Business Organization Wills, Trusts, & Estate Planning Bankruptcy

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Neither the non-charitable corporation, itself, nor its directors hold the corporate assets in trust, absent special facts.

A charitable corporation is more a trust than a corporation, a topic that is taken up in an earlier posting on this site. See http://www.jdsupra.com/legalnews/the-charitable-corporation-a-trust-in-d-90654/. In the case of a...more

Atari Files Reorganization Plan to Exit Bankruptcy

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

Employer Wins Bankruptcy Discharge of Withdrawal Liability

The Ninth Circuit Court of Appeals recently ruled that employers may discharge multiemployer trust withdrawal liability in bankruptcy. Employers required to contribute to multi-employer pension trusts face growing withdrawal...more

Should Detroit Follow Central Falls’ Bankruptcy Strategy?

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

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

May the Trustee’s Personal Debt to the Trust Owed as a Result of a Breach of Trust be Discharged in Bankruptcy?

The U.S. Bankruptcy Code provides that a personal debt is not dischargeable if the debt had been occasioned by the debtor’s defalcation while acting in a fiduciary capacity. Courts of appeals had long disagreed about the...more

Update on Preparing Living Wills for Bank Holding Companies and Depository Institutions

This analysis updates a previous memo and incorporates advice we have received from the Federal Reserve Board (“FRB”) and the Federal Deposit Insurance Corporation (“FDIC”) regarding the preparation of living wills for bank...more

Estate of Badii ex rel. Badii v. Metropolitan Hospice, Inc., C.A. No. 6192-VCP (Del. Ch. Mar. 12, 2012) (Parsons, V.C.)

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

Asset Protection Planning

Asset protection planning is a hot topic for many people. This article summarizes various asset protection planning strategies, short of filing for bankruptcy....more

FCC Sets Limits on Use of Divestiture Trusts When Station Purchase Would Put Buyer in Violation of Multiple Ownership Rules

When one broadcast licensee company buys another, or when there is a restructuring of a company with broadcast ownership holdings that are grandfathered under current ownership rules, there often arises a need to divest...more

Living With 'Living Wills'

The Dodd-Frank Act (the "Act") contains several provisions creating significant compliance challenges for covered financial institutions. Some of the measures will impose novel responsibilities. Some may change the way firms...more

Why Long-Term Care Insurance is Important to Doctors

One commonly overlooked area a doctor’s personal planning is the possibility that you or a loved one may need long-term care (LTC) as a result of age, illness, or accidents. In cases where such care is required, the...more

9 Key Steps to Take Before Hiring a Lawyer

This article addresses the 9 Key Steps to Take Before Hiring a Lawyer....more

6 Misconceptions About Compromising Tax Debts

This article addresses the 6 Misconceptions About Compromising Tax Debts....more

Business Owner's Indespensible Guide to Choice of Entity

This article provides the business owner with indespensible guidance on selecting the appropriate business entity....more

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