High court backs bids to collect outdated debt in bankruptcy
A divided U.S. Supreme Court has ruled that debt collectors can use bankruptcy proceedings to try to collect liabilities that are so old the statute of limitations has expired.
Bankruptcy
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Decline in bankruptcy filings slowing
Bankruptcy filings in federal courts continue to fall, but the rate of decline is slowing.
Judge’s ruling ends civil suit against former Irwin Union bank officers
An Indianapolis judge has ruled in favor of three former Irwin Union Bank & Trust Co. executives, closing the book on a civil suit that the bank’s bankruptcy trustee originally filed in 2011.
Justices uphold St. Joseph County foreclosure
The Indiana Supreme Court has ruled in favor of a mortgage company that foreclosed on a St. Joseph County couple’s home, holding that although the couple’s personal liability was discharged under Chapter 7 liquidation, the lien on the property was still an enforceable action.
COA: Trial court can hear complaint stemming from bankruptcy proceedings
The Indiana Court of Appeals has instructed the Delaware Circuit Court to hear a case stemming from the sale of interests in a bankruptcy proceeding after determining that the trial court has jurisdiction over the complaint.
Bankruptcy trustee appears poised to sue former ITT brass
ITT Educational Services Inc.’s bankruptcy trustee has launched a no-holds-barred investigation into the defunct company’s business practices—a move that appears likely to pave the way for her to sue former officers and directors, including CEO Kevin Modany and Chief Financial Officer Kevin Fitzpatrick.
Majority: Attempt to collect stale debt not deceptive
The 7th Circuit Court of Appeals was divided Wednesday over whether debt collectors violated the Fair Debt Collection Practices Act when they attempted to collect stale debts in Chapter 13 bankruptcy proceedings.
COA: investors owed reimbursement
Although a reversal in the Indiana Court of Appeals handed an investment firm a reimbursement, the amount of funds to be returned is unknown since the trial court was left to figure the sum.
Ties to Florida firm burn Indiana lawyers
Small-town lawyer Justin Wall argues in his discipline case that he’s fighting not just for his career, but for the livelihoods of his Huntington co-workers and the needs of his community after he tried to drum up business with a regretful decision to answer a Craigslist ad four years ago.
Court ruling opens GM to billions of dollars in death, injury claims
A federal appeals court ruling that General Motors can't use its 2009 bankruptcy to fend off lawsuits over faulty and dangerous ignition switches exposes the automaker to billions of dollars in additional liabilities, according to legal experts.
7th Circuit tosses legal fees suit arising from bankruptcy case
An unsecured creditor’s lawsuit against two law firms over legal fees collected for services provided to a bankrupt Fort Wayne company’s estate should not have proceeded, the 7th Circuit Court of Appeals ruled Friday.
High court rules against Puerto Rico in debt case
Puerto Rico can't use a local law to restructure the debt of its financially ailing public utilities as it tries to overcome a decade-long economic crisis, the U.S. Supreme Court ruled Monday.
Coal mine environmental risk grows with bankruptcies
As more coal companies file for bankruptcy, it’s increasingly likely taxpayers will be stuck with the very high costs of preventing abandoned mines from becoming environmental disasters.
Bankruptcy filings take further plunge
Personal and business bankruptcies nationwide reached the lowest point since 2006, according to statistics released Thursday by the federal courts.
Peabody, largest US coal miner, files for bankruptcy
Peabody Energy, the nation’s largest coal miner, filed for bankruptcy protection Wednesday as a crosscurrent of environmental, technological and economic changes wreak havoc across the industry.
Republic, Delta settle lawsuit, strike deal to continue flights
Delta Air Lines Inc. has settled its lawsuit against Republic Airways Holdings Inc. in which it accused the Indianapolis-based carrier of failing to operate a full schedule of flights as promised.
Northern District case filings plummet, federal courts report shows
Case filings in the U.S. District Court for the Northern District of Indiana fell 43.9 percent between 2014 and 2015, according to statistics released Tuesday in the 2015 Judicial Business of the United States Courts report.
7th Circuit: Developer’s appeal is frivolous
The 7th Circuit Court of Appeals ruled a man’s claim that the National Bank of Indianapolis covered up unauthorized transfers is frivolous and said the bank can pursue sanctions against the man because of it.
50 Cent’s online photos with cash interest bankruptcy judge
Rapper 50 Cent has been ordered to appear in bankruptcy court in Hartford, Connecticut, to explain photos showing him with wads of cash.
Lawsuits deluge operator of towing business
Brian Fenner had big plans for his Indianapolis towing company, Sperro Towing and Recovery. His goal was to build a national network of bankruptcy attorneys who would let him know if a struggling client had a vehicle they couldn’t afford to keep. But the plan, which he appears to have hatched at least two years ago, quickly ran into trouble.