bankruptcy, typically filed under Chapter 11 of the bankruptcy code, present a host of unique issues.   One of those issues is what happens to executory contracts.  What is an executory contract? Even though it has a large statutory section dedicated to them, the Bankruptcy Code does not explicitly define what an executory contract is.  However, courts routinely define such contracts in the same way.  Essentially, an executory contract is one where both parties [...]

Social Media Property Rights in Bankruptcy

Modern technology, particularly the internet and smartphones, has brought with it many new types of property, property that is largely intangible.  Intangible property does not have a physical existence and cannot be touched or moved like a car, painting, or other type of tangible property.  Much of the law has evolved to deal with tangible property so courts are still adapting to how to deal with intangible property in all areas of the law. Earlier this month, one bankruptcy court began to ta[...]

Debtors Win Against Creditor Harassment

Though bankruptcy is often thought of as a negative, it is better thought of as an opportunity to stop creditor harassment.  An opportunity provided by the law because of a belief that sometimes debt can reach a point where it is nearly debilitating and that individuals and businesses can benefit from a fresh start. Perhaps the most stress relieving privilege that bankruptcy grants is the automatic stay.  As discussed in earlier blogs, the automatic stay is an automatic court order preventi[...]

Florida’s Bankruptcy Wildcard Exemption

Most bankruptcy laws are federal and thus, bankruptcy proceedings are relatively uniform throughout the country.  However, one area where states vary is bankruptcy exemptions, property that is excluded or put differently, safe from forced sale during bankruptcy.  Florida’s exemptions include an exemption for “homestead” properties, which was discussed in earlier bankruptcy blogs. Those who do not “claim or receive the benefits of” a homestead exemption, have one unique advantage in [...]

In Florida Bankruptcy Cases, Raise Claims or Lose Them

Florida Bankruptcy Cases In February, the 2nd Circuit handed down an interesting, unpublished Bankruptcy case, In re Residential Capital, LLC that demonstrates just how complicated the intersection between bankruptcy law, foreclosure law, and general civil litigation can get.  Like many Floridians, Stephanie Harris, an individual residing in Miami, Florida had some difficulty paying her mortgage around 2008. Eventually a mortgage foreclosure action was instituted against her by GMAC Mortgage ([...]

Chapter 11 Bankruptcy for Churches: Minneapolis Archdiocese Joins the List

We’ve said it before and we’re likely to say it again: bankruptcy is designed to provide individuals and businesses (whether for profit or non-profit) with a financial fresh start.  And when it comes to occasionally needing a fresh start, no one is immune.  Some of the countries largest companies have at one time or another filed for bankruptcy and even the Catholic Church has found itself in need of the protections offered by bankruptcy. Over the past eleven years, twelve dioceses have f[...]

Bankruptcy Effect on Divorce : No Love Lost

The bankruptcy effect on divorce It’s been said that two things can make ordinarily rationale individuals act crazy: love and money.  It is not surprising then that when bankruptcy and divorce are combined the results  can get, well, interesting.  Such was the case in Morales v. Giddens, an adversarial case arising from the  bankruptcy effect on divorce regarding Christopher Giddens.  Christopher Giddens and Marta Morales divorced in 2008 after ten years of marriage.  The two agreed to a[...]

Awaiting Supreme Court’s Bankruptcy Protection Decision

Bankruptcy Protection The United States Supreme Court is in session and for the second year in a row, it has an important bankruptcy case on its docket, Wellness International Network Ltd. v. Sharif.  As mentioned in an earlier post on Adam Law Group last year, the Supreme Court in Executive Benefits Insurance Agency v. Arkison, 134 S. Ct. 2165 (2014) passed on providing clarification regarding the power of bankruptcy courts to decide issues “stemming from” bankruptcy protection proceeding[...]

Florida Couple Recovers $1 Million for Harassing Phone Calls

FLORIDA COURT AWARDS $1 MILLION TO COUPLE RECEIVING HARASSING PHONE CALLS Anyone that has ever fallen behind on a debt, knows that what usually follows are harassing phone calls, a lot of them, from the creditor or a collection agency on their behalf attempting to obtain payment of the debt.  There’s a fine line between taking reasonable efforts to collect a debt and engaging in harassment.  Consumer protection laws, like the Fair Debt Collection Practices Act and others, seek to ensure tha[...]