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Bankruptcy

Georgia Bankruptcy Blog

Scott Riddle graduated from The University of North Carolina at Chapel Hill with a BSBA in 1987 and received his JD, with honors, in 1991.
By Scott Riddle

Post Frequency: 1.9/day

Last Entry: June 16, 2020 at 14:26:59

Delaware Chancery Court: Automatic Stay Does Not Apply To Order Compelling Shareholder Meeting

Posted on January 22, 2008
The Delaware Corporate and Commercial Litigation Blog discusses the case of Fogel v. U.S. Energy Systems, Inc., 2008 WL 151857 (Del. Ch., Jan. 15, 2007) - The Chancery Court cited to a decision of the U.S. Court of Appeals for the Second Circuit--which in turn relied on a Delaware Supreme Court decision, that asserted the "well-settled rule that the right to compel a shareholders' meeting for the purpose of electing a new board subsists during reorganization proceedings...

US Supreme Court Decides Stoneridge Investment Partners v. Scientifc-Atlanta; Limits Investor Fraud Lawsuits

Posted on January 17, 2008
By: Scott B. Riddle, Esq. This is not a bankruptcy case, but it will be applicable in many large bankruptcy cases involving allegations of fraud by shareholders or investors.On January 15, 2008, the United States Supreme Court entered an important decision in Stoneridge Investment Partners v...

Disgraced Former Durham Prosecutor Mike Nifong Files Bankruptcy Petition

Posted on January 16, 2008
The Raleigh News & Observer story, by staff writers Anne Blythe and Matt Dees, is here. You can download a copy of the 80 page petition and schedules by clicking here. Mike Nifong, the fallen district attorney who lost his job and his career over his zealous prosecution of the Duke lacrosse case, filed for bankruptcy protection Tuesday in federal court, a move described by one legal expert as "throwing in the towel...

Upcoming Speaking Engagement - Creditors' Claims In Chapter 7 Cases

Posted on January 15, 2008
On February 28, 2008, I will be speaking at the "Chapter 7 and Chapter 13 Basics" seminar sponsored by HalfMoon Seminars. The course description is found here and the brochure is here. My topic will be Creditors’ Claims in Chapter 7, including - Treatment of secured and unsecured claims Filing claims Cooperating with the trustee Effect of the automatic stay Determining dischargeability I will also discuss the recent cases concerning an unsecured creditor's right to include post-petition attorneys fees as part of its claim...

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9th Circuit BAP - Following US Supreme Court Opinion In Travelers, Unsecured Creditors Can Recover Post-Petition Attorneys Fees

Posted on January 15, 2008
In a prior post, I discussed the Supreme Court case Travelers Casualty & Surety v. Pacific Gas & Electric (05-1429), (opinion available here) wherein the Supreme Court reversed the Ninth Circuit and held that the Bankruptcy Code does not forbid a claim for attorneys fees where such fees are provided for in a contract, even where the fees were generated in litigating Bankruptcy issues...

Southeastern Bankruptcy Law Institute 2008 On April 3-5, 2008

Posted on January 12, 2008
The 2008 edition of the Southeastern Bankruptcy Law Institute is coming up on April 3-5, 2008. For CLE procrastinators, than means it comes just after the March 2008 deadline for making up 2007 hours (but the 19.4 Georgia hours takes care of 1...

NDGa - Misc. Consumer Cases: Means Test, Automatic Stay, Disqualification of Judge, Preferential Transfers

Posted on January 12, 2008
In re McDaniel, No. 06-62786, 2007 Bankr. LEXIS 3390 (August 24, 007)(CRM). The United States Trustee filed a motion to dismiss under §707(b)(2) and (b)(3) based on presumption of abuse and totality of circumstances. The Court held that 1) the debtor could deduct secured debt payments on the means test even where he intended on surrendering the collateral (this included payments for rental properties owned by the debtor), 2) The debtor could not take the ownership deduction for a vehicle that was not leased or subject to a secured claim, and 3) the totality of circumstances did not support dismissal after the court considered a child on the way...

City Of Cleveland Sues 21 Banks Over Foreclosures

Posted on January 11, 2008
From the AP (via CNN) -- The city of Cleveland, an epicenter of the U.S.'s home foreclosure crisis, has sued 21 banks, claiming subprime mortgage lending in inner-city neighborhoods has created a public nuisance that hurt property values and city tax collections...

Bank of America To Buy Countrywide?

Posted on January 10, 2008
January 11 Edit - Looks like a done deal. Bank of America agrees to purchase Countrywide for $4 bilion. It will beinteresting to see where this goes in the coming months and years. Theoretically, based on the price, it could turn out to be a goldmine for BofA down the road...

Downloadable Forms

Posted on January 10, 2008
The following forms are available for download.Small Business Worksheets Full Worksheet in Word Format.Full Worksheet in Adobe Acrobat (pdf) Format. Individual Bankruptcy Worksheets:Full Worksheet in Word Format (revised January 2008)Full Worksheet in Adobe Acrobat (...

