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The Importance of Paying Attention to Notices Received in Bankruptcy Cases: Creditor Misses Proof of Claim Bar Date and Loses Claim for $2 million

Posted by: Alexander E. Porter on November 13, 2020

Court Decision Clears Way for Broader Use of Postnuptial Agreements

A recent decision from the United States Bankruptcy Court for the Central District of Illinois (“Court”) is a stark reminder of the importance of paying attention to notices received from bankruptcy cases and the need for creditors to consider retaining counsel to protect their interests in such...


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Indiana Supreme Court Further Extends Partial Protection of CARES Act Recovery Rebates

Posted by: C. Daniel Motsinger on November 12, 2020

Court Decision Clears Way for Broader Use of Postnuptial Agreements

As noted in prior Alerts, in its order issued April 20, 2020, the Indiana Supreme Court exercised its emergency rule-making authority to order that all Indiana trial courts “shall issue no new orders placing a hold on, attaching, or garnishing funds in a judgment-debtor’s account in a depository...


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OCC Issues Final "True Lender" Rule

Posted by: Charles O. Richert and Brett J. Ashton on November 11, 2020

Court Decision Clears Way for Broader Use of Postnuptial Agreements

On October 27, 2020, the Office of the Comptroller of the Currency (“OCC”) issued the final version of its “true lender” rule (the “Final Rule”). The Final Rule resolves uncertainty regarding which entity in a lending partnership between a bank and a nonbank lender is the “true lender.” The...


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IRS Instructs Lenders not to File Form 1099-C for Forgiveness of Paycheck Protection Program Loans

Posted by: Robert A. Greising and Kendall A. Schnurpel on October 1, 2020

Court Decision Clears Way for Broader Use of Postnuptial Agreements

In Announcement 2020-12, released September 22, 2020, the Internal Revenue Service (IRS) informed lenders that they should not report qualifying loan forgiveness amounts from covered loans made under the Paycheck Protection Program (PPP) by filing Form 1099-C with the IRS.

Background

As...


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Student Loan Dischargeability: Recent Developments

Posted by: Alexander E. Porter on September 18, 2020

Court Decision Clears Way for Broader Use of Postnuptial Agreements

Dischargeability of student loans is a “hot button” issue in both the bankruptcy world and mainstream media. In fact, last September another colleague wrote about the history of student loan dischargeability, and the current obstacles borrowers face.[1] Since that article, the U.S. Bankruptcy...


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Moratorium on Indiana Residential Foreclosures and Evictions Extended Through August 14, 2020

Posted by: C. Daniel Motsinger on July 31, 2020

Court Decision Clears Way for Broader Use of Postnuptial Agreements

On July 30, 2020, pursuant to Executive Order 20-39, the Governor of Indiana extended the prohibition on filing foreclosure actions or proceedings involving residential real estate or property through August 14, 2020. The Governor’s directive does not impact the federal “Foreclosure and Eviction...


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Seventh Circuit Court of Appeals Reaffirms the Necessity of Adhering to the Bankruptcy Code Text

Posted by: Nicholas D. Strom on July 15, 2020

Court Decision Clears Way for Broader Use of Postnuptial Agreements

On July 6, 2020, the United States Court of Appeals for the Seventh Circuit (which covers appeals from federal courts in Indiana, Illinois and Wisconsin) handed down the third in a series of decisions related to Chicago debtors seeking chapter 13 bankruptcy protection in order to avoid or defer...


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