ABA Journal

Bankruptcy Law

1137 ABA Journal Bankruptcy Law articles.

Judge approves Purdue Pharma bankruptcy plan that provides immunity to Sackler family members

A federal bankruptcy judge conditionally approved on Wednesday a settlement that dissolves Purdue Pharma and directs the company’s owners, members of the Sackler family, to turn over $4.5 billion through roughly the next decade.

LeClairRyan bankruptcy trustee targets firm co-founder, compares firm to movie ‘Weekend at Bernie’s’

LeClairRyan’s bankruptcy trustee has added claims against firm co-founder and former CEO Gary LeClair in an amended complaint filed Wednesday.

‘Undue hardship’ is too strict a standard to discharge student loans in bankruptcy, ABA argues

The House of Delegates passed a resolution at the ABA Hybrid Annual Meeting on Tuesday urging Congress to amend the U.S. Bankruptcy Code to allow borrowers to discharge student loans without proving that repayment of the debt imposes an “undue hardship” on them or their dependents.

Police want to speak with disgruntled client after divorce lawyer is killed

Police are investigating the killing of a New York divorce lawyer found dead in his New York City office Thursday.

Bipartisan bill would make it easier to discharge federal student loans in bankruptcy after waiting period

A bipartisan bill unveiled Tuesday would make it easier to discharge federal student loans in bankruptcy after a 10-year waiting period.

Former LeClairRyan general counsel pleads guilty to obstructing probe of financial misconduct

The former general counsel for the defunct law firm LeClairRyan has pleaded guilty to obstructing an official proceeding for trying to thwart an investigation into his misconduct as a bankruptcy trustee.

How one bankruptcy software company had a banner year despite filings hitting a low

When COVID-19 began hitting the United States hard last year, Janine Sickmeyer was among those in the bankruptcy world who thought that there would be a tsunami of cases. But contrary to the prognostications of many, the influx never materialized.

Lawyer finds two words that doom billion-dollar case

A lawyer with a BigLaw firm was able to thwart a billion-dollar qui tam case against the Lennar Corp. when she found a California real estate developer’s name on a change-of-counsel form.

2nd Circuit says private student loans can be discharged in bankruptcy

Privately issued student loans may be discharged in bankruptcy, a federal appeals court has ruled.

Afternoon Briefs: US lawyer sentenced in Hong Kong tussle; Air Force at fault in mass shooting

US lawyer in Hong Kong sentenced to prison

Samuel Bickett, a U.S. lawyer in Hong Kong, has been sentenced to four months and two weeks in jail for intervening

Afternoon Briefs: Boy Scouts of America agrees to $850M settlement; 1st Circuit rejects ERA suit

Boy Scouts of America strikes $850M deal

The Boy Scouts of America has agreed to pay $850 million to settle sex abuse claims by about 60,000 people. The group says…

Disbarred lawyer can’t discharge debt he owes state bar for client losses, bankruptcy judge says

A disbarred California lawyer can’t use a bankruptcy to discharge more than $2 million in debt that is owed to a fund used to reimburse his former clients, a federal bankruptcy judge has ruled.

Jurors are told former law firm partner created sham creditor to help client shield assets

Did a former Freeborn & Peters partner create a sham creditor to help his client shield assets in a bankruptcy? Or did he engage in a legitimate legal strategy to try to save a struggling business and help out a neighbor?

Suit claims law firm leader began firings after complaining about employees’ support for Trump

A lawsuit filed in Minnesota state court has alleged that the leader of a law firm ordered the firing of two employees for supporting former President Donald Trump and then ousted three partners who told him that his actions violated state law.

Lawyer described as ‘Don Quixote of student debt’ relief decides to run for Congress

A lawyer who has been pursuing relief for student borrowers in bankruptcy court has decided to run for Congress in 2022 on a platform that includes reforming rules for cancellation of such debt.

Read more ...