ITT Chapter 7 bankruptcy fallout
The student records are only one aspect of this bankruptcy. There are employee records, pension benefits, 401(k) retirement funds plus lawsuits previously filed by federal agencies and some states’ attorneys general.
Bankruptcy Law
Articles
EPA objects to Vertellus Specialties acquisition plan
Indianapolis-based chemical company Vertellus Specialties Inc. is at odds with the U.S. Environmental Protection Agency over whether its proposed sale would provide adequate resources to address environmental cleanup needs at Vertellus-owned sites in Indiana and elsewhere.
Majority: Attempt to collect stale debt not deceptive
The 7th Circuit Court of Appeals was divided Wednesday over whether debt collectors violated the Fair Debt Collection Practices Act when they attempted to collect stale debts in Chapter 13 bankruptcy proceedings.
High court rules against Puerto Rico in debt case
Puerto Rico can't use a local law to restructure the debt of its financially ailing public utilities as it tries to overcome a decade-long economic crisis, the U.S. Supreme Court ruled Monday.
As Koch brothers cling to Madoff cash, a new legal battle arises
Billionaire brothers Charles and David Koch have made plenty of good business decisions over the years. Placing millions of dollars with Ponzi-scheme mastermind Bernard Madoff may have been one of them.
Attorneys, courts feel drop in bankruptcy filings
Bankruptcy attorney Mark S. Zuckerberg recently described the current state of his practice: “Nobody’s coming into my office; nobody’s calling me; nobody’s paying me.” His loneliness can be tied to the drop in bankruptcy filings. In 2015, petitions nationally fell to 860,182, an 11 percent decline from 2014 and the lowest number of filings since 2007.
ILS awarded grant to help northern Hoosiers
Indiana Legal Services Inc. has received a $10,000 award to help families in the northern part of the state with bankruptcy filings.
Bankruptcy cases drop in 2014, repeat filings rise
Individual consumer debt bankruptcy petitions declined in 2014, but for a significant number of people, this wasn’t the first time they’d filed for bankruptcy in the last eight years.
High court rules against law firm in bankruptcy fee fight
The Supreme Court of the United States ruled Monday that one of the nation’s biggest law firms is not entitled to recover $5.2 million in legal fees it incurred in the course of a bankruptcy proceeding.
Bankruptcy lawyer’s unruly conduct draws warning
A Terre Haute lawyer’s behavior at a bankruptcy court proceeding last week so alarmed parties involved that U.S. marshals were called, according to an order warning he could face discipline for his conduct.
Moberly to become chief bankruptcy judge Aug. 1
Judge Robyn L. Moberly, in the United States Bankruptcy Court for the Southern District of Indiana, has been appointed to replace Judge James K. Coachys as the court's chief judge. Coachys is retiring Sept. 30.
Kokomo lawyer skips town, leaving ‘mess’ behind
A Kokomo lawyer’s sudden abandonment of his law practice has left the local legal community scrambling to clean up a mess involving scores of ripped-off clients, some of whom learned of their attorney’s disappearance when they showed up for court dates and he didn’t.
Surrogate: Clients lost fees paid to attorney who fled
As many as 80 clients of a Kokomo attorney may have pre-paid for bankruptcy petitions that the attorney failed to file before leaving the country, according to the lawyer appointed to wind down the practice.
Bankruptcy Court revises Chapter 13 plan model form
The Bankruptcy Court for the Southern District of Indiana will require use of a revised Chapter 13 plan model form after Aug. 15, pursuant to Local Rule B-3015-1. The form is available on the court’s website and may be used immediately.
Southern District Bankruptcy Court to cease certain Chapter 13 notices
The Bankruptcy Court for the Southern District of Indiana will no longer issue notices of impending closure without discharge in Chapter 13 cases.
Moberly’s official swearing-in ceremony Friday
United States Bankruptcy Judge Robyn L. Moberly will be formally sworn-in at a ceremony Friday at the Birch Bayh Federal Building and U.S. Courthouse in Indianapolis.
Bankruptcy ruling locks out insiders
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.
Bankruptcy judge warns of impact of ‘fiscal cliff’
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.
Indianapolis accounting firm settles with Fair Finance trustee
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.
Bankruptcy local rules to change Dec. 3
Five local rules of the U.S. Bankruptcy Court for the Southern District of Indiana will be amended effective Dec. 3.