The purpose of filing for Chapter 7 bankruptcy is to discharge debts. But even after obtaining a discharge, a debtor is not totally in the clear. A recent case in the United States Bankruptcy Court for the Western District of Michigan involves an adversary proceeding in which the United States Trustee sought to revoke a Chapter 7 debtor’s (the “Debtor”) discharge.[i]

On May 16, the U.S. Supreme Court decided Husky International Electronics, Inc. v. Ritz[1], ruling that the term “actual fraud” in section 523(a)(2)(A) of the Bankruptcy Code includes forms of fraud that do not involve a fraudulent misrepresentation.

En situaciones de crisis empresarial no son extrañas demandas de despido «tácito». Aunque se trata de una denominación no recogida por el legislador laboral, reproduce la posibilidad que el artículo 50 del Estatuto de los Trabajadores otorga al trabajador para extinguir su contrato en determinadas circunstancias y con derecho a la indemnización correspondiente al despido improcedente. Este tipo de demandas suelen coincidir con los procesos concursales, si bien la realidad temporal puede ser distinta.

Chapter 13 bankruptcy allows debtors to confirm plans that provide for the payment of their debts through future earnings while, at the same time, retaining their assets. If a creditor wishes to receive payments pursuant to a debtor’s plan, the creditor must file a proof of claim. And it must do so timely.

The U.S. Bankruptcy Court for the Eastern District of Michigan recently considered the issue of whether a Chapter 7 trustee may bring a cause of action against a debtor for damages caused to the bankruptcy estate by the debtor’s alleged failure to comply with the debtor’s duties under section 521 of the Bankruptcy Code.

Bankruptcy is all about the debtor’s assets, specifically how many and who gets them. The reason that many bankruptcy cases are contentious is that the parties often disagree about the amount of assets available for distribution to creditors, as well as how the assets should be divvied up.

La Tesorería General de la Seguridad Social viene oponiéndose a que se le aplique el artículo 176 bis.2 de la Ley Concursal en aquellos créditos cuyo vencimiento resultara anterior a la entrada en vigor de la reforma de la citada norma. Se entiende que ha de considerarse el pago de la deuda contra la masa a su respectivo vencimiento, en aplicación de la norma que estaba en vigor cuando se generó la deuda o, al menos, cuando se reclamó por parte de la Tesorería General de la Seguridad Social dicha deuda a la administración concursal.

There is nothing quite like obtaining a new customer or getting a new big sale - the prospect of recurring revenue from a new source, the validation of business strategy, or the culmination of a successful negotiation.

However, there is nothing more disheartening than when a new customer is unable or unwilling to pay for the product you just shipped or services you just provided. Perhaps there is one thing that is worse, when a long-term customer fails to pay.

1. Employment in a Member State of workers resident therein by companies declared insolvent that, notwithstanding formal registration in a third country, have their real seat in said Member State

In the Summer of 2014, we wrote about a Chapter 7 bankruptcy case in the U.S. Bankruptcy Court for the Western District of Michigan (the “Bankruptcy Court”) involving an intra-family squabble.