Category Archives: Bankruptcy & Creditor’s Rights

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Bankruptcy Considerations in Collection Actions

Posted in Bankruptcy & Creditor's Rights, Collections

Understanding what can occur during a collection action can be vital in determining which accounts to pursue. One common occurrence is that a debtor files for bankruptcy. There are two (2) types of consumer bankruptcy filings that may likely be encountered during a collection action. The first is a Chapter 7 Liquidation, meaning that the… Continue Reading

Amendment to the New Jersey Uniform Commercial Code

Posted in Bankruptcy & Creditor's Rights, Business & Corporate, Collections, Stark News

The New Jersey Uniform Commercial Code (the “UCC”) was amended, effective May 11, 2015, imposing new requirements on the filing of a financing statement to perfect a security interest in collateral within the scope of Article 9 of the UCC. The amendment provides that in order to be sufficient, a financing statement must state that… Continue Reading

SCOTUS: Second Mortgages NOT Voidable In Chapter 7 Proceedings (Caulkett Decision)

Posted in Bankruptcy & Creditor's Rights

On Monday, June 1, 2015, the Supreme Court of the United States published its opinion in the matter of Bank of America v. Caulkett. The issue determined was whether or not, in a bankruptcy liquidation (Chapter 7 proceeding), the debtor can void a second mortgage when the property (typically the home) is worth less than… Continue Reading

Shopping Center Retailers File for Chapter 11 Bankruptcy – When Will Landlords and Trade Creditors Be Paid?

Posted in Bankruptcy & Creditor's Rights

Recently, several shopping center retail stores have filed for Chapter 11 bankruptcy protection in the District of Delaware. Wet Seal, Inc. (“Wet Seal”) filed on Friday, January 16, 2015 (docket # 15-10081), Cache, Inc. (“Cache”) filed on February, 4, 2015 (docket #15-10172), and most recently, RadioShack Corporation (“RadioShack”) filed on February 5, 2015 (docket #15-1097)…. Continue Reading

U.S. Supreme Court to Address Strip Off of Home Mortgage in Chapter 7

Posted in Bankruptcy & Creditor's Rights

The U.S. Supreme Court has agreed to hear two appeals by Bank of America concerning an important and frequently recurring question of bankruptcy law: whether a chapter 7 debtor can “strip off”-that is, void-a junior mortgage lien on a debtor’s house when the debt owed to a senior lienholder exceeds the current value of the… Continue Reading

Stark & Stark Shareholder Timothy P. Duggan Published in Star Ledger Op-Ed

Posted in Bankruptcy & Creditor's Rights, Condemnation & Eminent Domain, Stark Events, Stark News

Stark & Stark Shareholder Timothy P. Duggan, Chair Stark & Stark’s Bankruptcy & Creditor’s Rights, Eminent Domain and Real Estate Tax Appeal Groups, was a Star-Ledger Guest Columnist in the op-ed article “Irvington’s Eminent Domain Plan Not the Answer,” published on January 29, 2014.