Introduction
Presumed Reasonable Absent Certain Circumstances
Introduction
I just had an interesting discussion with a partner on the subject of the sale of exempt property in bankruptcy. We concluded that even though tenant by the entireties real estate might be exempt from creditor claims in some states, nonetheless in bankruptcy it is still property of the estate under Bankruptcy Code section 541 and subject to the bankruptcy trustee’s general powers of sale under Code section 363(b). The analysis goes like this: section 541 creates a bankruptcy estate that includes all interests of the debtor in property without mention of exemptions, and sec
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What is the impact of a bankruptcy filing on the ability of a franchisee to continue utilizing the trademarks of the franchisor?
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The intricacies of pursuing environmental claims against financially distressed parties
In a prolonged financial downturn, it is an even more difficult burden for many companies to shoulder their own environmental remediation requirements.Pollock’s article examines the steps to consider if a co-liable potentially responsible party (PRP) is either showing signs of economic distress or has already filed in bankruptcy.
The US Bankruptcy Court in Massachusetts says default rates must be justified as a reasonable measure of damages at the time of the making of the loan and that a floating default rate that can exceed 5% will not be allowed as part of a creditors claim in the borrower's bankruptcy. The loan was made in 2006 with a contract rate equal to prime at a time when the prime rate was below 13 percent.