Recently, I took on a case that involved a non-dischargeability action. They debtor had been accused of shorting his company some money and the other officers and directors were objecting to the discharge of the debt in the bankruptcy proceeding.
However, what the creditor’s didn’t realize is that the standards for dischargeability for false pretenses is much different than that in State Court.

The former executive of kosher meat-packing plant Agriprocessors faces up to 27 years in prison if federal prosecutors get their way.

 RLI Ins. Co. v. Waters (In re Waters), Adv. No. 09-5014, 2009 Bankr. LEXIS 3865 (Bankr. M.D. Ga. Dec. 7, 2009) (J. Hershner). Debtor was the guardian of his minor son, who was injured in a car accident and received $15,522.74 in settlement proceeds.  Plaintiff was the issuer of a surety bond in the amount of $16,000 the probate case.

In Matter of Seaquest Diving, L.P., No. 08-20516 (5th Cir. 8/12/09), the Fifth Circuit considered whether a state court judgment based on a dispute between partners was subject to mandatory subordination under 11 U.S.C. Sec. 510(b) because it arose from the recission of a purchase or sale of a security of the debtor. The court found that mandatory subordination applied.

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This was a banner decade for big bankruptcy.
Of the 20 largest corporate bankruptcy filings in history, all but three of them occurred in the last decade.
The 2000s featured three businesses with more than $100 billion in assets filing for bankruptcy. All the companies in the list here held more than $30 billion in assets.

It's been a rough decade economically, and not even celebrities were immune from financial turmoil. Some of the names on this list were no longer in the spotlight, while others encountered difficulty at the peak of their fame.
This list includes those who filed on personal debts as well as celebrity business owners who used bankruptcy to protect their brand.

If you weren’t familiar with the name “Ponzi” last year, you sure learned it quickly this year, along with the names “Madoff,” “Dreier,” “Petters,” and all the others who

Late last week, the U.S. House of Representatives voted to approve a bill that introduces a spate of consumer protection measures.
The amendment that would have permitted homeowners to address foreclosure in bankruptcy by altering the terms of mortgage loans (in what’s known as “cramdowns”), though, did not make the cut.
Provisions of the Bill
The Wall Street Reform and Consumer Protection Act, as it’s known, includes the following provisions: