Bankruptcy Law

Bankruptcy ruling locks out insiders

February 27, 2013
Dave Stafford
A recent bankruptcy appeal tossing an Indianapolis shopping center’s reorganization plan further establishes that the control of equity in Chapter 11 cases will be subject to competitive bidding and that insiders might be out of luck.
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Bankruptcy judge warns of impact of ‘fiscal cliff’

December 12, 2012
Jennifer Nelson
Chief Judge James K. Coachys in the U.S. Bankruptcy Court for the Southern District of Indiana sent a memo to the Indiana State Bar Association Wednesday explaining how budget cuts and the potential “fiscal cliff” have affected the court.
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Indianapolis accounting firm settles with Fair Finance trustee

November 1, 2012
Kathleen McLaughlin
Somerset CPAs P.C. will pay $500,000 to settle litigation brought by the bankruptcy trustee of Fair Finance Co., the Ohio-based firm convicted financier Tim Durham used to conduct a major Ponzi scheme.
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Bankruptcy local rules to change Dec. 3

October 18, 2012
IL Staff
Five local rules of the U.S. Bankruptcy Court for the Southern District of Indiana will be amended effective Dec. 3.
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Bankruptcy Court amends some rules, seeks comment on others

August 30, 2012
Jennifer Nelson
The judges in U.S. Bankruptcy Court in the Southern District of Indiana have amended local bankruptcy rules, with the changes taking effect Oct. 1. The court is also considering the addition of five local rules.
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Bankruptcy court issues order on maximum fee for Chapter 13 cases

May 15, 2012
IL Staff
The United States Bankruptcy Court, Southern District of Indiana Chief Bankruptcy Judge Anthony J. Metz III signed an order Tuesday changing the maximum fee allowable under Local Rule B-2016-1(b).
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Bankruptcy Court creating mediator panel

April 11, 2012
IL Staff
The U.S. Bankruptcy Court in the Southern District of Indiana is developing a panel of attorneys who want to serve as mediators pursuant to Local Rule B-9012-2. The panel is intended to make alternative dispute resolution more available for cases where this type of mechanism will be appropriate.
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On watch for scams

February 29, 2012
Michael Hoskins
Attorneys see a rise in the amount of fraudulent notices clients receive.
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Bankruptcy discharge pushed for school debt

February 29, 2012
Jenny Montgomery
Delinquent borrowers may be relieved to learn that student loan default – unlike espionage and treason – is not punishable by death. But defaulting on a student loan can have disastrous effects on a borrower’s personal credit and lead to a lifetime of financial difficulties.
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Bankruptcy filings down in 2011

January 18, 2012
Kathleen McLaughlin
Attorneys says the drop in mortgage foreclosures and sales impacted filings.
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SCOTUS takes Arizona immigration case, 7th Circuit bankruptcy case

December 12, 2011
Michael Hoskins
The Supreme Court of the United States has accepted several cases, including the high-profile Arizona immigration lawsuit and a bankruptcy case from the 7th Circuit Court of Appeals.
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Bankruptcy judge applications being accepted

December 8, 2011
IL Staff
The Judicial Council of the 7th Circuit is seeking applications for bankruptcy judge to fill a new position in the U.S. District Court for the Southern District of Indiana.
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Changes to federal courts effective Thursday

November 30, 2011
IL Staff
Several changes are coming to the United States Bankruptcy Court for the Southern District of Indiana and the U.S. District Court in the Northern District of Indiana Thursday.
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Justices suspend Logansport lawyer for 1 year

November 15, 2011
Michael Hoskins
The Indiana Supreme Court suspended a Logansport attorney for one year because he routinely allowed his secretary to prepare and sign his name on bankruptcy petitions and other court documents, including one petition that she mistakenly filed in the wrong District.
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Indiana bankruptcy filings decrease in 2011

November 8, 2011
Michael Hoskins
Indiana saw fewer bankruptcies for the fiscal year ending Sept. 30, 2011, than it did the year before, with the state improving its national ranking based on case filings.
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Bankruptcy courts amend local rules

November 2, 2011
IL Staff
The United States Bankruptcy Court for the Northern District of Indiana has adopted revisions to Local Rule B-1009-1. The United States Bankruptcy Court for the Southern District of Indiana has amended its Local Rule B-3007-1.
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Bankruptcy Court seeks comment on rule changes

September 1, 2011
IL Staff
The United States Bankruptcy Court for the Southern District of Indiana is now accepting comments on proposed amendments to its local rules.
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Bankruptcy filings drop

August 5, 2011
IL Staff
The number of people filing for bankruptcy around the United States has decreased as compared to the same time last year, according to the Administrative Office of the U.S. Courts.
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Ex-mayor argues $108 million judgment can be discharged in bankruptcy

July 22, 2011
Michael Hoskins
The ex-East Chicago mayor hit with a $108 million racketeering judgment because of public corruption wants a federal bankruptcy court to dismiss a civil complaint against him that questions whether the judgment is dischargeable under bankruptcy code.
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Bankruptcy courts amend local rules, seek comment

May 25, 2011
IL Staff
The United States Bankruptcy Court in the Southern District of Indiana has amended several local rules. In the Northern District, the Bankruptcy Court seeks comment on a proposed rule change.
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Bankruptcy Court seeks public comment

May 23, 2011
IL Staff
The United States Bankruptcy Court for the Northern District of Indiana is seeking public comment concerning proposed changes to the court’s local rules. The changes involve the rule, B-2014-1, Employment of Professionals by Debtor-in-Possession.
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Indianapolis lawyer is trustee on multi-state livestock bankruptcy case

March 16, 2011
Michael Hoskins
Before taking on a livestock bankruptcy case stretching into multiple states and encompassing millions of dollars, Indianapolis attorney James Knauer hadn’t had much exposure to the cattle industry.
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No bankruptcy abuse by ex-mayor

March 16, 2011
Michael Hoskins
Reversing her earlier decision, U.S. Bankruptcy Trustee Nancy Gargula in the Northern District of Indiana determined March 7 that former East Chicago Mayor Robert Pastrick’s income is not too high to qualify for Chapter 7 bankruptcy and his filing should not be considered to be an abuse of the process.
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Bankruptcy filings ease slightly in Indiana

March 1, 2011
Scott Olson
Total bankruptcy filings in the Southern District of Indiana ticked down last year. Business bankruptcies in Indiana dropped 3.2 percent.
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Southern District bankruptcy judge seeks reappointment

January 3, 2011
Michael Hoskins
After 14 years on the federal bankruptcy bench, U.S. Judge Anthony J. Metz III in the Southern District of Indiana is seeking another term.
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