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26 Apr 2024, 12:15 am
Further, the fact that creditors may be unable to collect should not necessarily imply that there has been a "prejudice to creditors" because creditors typically raise alter ego when the LLC or corporate defendant lacks the wherewithal to pay the creditor's claim in full. [read post]
25 Apr 2024, 9:16 am
The clock is ticking and you have to decide if you want to be chasing a buyer for claims or recovery, or perhaps worse yet be an unsecured creditor in a bankruptcy. [read post]
25 Apr 2024, 5:35 am
If the deceased did not have enough assets to pay off the debts, the creditors may require a sale of the assets of the estate to address the debt, but that’s it. [read post]
24 Apr 2024, 12:15 am
For example the Court of Appeal in a recent unpublished opinion accurately adjudged that LLCs are not governed by corporate statutes, but failed to recognize that the cited provision of the Corporations Code applies to only to cooperative corporations, not corporations formed under the General Corporation Law: But while Milks cites a California statute that requires a domestic corporation to provide written notice to all its members and creditors of a voluntary winding up… [read post]
23 Apr 2024, 9:05 pm
Therefore, there is a higher risk of opportunism of debtors in relation to creditors. [read post]
23 Apr 2024, 2:07 pm
Creditors’ Committees Section 1102 of Chapter 11 outlines the rules for creditors’ committees. [read post]
23 Apr 2024, 2:48 am
On the prescription point, as well, it is a factual question whether a creditor is deemed to have knowledge of the debtor and the debt if they could be acquired by the exercise of “reasonable care”. [read post]
23 Apr 2024, 2:48 am
On the prescription point, as well, it is a factual question whether a creditor is deemed to have knowledge of the debtor and the debt if they could be acquired by the exercise of “reasonable care”. [read post]
22 Apr 2024, 6:51 am
” “The creditors may seek to unwind the 2023 debt transaction so that they can free up “hundreds of millions of dollars” to repay junior creditors, instead of Deerfield. [read post]
22 Apr 2024, 1:35 am
Creditors who sue sole proprietors may seize their personal assets (e.g. home, car, valuables) to recoup losses. [read post]
20 Apr 2024, 5:25 pm
Tax refunds are considered an asset and may be subject to liquidation to pay off creditors during bankruptcy. [read post]
20 Apr 2024, 5:16 pm
When someone owes the IRS money, chances are good that they have other creditors who are also owed money. [read post]
20 Apr 2024, 9:08 am
It’s a process shrouded in misconceptions and fears, partly because its implications are far-reaching, affecting not just the business but also its employees, customers, and creditors. [read post]
19 Apr 2024, 6:30 am
Posted by the Harvard Law School Forum on Corporate Governance, on Friday, April 19, 2024 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of April 12-18, 2024 Creditor rights, collateral reuse, and credit supply Posted by Brittany Lewis (Washington University in St. [read post]
19 Apr 2024, 6:30 am
Posted by the Harvard Law School Forum on Corporate Governance, on Friday, April 19, 2024 Editor's Note: This roundup contains a collection of the posts published on the Forum during the week of April 12-18, 2024 Creditor rights, collateral reuse, and credit supply Posted by Brittany Lewis (Washington University in St. [read post]
18 Apr 2024, 7:23 am
You testify in person at the first meeting of creditors to their accuracy. [read post]
18 Apr 2024, 5:00 am
To safeguard these funds, maximize contributions based on legal limits, as these assets are often protected from creditors. [read post]
18 Apr 2024, 12:52 am
Public Benefits Exemptions: Certain public benefits, such as Social Security, unemployment compensation, and veterans’ benefits, are exempt from creditors’ claims. [read post]
17 Apr 2024, 2:09 pm
Note that creditors may still bring an action against the estate for their claim, and if successful, they can collect against the beneficiary directly against their pro-rata share. [read post]
17 Apr 2024, 9:10 am
If bankruptcy is not a possibility and you find yourself among numerous creditors seeking repayment, the probability of receiving the full amount owed to you is notably diminished. [read post]
