Home > Insights > Blogs > Credit Report > "bankruptcy-law"

Credit Report

Credit Report

(By accessing, browsing or using the pages below, you agree to the Blog Conditions of Use/Disclaimer available under "Links.")

Posts

Health care provider agreements may be acquired 'free and clear' in bankruptcies

David Farrell October 15, 2019
Piggy Bank sitting on top of a stethoscope

Breaking from the overwhelming majority of prior case law, two bankruptcy courts recently held that Medicare and Medicaid provider agreements can be assigned as part of a Section 363 bankruptcy sale free and clear of the assignor’s liabilities under the provider agreements, including amounts due or that may become due under the Provider Agreement for pre-assignment activities. READ MORE

Possession is not ‘nine tenths of the law’: Impounded vehicles must be returned when a bankruptcy petition is filed

Lauren Newman July 11, 2019
Photo of U.S. Bankruptcy Court plaque on a building

In a recent opinion, the Seventh Circuit ruled the City of Chicago must return repossessed and impounded vehicles upon receiving a bankruptcy petition, or run the risk of violating the automatic stay under Section 362 of the Bankruptcy Code. The decision helps answer whether the City could continue to hold onto a debtor’s vehicle post-bankruptcy filing when the vehicle was repossessed and impounded pre-bankruptcy. READ MORE

Supreme Court decides key trademark licensee issue in bankruptcy

David Warfield May 21, 2019
U.S. Supreme Court

On May 20, 2019, the U.S. Supreme Court ruled a trademark licensee can continue to use the trademark after a bankrupt licensor rejects the license agreement. The ruling removes the risk that a licensor could file bankruptcy and terminate the licensee’s rights to use the trademark. READ MORE

Court allows secured creditor to retain mortgage lien after mistaken release and reinstatement prior to bankruptcy

Lauren Newman March 12, 2019
Exterior of modern office building

If a secured creditor mistakenly releases its lien, it should correct the error as soon as possible. A recent decision from the U.S. Court of Appeals for the Seventh Circuit implies if the secured creditor is diligent, it may not be harmed by the inadvertent release, even if the borrower files for bankruptcy. READ MORE

It may be foul, but there is no harm: Not all mistakes have dire consequences under UCC Article 9

Francis X. Buckley, Jr. March 8, 2019
want-to-recover-attorneys-fees-650x510

While it is important to prepare financing statements clearly and correctly, the policy governing financing statement collateral descriptions under the UCC is meant to be flexible and fundamentally fair. In re 8760 Service Group demonstrates some careless errors can be overcome. READ MORE

In Gouletas, bankruptcy court rules statutes of limitations have limitations

Francis X. Buckley, Jr. February 8, 2019
Parking meter with expired time

In a recent Chicago bankruptcy case, the judge ruled that obligations are not extinguished by statutes of limitation and, even after the expiration of the limitation period, a creditor retains its rights in collateral so long as the underlying debt is enforceable. READ MORE