Chapter 7 Administrative Expenses Included in Liquidation Analysis in Chapter 11 Plan Confirmation, and Absolute Priority Rule vis-a-vis Non-Profit Corporate Debtors

November 12, 2011

The two questions presented are, first, whether a debtor may include administrative expenses from a failed Chapter 11 case as part of the liquidation analysis in a hypothetical Chapter 7 liquidation to satisfy the best interest of creditors test confirmation standard; and, The second question is whether a Chapter 11 plan’s proposed retention of earnings [...]

Read the full article →

Artificial Impairment of Claims in Chapter 11 Plans

November 12, 2011

This paper examines the history, development and argument often called “artificial impairment” in Chapter 11 plan confirmation under §§ 1124 and 1129(a)(10).   Most of the discussion of this issue involves single-asset chapter 11 bankruptcy cases, the single asset is secured to a single secured creditor, the collateral value is dwarfed by the claim, the secured [...]

Read the full article →

Is Your Banker Your (True) Friend? Fraud and Novation

November 12, 2011

The facts relied upon in this memorandum are as follows: A limited partnership (LP), borrowed $3M from Bank, under a Revolving Credit Loan Agreement further evidenced by a promissory note in like amount (Revolving Loan). The Revolving Loan matured in September, 2010.  In conjunction therewith, LP pledged all of its assets to Bank to secure [...]

Read the full article →

Taxation of the Recreational Gambler

April 15, 2011

Overall, the reporting requirements for gamblers are quite easy. The gambler must report all his gambling winnings as “other income” on the first page of his IRS Form 1040. This includes winnings reported on IRS Form W-2G’s ($1,200 or more for slot machines) as well as any other amounts from any other gambling activities. Then, [...]

Read the full article →

How To Handle A Tax Dispute

December 8, 2010

1. REPRESENTING CLIENTS BEFORE IRS Preparation is essential to successfully representing your client during audit. Generally, any attorney or CPA may represent clients before the IRS. Accountants who are not CPA’s may apply to the IRS for “enrolled” status which also enables them to practice before the IRS. 2. ESTABLISHING REPRESENTATION A. A prospective client [...]

Read the full article →

Small Business Chapter 11

November 11, 2009

Possibilities and Pitfalls This paper will discuss some of the possibilities and pitfalls of Chapter 11 bankruptcy utilizing the Small Business provisions under 11 U.S.C. 1101 et seq. (commonly referred to as the Bankruptcy Code or, herein, simply as the Code). All statutory references herein are to sections of Title 11 of the United States [...]

Read the full article →

Bankruptcy and Eviction: A Landlord’s Perspective

August 17, 2009

I. A. INTRODUCTION The purpose of this part of the seminar is to provide a basic approach to the impact of bankruptcy on a landlord in the process of an eviction. All references to the term “lease” herein refer to an “unexpired lease” of real property, unless otherwise specified. This section assumes little or no working [...]

Read the full article →

Chapter 7 Bankruptcy: Creditor Representation

October 17, 2005

I. Introduction The purpose of this part of the seminar is to provide a basic approach to Chapter 7 bankruptcy from the perspective of the creditor. This section assumes little or no working knowledge of the Bankruptcy Code and will assume the debtor to be an individual consumer debtor for the greater part of this discussion. [...]

Read the full article →

Essential Bankruptcy Issues Related to Foreclosure Proceedings

October 17, 2005

This section of the seminar deals with issues which typically arise when the record title holder of the property subject to the mortgage you are foreclosing upon (the “Mortgagee” or “Debtor”) files for relief under the Bankruptcy Code. This section assumes little or no working knowledge of the Bankruptcy Code. It is not intended to [...]

Read the full article →

Impact of Bankruptcy On Real Estate And Title Insurance

April 20, 2005

REAL ESTATE AND TITLE INSURANCE This section of the seminar deals with issues which typically arise when the record title holder (the “Owner”) of the real property upon which title insurance is proposed to be issued (the “Property”) is a debtor under the Bankruptcy Code. This section assumes little or no working knowledge of the [...]

Read the full article →

← Previous Entries