May 02, 2014 | The Legal Intelligencer
Can Debtor Discharge Debt Stemming From Wife's Embezzlement?On March 27, in CUMIS Insurance Society v. Sammons (In re Sammons), No. N12-00514-GS, 2014 Bankr. LEXIS 1413 (Bankr. D. Alaska, Mar. 27, 2014), the U.S. Bankruptcy Court for the District of Alaska considered whether a Chapter 7 debtor could discharge a debt stemming from his nondebtor wife's embezzlement of approximately $1 million from her employer.
By Rudolph J. Di Massa Jr. and James G. Schu Jr.
7 minute read
March 21, 2014 | The Legal Intelligencer
Claim for Contractual Prepayment Consideration DeniedIn 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
February 21, 2014 | The Legal Intelligencer
Trustee's Right to Jury Trial on Fraudulent Transfer ClaimsOn Nov. 4, 2013, in Mukamal v. BMO Harris Bank N.A. (In re Palm Beach Finance Partners L.P.), the U.S. Bankruptcy Court for the Southern District of Florida analyzed whether a liquidating trustee for a bankruptcy estate is entitled to a jury trial on state and federal fraudulent transfer claims brought by the trustee as an adversary proceeding in bankruptcy court.
By Rudolph J. Di Massa Jr. and Catherine E. Beideman
8 minute read
November 01, 2013 | The Legal Intelligencer
Administrative Expense Requests Not Subject to DisallowanceSection 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
March 07, 2005 | National Law Journal
Channeling injunction will not apply to nondebtorsIn his State of the Union address on Feb. 2, President Bush placed the asbestos litigation crisis on the national agenda, stating that "Justice is distorted and our economy is held back by irresponsible class actions and frivolous asbestos claims."
By Rudolph J. Di Massa Jr. and Kevin P. Ray Special to The National Law Journal
10 minute read
August 17, 2012 | The Legal Intelligencer
Snatching Defeat From the Jaws of Victory: Lenders BewareIn Commerce Bank/Harrisburg, N.A. v. Kessler, No. 464 MDA 2011, 2012 WL 1610139 (Pa. Super. May 9, 2012), the Pennsylvania Superior Court issued its affirmance of a ruling of the Dauphin County Court of Common Pleas. In this case, the trial court had ruled that a mechanic's lien would be given priority over a first-recorded open-end mortgage collateralizing the bank's construction loan. Key to the Superior Court's affirmance was the fact that all proceeds of the construction loan were not used in connection with actual construction of the borrower's home.
By Rudolph J. Di Massa Jr.
7 minute read
February 01, 2013 | The Legal Intelligencer
Post-Rejection Lessee Rights Upheld Despite 'Free and Clear' SaleUnder 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
June 13, 2003 | The Legal Intelligencer
Authority to Allow Payment to Critical Vendors May Be LimitedA debtor filing for bankruptcy protection under Chapter 11 usually retains control of its company and continues to operate its business while developing a plan to reorganize and restructure. One of the first consequences a Chapter 11 debtor is likely to face is the refusal of its vendors to provide goods and services on credit - payment will likely be required in full upon delivery.
By Rudolph J. Di Massa Jr.And Jacqueline B. PenrodSpecial to the Legal
7 minute read
March 15, 2013 | The Legal Intelligencer
Chapter 13 Debtor's Proposed Adjustment Plan Goes Up in SmokeOn June 9, 2011, in In re McGinnis, 453 B.R. 770 (Bankr. D. Or. 2011), the U.S. Bankruptcy Court for the District of Oregon addressed certain issues arising from a Chapter 13 debtor's proposed debt adjustment plan.
By Rudolph J. Di Massa Jr.and James G. Schu Jr.
7 minute read
October 18, 2011 | The Legal Intelligencer
Court: Absolute Priority Rule Applies in Individual Chapter 11 CasesSince the enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) in 2005, courts have puzzled over whether Congress intended to eliminate the absolute priority rule for individual Chapter 11 debtors. The absolute priority rule precludes payment to a junior class of creditors or equity holders until all senior classes have been paid in full on their claims.
By Rudolph J. Di Massa Jr. and Laura D. Bonner
9 minute read
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