When a business becomes unable to meet obligations such as employee salaries, day to day invoices, and bank debt, management may turn to Bankruptcy law to liquidate or reorganize. As a rule, Courts prefer reorganization over liquidation, provided reorganization would be viable, preserve jobs, keep assets productive, and enhance the local economy. To begin with...Read More
This post was prepared by yours truly, with contributions from Phil Bradford, a financial web content writer. Phil graduated from New York University School of Law and recently joined Herald University as a reporter. He has also written for websites such as debtfreeguys.com and disabilitycanhappen.org An now, on with the post… Those who’ve exhausted their financial options or...Read More
In May 2013 a Wisconsin Court determined that Trentadue committed “signiﬁcant over‐trial” and ordered that he contribute $25,000 toward his ex‐wife’s Attorneys' fees. Trentadue filed Bankruptcy. The Bankruptcy Court, District Court, and Court of Appeals agreed that the $25,000 was nondischargeable as a Domestic Support Orbligation.Read More
Richard Olson filed four Chapter 13 Bankruptcy Petitions and Plans in a five year period- the last one on the eve of the foreclosure of his home. The assignee of his original mortgage lender Bank of America objected to confirmation of his latest Plan on the basis that it failed to comply with the confirmation...Read More
A customer tries to hold the manufacturer of a product liable for its distributor's failure based on the "special relationship" between the distributor and manufacturer, as well as the customer's status as an alleged intended beneficiary of the arrangement. The 7th Circuit was having none of it.Read More
This week's post summarizes a recent article from Understanding the ABA, the blog maintained by Attorney William D. Goren. In Understanding the Burden of Proof When ADA Remediation Is at Issue, Goren discusses building and retrofitting ADA-compliant structures. Highlights of the article include:Read More
This case is a testament to the subprime crisis and illustrates how complex and devastating mortgage securitization and pooling was to ordinary homeowners; middle-class people faced with sudden and insurmountable mortgage debt. Sadly, this decision also illustrates just how hard it is to stand up to the holders of pooled mortgage loans.Read More
Continental Casualty Company v. Symons, et al. 7th Circuit Court of Appeals Citation: 14-2665, 14-2671 & 15-106 Decided: March 22, 2016 This fraudulent transfer case pits 2 insurance company’s – as well as the controlling family of the seller and their related businesses – against one another. despite some fancy footwork on the part of...Read More
Let us help you!
If you need any helps, please feel free to contact us. We will get back to you with 1 business day. Or if in hurry, just call us now.