May 22, 2012

9th Circuit Panel: Creditor Not Entitled To Money From Sale Of Debtor’s House

SAN FRANCISCO - A panel of the Ninth Circuit U.S. Court of Appeals on Oct. 29 affirmed a lower court's ruling that a creditor was not permitted to sue a trustee for his distribution of proceeds gained through the sale of a debtor's house because the creditor lacked standing (Mel M. Marin v. Randall P. Sanders [In Re: Milivoj Marinkovic], No. 08-17273, Chapter 11, 9th Cir.; 2009 U.S. App. LEXIS 23880). 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...]