Rudolph J Di Massa Jr And Jarret P Hitchings

June 18, 2015 | The Legal Intelligencer

Section 303 of the Bankruptcy Code provides creditors with a mechanism to force a recalcitrant debtor into bankruptcy through the filing of an involuntary petition for relief. Pursuant to this section, an involuntary bankruptcy case may be commenced only under Chapter 7 or 11 of the Bankruptcy Code, and may only be brought against a person otherwise qualified to file a voluntary petition. Where the purported debtor has fewer than 12 creditors, the involuntary petition need only be filed by a single creditor. However, where the purported debtor has 12 or more creditors, the involuntary petition must be filed by at least three creditors.

By Rudolph J. Di Massa Jr. and Jarret P. Hitchings

7 minute read

March 20, 2015 | The Legal Intelligencer

In an effort to protect the property of a bankruptcy estate, Section 362(a) of the U.S. Bankruptcy Code imposes an automatic stay on most proceedings against a debtor in bankruptcy. The policy of this section is to grant relief to a debtor from creditors, and to prevent a "disorganized" dissipation of the debtor's assets. (See, e.g., U.S. Securities and Exchange Commission v. Brennan, 230 F.3d 65, 70 (2d Cir. 2000).)

By Rudolph J. Di Massa Jr. and Jarret P. Hitchings

7 minute read

March 20, 2015 | The Legal Intelligencer

In an effort to protect the property of a bankruptcy estate, Section 362(a) of the U.S. Bankruptcy Code imposes an automatic stay on most proceedings against a debtor in bankruptcy. The policy of this section is to grant relief to a debtor from creditors, and to prevent a "disorganized" dissipation of the debtor's assets. (See, e.g., U.S. Securities and Exchange Commission v. Brennan, 230 F.3d 65, 70 (2d Cir. 2000).)

By Rudolph J. Di Massa Jr. and Jarret P. Hitchings

7 minute read

December 19, 2014 | The Legal Intelligencer

The "American rule" is a well-defined legal principle applied by courts throughout the United States that holds each party to a dispute responsible for paying its own attorney fees. This principle is, however, subject to a number of exceptions that effectively allow a prevailing party to recover its own attorney fees from a losing party. For example, federal and state statutes increasingly authorize a prevailing party to recover costs from its adversary in certain types of actions. Likewise, contracting parties often incorporate "fee shifting" terms that provide for recovery of litigation costs by one party in the event of litigation on the contract. In other circumstances, a court exercising its own discretion may award a prevailing party its attorney fees as part of the judgment.

By Rudolph J. Di Massa Jr. and Jarret P. Hitchings

8 minute read

August 01, 2014 | The Legal Intelligencer

When an individual debtor files a petition under the Bankruptcy Code, all property in which the debtor has a legal or equitable interest becomes part of the debtor's bankruptcy estate. Creditor claims against the debtor are generally recoverable from property and funds included in this estate.

By Rudolph J. Di Massa Jr. and Jarret P. Hitchings

8 minute read

March 21, 2014 | The Legal Intelligencer

In today's financial market, institutional promissory notes with fixed rates almost always include terms that concern payment of the note in advance of its maturity date. For example, certain provisions may outline the circumstances in which a borrower may prepay amounts due under the note.

By Rudolph J. Di Massa Jr. and Jarret P. Hitchings

7 minute read

November 01, 2013 | The Legal Intelligencer

Section 502, Title 11 of the U.S. Bankruptcy Code generally governs the allowance and disallowance of claims or interests asserted against a debtor's bankruptcy estate.

By Rudolph J. Di Massa Jr. and Jarret P. Hitchings

4 minute read

February 01, 2013 | The Legal Intelligencer

Under Section 365(h) of the Bankruptcy Code, where a debtor, as lessor, rejects a lease, the debtor's contractual obligations under the lease generally disappear.

By Rudolph J. Di Massa Jr. and Jarret P. Hitchings

8 minute read