Recent News
We stay abreast of current legal developments. The law is always evolving.
Warning: These Posts Does Not Constitute Legal Advice; Please Consult An Attorney
What Could Go Wrong?
“STAYING” AWAY FROM CONTEMPT SANCTIONS Suppose you find yourself in this situation. You've been involved in litigation for months against a party you believe defrauded you out of thousands of dollars. After protracted legal proceedings, your judge finally sets...
BANKRUPTCY LAW: Under Delaware Law, Company’s Discharge did not Extend to Alter Ego
Bankruptcy Appellate Panel held that the discharge of a company in a Chapter 11, Subchapter V case did not release the person who owned the LLC from the same debt. Essentially, the owner (the only member of the LLC) was a co-debtor, and co-debtors do not receive the...
BANKRUPTCY/REAL ESTATE LAW (Homestead Exemption)
Where debtors claimed “100% Fair Market Value” of their home as protected by the Homestead Exemption, and there was no timely objection by the US Trustee, then the claim of exemption protected the full amount of money generated by the sale of the home, after payment...
BANKRUPTCY/REAL ESTATE LAW (Homestead Exemption; “Snapshot” Rule)
The Ninth Circuit Court of Appeal applied the “snapshot rule,” and applied the Homestead Exemption that applied to the debtor’s residence on the date the bankruptcy petition was filed ($600,000), and not the amount of the exemption in existence on the date the...
Dischargeability, Criminal Behavior, & FTX Trading, Ltd.
Dischargeability, Criminal Behavior, & FTX Trading, Ltd. A debtor in bankruptcy, whether individual, joint, or corporate, is/are looking to end his/her/its responsibility for pre-petition, unsecured debts. Those are debts that have no collateral. 11 USC Sec. 727,...
Bankruptcy Law: Dischargeability
Ninth Circuit Court of Appeals reversed the bankruptcy court and held that a disbarred attorney’s obligation to repay victims of his misconduct was dischargeable, while simultaneously upholding the bankruptcy court's ruling that the cost of the disbarred attorney’s...
Real Estate/Bankruptcy
Whether a real estate agent sold her rights to her commission, or received a loan in that amount from the factor financer was a question to be determined by the facts of the case. Here, where factoring company sought payment from the realtor during her bankruptcy, the...
FINANCIAL TECHNOLOGY: FTX’s Crypto Blizzard
Although it is not alone in its financial woes, the bankruptcy filing of cryptocurrency giant FTX Trading, Ltd., has probably gotten the most attention of the cryptocurrency firms that are in deep financial distress (“the Crypto Winter”). This article discusses the...
The Equal Credit Opportunity Act
The Equal Credit Opportunity Act (Title 15 United States Code, Sec. 1691), which has been law since 1974, is intended to curb discrimination in “credit transactions.” Specifically, it protects racial minorities, women, religious minorities, and others who might...
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