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Tag Archives: Chapter 7 bankruptcy

Bankruptcies Down Over 20% YoY

Epiq, an Atlanta-based provider of intelligence to the legal services industry, has released its April 2022 bankruptcy filing statistics from its new Bankruptcy Analytics platform which found that filings decreased by 10% last month representing 32,508 filings of all types, down ...

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Bankruptcies Tick Up for Second Month

Epiq, an Atlanta-based provider of intelligence to the legal services industry, has released its February 2022 bankruptcy filing statistics from its new Bankruptcy Analytics platform which found that filings increased by 3.2% last month representing 26,985 filings of all types, up from ...

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Bankruptcies Continue Downward Trend

Epiq, an Atlanta-based provider of intelligence to the legal services industry, has released its January 2021 bankruptcy filing statistics from its AACER subsidiary which found that filings declined by 6.4% last month representing 26,194 filings of all types, down from the 27,957 seen ...

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Supreme Court Outlaws Chapter 7 ‘Stripping Off’ of Second Mortgages

Bank of America appealed the bankruptcy judge's ruling for the two cases, but the 11th Circuit U.S. Court of Appeals upheld the bankruptcy court's decision in May 2014, going against the Dewsnup ruling by saying that decision did not apply when the collateral on a junior lien (second mortgage) did not have sufficient enough value. The bank subsequently appealed the 11th Circuit Court's ruling.

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U.S. Supreme Court Hears Opening Arguments in ‘Stripping Off’ Mortgage Cases

In the opening arguments on Tuesday morning for two cases in the U.S. Supreme Court to determine the legality of extinguishing, or "stripping off" an underwater second mortgage as unsecured debt for a debtor in bankruptcy, an attorney representing Bank of America contended that the high court should uphold a 1992 decision that outlawed stripping off, while attorneys representing the debtors argued that the decision is irrelevant to these two cases.

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Yale Law School Files Amicus Brief in ‘Stripping Off’ Mortgage Case Headed to U.S. Supreme Court

Yale Law School's Mortgage Foreclosure Litigation Clinic and the Connecticut Fair Housing Center (CFHC) have filed an Amicus Brief with the U.S. Supreme Court in support of the respondents in a case to decide whether underwater homeowners in Chapter 7 bankruptcy can legally eliminate the liability on second mortgages, a process known as "stripping off," according to an announcement on Yale Law School's website.

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