The successful reorganization of Asarco LLC, whose creditors were paid in full, presents the U.S. Supreme Court with an opportunity to rule on an issue dear to all bankruptcy lawyers: Can a bankruptcy court award compensation for successfully defending fee requests?

Tagged with: Bankruptcy Law

The Supreme Court is set to rule in a case that could clarify the limits - if any - on what bankruptcy attorneys can advertise and even the advice they can give clients.

Tagged with: Bankruptcy Law U.S. Supreme Court

What lawyer, faced with the wallet-gouging bills that will continue through most of his career, hasn't secretly wanted to make his student loans disappear? Mark Allen Jesperson very much wanted his more than $360,000 law school debt to go away, particularly given his lackluster law career. He convinced a Minnesota bankruptcy court, and the U.S. district court that reviewed it, that paying the debt would be an "undue hardship" - the only way federal law allows people to escape their student loans.

Tagged with: Bankruptcy Law

When did the Supreme Court get in the bankruptcy business? While I guess I can remember reading some things about the court determining statutory construction issues and definitely some conflicts of laws question, I don’t remember hearing of another time ...

Tagged with: Bankruptcy Law Chrysler U.S. Supreme Court

The U.S. Supreme Court will decide the constitutionality of a provision in the 2005 bankruptcy law overhaul that bars lawyers from advising clients to incur more debt before filing for protection. The justices on Monday said they will hear the ...

Tagged with: Bankruptcy Law U.S. Supreme Court

As you may have noticed, these aren’t especially happy times for those used to the good life or those who merely get by. New York’s Rainbow Room is shutting down after 74 years as the dining room of the glamorous ...

Tagged with: Bankruptcy Law bankruptcy legal advice Barack Obama Gregg Galardi Kirkland & Ellis Lehman Brothers Holdings Inc. Wall Street bonuses

It is fascinating to watch the powerful fall to the rule of the people. No better example is Citigroup’s capitulation to Sen. Charles Schumer regarding his initiative to revise the U.S. bankruptcy law as a way to stop the bleeding ...

Tagged with: Bankruptcy Law Charles Schumer Citigroup

Suspicious investors who removed their money from Bernard Madoff’s care before he pulled the bottom out from under his scheme have probably been congratulating themselves for their wisdom. Even those who recouped their principal only to plunge it into the ...

Tagged with: Bankruptcy Law Bernard Madoff commercial law investors Jay Westbrook scheme stock market trustee University of Texas