Polsinelli Podcasts - Supreme Court Closes Gap on Bankruptcy Issue
A Conversation with John Houghton on Asia Restructurings
Bennett Jones Spring 2014 Economic Outlook
Select Bankruptcy Issues for General Counsel – Part One
Not Dead Yet? How BigLaw's Best Firms Are Finding Growth
Update on Section 363 of the Bankruptcy Code and Delaware Bankruptcy Court’s Decision in the Fisker Automotive Holdings Inc. Bankruptcy Case
Polsinelli Podcast - Claims Trading: Opportunity or Hazard?
If I wasn't happy with my lawyer, can I appeal and show evidence I wanted to present?
Zimmermann: Dewey Charges Send 'Warning' To Struggling Law Firms
What do creditors need to know about litigation in state court and bankruptcy court?
Can I collect my judgment if the other side is appealing?
Bill on Bankruptcy: Big Time Lawyers Pricing Themselves Out
Bill on Bankruptcy: Detroit Falls Short on Good-Faith Test
What is an appeal and how do I know if I should appeal?
Bill on Bankruptcy: Delaware Garners Almost All Big Chapter 11s
Bill on Bankruptcy: Madoff Victims Rooting for Stanford Victory
Bill on Bankruptcy: Listening in the Dark at the NCBJ
Bill on Bankruptcy: Detroit Shows Need for Amending Bankruptcy Law
Dean: Law Schools Use Merit Scholarships To Boost Rankings
Bill on Bankruptcy: Unprecedented Actions by Two District Judges
In Clark v. Rameker, a case decided by the U.S. Supreme Court on June 12, 2014, the Court ruled that an inherited IRA did not constitute “retirement funds” under the Federal Bankruptcy Code and, therefore, those funds were...more
Suppose the following: Title to a home is held by Trust A. The beneficiaries of Trust A are three natural persons and Trust B. Trust B holds a 25% beneficial interest in Trust A. The sole beneficiaries of Trust B are Mom...more
The Bankruptcy Code permits an individual in bankruptcy to exempt from the bankrupt estate “retirement funds” in an individual retirement account (“IRA”) or certain other tax-advantaged vehicles. In a recent case, the U.S....more
On June 12, 2014 the United States Supreme Court issued its opinion in Clark v. Rameker, 13-299, ruling that inherited IRA accounts are available to creditors in bankruptcy. At issue was a Bankruptcy Code provision that...more
On June 12, 2014, the U.S. Supreme Court issued its opinion in Clark v. Rameker, opening up another source of recovery for creditors and Chapter 7 trustees in bankruptcy proceedings. In Clark, a Chapter 7 debtor inherited...more
On June 12, 2014, the United States Supreme Court unanimously held in Clark v. Rameker Trustee that funds in an individual retirement account (“IRA”) inherited from someone other than the bankrupt debtor’s spouse are not...more
On June 12, 2014, the U.S. Supreme Court unanimously held in Clark v. Rameker that an inherited individual retirement account (IRA) does not qualify for the “retirement funds” exemption in the Bankruptcy Code and is not...more
Our post from yesterday discussed how the U.S. Supreme Court ruled in Clark v. Rameker that inherited IRAs are not exempt from creditor claims in bankruptcy. Here are some more observations on that case...more
We have written on the question whether inherited IRAs are exempt from creditors in a federal bankruptcy action. The various courts that have addressed the issue have gone in both directions....more
The U.S. District Court for the District of Delaware has affirmed a bankruptcy court order which approved both a sale of the debtors’ assets and the establishment of an escrow account, which essentially provides a “gift” to...more
Before the Supreme Court this term is the question of whether a beneficiary individual retirement account (an “Inherited IRA”) is exempt from a debtor’s bankruptcy estate under 11 U.S.C. § 522(b)(3)(C) and (d)(12)2 of the...more
Atari Files Reorganization Plan to Exit Bankruptcy
by Joel R. Glucksman on October 4, 2013
Video-game maker Atari, Inc. has filed a reorganization plan in the U.S. Bankruptcy Court in Manhattan with the support of its...more
Analysts Debate the Effectiveness of Municipal Bankruptcy on Improving Cities
by Joel R. Glucksman on August 22, 2013
Five years after the Great Recession began, a number of cities across the country are still...more
American Airlines Nears Bankruptcy Exit, Merger
by Joel R. Glucksman on August 15, 2013
American Airlines parent AMR Corporation is gearing up to make its formal exit from bankruptcy proceedings, and to enter into a...more
Should Detroit Follow Central Falls’ Bankruptcy Strategy?
by Joel R. Glucksman on August 6, 2013
In the wake of Detroit filing the largest municipal bankruptcy in U.S. history, many
analysts are looking at the...more
Endicott Interconnect Technologies Seeks Bankruptcy Protection
by Joel R. Glucksman on August 2, 2013
Endicott Interconnect Technologies has filed for bankruptcy protection with the U.S.
Bankruptcy Court in Utica, and...more
If a substantial portion of a person’s wealth is in one or more IRAs, protecting the assets in those accounts is critical to his or her estate plan. IRAs provide significant benefits, including tax-deferred wealth...more
Originally posted in the ABI Journal, Vol. XXXI, No. 5, June 2012.
Editor’s Note: For additional perspective on inherited IRAs, read the May 2011 cover article and a letter to the editor published in the July/August 2011...more
In this memorandum opinion, the Court of Chancery appointed a receiver for an insolvent corporation deadlocked over how to discharge a tax lien.
Defendant Metropolitan Hospice, Inc. (“MHI”), a closely held corporation,...more
[Okay, we are not dummies, but this is a very tough issue to follow in its entirety for most of us.]
Until recently, the term “clawback” did not mean much to estate planners and tax attorneys. Those with some knowledge...more
A monthly report for wealth management professionals. In This Issue:
- March Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts
- In re Grube...more
Last March, we discussed the bankruptcy case In re Chilton. That case held that unlike a traditional individual retirement account (IRA), an inherited IRA is not an exempt asset in bankruptcy. Our prior discussion can be...more
The February edition of BrownWinick's The Legal Montior contains the following articles:
Receiving a demand letter or lawsuit for the return of preferential payments to a bankrupt debtor is typically a frustrating...more
This article addresses the 9 Key Steps to Take Before Hiring a Lawyer....more
This article addresses the 6 Misconceptions About Compromising Tax Debts....more
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