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, and spent over $135,000 of the funds.

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 Chapter 13 Trustees. She is a frequent speaker and published author, and she has been honored on the Crain Detroit Business “Women to Watch” list and by DBusiness Magazine as a “Top Lawyer” since the award’s inception. Trott Law is a member of the Legal League 100, a nationwide consortium comprised of 100 default servicing and financial services law firms providing a results-driven, go-to resource for the industry’s decision makers. Marcy recently spoke with DS News about the issues…

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 absolutely no idea what to do with all of your money. In this particular instance, Hammer had the posses, the homes, cars, and all the other glitz many celebrities have. The issue is that he spent way more than he should have and got in hot water for it. 2. Michael Jackson Though he never filed bankruptcy, The King of Pop had a well-documented struggle with debt. Sources say Jackson…

As of February 18, 2015, the debtors have filed their brief in the consolidated Supreme Court cases of Bank of Amer. v. Toledo-Cardona, No. 14-163 and Bank of Amer. v. Caulkett, No. 13-1421 (filed Feb. 17, 2014), addressing the issue of whether a wholly unsecured lien can be stripped off in chapter 7. In McNeal v. GMAC Mortg., 735 F.3d 1263 (11th Cir. 2012)cert. pet. den. (S.Ct. May 20, 2014), the Appellate Court upheld the stripping of wholly unsecured liens. The McNeal Court’s holding was in contract to that in Dewsnup v. Timm, 502 U.S. 410 (1992), which held that a partially secured lien could not be stripped-down in chapter 7. In Toledo-Cardona and Caulkett, the debtors argue that McNeal was correctly decided. Dewsnup was explicitly limited to its facts and the Supreme Court’s instruction inNobelman v. Am. Sav. Bank,…

As reported by Robin Miller of CBAR, a bankruptcy court’s decision regarding an award of attorney’s fees is reviewed for an abuse of discretion. In re Boddy, 950 F.2d 334 (6th Cir. 1991). An abuse of discretion occurs where the bankruptcy court “relied upon clearly erroneous findings of fact, improperly applied the governing law or used an erroneous legal standard.” In re Williams, 357 B.R. 434 (6th Cir. B.A.P. 2007). An abuse of discretion is defined as a “definite and firm conviction that the [court below] committed a clear error of judgment.” The question is not how the reviewing court would have ruled, but rather whether a reasonable person could agree with the bankruptcy court’s decision; if reasonable persons could differ as to the issue,…