federal courts

Knowing When to File for Bankruptcy

Knowing When to File for Bankruptcy

Life doesn’t always go according to plan. You may have needed to take on debt that outgrew your ability to pay it off each month. Now you’re wondering how to get your financial situation back in order.

Knowing When to File for Bankruptcy

Due – Due

Knowing when to file for bankruptcy is a valuable skill for individual consumers and small-business owners. Learn more about it and determine if it’s the best move for your financial needs.

What Is Bankruptcy?

Bankruptcy is a legal process begun by people who have too much debt. They must sign a federal petition that considers their outstanding financial obligations or debts before requesting that their creditors work with them to resolve their debt with any remaining assets.

What Are the Types of Bankruptcy?

People can accrue too much debt as individual consumers or business owners, so numerous types of bankruptcy exist to address those situations. These are the specific chapters outlined in the U.S. bankruptcy code that you may consider if you find yourself unable to repay debts.

Chapter 7: Individual Liquidation

Most people who need to claim straight bankruptcy over personal debt will file under Chapter 7. A federal court appoints a trustee to assist the individual with selling

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3M earplug bankruptcy creates “corrosive” tension with other courts, attorney says

The 3M logo is seen at its global headquarters in Maplewood, Minnesota. REUTERS/Nicholas Pfosi

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(Reuters) – A 3M Co subsidiary on Wednesday criticized the way federal courts have handled 290,000 consolidated lawsuits over allegedly defective earplugs it made for the U.S. military, saying that the “broken” legal system allowed claims to balloon and threatened the company’s ability to settle them.

3M subsidiary Aearo Technologies LLC pressed for, but did not get, a court order that would protect its parent company from the lawsuits at its first hearing in U.S. bankruptcy court in Indianapolis. Instead, it reached a more limited agreement with plaintiffs to pause work for three weeks, interrupting witness depositions and expert reports scheduled in the lawsuits, which have been consolidated in the largest-ever multidistrict litigation (MDL) in U.S. court.

Plaintiffs sued Aearo and 3M over the company’s Combat Arms Earplugs version 2 (CAEv2), claiming they are defective and damaged their hearing. The cases ballooned to a peak of more than 290,000 last year and now account for nearly one-third of all cases pending in all federal courts, according to a court filing.

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Mary Mancusi wins 2022 Smith-Doheny Legal Ethics Writing Competition | News | The Law School

Mary Mancusi wins 2022 Smith-Doheny Legal Ethics Writing Competition | News | The Law School

Mary Mancusi wins 2022 Smith-Doheny Legal Ethics Writing Competition | News | The Law School

Notre Dame Law School’s Program on Ethics, Compliance & Inclusion has announced that rising third-year student Marilyn “Mary” Mancusi is the winner of the 2022 Smith-Doheny Legal Ethics Writing Competition.

Mancusi’s paper, “Attorneys, E-Discovery, and the Case for 37(g),” addresses the concern that federal courts do not have a reliable and uniform system that allows them to impose sanctions on attorneys who violate e-discovery obligations.

Addressing the fact that much more evidence and information is now found through various electronic forms, and that attorneys play such a major role in the discovery process, Mancusi’s paper proposes a new rule be added to the Federal Rules of Civil Procedure. The rule defines a uniform, reliable system for federal courts to impose sanctions on attorneys who participate in e-discovery misconduct. 

Her paper also discusses the rise of e-discovery as digital technology became more prevalent, the ethical and common-law expectations that attorneys currently have in e-discovery, and the ways that federal courts have previously sanctioned attorneys for their role in e-discovery abuse.

Professor Veronica Root Martinez, director of the Law School’s Program on Ethics, Compliance & Inclusion, said, “Mary’s submission stood out for its timely topic, analytical rigor, and reasoned proposal. I am

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