“Sometimes, you can make no mistakes, do everything right, and still lose.”
Captain Jean-Luc Picard, Star Trek: The Next Generation (TNG)
♫ “Girl, it’s easy to love me now.
Would you love me if I was down and out?
Would you still have love for me?” ♫
-50 Cent, 21 Questions
Is insurance just a business or does it serve a greater public good? If it weren’t for insurance, a fire or earthquake could leave you homeless; a visit to the emergency room could wipe out your bank account; a workplace accident could leave you salary-less. But, on the other hand, picture that wily Geico lizard, and insurance seems more like any other business trying to make a buck.
At the most basic level, bankruptcy is all about property. Going out on a limb here, we’d say that it’s a good idea to have a sense of what is and what is not your property before filing for bankruptcy. Of course, this is easier said than done in some cases and can be subject to dispute, as demonstrated by
Section 363 of the Bankruptcy Code provides debtors an efficient and flexible mechanism to dispose of substantially all estate assets outside of the confines of the Bankruptcy Code’s provisions concerning plan confirmation. The Third Circuit’s recent decision in
How many ages hence / Shall this our lofty scene be acted o’er, / In states unborn, and accents yet unknown!
– William Shakespeare, Julius Caesar
“Dream the impossible dream; eat the impossible sundae…” So the song goes – or rather, went – at The Show Place Ice Cream Parlour in Beach Haven, New Jersey. Sadly, The Show Place and the adjoining Surflight Theatre have closed their doors and will be liquidating their assets in chapter 7. The authors have fond memories of shows at the Surflight and family outings to The Show Place, and we are now in the unenviable position of wishing the institution a melancholy happy trails. So for this installment of Bankruptcy Beach Reading, we take you to Long Beach Island, New
Benjamin Franklin is quoted as having said “in this world nothing can be said to be certain, except death and taxes.” No offense to Mr. Franklin, but we had always thought that there was at least one other certainty in this world—in a bankruptcy case, creditors get paid pursuant to the priority scheme under section 507(a) of the Bankruptcy Code. It turns out, however, that Mr.
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