San Francisco

October 2013 Archives

Don’t take it "PERS-onally:

Do you get the pun?  Come hear how CalPERS and other PERSons (such as holders of municipal bonds) play a role in municipal bankruptcies.  Join us for a white-linen lunch and this wonderful program:

Don't Take it PERS-onally!

Chapter 9 Municipal Bankruptcy as a Game Changer

Bank of America Fined $10,000 Per Month for Violations of Discharge Injunction

On Tuesday, United States Bankruptcy Judge Rober Drain ordered Bank of America to pay $10,000 plus attorney's fees for every month that the bank attempts to collect from Edwin and Michelle Ramos, who previously received a discharge in their chapter 7 bankruptcy case.  Although liens and mortgages were not discharged in their case, their personal liabilities were discharged, including their personal liability to to the bank.  The court stated that the ruling was intended to "send a message."

Bankruptcy Courts Remain Open; US Trustee Program Cuts Back

The United States Bankruptcy Court for the Northern District of California will remain open notwithstanding the government shutdown, Chief Judge Alan Jarolovsky announced yesterday.  He reminded the bar that properly following procedures is of critical importance in order to avoid unnecessary burdens during the shutdown.

The Office of the United States Trustee will also remain open, but only one-third of its staff is deemed essential, the Wall Street Journal reported yesterday.

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