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9 Jun 2022, 5:30 pm
The defendant only becomes aware of the judgment when the creditor begins to enforce the judgment through a bank levy or a garnishment. [read post]
9 Jun 2022, 11:46 am
This may allow you to receive credit in situations where a creditor would not otherwise approve you for a loan. [read post]
9 Jun 2022, 7:43 am
Your creditors will likely fight back against your attempts to discharge that debt and it will just cause more problems. [read post]
9 Jun 2022, 7:41 am
The creditor then sues the sole shareholder of the corporation for $157,370. [read post]
9 Jun 2022, 3:03 am
Trusts are popular asset transfer vehicles that allow you to avoid probate and keep assets out of the hands of creditors. [read post]
7 Jun 2022, 5:45 am
The Illinois Court of Appeals, First District, recently affirmed a trial court’s order granting summary judgment in favor of a creditor against a guarantor, finding that the guaranty was continuing and therefore applied to a later note obligation, even though the note was issued some two years after the guaranty. [read post]
6 Jun 2022, 4:27 pm
For example, the largest U.S. centralized exchange recently disclosed that its users would be at risk of becoming unsecured creditors if the exchange were to file for bankruptcy. [read post]
6 Jun 2022, 10:53 am
When assessing the nature of the assets, it is important to consider whether there any non-exempt assets, such as large amounts of cash, stocks, bonds, or expensive jewelry, that could be subject to a judgment creditor’s claims, whether one or both parties can become judgment-proof after the assets are divided, and whether one of the parties can remain liable on a debt secured by an asset awarded to the other party. [read post]
6 Jun 2022, 9:01 am
Most importantly, she pointed out that “[i]ncreasing mandatory fees paid out of the debtor’s estate decreases the funds available for payment to creditors,” which affects the central substance of the bankruptcy proceeding — “obligations between creditors and debtors are changed. [read post]
6 Jun 2022, 6:45 am
Suppose an employee has a stock purchase plan with his employer under IRS Code 423. [read post]
6 Jun 2022, 3:43 am
After the dispute arose, the creditor lodged arbitration requests against both the debtor and the guarantor, the tribunal ruled in creditor’s favor after tribunal proceedings started. [read post]
6 Jun 2022, 2:05 am
Plan assets are held in a trust account that puts the funds outside the reach of creditors. [read post]
5 Jun 2022, 9:01 pm
The American corporate law model has facilitated creative business development in cutting-edge industries for generations, while providing credible and important protection to investors, creditors, and other stakeholders. [read post]
5 Jun 2022, 5:48 pm
” John Hyde, “Parabis: unsecured creditors set to lose £46m as scale of collapse laid bare,” Law Society Gazette, Jan 6, 2016. [read post]
3 Jun 2022, 9:44 am
However, Canadian case law supports the idea that a corporation’s directors may consider broader stakeholders including shareholders, employees, creditors, consumers, governments and the environment in exercising their duty to act in the best interests of a corporation. [read post]
3 Jun 2022, 9:44 am
But, the trial court notes that husband never made any payments to the two creditors (Worthington and another named Shapiro) and that there was no loan documentation submitted to the court at trial nor were these debts carried by the accountant on the business balance sheet. [read post]
3 Jun 2022, 9:41 am
Notifying creditors and heirs: Executors are responsible for providing ample notice to creditors and heirs that the testator of the will has passed away. [read post]
3 Jun 2022, 6:59 am
Fraudulent debts - If a person obtained credit or took out loans through false pretenses, such as by knowingly providing false information to a creditor, these debts may not be discharged. [read post]
3 Jun 2022, 6:06 am
In situations where the parent is concerned the adult child is financially irresponsible, they can have a “spendthrift clause” put on the trust that bars any current or future creditors that adult child may owe from attaching the funds in the trust. [read post]
2 Jun 2022, 6:09 am
It found that the Rule’s regulatory history also demonstrated that the FTC expected that buyers would be able use the Holder Rule not only to assert defenses against creditor claims but also to pursue affirmative litigation against holders for seller misconduct. [read post]
