Bankruptcy Law News and Insights

The House of Delegates for the American Bar Association recently passed Resolution 512 urging Congress to amend the Bankruptcy Code to permit student loans to be discharged in bankruptcy without proving "undue hardship" as is currently required. The resolution was co-sponsored by the Young Lawyers Division, the Law Student Division...

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The Situation: In Homaidan v. Sallie Mae, Inc., et al.,  the U.S. Court of Appeals for the Second Circuit recently affirmed that certain types of private student loans are not "obligation[s] to repay funds received as an educational benefit, scholarship, or stipend" that are exempt from discharge in bankruptcy absent an undue hardship....

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The primary investment thesis of a private credit lender is simple — get the loan repaid at maturity. Private credit lenders do not make loans as a means to acquire their borrower's business. There are circumstances, however, where private credit lenders must be prepared to take ownership when the borrower...

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