Hiding Assets in California
June 02, 2017
Often, asset protection advice is bereft of any discussion of California exemption statutes — which often provide the most efficient and safest asset protection. But to properly protect an asset in California, it's generally best to understand and maximize exemptions.
Sixth Circuit Trims Bank's Good-Faith Defense to Fraudulent Transfer Claims
May 02, 2017
<b><i>Part One of a Two-Part Article</i></b>The issue of what constitutes a good-faith defense to a fraudulent transfer claim is a murky question that has produced a wide variety of reported decisions from appellate courts over the years. But a recent Sixth Circuit opinion sheds some clear light on a complicated fact pattern.
Restaurant Industry Chapter 11 Bankruptcies
May 02, 2017
The past year has brought a wave of restaurant businesses filing for reorganization in Chapter 11. With inherently low profit margins, increased competition, limited pricing flexibility and a propensity for expansion without the support of underlying business fundamentals, the industry is particularly susceptible to business failure.
Would <b><i>Jevic</i></b> Have Come Out Differently with Gorsuch?
May 01, 2017
In <I>Jevic</I>, the members of SCOTUS — sans Neil Gorsuch, who had not yet been confirmed — declined the invitation to "upend" the absolute priority scheme. The question presented: "Can a bankruptcy court approve a structured dismissal that provides for distributions that do not follow ordinary priority rules without the affected creditors' consent?" SCOTUS's answer: a resounding "No." Would Gorsuch have changed that?
Expansion of the <i>Barton</i> Doctrine To Unsecured Creditors' Committees
April 02, 2017
The U.S. Court of Appeals for the Ninth Circuit recently held in <i>Blixseth v. Brown</i> that under <i>Barton v. Barbour</i>, a plaintiff must obtain a bankruptcy court's permission before commencing a lawsuit in another forum against a member of the committee of unsecured creditors, and that <i>Stern v. Marshall</i> does not preclude bankruptcy courts from adjudicating such claims on the merits.
Navigating the Bankruptcy Court's Power to Modify A Secured Creditor's Lien
April 02, 2017
This article focuses on the impact of section 552 of the Bankruptcy Code, which addresses the effect of a bankruptcy filing on property acquired by the debtor after the filing of the bankruptcy case (referred to as "after-acquired property") and proceeds of pre-bankruptcy collateral.
The Chapter 9 Crucible
April 02, 2017
Any bankruptcy practitioner, upon first contact with a municipal bankruptcy case, may be shocked by the lack of substantive law to be found in Chapter 9. The dearth of detail has long caused bankruptcy lawyers and courts to turn to the far more substantive provisions of Chapter 11 for practical guidance.
What Constitutes 'Proper' Notice?
March 02, 2017
Proper notice is a hallmark of all bankruptcy proceedings. If a creditor or party-in-interest has no notice of a particular matter, many courts have ruled that the creditor or party-in-interest will not be bound by a particular court's determination.