Irve J. Goldman

Irve J. Goldman

Pullman & Comley, LLC

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Bankruptcy Beat: Jockeys Nearing Finishing Line in 25-Year Civil and Bankruptcy Litigation with their Former Business Managers

Hall of fame horse racing jockeys Laffit Pincay, Jr. and Chris McCarron first sued their former business managers, Vincent and Robert Andrews, in California District Court in 1989 for fraud, breach of fiduciary duty and other...more

6/2/2015 - Appeals Breach of Duty Chapter 11 Collateral Estoppel Dischargeable Debts Fiduciary Duty Fraud Horse Racing Investment Adviser Investment Funds Jury Verdicts Justifiable Reliance Misrepresentation RICO

Bankruptcy Beat: Decision Approves Cramdown of Secured Creditors in Chapter 11 With Sub-Market Interest Rate And Disallows...

On May 4, 2015, the U.S. District Court for the Southern District of New York affirmed the controversial and widely discussed decision of the Bankruptcy Court in In re MPM Silicones, LLC, 2014 WL 4436335 (Bankr. S.D.N.Y....more

5/20/2015 - Accelerated Payments Bankruptcy Court Chapter 11 Commercial Bankruptcy Cramdown Interest Rates Secured Creditors Secured Lenders

Bankruptcy Beat: Single Asset Real Estate Debtor Could Not Show That Plan with Substantial Balloon Payment had a Realistic Chance...

At issue in GRG Acquisitions, LLC v. MDM Golf of Gillette Ridge, LLC (In re MDM Golf of Gillette Ridge, LLC), Case No. 14-21565 (ASD) (December 23, 2014), was whether relief from the automatic stay should be granted to a...more

3/31/2015 - Automatic Stay Bankruptcy Plans Commercial Bankruptcy Limited Liability Companies Real Estate Investments Secured Creditors

Bankruptcy Beat: Public Tax Sale to Pay Unpaid Real Estate Taxes Held to Constitute “Reasonably Equivalent Value” for Fraudulent...

A voluntary or involuntary transfer of property by a debtor for less than “reasonably equivalent value” at a time when the debtor is insolvent may be avoided as a fraudulent transfer 11 USC § 548, irrespective of the debtor’s...more

3/30/2015 - Fair Market Value Fraudulent Conveyance Non-Judicial Foreclosures Property Valuation Real Estate Transfers Tax Sale

Bankruptcy Beat: Bankruptcy Court Rules That Undersecured Creditor Could Object to Claims that Were Listed on the Debtor’s...

In In re 3333 Main, LLC, Case No. 13-51533 (ECF No. 172) (Bankr. D. Conn. May 29, 2014) (Shiff, J.), the Debtor listed a number of unsecured claims on its bankruptcy schedules without indicating they were disputed, contingent...more

7/1/2014 - Chapter 11 Commercial Bankruptcy Proof of Claims Unsecured Creditors Unsecured Debt

Bankruptcy Beat: Bankruptcy Court Applies To Collateral Estoppel To State Court Judgement For Fraud and Vexatious Litigation In...

In her first published decision, rendered in Mexico Construction and Paving v. Thompson (In re Thompson), Case No. 11-32924, Adv. Pro. No. 12-03065 (Bankr. D. Conn May 22, 2014), Judge Julie A. Manning held on the basis of...more

6/25/2014 - Abuse of Process Collateral Estoppel Commercial Bankruptcy Dischargeable Debts Estoppel Fraud

Bankruptcy Beat: Former Spouses’ Relative Income a Critical Factor in Determining Whether the Assumption of Mortgage Payments...

Disputes between general creditors and creditors asserting domestic support obligation claims are becoming commonplace in consumer bankruptcy cases. The dispute typically arises because spouses’ or former spouses’ claims are...more

6/19/2014 - Consumer Bankruptcy Creditors Divorce Priority Disputes Support Orders

Connecticut District Court Affirms Ruling that Collateral Estoppel Effect of California Judgments for Fraud Established Them as...

Debts based on fraud are not dischargeable in bankruptcy, but to achieve that result the aggrieved creditor must ordinarily commence a non-dischargeability action and prove the fraud. However, when an action for fraud is...more

4/24/2014 - Consumer Bankruptcy Debt Collection Dischargeable Debts Fraud

Bankruptcy Beat: Luck of the Irish Cannot Save Debtor’s Bankruptcy Appeal of Order Granting Relief from the Stay

The importance of obtaining a stay pending appeal of a bankruptcy court order lifting the automatic stay was recently illustrated in Dunne v. Ulster Bank (In re Dunne), 13 cv 00996-JBA (Mar. 11, 2014). In the Dunne case,...more

4/11/2014 - Automatic Stay Consumer Bankruptcy Mootness

Connecticut District Court Rules That Oversecured Creditor Was Not Entitled to Postpetition Default Interest Until Unsecured...

Section 506(b) of the Bankruptcy Code allows secured creditors to receive post-bankruptcy or postpetition interest, also known as pendency interest, when the value of their collateral exceeds the amount they are owed. ...more

2/26/2014 - Consumer Bankruptcy Creditors Section 506

Connecticut District Court and Bankruptcy Court Differ on Extent to Which the Automatic Stay Automatically Terminates Upon Second...

Under §362(c)(3)(A), when a debtor files a second bankruptcy case within one year after the first case, the automatic stay in the second case will automatically terminate “with respect to the debtor” on the 30th day of the...more

2/11/2014 - Automatic Stay Consumer Bankruptcy Creditors

Are School Tuition Payments Fair Game For Bankruptcy Trustees in Parents' Personal Bankruptcy?

Parents who are forced to file for personal bankruptcy may be surprised to find that school tuition payments they made for their children years earlier could become the target of recovery by an aggressive bankruptcy trustee. ...more

1/7/2014 - Chapter 13 Chapter 7 Consumer Bankruptcy Fraudulent Transfers

Chapter 11 and the Sales Tax Permit

Effective July 1, 2013, Connecticut passed a new law providing that the state must refuse to issue or renew a sales tax permit to any person or entity that owes taxes to the state until the taxes are paid or satisfactory...more

11/6/2013 - Chapter 11 Consumer Bankruptcy Sales & Use Tax

Chapter 11 May Help Save Sales Tax Permits for Distressed Businesses

Effective July 1, 2013, Connecticut passed a new law providing that the State must refuse to issue or renew a sales tax permit to any person or entity that owes taxes to the state until the taxes are paid or satisfactory...more

10/15/2013 - Chapter 11 Sales Tax License

Potential Personal Liability for Corporate Debts

A business experiencing financial difficulty will typically be forced to allocate its scarce resources toward payment of only some of its creditors. In that process, it is important to keep in mind that for some types of...more

8/5/2013 - Business Ownership Corporate Governance Debt ERISA FICA Taxes Officers Personal Liability Sales & Use Tax Wages

Bankruptcy Court Rejects Forum-Shopping Ploy

Originally published in the Connecticut Law Tribune on March 11, 2013. It has become a reality of bankruptcy practice that most large or complex Chapter 11 cases are filed and administered in one of two so-called...more

3/22/2013 - Chapter 11 Creditors Debtors Forum Shopping Venue

Bankruptcy Law Update - December 2012

In this December 2012 Issue: - Second Circuit Decisions - Connecticut Bankruptcy Court Decisions The Second Circuit tackles the criminal exception to the automatic stay, administrative rent claims under a...more

12/21/2012 - Arbitration Automatic Stay Criminal Exception Debtor-Creditor Equitable Mootness Leases Post-Confirmation Jurisdiction Transfer of Venue Warrant for Eviction

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