When a bankrupt company’s most valuable assets include consumer information, a tension arises between bankruptcy policy aimed at maximizing asset value, on the one hand, and privacy laws designed to protect consumers’ personal information, on the other.
Social media accounts can be “property of the estate” in a bankruptcy case of a business, and thus belong to the business, even when the contents of the accounts are intermingled with personal content of managers and owners. This principle was recently confirmed by the Bankruptcy Court for the Southern District of Texas in In re CTLI, LLC (Bankr. S.D. Tex. Apr.
The Insolvency Service has published a call for evidence on collective redundancy consultation for employers facing insolvency. It is seeking evidence on issues including the role of directors and insolvency practitioners and the factors which inhibit effective consultation. The closing date for submissions is 12 June 2015.
Below are the 6 key points that you need to consider when health and safety issues arise following an appointment to an insolvent company.
1. What is the main legislation covering this area?
There are two distinct areas dealt with by detailed but separate legislation.
The hotels sector has suffered in the recession and as an asset class, hotels are capital intensive operations. They are also susceptible to volatile economic conditions, as consumer and corporate expenditure on hotels is generally viewed as a discretionary expense.
HMA structure
There are various ways in which the corporate ownership of a hotel can be structured. This note will concentrate on one of the most common structures in the hotel industry – the hotel management agreement (“HMA”).
We don’t know about you, but we’ve been following the contentious litigation between the Consumer Financial Protection Bureau (CFPB) and debt-relief services company Morgan Drexen pretty closely. The CFPB filed its lawsuit in August 2013, alleging, among other things, that the company deceived consumers into paying unlawful up-front fees for debt relief services by disguising them as fees related to “sham” bankruptcy services.
Client Alert February 5, 2015 Second Circuit to Lenders: Get Your UCC Filings Right By Geoffrey R. Peck and Jordan A. Wishnew1 INTRODUCTION On January 21, 2015, the U.S. Court of Appeals for the Second Circuit issued an opinion regarding a mistaken UCC-3 termination statement that all loan market participants should consider carefully.
stale-mate
[steyl-meyt]
noun
In its recent decision, Executive Benefits Insurance Agency v. Arkison (In re Bellingham Insurance Agency, Inc.),1 the Supreme Court reiterated and expanded on the reasoning in Stern v.
In another judicial decision springing from Lehman Brothers, as a result of the likely surplus in the estate of Lehman Brothers International (Europe) (in administration) (LBIE) after all the provable debts have been paid, Mr Justice Richards has issued a ‘statement of conclusions’ in what is called the Waterfall Application. A more detailed judgement is expected in late March 2014. We summarise the conclusions below.
Ranking and Contributions of Shareholders of Inlimited Companies