The automatic stay triggered by a bankruptcy filing may protect the debtor’s residence even if the debtor does not own the property, according to a recent decision from a New York-based federal appeals court....more
Bankruptcy preference claims are viewed by businesses as an unfair legal tool that debtors and trustees use to take money back, even though the pre-bankruptcy payments from the debtor were for legitimate business debts. By...more
The potential tax consequences to a debtor and tax reporting obligations of a creditor can become a contentious issue when settling disputed debts, although the issue often arises as an afterthought once the primary...more
A common misconception recently is that bankruptcy filings are at an all-time high. It’s an understandable assumption when the news is saturated with stories about store closures and unemployment spawned by the COVID...more
In turbulent economic times, clients often ask us how they can find out whether a particular company or person is in bankruptcy. While we can run quick searches for this information, there are ways you can find this...more
When a creditor is the target of a bankruptcy trustee or debtor’s claim to take back money the debtor paid on a legitimate debt prior to the bankruptcy filing, it’s bitter justice. The concept is fair enough: pulling funds...more
If you have ever been a creditor concerned about a debtor not paying debts as they become due or paying other creditors while ignoring your demands, then forcing the debtor into an involuntarily bankruptcy may be an option....more