As reported by the ABI Fifteen former students announced on Monday that they’d had enough of their student loan debt debacle and were going on a “debt strike” until the government canceled their student loans, Bloomberg News reported yesterday. The “Corinthian 15” took out federal loans to attend colleges run by Corinthian Colleges, a for-profit…

Yes. As reported by Valerie P. Morrison and Dylan G. Trache of Nelson Mullins Riley and Scarborough LLP (Washington, D.C.) in the ABI Bankruptcy Brief, the Supreme Court yesterday heard oral argument in the case of Baker Botts LLP, et al. v. Asarco LLC. The issue before the Court is whether bankruptcy judges have discretion…

Yes. A Bankruptcy judge in CD of Illinois revoked the Chapter 7 debtor’s discharge pursuant to 11 U.S.C.S. § 727(d)(2) because the debtor knowingly and fraudulently took possession of proceeds from a $150,000 EEOC award, failed both to notify the Trustee that the funds had arrived and to turn the funds over to the Trustee as required,…

As reported by Marcy Ford, Managing Partner of Trott Law PC: Marcy Ford is a managing partner and EVP of Bankruptcy and Firm Operations with Detroit-based Trott Law P.C. She is a member of the State Bar of Michigan, the Federal Bar Association, the Oakland County Bar Association, the American Bankruptcy Institute, and the National Association of…

Yes. In the WD of NC, a Bankruptcy judge held that a State court judgment based on willful and malicious injury to business partner through dissolution of company that caused shares to become worthless was nondischargeable. 11 USC 523(a)(6)

As posted in Entertainment by Nat Berman, here it the list: 1. MC Hammer The flamboyant musician earned $33 million in the early 1990s, but quickly blew all his cash, aided in part by his purchase of two private helicopters. It’s not easy when you’re in your 20s, have an amazingly successful album and have…