While it may be said that the greatest wealth is to live content with little, this idea may be small consolation to the growing population of elderly Americans filing for personal bankruptcy.

Tagged with: Bankruptcy

The plaintiff-supplier makes no allegation that it was treated any differently than other unsecured creditors of the now-bankrupt corporation. Rather, plaintiff alleges that the defendant-directors preferentially paid off the corporation’s secured obligations that were secured by the directors. Since none ...

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North Carolina-based Creative Recycling Systems recently played a role in a lawsuit brought over antiquated computer monitors and cathode ray tube television sets. According to an Aiken Standard article, the lawsuit was brought by Carolina Pines LLC, which owned a ...

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WITHDRAWN The parties owned fractional shares of different aircraft pursuant to a program formerly operated by the now-bankrupt Avantair, Inc. Since the governing documents allowed Avantair to move engines from one plane to another, defendants are not entitled to have ...

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The Eastern District of Virginia’s Local Bankruptcy Rule 3070-1(C), which allows for dismissal without hearing, conflicts with the requirements of 11 U.S.C. § 1307. Background In January 2017, the Eastern District’s bankruptcy trustee certified under Local Bankruptcy Rule 3070-1(C) that ...

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Debtors who moved from Louisiana to West Virginia could apply Louisiana bankruptcy exemptions to property located in West Virginia, because federal law allowed the debtors to choose a state exemption scheme, and Louisiana law is not limited to in-state property. ...

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Wells Fargo Bank NA v. AMH Roman Two NC LLC (Lawyers Weekly No. 001-135-17, 15 pp.) (Duncan, J.) No. 16-1681, June 12, 2017; USDC at Raleigh, N.C. (Boyle, J.) 4th Cir. Holding: The 4th Circuit says a bankruptcy court did ...

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Barnhill v. FirstPoint, Inc. (Lawyers Weekly No. 003-010-17, 19 pp.) (Loretta Biggs, J.) 1:15-cv-00892; M.D.N.C. Holding: Plaintiff alleges that (1) despite the fact that she had a debt discharged in bankruptcy, defendants contacted her by phone and represented that she ...

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Blue Cross Blue Shield of North Carolina v. Jemsek Clinic (Lawyers Weekly No. 001-057-17, 17 pp.) (Motz, J.) No. 16-1030, March 3, 2017; USBC at Charlotte, N.C. (Conrad, J.) 4th Cir. Holding: The 4th Circuit vacates a bankruptcy court’s “staggering ...

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Bank of the Ozarks v. Kings Mountain Properties, LLC (Lawyers Weekly No. 012-037-17, 16 pp.) (Robert Hunter Jr., J.) Appealed from Mecklenburg County Superior Court (Hugh Lewis, J.) N.C. App. Unpub. Holding: During defendant Kings Mountain’s bankruptcy case, the parties ...

Tagged with: Bankruptcy