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26 Oct 2020, 6:47 am
Second, the “other facts” identified by the Revenue Ruling as having the potential to cause estate tax inclusion if combined with a discretionary reimbursement power are addressed either by existing Florida law or by the proposed statute itself: [F.S. 736.0505(1)(c)] already provides that the trustee’s power to reimburse the grantor for income taxes paid in respect of trust income will not cause the trust assets to be subject to the claims of the grantor’s creditors.… [read post]
26 Oct 2020, 5:12 am
However, an “undertaking” within the scope of the Non-Financial Reporting Directive refers to the provisions of the Accounting Directive (2013/34/EU), which has another purpose, i.e. investor and creditor protection, and is, therefore, restricted to certain types of limited liability companies. [read post]
23 Oct 2020, 8:45 am
Payment accounts of a creditor and debtor are identified and an amount from the debtor to the creditor is transferred and recorded automatically. [read post]
23 Oct 2020, 8:27 am
Much of the time, creditors are not in attendance. [read post]
23 Oct 2020, 8:27 am
Much of the time, creditors are not in attendance. [read post]
23 Oct 2020, 8:05 am
They are clunky for most small businesses or may not offer as much protection or any protection for owners against business creditors. [read post]
23 Oct 2020, 5:01 am
Information about a decedent would also be held by the relevant probate court, creditors of the estate, and others involved in the administration of the estate. [read post]
23 Oct 2020, 1:44 am
Statutory Debt Repayment Plan (SDRP): This measure builds on existing legislation to enable the Government to impose SDRPs on creditors and to provide for a charging mechanism by which creditors will contribute to the funding of the Breathing Space Scheme (both Breathing Space and the SDRP). [read post]
22 Oct 2020, 8:16 am
In addition to the fact that you would be restraining the beneficiary, there would never be anything available to creditors. [read post]
22 Oct 2020, 8:11 am
” “Golden also argued that leading up to its bankruptcy, O’Melveny was improperly receiving payments and ‘enjoyed the benefit of insider-like status’ at a time when other creditors were going unpaid. [read post]
21 Oct 2020, 12:51 pm
For example, the Transfer on Death Deed statute permits allows the personal representative or creditor of the estate to claw a piece of property transferred by Deed, whereas no such rules applies to Lady Bird Deeds. [read post]
CFPB and FTC file joint amicus arguing consumers not applying for credit are “applicants” under ECOA
21 Oct 2020, 11:09 am
The ECOA defines an “applicant” to mean “any person who applies to a creditor directly for an extension, renewal, or continuation of credit, or applies to a creditor indirectly by use of an existing credit plan for an amount exceeding a previously established credit limit. [read post]
21 Oct 2020, 9:00 am
For example, the Transfer on Death Deed statute permits allows the personal representative or creditor of the estate to claw a piece of property transferred by Deed, whereas no such rules applies to Lady Bird Deeds. [read post]
21 Oct 2020, 7:33 am
In the past, when amending Regulation Z the Federal Reserve Board often permitted creditors to implement the amendments on the effective date of the final rule, and required creditors to implement the amendments by a later mandatory compliance date. [read post]
21 Oct 2020, 2:05 am
In a Chapter 13 bankruptcy filing, you’ll be making payments to creditors for three to five years to pay off your debts. [read post]
20 Oct 2020, 6:00 am
While this trend may be encouraging for some borrowers who may wish to discuss possibility of including portability clauses in loan arrangements with their creditors, inclusion of such clauses will depend on the circumstances of the borrower and the loan arrangement. [read post]
19 Oct 2020, 11:44 am
These pre-packaged plans are negotiated in advance with the “Secured” creditors, and typically burn bond holders like our clients. [read post]
19 Oct 2020, 10:16 am
In Chapter 7, a bankruptcy trustee looks at your assets to see if there is anything they can liquidate to pay your creditors. [read post]
17 Oct 2020, 1:41 pm
The stay is broad, powerful, and effective whether or not creditor parties have notice of the stay. [read post]
17 Oct 2020, 2:09 am
Professor Jeremy McClane’s paper, Reconsidering Creditor Governance in a Time of Financial Alchemy, was just published by the Columbia Business Law Review and it’s a doozy. [read post]