Creditor's Rights. Legal news and articles for April 28 - 30, 2017

Andy Phillips elected Fellow of Mississippi barRecognition: Deborah Petersen Receives HonorsBankruptcy filings in metro DetroitBankruptcy risk as 'desperate' councils play the property marketPuerto Rico Bondholders Reject Island's Restructuring OfferWhat to Do if a Retailer Goes BankruptU.S. ag cooperative CHS hit by Brazil firm's bankruptcy filing -sourcesChancery Court Dismisses All Claims for Breach of Fiduciary Duty, Fraud, and Company Dissolution Brought by CreditorJustice Department Says People in Marijuana Business Can't Use BankruptcyJustice Department Says People in Marijuana Business Can't Use BankruptcyCamping World-led group wins bankruptcy auction for Gander MountainGathering storm clouds for Puerto RicoAlberta Energy Regulator says will appeal Redwater case to Supreme CourtAlberta Energy Regulator will appeal Redwater case to Supreme CourtAlberta Energy Regulator says will appeal Redwater case to Supreme Court

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Payless has filed for bankruptcy - Business Insider
Business InsiderApril 4, 2017

Payless ShoeSource said Tuesday that it has filed for bankruptcy and will immediately close 400 stores in the US and Puerto Rico. The discount shoe chain has ...more »

CFPB Proposes Amendments to Align Regulation B with Revised Regulation C
JD Supra (press release)April 5, 2017

Regulation B implements the ECOA, a federal civil rights law prohibiting lenders from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, or other protected characteristics ...more »

Creditor's Rights. News and Stories

Andy Phillips elected Fellow of Mississippi bar
Oxford EagleApril 30, 2017

He is a member of the W. C. Keady Inns of Court, former Adjunct Professor to the University of Mississippi School of Law and is Chairman of Oxford's Courthouse Square Historic Preservation Commission. He is the very proud father of two sons, Collier ...more »

Recognition: Deborah Petersen Receives Honors
The Daily NonpareilApril 30, 2017

The American College of Bankruptcy inducted Deborah L. Petersen, attorney at Petersen Law PLLC in Council Bluffs, as a Fellow of the College on March 10, 2017 in Washington, D.C. There were 30 Fellows being honored and recognized for their ...more »

Bankruptcy filings in metro Detroit
Crain's Detroit BusinessApril 30, 2017

The following business filed for bankruptcy protection in U.S. Bankruptcy Court in Detroit April 21-27. Chapter 7 involves total liquidation. Ideation Inc., dba Daysprings Gifts, Crown & Carriage, All Things Made in America, Jones Gifts, Ann Arbor ...more »

Bankruptcy risk as 'desperate' councils play the property market
The GuardianApril 29, 2017

Desperate councils risk being plunged into an Icelandic-style financial crisis after investing £1.5bn in the commercial property market, according to Sir Vince Cable, former business secretary. Heavy cuts in central government funding have left the ...more »

Puerto Rico Bondholders Reject Island's Restructuring Offer
BloombergApril 29, 2017

Puerto Rico bondholders rejected Governor Ricardo Rossello's debt-restructuring proposal days before a May 1 deadline to craft a deal or face a potential wave of creditor lawsuits. The Caribbean island is offering holders of its general-obligation ...more »

What to Do if a Retailer Goes Bankrupt
whnt.comApril 29, 2017

When a retailer files for bankruptcy, it will commonly file Chapter 11, which means the company intends to reorganize and continue to do business, or Chapter 7, which means the company will close up for good and liquidate any assets in order to pay ...more »

U.S. ag cooperative CHS hit by Brazil firm's bankruptcy filing -sources
Business InsiderApril 28, 2017

SAO PAULO, April 28 (Reuters) - CHS Inc, the biggest U.S. agricultural cooperative, is among the largest creditors of Brazilian commodities trader Seara Ind e Com de Produtos Agropecuários Ltda, which filed for bankruptcy protection last week, two ...more »

Chancery Court Dismisses All Claims for Breach of Fiduciary Duty, Fraud, and Company Dissolution Brought by Creditor
The National Law ReviewApril 28, 2017

12071-VCMR, the Delaware Court of Chancery granted defendants' motion to dismiss, holding that the creditor plaintiff lacked standing to pursue a claim for breach of fiduciary duty and a claim for dissolution of the company, that he failed to state a ...more »

Justice Department Says People in Marijuana Business Can't Use Bankruptcy
Fox BusinessApril 28, 2017

The letter from Mr. White drew criticism from the country's largest group of consumer bankruptcy lawyers. North Carolina lawyer Ed Boltz, who monitors federal policy for the National Association of Consumer Bankruptcy Attorneys, said the Justice ...more »

Justice Department Says People in Marijuana Business Can't Use Bankruptcy
Wall Street Journal (subscription)April 28, 2017

People who make money from the marijuana industry can't use the federal bankruptcy courts when they get into financial trouble, says a Justice Department bankruptcy watchdog. U.S. Trustee Program director Cliff White wrote a letter to trustees who ...more »

Camping World-led group wins bankruptcy auction for Gander Mountain
STLtoday.comApril 28, 2017

The largest U.S. recreational vehicle dealer, Camping World Holdings Inc., and a group of liquidators won a bankruptcy auction for sporting goods retailer Gander Mountain Co. on Friday, according to a bankruptcy court filing. The value of the winning ...more »

Gathering storm clouds for Puerto Rico
American Enterprise InstituteApril 28, 2017

If bankruptcy protection is not sought today by the Puerto Rican Governor and its Oversight Board, the temporary stay that Congress granted the island last year from creditor law suits will expire on Monday. Meanwhile, President Trump has been tweeting ...more »

Alberta Energy Regulator says will appeal Redwater case to Supreme Court
News1130April 28, 2017

CALGARY – The Alberta Energy Regulator said Friday it will appeal to the Supreme Court of Canada a case that pits creditors' rights to oil and gas assets against environmental liabilities. The lawsuit involving bankrupt Redwater Energy Corp. has been ...more »

Alberta Energy Regulator will appeal Redwater case to Supreme Court
660 NewsApril 28, 2017

CALGARY – The Alberta Energy Regulator said Friday it will appeal to the Supreme Court of Canada a case that pits creditors' rights to oil and gas assets against environmental liabilities. The lawsuit involving bankrupt Redwater Energy Corp. has been ...more »

Alberta Energy Regulator says will appeal Redwater case to Supreme Court
TheChronicleHerald.caApril 28, 2017

CALGARY — The Alberta Energy Regulator said Friday it will appeal to the Supreme Court of Canada a case that pits creditors' rights to oil and gas assets against environmental liabilities. The lawsuit involving bankrupt Redwater Energy Corp. has been ...more »

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