August 2023

Sandy Hook Families Say Alex Jones Cannot Hide Behind Bankruptcy

Lawyers for the Sandy Hook families who won historic defamation damages against the Infowars conspiracy theorist Alex Jones told a federal bankruptcy judge in Houston on Tuesday that Mr. Jones should not be allowed to use his Chapter 11 filing to evade $1 billion-plus verdicts made against him.

The families asked that the judge, Christopher Lopez, order Mr. Jones to pay them the full damage awards, with no possibility of a trial or a forced settlement over a lesser amount — in legal terminology, to make Mr. Jones’s debts to the families “non-dischargeable” through bankruptcy. If the judge rules in the families’ favor, Mr. Jones would likely be working the rest of his life to pay the debt.

Mr. Jones spent years spreading lies that the 2012 shooting that killed 20 first graders and six educators at Sandy Hook Elementary School in Newtown, Conn., was a hoax aimed at gun control. Families of 10 victims sued him for defamation, and in trials in Texas and Connecticut were awarded about $1.4 billion in damages. As the cases went to trial, Infowars declared bankruptcy, and Mr. Jones declared personal bankruptcy late last year.

The families have been fighting him in bankruptcy court

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August 16, 2023 by ATTORNEY

Purdue Pharma bankruptcy plan halted by SCOTUS

The U.S. Supreme Court on Thursday temporarily blocked Purdue Pharma’s plan to emerge from bankruptcy that shielded the founding Sackler families from liability in the nation’s opioid epidemic.

The application for a stay, brought by the U.S. Department of Justice, was presented to Justice Sonia Sotomayor and referred by her to the wider court, which agreed to hear argument on whether the nation’s bankruptcy laws allow a court to approve, as part of a plan of reorganization under Chapter 11, a release from litigation for third parties who are not themselves filing for bankruptcy.

A bankruptcy court judge had approved the reorganization plan for Purdue Pharma that reconstituted the company under another name while paying out billions of dollars to cities, states and Native American tribes afflicted by the opioid crisis — and insulated the descendants of the founding Sackler brothers from liability claims.

A federal judge in New York initially blocked the reorganization, however, ruling that bankruptcy laws do not allow liability shields to be given to parties that aren’t actually filing for bankruptcy.

An appellate court disagreed, reinstating the bankruptcy plan, and the DOJ asked the U.S. Supreme Court to intervene.

In a statement, Purdue Pharma

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August 12, 2023 by ATTORNEY

Bankruptcy Unveiled: Demystifying the Process and Exploring the Road to Financial Resurgence

Bankruptcy is a legal process that can help individuals and businesses struggling with overwhelming debt to regain control of their finances.

While the word “bankruptcy” often carries negative connotations, it is essential to understand that it is not the end of the road, but rather a fresh start towards financial resurgence. In this article, we will demystify the bankruptcy process, shedding light on its different types, procedures, and the road to financial recovery.

Understanding Bankruptcy: A Fresh Start

Bankruptcy, at its core, is a legal mechanism designed to provide debtors with a fresh financial start when they are unable to repay their debts. It offers protection and relief from creditors, allowing individuals and businesses to reorganize their finances or obtain debt discharge, depending on the bankruptcy chapter they file under.

Chapter 7 Bankruptcy: Liquidation and Debt Discharge

Chapter 7 bankruptcy, often referred to as “liquidation bankruptcy,” involves the sale of non-exempt assets to repay creditors. However, it’s important to note that not all assets are subject to liquidation, as certain exemptions are in place to protect necessary items like a primary residence, personal belongings, and retirement accounts. Once the liquidation process is complete, eligible debts are typically discharged,

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August 11, 2023 by ATTORNEY

Yellow’s Bankruptcy Will Test Obligation to Teamsters Contract

The anticipated bankruptcy of trucking giant Yellow Corp. stands to have a major impact on collective bargaining agreements that cover roughly 22,000 workers, offering a chance to test when union contracts can survive insolvency proceedings.

Bankruptcy law contains provisions that arguably give unions more leverage to fight to keep their contracts in place as the company decides how to pay creditors, reorganize, or wind-down. Businesses, for example, generally face a higher bar to reject a bargaining agreement during a Chapter 11 proceeding than some other types of contracts.

Those measures will likely come into play between Yellow and the Teamsters, which represents a large swath of the company’s 30,000 workers. The union threatened to go on strike last month after the company initially failed to make a $50 million payment for employee benefits.

On Monday, the union said it was served with a legal notice that the Nashville, Tenn.-based company is ceasing operations and liquidating.

Teamsters General President Sean M. O’Brien called the news “unfortunate but not surprising.”

“Yellow has historically proven that it could not manage itself despite billions of dollars in worker concessions and hundreds of millions in bailout funding from the federal government,” O’Brien said.

In June,

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August 8, 2023 by ATTORNEY

New Jersey Bankruptcy Attorney Daniel Straffi Releases Insightful Article on Bankruptcy Filing Frequency

Daniel Straffi (https://www.straffilaw.com/how-often-can-you-file-for-bankruptcy-in-new-jersey/), a reputable New Jersey bankruptcy attorney from the law firm Straffi & Straffi Attorneys at Law, has released a comprehensive article titled, ‘How Often Can You File for Bankruptcy in New Jersey?’. The article offers a deep dive into the complex world of bankruptcy laws, outlining the frequency of bankruptcy filings and the potential implications on one’s financial wellbeing.

Straffi, a seasoned New Jersey bankruptcy attorney, offers a wealth of knowledge in guiding clients through the intricate process of bankruptcy. His latest article is a testament to his commitment to informing and guiding the public on the laws and regulations specific to New Jersey.

“Understanding the frequency of bankruptcy filings in New Jersey is crucial to navigate the process effectively and make informed decisions,” states New Jersey bankruptcy attorney Daniel Straffi. “Knowing about the limitations of how often an individual can file for bankruptcy is important as it allows them to avoid any issues with restrictions and avail of the benefits for filing in a timely manner.”

The article provides a detailed overview of both Chapter 7 and Chapter 13 bankruptcy, including eligibility criteria, New Jersey’s specific exemptions, the means test, automatic stay, and more.

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August 7, 2023 by ATTORNEY
August 2023
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