The doctrine of tenants by the entireties contemplates the ownership of property by the marital union itself ("one flesh") and not by the separate spouses as co-tenants. As a result, the Bankruptcy Code preserves the debtor's right, when on…
Some have described the term "Market Rate of Interest" as being similar to pornography: You can't define it, but you know it when you see it. The courts have been struggling with the application of market rate of interest to undersecured cl…
Judicial estoppel, the concept that a party is estopped from taking inconsistent positions in different judicial proceedings, is being applied with increasing regularity when the debtor's schedules omit reference to a pending or a potential…
The grounds for setting aside reaffirmation agreements are limited after the time to rescind has expired. Reaffirmation agreements are not favored by bankruptcy courts and are strictly construed based on conventional contract principles. 1 …
What About Bob!" was a popular movie starring Bill Murray about a wacky guy who consumes and overwhelms his psychiatrist, played by Richard Dreyfuss. A similar question, "What about post-petition claims?", can likewise cause a feeling of be…
It is common for consumer debtors to borrow money, generally from small loan companies, and grant them a lien in existing household goods to secure repayment of those loans. The liens granted are referred to as "non-possessory non-purchase-…
While the National Bankruptcy Review Commission (NBRC) is considering wholesale changes to reaffirmation procedures, including what debts can be reaffirmed, [1] it is imperative that Congress resolve a split among the circuits over the issu…