What’s New in Bankruptcy?
ITT Tech Student Loans Settle in Bankruptcy versus other Government Loans
ITT Tech student loans settle in bankruptcy and will be paid out assuming that ITT’s bankruptcy estate has sufficient funds. The settlement that will erase nearly $600 million that 750,000 students owed ITT Technical Institute. The agreement will also refund $3 million that students paid the for-profit chain. The students asserted a $1.5 billion claim…
Read MoreBitcoin Mining Pioneer GigaWatt Seeks Bankruptcy Protection
Bitcoin mining pioneer, GigaWatt, seeks Chapter 11 bankruptcy protection in Spokane, Washington. The filing is the latest twist in an entrepreneurial saga stretching back to the early days of bitcoin and may be connected to efforts by three of the company’s majority shareholders to sell GigaWatt. One of its co-founders, David Carlson, a former Microsoft…
Read MoreUpdate: Attention Brides! David’s Bridal has filed for Chapter 11 Bankruptcy
A Chapter 11 bankruptcy case has been filed in Delaware by Conshohocken PA based wedding gown retailer David’s Bridal Inc. A Chapter 11 plan was filed with its Chapter 11 petition, so that this “pre-packaged bankruptcy case” should go through a speedier approval process than a regular bankruptcy case, as all major creditors have already agreed…
Read MoreTrending… Private Loans automatically dischargeable in Bankruptcy!
A Denver Bankruptcy Judge, following what she called the “trending narrow view” ruled that an educational loan from a private lender is discharged automatically in bankruptcy, because it does not fit within the governmental educational provision that renders those “benefits” non-dischargeable. For help with discharging your private loans in bankruptcy, please contact us for a…
Read MoreIn a novel ruling, condominium fees are discharged in a chapter 13 bankruptcy case!
Condominium fees accruing post-bankruptcy must be paid perpetually by a debtor until the condo is sold by the foreclosing lender. A novel court decision has discharged condo fees in a chapter 13 case, based on the absence of the legal language that prohibits such discharge in a chapter 7, 11 or 12 case. This ruling…
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