Jacob J. Payne

Jacob J. Payne

Rogers Towers

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Caveat Charities: Disgorging Donations as Fraudulent Transfers

The Bankruptcy Code permits a trustee to avoid transfers of property that a debtor has made within two years prior to its bankruptcy filing. In 1998, Congress added a safe-harbor provision for contributions to qualified...more

1/15/2014 - Charitable Donations Consumer Bankruptcy Disgorgement Fraudulent Transfers Religious Institutions Trustees

Collecting Deficiency on Wholly-Unsecured Nonrecourse Loan (in Chapter 11)

Some of you who read the title of this post may have done a quick double-take, as it is well established that lenders may not collect a deficiency on a nonrecourse loan under state law. However, the Bankruptcy Code provides...more

12/17/2013 - Bankruptcy Code Chapter 11 Commercial Bankruptcy Deficiency Judgments Nonrecourse Loans Reorganizations Secured Debt Unsecured Debt

Safe-Harbor Provisions for Association Assessments — “First Mortgagee” Must Take Title

The Florida Statutes provide that the subsequent owner of a condo unit or home subject to a homeowner’s association is liable for the assessments of the previous owner that remain unpaid at the time of taking title....more

9/19/2013 - Deed-in-Lieu of Foreclosure Foreclosure Lenders Mortgages Safe Harbors Tax Assessment

Rogers Towers: Dismissal for Failure to Prosecute: Debtor’s Bankruptcy Appeal Tossed for Delay by Eleventh Circuit

As creditors’ counsel, we have often faced debtors who file bankruptcy simply to delay and frustrate the collection process. A recent case out of the Eleventh Circuit typifies the no-nonsense attitude that bankruptcy and...more

8/8/2013 - Chapter 7 Consumer Bankruptcy Debt Collection Debtors Failure to Prosecute Student Loans

Rogers Towers: Commencing Proceedings Supplementary to Recover Fraudulent Transfers

Proceedings supplementary are intended to be a speedy and relatively inexpensive means by which a judgment creditor can recover fraudulent transfers from third parties. Unlike conventional suits, proceedings supplementary do...more

6/18/2013 - Discovery Evidence Fraudulent Transfers Judgment Creditors Supplementation Requirements Third-Party

Rogers Towers: Radlax

Can a Chapter 11 debtor propose a plan to sell a lender’s collateral free and clear of the lender’s lien without allowing the lender to credit bid? The Supreme Court says “no”—unless there’s cause....more

3/14/2013 - Chapter 11 Collateral Credit Bids Lenders Liens Radlax

Rogers Towers: New Equity Auctions

Seventh Circuit holds that new equity in a Chapter 11 debtor must be auctioned…and that a creditor may credit bid. In a Chapter 11 bankruptcy, if the debtor’s owners want to continue to own the debtor after...more

3/7/2013 - Absolute Priority Rule Auction Chapter 11 Credit Bids

Rogers Towers: Using Contempt Power to Force Repatriation of Offshore Trust Assets

Offshore asset protection trusts (OAPT) typically have the following characteristics: (1) the trust is governed by the laws of a foreign jurisdiction that does not recognize the judgments or orders of courts of the United...more

12/13/2012 - Contempt Foreign Jurisdictions Offshore Asset Protection Trusts Repatriation

Rogers Towers: The Right to Trial by Jury in Fraudulent Transfer Actions in Bankruptcy

Suppose you have been sued by the bankruptcy trustee for an alleged fraudulent transfer or a preferential payment. Who decides the case—the bankruptcy judge or a jury? This post explores the circumstances in which parties to...more

11/20/2012

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