Bankruptcy Law Section

The Bankruptcy Law Section focuses on issues involving bankruptcy law. The section’s executive committee develops projects for its members ranging from legislative proposals to their annual two-day Bankruptcy Forum and associated social events.

Chair
Scarborough & Fulton
701 Market St #1000
Chattanooga, TN 37402
(423)648-1880
Immediate Past Chair
Sherrard Roe Voigt & Haribson
150 3rd Ave S #1100
Nashville, TN 37201
(615)742-4532

Tennessee Leads Nation in Personal Bankruptcies

By several metrics, Tennessee’s economy is one of the nation’s healthiest, but a recent study found that it also leads in personal bankruptcy filings. Between April 2015 and March 2016, the financial website NerdWallet found that the state had a rate of 553 filings per 100,000 residents. The national median during the same period was 224 filings per 100,000. The study also found that most filings were concentrated in the Memphis and Chattanooga areas. The Nashville Business Journal has more on the findings.

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Court: Bankruptcy No Shield for GM Ignition Switch Claims

The U.S. Second Circuit Court of Appeals today struck down bankruptcy decisions that shielded General Motors from liability related to ignition switch defects, Reuters reports. The court found that a 2009 sale of the automakers’ assets, which provided the company with legal cover, violated potential victims’ rights to due process. The ruling effectively rebuffs GM’s attempts to block hundreds of customer lawsuits over faulty ignition switches that led to criminal charges and prompted the recall of 2.6 million vehicles in 2014.

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