Quantcast

Tag Archives: Bankruptcy

New law makes Ch. 11 bankruptcy easier for small businesses (access required)

bankruptcy-petition_fea

Chapter 11 bankruptcies will be easier for businesses with smaller debt loads under a new law that takes effect in February. In August, President Donald Trump signed the Small Business Reorganization Act of 2019. Sponsored by Rep. Ben Cline, R-Va., ...

Read More »

Sanctions on bankruptcy firm, lawyers are upheld (access required)

Firm_FEA

A Roanoke federal judge has upheld penalties against two Virginia lawyers who teamed up with a short-lived, Chicago-based national bankruptcy firm accused of high-pressure sales tactics and litigation misconduct. U.S District Judge Michael F. Urbanski refused to undo $5,000 sanctions ...

Read More »

Lender cannot force debtor’s usury claims into arbitration (access required)

Where the debtor alleged a lender was violating Virginia’s usury and consumer finance laws, those were “constitutionally core” claims over which the bankruptcy court could retain jurisdiction. Referring those claims to arbitration would defeat the purpose of the Bankruptcy Code ...

Read More »

Trustee’s interpretation of settlement agreement affirmed (access required)

Where a settlement agreement was clear and unambiguous and not reasonably susceptible to the interpretation urged by one of the parties, the bankruptcy court’s decision, which adopted the interpretation urged by the trustee, was affirmed. Background This case concerns the ...

Read More »