Thursday, January 20, 2022
Sunday, January 16, 2022
Wednesday, January 12, 2022
Bankruptcy Deadlines must be observed! The recent case of In re U-Haul, 21-bk-20140, 2021 Bkr LEXIS 3373 (Bankr. S.D. W. Va. Dec. 10, 2021) demonstrates this rule. In the U-Haul case, a creditor needed to file a proof of claim for $53 million and their attorney waited until the last moment to do the filing. Unfortunately the attorney did not have the proper password and the proof of claim was filed approximately 9 hours late.
Counsel for the Debtor objected to the late filed claim. Creditor counsel argued “excusable neglect” (the argument usually made by attorneys when deadlines are missed see Pioneer Inv. Servs. v. Brunswick Assocs. Ltd P’ship, 507 U.S. 380 (1993)) and creditor counsel lost.
For those that do bankruptcy work on a day to day basis, this is a painful case to read.
A lesson for all lawyers is to prepare for deadlines, observe deadlines, do not wait until the last minute to file and prepare and plan for the unexpected. Jim Shenwick, Esq.
Wednesday, January 05, 2022
Thursday, December 30, 2021
NYC taxi medallion baron paid for news stories to boost stock price, SEC claims see article in NY Post URL below
NYC taxi medallion baron paid for news stories to boost stock price, SEC claims
Tuesday, December 28, 2021
A very informative article about continued Federal Student Loan repayment moratorium titled "4 things student loan borrowers should know about the extended payment pause can be found at https://www.cnbc.com/2021/12/27/4-things-student-loan-borrowers-should-know-about-the-extended-payment-pause-.html
Tuesday, December 21, 2021
Will 15-minute delivery do to bodegas what ride-hailing apps did to the taxi industry? see link to article below