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21 Oct 2022, 12:15 am
Code § 2116 (" The directors of a foreign corporation transacting intrastate business are liable to the corporation, its shareholders, creditors, receiver, liquidator or trustee in bankruptcy for the making of unauthorized dividends, purchase of shares or distribution of assets or false certificates, reports or public notices or other violation of official duty according to any applicable laws of the state or place of incorporation or organization, whether committed or done in… [read post]
20 Oct 2022, 8:54 am
In reality, asset protection is not only about protecting your assets from creditors. [read post]
20 Oct 2022, 5:30 am
Therefore, the payment of creditors must be equitable and no one creditor can be favored over another. [read post]
19 Oct 2022, 11:19 am
Chapter 7 bankruptcy is known as "liquidation bankruptcy," and some assets may be seized and liquidated to repay creditors. [read post]
19 Oct 2022, 6:23 am
Creditors have two years from the date of death of a person to file a claim against the estate. [read post]
17 Oct 2022, 8:02 pm
Disadvantage of JTWROS: Creditor Claims Can Force Sale of the Property Joint tenants must also realize that any property they own together is subject to the claims of creditors of each owner This is one of the reasons it is usually a very poor idea to own property with an adult child. [read post]
17 Oct 2022, 5:30 pm
Creditors are often not easy to deal with, and frequently, many people find themselves in a position where they are unable to negotiate with the creditor to avoid losing their home or car. [read post]
17 Oct 2022, 3:52 pm
The court expressly agreed with the Seventh Circuit’s reasoning in Midwest Title, which it found “persuasive”: In that case [Midwest Title], an Indiana statute deemed title loan transactions to have occurred in Indiana—and thus be subject to Indiana’s loan laws—if a resident of Indiana was part of the transaction and if the creditor had advertised or solicited business in Indiana, regardless of where the transaction took place …. [read post]
17 Oct 2022, 7:37 am
Here, too, the burden of proof is on the creditor seeking to prevent discharge. [read post]
17 Oct 2022, 7:13 am
The U.S. [read post]
16 Oct 2022, 1:45 pm
The partnership itself went into liquidation in 2017, so title to the cottage was held by the Brakes and Mrs Brehme on trust for the creditors of the partnership. [read post]
14 Oct 2022, 5:30 pm
A 341 hearing is also called “meeting of creditors,” however, creditors rarely attend. [read post]
13 Oct 2022, 2:52 pm
" Yet the Michigan General Property Tax Act created an exception to this rule for just a single creditor: namely, the State itself (or a county thereof), which alone among all creditors may take a landowner's equitable title without paying for it, when it collects a tax debt. [read post]
13 Oct 2022, 10:53 am
Creditors have two years from the date of death of a person to file a claim against the estate. [read post]
12 Oct 2022, 8:20 pm
This judgment will show that the debtor owes a certain amount to the creditor and that the creditor has the right to collect the debt. [read post]
12 Oct 2022, 10:00 am
In some states, courts allow creditors to reverse pierce the veil and seize the corporate assets owned by the individual shareholder. [read post]
12 Oct 2022, 1:44 am
The automatic stay may also provide a debtor with the opportunity to negotiate with creditors. [read post]
12 Oct 2022, 12:02 am
Some common law countries, such as England, Australia and Singapore, made Limitation Acts to deal with the enforcement limitation issue in the domestic legislation.[8] In China, the limitation of action is stipulated in Civil Code and is deduced as a substance issue.[9] While the statute of limitations for enforcement is a two-year period for creditors to apply to the court for execution based on a successful and legal effective document, which is provided in Civil Procedural Law of China… [read post]
11 Oct 2022, 6:52 pm
The question in the case is whether a “homestead exemption,” which shields a debtor’s home from creditors, can disappear if the debtor sells his home while bankruptcy proceedings are ongoing and the debtor does not reinvest the proceeds in another home. [read post]
11 Oct 2022, 10:54 am
This law is considered be significant in that it will likely reveal illicit entities that are laundering funds in the US, it will reveal criminal and civil wrongdoings through the use of shell companies and will make it much more difficult to hide assets to avoid legal requirements, regulations, creditors and also foreign agents that are spying on the United States. [read post]
