Introduction
Earlier this month, George L. Miller, the chapter 7 trustee (the “Trustee”) in the GRA Liquidation bankruptcy proceeding began filing preference complaints against various defendants. For those not familiar with the GRA Liquidation bankruptcy, Debtor Pecus ARG Holding, Inc. an
Summary
In an 21 page opinion published May 25, 2011, Judge Shannon ruled that, “the fact that an agent may represent more than one principal does not alter the well-established doctrine that an agent with authority is capable of binding its principal.” Opinion at *2-3. Judge Shannon’s opinion is available here (the “Opinion”).
Background
WL Homes (the “Debtor”) formed JLH Insurance Corporation (“JLH”) in order to pay insurance claims filed against the Debtor. The Debtor funded JLH with $10 million, which JLH kept in an account at Wachovia. The Debtor then ent
As of July 21, 2011, a new agency will be joining the Federal Trade Commission to help investigate the growing number or complaints regarding debt collectors violating the Fair Debt Collection Practices Act. (FDCPA)
This new consumer protection, federal watchdog agency will be named the Consumer Financial Protection Bureau, and was created by a law enacted last year. A
While browsing online to find a credit card, you will come across instant approval offers. Have you thought about what instant approval means? What can you expect from a credit card that offers guaranteed approval? What makes it different from regular credit cards? Should you sign up for one?
What Credit Cards Instant Approval Means
So what does it meant to get an instant approval? Does it mean you can use your credit card on the same day you applied? Technically, instant approval is not a quick as it sounds. Compared to the traditional way of applying for a credit card, it involves a much speedier process.
Summary
In a 14 page opinion published June 7, 2011, Judge Carey ruled that publication of notice in only two newspapers was insufficient information to grant a motion to dismiss based on adequacy of notice. Judge Carey’s opinion is available here (the “Opinion”).
Background
New Century TRS Holdings, Inc. (the “Debtor”), filed voluntary petitions for bankruptcy on April 2, 2007 and the claims Bar Date was established as August 31, 2007. On July 23, 2007, the claims agent published a notice of the Bar Date in The Wall Street Journal and The Orange County Register. Opinion at *3. On Novemb
Debt collectors from Pinnacle Financial Group have been contacting former patients about alleged hospital bills/debt from the former Pascack Valley Hospital, which is now out of business. Consumers should be aware that in some instances Pinnacle Financial may be calling about a debt that is incorrect, invalid or outside of the statute of limitations.
If you have received a letter or call from Pinnacle regarding a Pascack Valley Hospital debt that you allegedly owe, you must contact them in writing within 30 days of receipt of the letter or it will be assumed the debt is valid.
Introduction
On May 23, 2011, Jackson Hewitt Tax Services Inc. (“Jackson Hewitt”) filed a petition for bankruptcy in the United States Bankruptcy Court for the District of Delaware. This post will look at Jackson Hewitt’s operations, why the company filed for bankruptcy, as well as what Jackson Hewitt hopes to achieve will in bankruptcy. As is often the case, much of the information discussed in this post comes from the Debtor’s Declaration in Support of First Day Pleadings (the “Declaration” or “Decl.”). A copy of the Declaration filed in the Jackson Hewitt bankruptcy is available here for review.
Jackson Hewitt’s Operations
Jackson Hewitt provides tax return preparation services for individual and corporate clients throughout the United States. The company claims to be the second largest tax return preparer in the United States, having prepared approximately 2.6 million returns in the 2011 tax season. Decl. at p.
