May 22, 2012

9th Circuit: Debtor Showed Bad Faith By Omitting Asset From Schedules

SAN FRANCISCO - A panel of the Ninth Circuit U.S Court of Appeals on Nov. 24 affirmed a district court ruling, which held that a debtor's legal malpractice claim against a law firm that sued him for bad faith failed because he didn't list a business interest in his bankruptcy schedules (Holland & Knight v. Alan DeAtley, No. 08-35814, Chapter 7, 9th Cir.; 2009 U.S. App. LEXIS 25755). Full story on lexis.com

Medical Bankruptcy

Consumer Debt Rose $21 Billion Last Month Thanks to Credit Card Use

The total amount of consumer credit circulating in the United States rose by more than $21 billion last month, raising concerns that more people … [Read More...]

ResCap Files For Bankruptcy, Eyes Paying Back Taxpayer Bailout Money

Ally Financial Inc’s mortgage unit, named Residential Capital (ResCap for short), filed for bankruptcy on Monday, according to Reuters. Ally … [Read More...]