Property of the Estate focuses on developments in Plaintiff-Oriented Bankruptcy Litigation. This blog is published by Rochelle, Hutcheson, & McCullough, LLP, a bankruptcy and litigation boutique located in Texas, with offices in both Dallas and Plano.
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Bloomberg has a story about $18.50 per minute legal services in some of the larger bankruptcies currently on file. For those as bad at math as me, that is over $1000 an hour. Nice work if you can get it. The story does point out that there is an avenue to object to unreasonable or...
Jeez. It's 2009 already. Time to get moving on blogging for the bankruptcy litigation folks out there. I suspect there will be plenty to keep us all busy this year (and the coming years, sadly). Check back for more updates in the coming days and weeks. One...
On September 9, 2008, the United States Court of Appeals for the Third Circuit issued an opinion in Thabault v. Chait & PriceWaterhouseCoopers, LLP, 2008 U.S. App. LEXIS 19227. The opinion is an interesting read for a number of reasons, but I want to focus on only one portion of...
On May 5, 2008, the United States District Court for the Southern District of New York issued an interesting opinion in Adelphia Recovery Trust v. Bank of America, N.A., 2008 U.S. Dist. LEXIS 36553 (S.D.N.Y. May 5, 2008). This opinion is written in response to a Motion for Reconsideration and...
Freddie Mac reported a large loss yesterday, but it was a loss that was smaller than expected. Good news, right? Well, maybe not. Apparently, the losses were smaller than expected "because of accounting tactics that minimized the impact of bad loans." But here is...
A common defense that virtually every bankruptcy trustee or receiver must deal with when suing culpable third parties is the affirmative defense of in pari delicto. The Southern District of Georgia recently issued an opinion dealing with the defense in the context of a Chapter 11 bankruptcy...
My partner, Scott DeWolf, sent me this link the other day and I've been traveling and have not had time to stick it up on the blog. It is an interesting news story (now a week old) picking up the comments of Joseph Stiglitz, a Columbia University professor and 2001 Nobel Laureate. In...
Sallie Mae's chief executive announced today that the student lender would still retain some "core" profits in 2008, but that new loans would likely be made at a loss. He also indicated that Sallie Mae had been predicting a crisis in the $85 billion student loan market for some...
In a recent post here, Francis G.X. Pileggi of the Delaware Corporate and Commercial Litigation Blog highlights the District of Delaware's decision in Miller v. Mcdonald, et al., Adv. Proc. No. 07-51350 (In re World Health Alternatives, Inc., Bankr. Case No. 06-10166) (April 9, 2008). I...
Another airline, Frontier, filed bankruptcy today in New York. You can see the Associated Press story here. That makes four airlines in the past several weeks: Frontier, Skybus, Aloha Airgroup and ATA Airlines. It looks like turbulence is ahead this summer for the...