If you are one of the lucky product manufacturers who weathered the recent economic downturn well and are looking to buy assets from those who did not survive…beware!
USA, Insolvency & Restructuring, Product Regulation & Liability, Frost Brown Todd LLP, Bankruptcy, Due process
Recently, there have been cases in several states presenting the issue whether funds in an “inherited IRA” are exempt assets.1 An Ohio Bankruptcy Court has now ruled in favor of granting exempt status.
USA, Ohio, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Frost Brown Todd LLP, Tax exemption, Bankruptcy, Debtor, Beneficiary, Retirement, Westlaw, Title 11 of the US Code, Internal Revenue Code (USA), United States bankruptcy court
Under BAPCPA, enacted in 2005, a Bankruptcy Court may not approve a Chapter 13 plan which does not provide for the payment of all unsecured claims in full if the plan does not devote all of the debtor’s projected disposable income over the life of the plan to repayment of the unsecured creditors.
USA, Insolvency & Restructuring, Litigation, Frost Brown Todd LLP, Bankruptcy, Debtor, Unsecured debt, Buyout, Supreme Court of the United States, United States bankruptcy court