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Archive for March 2014

Exempt Assets Can’t Be Surcharged Due To Debtor Misconduct

By Admin | March 1, 2014

A bankruptcy court may not order that a debtor’s exempt assets be used to pay administrative expenses incurred as a result of the debtor’s misconduct, the U.S. Supreme Court has held.

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Appellate Court Issues Valuable Primer On Liquidated Damages Clauses in Contracts

By Admin | March 1, 2014

An Appellate Court panel in Chicago has issued a valuable primer on when liquidated damages clauses will be deemed permissible and impermissible under Illinois law.

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