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Bankruptcy discharge. A bankruptcy discharge is a court order that releases an individual or business from specific debts and obligations they owe to creditors. In other words, it's a legal process that eliminates the debtor's liability to pay certain types of debts they owe before filing the bankruptcy case. [1]
Key takeaways. Bankruptcy can give you a fresh start by restructuring your debts or liquidating some of your assets, but it can ruin your credit. Debt consolidation combines several debts into one ...
Harrington v. Purdue Pharma L.P., 603 U.S. ___ (2024), is a United States Supreme Court case regarding Chapter 11 of the Bankruptcy Code. [ 1] This case is about the settlement by Purdue Pharmaceutical for opioid victims who overdosed with the OxyContin drug produced by their company. The justices determined that the Bankruptcy Code does not ...
Adversary proceedings may be filed by the bankruptcy trustee or by other parties. For example, a creditor may file an adversary proceeding to object to the debtor's discharge. Or, a debtor may commence an adversary proceeding against a creditor as a response to a violation of the automatic stay. Very commonly, the debtor-in-possession in a ...
The settlement affects borrowers who had private student loans with Navient that were discharged in bankruptcy. Eligible borrowers identified by Navient will receive notices and debt relief will ...
August 12, 2024 at 8:01 AM. New Mexico’s environmental regulators have withdrawn a $1.2 million fine against El Paso Water as part of a settlement of the lawsuit filed by the city-operated water ...
Means test. DIP. v. t. e. In United States bankruptcy law, an automatic stay is an automatic injunction that halts actions by creditors, with certain exceptions, to collect debts from a debtor who has declared bankruptcy. Under section 362 of the United States Bankruptcy Code, [1] the stay begins at the moment the bankruptcy petition is filed.
A U.S. judge has dismissed an involuntary bankruptcy case against Mexican broadcaster TV Azteca, controlled by Mexican billionaire Ricardo Salinas Pliego, stemming from a petition filed by ...