A homestead exemption is a law that protects a certain amount of equity in an individual’s primary residence from the claims of his or her creditors or, in some states like Florida, the amount of the exemption is unlimited...more
The National Rifle Association (commonly known as the NRA), a New York not-for-profit corporation with its principal place of business in Virginia, has tested the limits of how accommodating Chapter 11 can be to a solvent...more
1/26/2021
/ 501(c)(3) ,
Automatic Stay ,
Bad Faith ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Dissolution ,
Firearms ,
NRA ,
Subsidiaries ,
Venue
The new Consolidated Appropriations Act, 2021 (the “Act”), which was signed into law on December 27, 2020 (H.R. 133), includes within its 5,593 pages a number of new bankruptcy relief provisions for businesses as part of what...more
1/4/2021
/ Bankruptcy Code ,
CARES Act ,
Chapter 11 ,
Commercial Bankruptcy ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Infectious Diseases ,
New Legislation ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA Lending Programs ,
Small Business
In these troubled times when lease and other contract defaults, as well as bankruptcies, abound, it may be useful to reexamine what happens to a lease of commercial real estate when it has been terminated in accordance with...more
The Paycheck Protection Program is a federal loan program that was brought into law on March 27, 2020, by the Coronavirus Aid, Relief, and Economic Security Act, known as the “CARES Act.”...more
Chapter 11 can be a daunting and expensive process for any business to undertake, but its myriad requirements tend to have a disproportionate effect on small businesses....more
For at least the past 14 years while the so-called “Jay Alix Protocol” has been in effect as a national policy of the Office of the United States Trustee (“UST), and prior to that in a handful of decisions, interim Chief...more
In both Chapter 13 consumer bankruptcy cases and individual Chapter 11 cases, a debtor is prohibited from modifying a claim that is “secured only by a security interest in real property that is the debtor’s principal...more
In a decision handed down on January 4, 2016, a New York Bankruptcy Court issued a preliminary injunction preventing the transfer of any assets of the Defendant in an adversary proceeding in which a turnover of monies, along...more
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
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
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
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
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
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