The automatic stay triggered by a bankruptcy filing may protect the debtor’s residence even if the debtor does not own the property, according to a recent decision from a New York-based federal appeals court....more
Bankruptcy preference claims are viewed by businesses as an unfair legal tool that debtors and trustees use to take money back, even though the pre-bankruptcy payments from the debtor were for legitimate business debts. By...more
The potential tax consequences to a debtor and tax reporting obligations of a creditor can become a contentious issue when settling disputed debts, although the issue often arises as an afterthought once the primary...more
A common misconception recently is that bankruptcy filings are at an all-time high. It’s an understandable assumption when the news is saturated with stories about store closures and unemployment spawned by the COVID...more
Disputes between members of a family-owned or closely-held business or parties to a long-standing business relationship are similar to divorces in many ways - emotions run high and the parties may need to keep working...more
In turbulent economic times, clients often ask us how they can find out whether a particular company or person is in bankruptcy. While we can run quick searches for this information, there are ways you can find this...more
When a creditor is the target of a bankruptcy trustee or debtor’s claim to take back money the debtor paid on a legitimate debt prior to the bankruptcy filing, it’s bitter justice. The concept is fair enough: pulling funds...more
Signing the Family Farmer Relief (FFR) Act of 2019 was like opening a pressure release valve. American farmers have suffered increasing financial stress this year from numerous sources, so a change in the law making Chapter...more
If you have ever been a creditor concerned about a debtor not paying debts as they become due or paying other creditors while ignoring your demands, then forcing the debtor into an involuntarily bankruptcy may be an option....more
A chart providing an overview and comparison of the major facets of an individual Chapter 11 reorganization case, a Chapter 12 adjustment of debts of a family farmer or fisherman with regular annual income, and a Chapter 13...more