Massachusetts Bankruptcy Court Rules That Parents Receive Reasonably Equivalent Value In Exchange For Paying …

Between March 2012 and March 2014, Steve and Lori Palladino paid approximately $65,000 to Sacred Heart University to cover the tuition costs of their adult daughter.

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Schaeuble Urges Lawmakers to Go Tough on Draghi, Bild Reports

German Finance Minister Wolfgang Schaeuble has urged lawmakers to take a tough stance with European Central Bank President Mario Draghi when he goes before legislators in the lower house of parliament next week, Bild reported.

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Ninth Circuit Allows Lien-voidance For Chapter 20 Debtors

Insolvency professionals regularly recommend secured creditor clients to submit protective proofs of insurance claim in personal bankruptcy proceedings despite those customers capability to ignore bankruptcy proceedings and decline filing insurance claims without endangering their lien due to the protections paid for by state law foreclosure rights. [1] However a current Ninth Circuit decision is triggering lawyers and customers to reconsider whether this typically conservative technique is simply too dangerous in Chapter 13 cases. HSBC Bank v. Blendheim (In re Blendheim), No. 13-35412, 2015 WL 5730015 (9th Cir. Oct. 1, 2015).

The Blendheims submittedapplied for Chapter 13 relief after getting a Chapter 7 discharge, making them what is frequently referred to as Chapter 20 debtors. Holding a first-position lien secured by the Blendheims West Seattle condo, HSBC submitted a prompt evidence of insurance claim, to which the Blendheims submitted an objection. HSBC did not respond, and hearing no response, the court entered an order prohibiting HSBCs assert. HSBC was served with the order, however continued to take no action until several months later on when the Blendheims submitted an adversary case seeking, amongto name a few things, to void HSBCs first-position lien pursuant to Personal bankruptcy Code sect; 506(d). Section 506(d) provides that [t] o the degree that a lien protects an insurance claim versus the debtor that is not an allowed secured claim, such lien is void.

Pointing out HSBCs prompt filed evidence of claim, invoice of service of the Blendheims objection, and complete and fair chance to object to the disallowance of its insurance claim but merely picking not to, the Ninth Circuit identified its decision from 4th, Seventh, and Eighth Circuit precedent holding that bankruptcy courts might not use sect; 506(d) to void liens whose insurance claims have actually been disallowed on the sole basis that their proofs of claim were unforeseen filed. Rather, the panel concluded that while [v] oidance of a lien postured a more extreme consequence than easy disallowance of HSBCs claim in the personal bankruptcy case since voiding the lien would get rid of HSBCs state-law right of foreclosure, HSBCs rejection to defend its lien was tantamount to surrendering its claim.

Discovering that the lien was properly voided under sect; 506(d), the Ninth Circuit next analyzed whether any provisions of the Insolvency Code worked to renew the previously voided lien at the conclusion of the Blendheims Chapter 13 case. HSBC argued that a discharge was required to acquire the benefits of lien voidance due to the fact that, apart from conversion or termination, discharge was the only system readily available to bring a Chapter 13 case to close in a manner that makes lien voidance irreversible. But the court disagreed, keeping in mind that while Chapter 13 cases commonly conclude with conversion to Chapter 7, dismissal, or discharge, the Blendheims case provided an unique lsquo; Chapter 20 question.

Under a plain reading of Insolvency Code sect; 350(a), [2] the panel figured out closure did not require conversion, dismissal, or discharge. The panel further reasoned that since personal bankruptcy discharge, by definition, affects just in personam liability, it has never functioned as the historical means for ensuring that the Bankruptcy Codes different mechanisms for customizing or voiding a creditors in rem rights stayed in place at the conclusion of the plan.

Thus, ineligibility for a discharge does not forbid the long-term voidance of a lien under sect; 506. Signing up with the Fourth and Eleventh Circuits, [3] the Ninth Circuit thus concluded that Chapter 20 debtors while otherwise ineligible for a discharge under 11 USC. sect; 1328(f) [4] may still make use of Chapter 13s lien-voidance system on completion of their Chapter 13 plans.

Going forward, secured lenders should think about the implications of filing a proof of insurance claim in Chapter 13 cases. To be sure, if lenders do choose to file claims, they ought to strongly defend the claims to prevent losing lien rights.

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Middlesbrough 1 Tottenham 2: Son Heung-min at the double as Spurs continue unbeaten league start

SPURS maintained their unbeaten Premier League start with a comfortable 2-1 win at Middlesbrough thanks to two goals from in-form Son Heung-min.

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Phony Law CompaniesLaw Office Leave Numerous Victims Behind

Hundreds of Florida citizens intending to save their homes from foreclosure were duped by a string of fake law companies led by a man who never earned a law degree according to detectives with the state lawyer generals office and Coral Gables Authorities Department.Investigators told News 6 that authorities had already received 37 complaints linkedconnected to business operated by Joseph Starr aka Joseph Hilton however that the number of customers captured in the supposed mortgage adjustment scam is more detailed to 400. Joseph Anton Hilton, 56, and Adam Forman, 46, owned and operated The

Asset Protection Law CompanyLaw office, in Coral Gables, which provided residential loan adjustments and financial obligation combination to house owners in main Florida and across the state, authorities said.Records show neither Hilton or Forman ever held a license to practice law.Lisa Costanza, of Seminole County,

told News 6 that she was informed she would be able to get a Thirty Years set home loan rather of an adjustable rate being provided by her lender.Coral Gables Detective Jason DeLuca said Hilton has actually been running in Coral Springs for the last 3 months.Hilton admitted to cops that he purchased lists that included names of Florida residents facing foreclosure. Many of the companybusiness was conducted by a team of 14 by phone according to DeLuca.Costanza who says she

lost$1,000 to Hilton states she was called by someone who asserted the process would be easy.He states you don’t have to see me you do
n’t
even need to come to court, she said.Clients who registered with Hiltons legal team stated they were promised a fasta fast lane to customizing their mortgage.DeLuca stated property owners from Miami to Tallahassee fell for the scam and its likely numerous don’t

understand the company was a fake.Victims of this home loan modification scam are asked to call -866 -9 NO-SCAM

or submit a grievance online at MyFloridaLegal.com Copyright 2016 by WKMG ClickOrlando-All rights scheduled.

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ITT Educational Solutions Closes Down

Hoosier trainees around Indiana are being looked after, despite ITT Technical Institute’s nationwide shutdown.

Gov. Mike Pence has directed the Commission for Greater Education and Department of Workforce Advancement to work together to assistto assist now-displaced trainees progress in their educational programs, according to a CHE press release published Tuesday.

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Rise in interest rate hits millions of Canadians

Toronto, Sept 14 : A recent report from TransUnion, one of Canada's major credit reporting agencies, said that one full percentage upward variation in interest rate could put Canadian mortgage payers into serious inconvenience which even result into …

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