This article provides a detailed examination of the structure, sources, and ultimate content of the Islamic law of distressed debt. With specific illustrations from the Qur'an, sunna, and fiqh (Islamic jurisprudence), it orients non-specialists on the path to understanding where Islamic law comes from, how it is structured, and what its most salient provisions say about the proper treatment of insolvent debtors.
Summary:
The Trustee sought a 2004 Exam and documents from First Citizens Bank ("FCB"), based on a belief that the Debtor had used a checking account at FCB in connection with a Ponzi scheme. FCB sought to quash this discovery, arguing that the Trustee was on a fishing expedition to establish claims against FCB in relation to the alleged scheme.
Summary:
Croatan Surf Club filed a single asset real estate Chapter 11, with such real estate subject to a lien by Royal Bank America ("RBA"). In compliance with 11 U.S.C. § 362(d)(3), Croatan filed a Second Amended Plan within 90-days of filing the bankruptcy, but RBA sought relief from stay, arguing that such plan was patently unconformable and was also nullified by the filing of a Third Amended Plan, outside of the 90-day window.
The Debtor sought approval of the settlement of an Equitable Distribution, conducted in Maine, that would have allowed her to transfer funds into exempt IRAs, arguing that an Equitable Distribution rights are not property rights and therefore not an asset of the bankruptcy estate. The Trustee objected.
 Summary:
Finch leased a room from Campus Habitat and asserted that Campus Habitat breached their lease, causing her to move out. Campus Habitat responded and counterclaimed, receiving judgment for damages and, pursuant to the lease, attorneys’ fees.