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Pamela Foohey
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I just finished teaching an intensive one-week course at Cardozo School of Law designed to introduce students broadly to bankruptcy and reorganization. The course covered debt collection, consumer bankruptcy, large public-company reorganization, small business reorganization (including the SBRA), municipal bankruptcy,... Continue reading
Posted Jan 15, 2021 at Credit Slips
Last week, Senator Elizabeth Warren (D-MA) and Representative Jerrold Nadler (D-NY) introduced the Consumer Bankruptcy Reform Act of 2020 (CBRA). As Slipster Adam Levitin detailed, the CBRA proposes a single chapter structure designed to streamline the consumer bankruptcy process. This... Continue reading
Posted Dec 14, 2020 at Credit Slips
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As parts of the country are counting ballots, I thought I'd post about counting church chapter 11 cases. The headlines about churches and other religious organizations filing chapter 11 still focus predominately -- almost exclusively -- on Catholic Diocese filings.... Continue reading
Posted Nov 4, 2020 at Credit Slips
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I just finished Professor Jennifer Taub's new book, Big Dirty Money: The Shocking Injustice and Unseen Cost of White Collar Crime. The book has been out for a couple weeks and it's already receiving rave reviews. I'm a bit late... Continue reading
Posted Oct 15, 2020 at Credit Slips
As with (almost) all events now, the 2021 AALS Annual Meeting is going forward as a virtual conference at the beginning of January. Deadlines for calls for papers are approaching soon. For our professor readers, the Section on Financial Institutions... Continue reading
Posted Sep 11, 2020 at Credit Slips
Today is the last day of National Financial Literacy Month. At a time when the economy has come to a grinding halt, it seems pertinent to talk about financial literacy, or, more accurately, the fallacy of financial education. Agata Soroko... Continue reading
Posted Apr 30, 2020 at Credit Slips
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To give us something to look forward to, the Berkeley Center for Consumer Law and Economic Justice recently announced that the third annual Consumer Law Scholars Conference (CLSC) will take place on March 4-5, 2021, at Boston University. The conference... Continue reading
Posted Apr 21, 2020 at Credit Slips
Over at the Machine Lawyering blog -- organized and edited by the Chinese University of Hong Kong's Law Faculty’s Centre for Financial Regulation and Economic Development -- Slipster Nathalie Martin and I just posted some commentary about our new article,... Continue reading
Posted Apr 14, 2020 at Credit Slips
The CARES Act provides for direct "rebate" payments to American households. Treasury is gearing up to send some of those payments out soon. But Congress forgot to protect the payments from garnishment. American families may see needed funds deposited into... Continue reading
Posted Apr 8, 2020 at Credit Slips
Before and just after the Boy Scouts of America (BSA) filed chapter 11, I received a few inquiries about the benefits and drawbacks to survivors of BSA's then-potential filing. I generally responded by highlighting that bankruptcy would not necessarily take... Continue reading
Posted Feb 22, 2020 at Credit Slips
As you almost certainly have seen, early morning, Tuesday, February 18, the Boy Scouts of America (BSA) filed chapter 11 (Case No. 20-10343). The filing solely was motivated by the deluge of sex abuse claims filed against BSA. There currently... Continue reading
Posted Feb 19, 2020 at Credit Slips
Today, Senator Elizabeth Warren unveiled her new plan to reform the consumer bankruptcy system. The plan is simple, yet elegant. It is based on actual data and research (including some of my own with Consumer Bankruptcy Project co-investigators Slipster Bob... Continue reading
Posted Jan 7, 2020 at Credit Slips
Yesterday, the SCOTUS granted certiorari in City of Chicago v. Fulton, 19-357, to resolve a circuit split about whether a creditor's inaction in not returning property repossessed pre-petition can violate the automatic stay. The split arises predominately from chapter 13... Continue reading
Posted Dec 19, 2019 at Credit Slips
The National Conference of Bankruptcy Judges' annual conference is happening soon – Wednesday, October 30 through Saturday, November 2. I'm delighted to be part of this year's education committee. The 2019 conference features some panels that include Slipsters and touch... Continue reading
Posted Sep 19, 2019 at Credit Slips
In America, people drive — to work, to the doctor, to the grocery store, to their kids' daycare, to see their aging parents. Research shows that car ownership increases the probability of employment and number of hours worked; households without... Continue reading
Posted Sep 16, 2019 at Credit Slips
A couple days ago, Judge Garrity Jr. of the Bankruptcy Court for the Southern District of New York issued a 132 page opinion denying confirmation of Ditech's proposed plan. Ditech, of course, is an originator and servicer of mortgages, including... Continue reading
Posted Aug 30, 2019 at Credit Slips
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This post is co-authored with my student, Kelsey Brandes, rising 3L, IU Maurer School of Law Reports of hospitals, physician practices, healthcare systems, and clinics filing for bankruptcy have become seemingly increasingly well publicized in recent years. At the beginning... Continue reading
Posted May 23, 2019 at Credit Slips
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Stephanie Land recently tweeted this depressing statistic: "a single parent would have to work 140 hours a week at minimum wage to pay for basic necessities." And Land would know. Her new memoir -- Maid: Hard Work, Low Pay, and... Continue reading
Posted Feb 5, 2019 at Credit Slips
I just posted to the Social Science Research Network my response -- Jevic's Promise: Procedural Justice in Chapter 11 -- to Jonathan Lipson's recent article about Czyzewski v. Jevic Holding Corp. and structured dismissals. In his article, The Secret Life... Continue reading
Posted Dec 11, 2018 at Credit Slips
A few weeks ago, Marie Reilly (Penn State Law, University Park) posted to SSRN a new paper, Catholic Dioceses in Bankruptcy, which details the outcomes of the eighteen chapter 11 cases filed by Catholic dioceses and religious institutes since 2004.... Continue reading
Posted Nov 19, 2018 at Credit Slips
Exciting news for consumer law scholars. To the best of my knowledge, the first ever conference in the United States dedicated expressly to scholarship in the field of consumer law is happening in February 2019 at the new Berkeley Center... Continue reading
Posted Sep 6, 2018 at Credit Slips
Last weekend, The New York Times published an opinion piece about animal shelters, Are We Loving Shelter Dogs to Death? It highlighted the sad reality that nationwide shelters are horribly overcrowded. According to the piece, a "big part" of shelters'... Continue reading
Posted Aug 24, 2018 at Credit Slips
Older Americans (age 65 and over) are increasingly likely to file bankruptcy and now comprise a larger proportion of the people who file bankruptcy -- and the effects are not small. Using data from the Consumer Bankruptcy Project, in a... Continue reading
Posted Aug 6, 2018 at Credit Slips
The Great Recession, the CFPB's creation, the rise of debt buying, changes in the debt collection industry, and advances in data collection have encouraged more research recently into issues of access to justice in the context of consumer law and... Continue reading
Posted Jun 26, 2018 at Credit Slips
Following up on Bob's post earlier this week about the Department of Education's request for information (RFI) regarding evaluating "undue hardship" claims in adversary proceedings to discharge student loans, a group of 23 academics, including myself, also submitted written comments... Continue reading
Posted May 25, 2018 at Credit Slips