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Troutman Pepper

How Can I Claim a Business Bad Debt Deduction? - Creditor's Rights Toolkit

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The Internal Revenue Code permits a business bad debt deduction when a customer fails to pay for the services rendered or the products supplied by your business. However, the ability to claim an ordinary deduction with...more

Rivkin Radler LLP

Debt or Equity? The Never-Ending Question For Closely Held Businesses

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What Was Intended? Transactions between commonly controlled, closely held businesses are often conducted in an informal manner. This is unfortunate because, in the absence of documentation, it is sometimes difficult to...more

Allen Matkins

Creditor Stung By Academy Of Motion Picture Arts And Sciences Bylaws

Allen Matkins on

When a judgment creditor sought delivery of her debtor’s Oscar statuette, under the Enforcement of Judgments Law (EJL). (Code Civ. Proc., § 680.010 et seq., the Academy of Motion Picture Arts and Sciences ("AMPAS")...more

Katten Muchin Rosenman LLP

Features of the Hong Kong Airlines Restructuring Plan

Key Points - - Hong Kong Airlines (HKA) has announced that it is seeking to implement a restructuring of its aircraft lease obligations and other liabilities by court action in the UK and Hong Kong. - The plan...more

McGlinchey Stafford

Has the FDCPA’s Scope Been Expanded?

McGlinchey Stafford on

What debts are subject to the protections of the FDCPA, the Fair Debt Collection Practices Act (15 U.S.C. §1692)? One would think that funds received through a government program providing hurricane relief would not be, but...more

Farrell Fritz, P.C.

Debt vs. Equity: Form & Substance Matter

Farrell Fritz, P.C. on

Some lessons need to be repeated until learned. It’s a basic rule of life. Don’t tug on Superman’s cape; don’t spit into the wind; don’t pull the mask off that old Lone Ranger; and if you are going to make a loan, give it the...more

Jones Day

Australian Court of Appeal Approves Use of "Holding" Deed of Company Arrangement

Jones Day on

In Mighty River International Ltd v Hughes [2017] WASCA 152, the Western Australian Court of Appeal delivered a landmark decision approving the use of a "holding" deed of company arrangement ("DOCA")....more

Morrison & Foerster LLP

IRS Issues Final Debt-Equity Regulations

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On October 13th, the Internal Revenue Service (“IRS”) followed through on its promise to issue final regulations and temporary regulations under Section1 385 (the “Final Regulations” and “Temporary Regulations,” respectively)...more

Adler Pollock & Sheehan P.C.

Maintain Separation Between A Nonprofit And The Foundation That Supports It

A nonprofit corporation is a business with assets and liabilities just like any other business. When a nonprofit runs into financial trouble, its creditors usually do the same thing as creditors of a for-profit business: ...more

Balch & Bingham LLP

Alabama Court of Civil Appeals Affirms Revival of 11-Year Old Uncollected Judgment Based on Affidavit Testimony of Creditor’s...

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In Gloor v. BancorpSouth Bank, No. 2140914 (Ala. Civ. App. April 1, 2016), the Alabama Court of Civil Appeals held that a creditor may revive and collect on an unpaid judgment that is older than 10 years, further clarifying a...more

Ballard Spahr LLP

NCLC recommends debt collection regulations to the CFPB

Ballard Spahr LLP on

In a new report entitled “Debt Collection Communications: Protecting Consumers in the Digital Age,” the National Consumer Law Center “specifies the regulations the [CFPB] should adopt regarding when, where, how, and how often...more

BakerHostetler

The ABI Commission on Business Bankruptcy Reform: Providing Information and Fairness to Creditors

BakerHostetler on

Will Congress Finally Act? This is the fourth in a series of Alerts regarding the proposals made by the American Bankruptcy Institute Commission to Reform Chapter 11 Business Bankruptcies. We discuss here the Commission’s...more

Morrison & Foerster LLP

Financial Services Report, Summer 2015

In This Issue: - Arbitration Report - Beltway Report - Bureau Report - Mobile & Emerging Payments Report - Mortgage & Fair Lending Report - Operations Report - Preemption Report -...more

Buchalter

How to Aggressively Defend Against Lender Liability Lawsuits

Buchalter on

Introduction - Following an economic downturn, lenders are inundated with lender liability suits typically based on purported promises to extend the maturity dates of loans, alter the terms of loan agreements, or to...more

Hinshaw & Culbertson LLP

Creditor's Willful Violation of Automatic Stay Results in Fee Award

Hinshaw & Culbertson LLP on

In Snowden v. Check Into Cash of Washington Inc. (In re Snowden), 2014 DJDAR 12677, the United States Court of Appeals for the Ninth Circuit decided a bankruptcy case involving the award of attorney fees....more

Pillsbury Winthrop Shaw Pittman LLP

Third Circuit Concludes Personal Injury Causes of Action Against a Successor to Debtor’s Business are Generalized Claims

In a novel decision, the United States Court of Appeals for the Third Circuit held, in its ruling In re Emoral, Inc., 740 F.3d 875 (3d Cir. 2014), that personal injury claims of individuals allegedly harmed by a bankrupt...more

Allen Matkins

New Law Aims To It Easier To Levy On Bank Accounts

Allen Matkins on

Last year, the Consumer Financial Services Committee of the Business Law Section of the California State Bar sponsored AB 2364 (Wagner). This bill, which took effect on Tuesday, is intended to simplify the process for levying...more

Mintz

Bankruptcy Abroad: US Creditors’ Rights Remain Relevant in Chapter 15

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With an increasing number of businesses operating without regard to borders in today’s global economy, the importance of understanding Chapter 15 — the Bankruptcy Code provisions instructing the cooperation between the United...more

Winstead PC

Even More Bad Boy Liability Events: My List of Liability for Lender’s Losses or Damages

Winstead PC on

In addition to the events that create “full recourse” liability (for the entire loan), bad boy liability also includes losses or damages incurred by the Lender based upon another list of “bad” events or triggers. I’m sure...more

Winstead PC

The List of “Bad Boy” Recourse Liability Events Keeps Growing: My “Roll Up” Version

Winstead PC on

Several months ago, I mused that, due to the conservative trending of commercial real estate lending, the list of “bad boy” exceptions (to a “no personal liability” deal) could be viewed as a full recourse deal. In other...more

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