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27 Dec 2023, 3:54 am
Typically, courts will not pierce the veil simply because a creditor will not otherwise get paid. [read post]
26 Dec 2023, 10:13 am
You Can Not Conceal Assets It is illegal to conceal or transfer assets with the intent to defraud creditors after filing for bankruptcy. [read post]
25 Dec 2023, 3:30 am
A debtor who completes his payments under a Chapter 13 plan is entitled to a discharge of the debt that is provided for by the plan. [read post]
23 Dec 2023, 1:41 pm
While the trustee’s explanation of benefits to creditors was lacking, a carve-out and the assets’ lack of value justified approval. [read post]
22 Dec 2023, 2:51 pm
There is No Creditor’s Committee (in Most Cases) Another major difference between Subchapter V small business bankruptcies and traditional Chapter 11 cases is the absence of a creditors’ committee. [read post]
22 Dec 2023, 9:18 am
If the IRS claim is substantially upheld, there may be no money left to distribute to creditors and customers under FTX’s bankruptcy plan. [read post]
22 Dec 2023, 6:57 am
This data includes financial data, which is often part of clients’ efforts to protect their assets and guard against creditors, lawsuits, and other financial losses. [read post]
22 Dec 2023, 3:52 am
Note: In some states, a single-member LLC does not enjoy the same protection from the member’s personal creditors. [read post]
22 Dec 2023, 2:44 am
Notice to Creditors – The executor must publish a notice in order to notify any potential creditors of the estate administration. [read post]
22 Dec 2023, 2:30 am
An irrevocable trust shields assets from creditors and legal claims, providing an added layer of security for the grantor’s intended beneficiaries. [read post]
21 Dec 2023, 6:46 am
In the event of a bankruptcy or lawsuit, creditors can go after the personal assets of the owners. [read post]
21 Dec 2023, 6:02 am
If the personal loan is secured and you want to keep the collateral (like a car), you must continue making payments or pay the creditor the value of the collateral. [read post]
20 Dec 2023, 2:58 pm
We do not think offering every creditor a veto right on changing the debtor’s selected jurisdiction will lead to greater efficiency; that is simply a re-invention of the U.S. [read post]
20 Dec 2023, 11:33 am
Sometimes unsecured claims are paid in full, but more often they are paid pennies on the dollar of what the creditor is owed. [read post]
20 Dec 2023, 6:09 am
Asset protection strategies ensure that your hard-earned business assets are secure from potential threats like lawsuits, creditors, or unforeseen circumstances. [read post]
19 Dec 2023, 9:05 pm
Unsecured debt of distressed companies is a popular investment for certain hedge funds, not least because it often allows the funds to serve on a distressed company’s unsecured creditors’ committee (UCC) shortly after the firm files for Chapter 11 bankruptcy. [read post]
19 Dec 2023, 4:15 pm
Asset Protection: Assets held within an IDGT may be shielded from creditors and potential legal claims, providing an added layer of protection. [read post]
19 Dec 2023, 9:47 am
If a court allows a creditor to seize property to satisfy a debt If a court grants someone a judgment against you, and you don’t pay, the creditor may obtain a court order to seize your property to pay off the debt. [read post]
19 Dec 2023, 6:09 am
Additionally, creditors and debtors can access assets in a pour-over will that they cannot access when those same assets are in a trust. [read post]
19 Dec 2023, 6:00 am
Debt settlement, on the other hand, involves negotiating with creditors to accept less than what you owe. [read post]
