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1 Sep 2023, 8:00 am
The bankruptcy process is meant to serve both debtors and creditors. [read post]
1 Sep 2023, 3:30 am
Trustee Program jurisdictions will be transitioning to virtual Section 341 meetings of creditors in Chapter 7, 12, and 13 cases. [read post]
31 Aug 2023, 12:04 pm
“The doctrine of subrogation presupposes the payment of a debt by a party secondarily liable therefore, who thereby acquires an equitable right to be reimbursed by the principal debtor and for the purpose of making this right effective is invested with all the rights which the creditor had against him (the principal debtor). [read post]
31 Aug 2023, 9:42 am
These defenses allow creditors to protect their claims—even if the business negotiates a reorganization plan with its other creditors. [read post]
31 Aug 2023, 8:36 am
By Anthony P. [read post]
31 Aug 2023, 8:36 am
By Anthony P. [read post]
31 Aug 2023, 6:11 am
” “The lawyers, bankers and consultants who steer major chapter 11 cases must file declarations in bankruptcy court disclosing any connections to the business, its creditors and any other interested parties when they seek court approval to be retained. [read post]
31 Aug 2023, 5:56 am
International military spending and aid became the biggest creditors of “rent” for Afghanistan, by large margins. [read post]
31 Aug 2023, 5:00 am
Prior to the HAVEN Act – from 2005 to 2019 – the federal Bankruptcy Code commonly required veterans to give up their VA disability benefits to creditors to […] The post Are VA Benefits Exempt from Bankruptcy? [read post]
31 Aug 2023, 4:43 am
As stated in the explanatory notes for the first draft amendment to the Company Law, the current law provides the fundamental and theoretical legal framework for companies; however, it lacks detailed rules, in particular, in the areas of directors’ liabilities and the protection of shareholders and creditors. [read post]
30 Aug 2023, 5:51 pm
Some of the more common risks include: Divorce Creditors Excessive spending High tax obligations Lawsuits The person setting up the trust is called the grantor or the trustor. [read post]
30 Aug 2023, 4:54 pm
"Legislative Summary of Bill C-228: An Act to amend the Bankruptcy and Insolvency Act, the Companies’ Creditors Arrangement Act and the Pension Benefits Standards Act, 1985: "The bill amends the Bankruptcy and Insolvency Act (BIA) and the Companies’ Creditors Arrangement Act (CCAA) to ensure that claims in relation to shortfalls in defined-benefit pension plans are paid in priority in the event that an employer becomes insolvent. [read post]
30 Aug 2023, 7:15 am
When it comes to debt collection, creditors may face a number of challenges. [read post]
30 Aug 2023, 5:45 am
Asset Protection Strategies & Valuation Disputes Apart from dealing with matters related to real estate investments, effective wealth preservation strategies should include robust measures aimed at protecting assets against future creditors or lawsuits which could potentially erode the value of your portfolio over time. [read post]
30 Aug 2023, 5:32 am
Negotiate with Creditors Contact your creditors and let them know you’re having trouble paying your debts. [read post]
29 Aug 2023, 6:31 pm
They can also expedite the process by effectively communicating with your creditors and the court. [read post]
29 Aug 2023, 1:11 pm
" Nicely linking the two contrasting accounts from China and Spain, the Bank of Spain paper concludes, "This finding also suggests that a starkly pro-creditor personal bankruptcy law with no real fresh start, like the Spanish one before 2015, may be an important barrier to entry for small businesses. [read post]
29 Aug 2023, 1:02 pm
For obvious reasons, claimants and creditors want to establish that the D&O insurance policy exists for their protection and benefit. [read post]
29 Aug 2023, 6:00 am
You may be required to sell some of your non-exempt assets to pay off creditors. [read post]
28 Aug 2023, 8:04 am
The creditor sends the garnishment release to the Sheriff. [read post]