Blog
Dean J. Richard Leonard's Plans to Reach Out to the Local Community
The Triangle Business Journal recently interviewed J. Richard Leonard, Dean of Campbell University’s Norman A. Wiggins School of Law and former bankruptcy judge for the Eastern District of North Carolina. When questioned about his plans for the law school’s future,…
June 2013 Filings in the Eastern District of North Carolina
In the month of June 2013, 593 bankruptcy cases were filed in the Eastern District of North Carolina, which consists of 44 counties in North Carolina. Those filings included 167 Chapter 7 cases, 9 Chapter 11 cases and 417 Chapter…
Welcome Back Twinkies!
After Hostess Brand filed for Chapter 11 bankruptcy back in May 2012 and later began liquidating its assets in November 2012, many wondered what would become of Twinkies, the cream-filled sponge cakes that have been a delicious guilty pleasure for…
A Review of the Bankruptcy Judge Appointment Process
With a “Notice of Vacancy for the Position of United States Bankruptcy Judge” currently posted in the Eastern District of North Carolina, the Sasser Law Firm found a recent report issued by the Institute for the Advancement of the American…
Tangible Personal Property in Bankruptcy Cases
What might happen to tangible personal property is a frequent inquiry we receive from individuals considering a bankruptcy filing. Tangible personal property is distinct from real estate or intangible assets such as financial instruments, receivables, intellectual property, etc. In the reorganization chapters…
You're In Good Company
Did you know that Presidents of the United States of American are not immune to financial catastrophe? That’s right, Thomas Jefferson, Abraham Lincoln, Ulysses S. Grant and William McKinley each availed themselves to various degrees in the insolvency protection America’s…
Creditor Harassment and Violation of the Automatic Stay in the Age of Social Media
As if filing for bankruptcy is not emotionally challenging enough, some debtors are feeling the effects of creditor intimidation through Facebook and other social networking media. In the age of social media, creditors have found a new way to hound and…
Supreme Court Decides Meaning of Defalcation
The US Supreme Court has decided the meaning of defalcation for purposes of dischargeability actions filed under section 523(a)(4) of the bankruptcy code. A dischargeability action must be brought by adversary proceeding by a creditor within 60 days of the initial setting of…
May 2013 Bankruptcy Filing Statistics for the Eastern District of North Carolina
Last month in May 2013, 695 new bankruptcy petitions were filed with the court in the Eastern District of North Carolina. Of those cases filed, 231 cases were Chapter 7, 13 cases were Chapter 11 and 450 cases were Chapter 13. …
Short Sales
Although short sales are common, the benefit for a homeowner who has received (or expects to receive) a bankruptcy discharge is much less clear. The bankruptcy discharge eliminates the homeowner’s personal liability on the mortgage loan and the potential tax…