Can A City Sue A Mortgage Lender For Indirect Or Secondary Damages From Predatory Or Discriminatory Subprime Lending?

Posted on January 09, 2008
The City of Baltimore thinks so, and has filed a lawsuit against Wells Fargo. Baltimore homeowners could receive counseling and financial support - including short-term loans to help avoid foreclosure - if the city wins the predatory and discriminatory lending lawsuit it filed yesterday against Wells Fargo Bank, Mayor Sheila Dixon said...

How Would A Countrywide Bankruptcy Would Affect Consumers?

Posted on January 09, 2008
Jumping a little more on the potential Countrywide bankruptcy filing, Fox Business has an article entitled Mortgage Lender's Bankruptcy Would Have Severe Impact on Consumers.

More Bankruptcy Talk For Countrywide?

Posted on January 09, 2008
From Rueters - The lender said there was "no substance to the rumor that Countrywide is planning to file for bankruptcy, and we are not aware of any basis for the rumor that any of the major rating agencies are contemplating negative action relative to the company," but its shares closed down $2...

What Types Of Cases Does Scott Riddle Handle?

Posted on January 05, 2008
Like most lawyers, I am often asked what kinds of cases I generally handle. Obviously, one of my practice areas is bankruptcy law, but I also receive questions about what specific types of bankruptcy matters I handle. After a year and a half of publishing this Blog, I thought it time to describe my practice areas in a little more detail...

Wills, Trusts , Probate, and Elder Care Lawyer in Decatur and Atlanta, Georgia -- Law Office of Luanne M. Bonnie

Posted on January 05, 2008
My friend Luanne Bonnie has opened a solo practice in downtown Decatur, Georgia, specializing in wills, trusts, estates, probate and elder care. The office will serve the Decatur and metro- Atlanta areas. Luanne was formerly a partner in a large Southeast firm...

Recent 11th Circuit Bankruptcy Cases: Property of the Estate, Jurisdiction

Posted on January 03, 2008
A couple recent 11th Circuit Bankruptcy cases -- Mennen v. Onkyo Corp., No. 06-12050, 2007 WL 2669484 (11th Cir. September 13, 2007). Property of the Estate. Claims of trust rightfully belong to Bankruptcy estate, where creditor trust could not how distinct and individual damage...

Georgia Homebuilder Oakwood Homes, LLC, Which Recently Did Project For "Extreme Makeover," Files Chapter 7 In Northern District Of Georgia

Posted on January 03, 2008
Joining other real-estate related debtors (mortgage lenders, builders, developers), Oakwood Homes, LLC, filed a Chapter 7 petition in the Northern District of Georgia on December 28, 2007. The schedules list over $31 million in assets and over $22 million in debt...

Hundreds of Foreclosed Georgia Houses To Be Auctioned

Posted on January 02, 2008
An unfortunate consequence of the increase in foreclosures is that many homes are being auctioned by the foreclosing lenders. On January 16 and 17, 2007 600 Georgia houses will be auctioned by the firm of Hudson and Marshall, according to this article in the Atlanta Business Chronicle...

Merry Christmas!

Posted on December 25, 2007
Merry Christmas to everyone! To get you going this morning, here is an updated version of 'Little Drummer Boy" from Buckhead Church.

11th Circuit: Party May Not Proceed In Forma Pauperis Where Appeal Is Frivolous

Posted on December 31, 1969
Ghee v. Retailers Nat. Bank, No. 07-14128, 2008 WL 816666 (11th Cir. March 27, 2008). Collection lawsuit against former Chapter 7 debtor's spouse, who was not a debtor in the bankruptcy case, did not violate the discharge injunction of §524(a)(2)...

Can Debtors Borrow Money To Redeem Secured Property?

Posted on December 31, 1969
Debtors in Chapter 7 generally have three ways to deal with secured debts -- reaffirm the debt pursuant to §524, surrender the property to the lender, or "redeem" the property by paying the secured lender the value of the collateral. (For now, we'll leave discussion of the ride-through for another occasion)...

United States Trustee Receives Broad Authority To Investigate Countrywide

Posted on December 31, 1969
In a post on February 29, 2008, I discussed the adversary complaint filed against Countrywide by the United States Trustee in the Northern District of Georgia. Since then, others have picked up on the case, including the New York Times.Countrywide now faces more troubles...

Dress Code For Bankruptcy Lawyers

Posted on December 31, 1969
From Above the Law , Kirkland & Ellis wants its bankruptcy lawyers to dress for success -- 04/01/2008 10:58 AM To: #FW Restructuring Attorneys Subject: Upcoming Dress Code Program As part of our KIRT [Kirkland Institute of Restructuring Training] programs, I am pleased to announce a "dress for success" program, which will be held on each Monday for one hour for the next four weeks...

Detroit Bankruptcy Judges Change Rules To Lure Automakers

Posted on December 31, 1969
The Bankruptcy Court for the Eastern District of Michigan entered an Administrative Order (click here to view) making the Court more attractive for "a very large, complex case of national significance." Yes, that means GM, Chrysler and/or Ford...

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