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You have probably heard the term “short sale” before but may not be familiar with what the short sale process entails. A short sale can be an alternative to foreclosure for financially distressed homeowners. A short sale involves selling a home for less than the...
By: Dean A. Langdon It has long been the rule in bankruptcy cases that the price received for real property at a foreclosure sale was “reasonably equivalent value” and the transfer could not be set aside as a fraudulent transfer under 11 U.S.C. § 548. BFP v....
By: Laura Day DelCotto In our many chapter 11 coal-industry cases over the years, the surety bonding company always plays a very major role in the case. The bonding company issues are detailed and fact-intensive, dealing with multiple bonds, bond collateral, permits,...
By: Laura Day DelCotto I don’t think I ever knew that there is an “American Gambling Association” but it does exist. The Association recently estimated that over 45 million Americans will be betting on NFL football games during the 2021 season. Much of this gambling...
By: Dean A. Langdon One of the federal laws that exists to protect consumers is the Fair Debt Collection Practices Act (the “FDCPA”). The FDCPA covers third-party debt collectors who are in the business of collecting consumer debts and generally prohibits harassing,...
If you have ever had a vehicle repossessed, you are probably aware that typically the lender sells the vehicle and will pursue you for any deficiency balance from the sale of the vehicle. For example, if you financed a vehicle for $25,000 and it sold for $15,000, then...
Merchant cash advance agreements typically involve selling your business receivables at a price with a significant fee. This fee is repaid usually on a daily or weekly basis by debiting a certain percentage of your business receivables. These types of agreements are...
If your company has been served with a lawsuit asserting preference claims, you will need to file an answer or other responsive pleading on or before the deadline asserted in the summons. To properly evaluate defenses, you will need to locate and identify the checks,...
By: Dean A. Langdon A hallmark of bankruptcy is the ability of a trustee to recover fraudulent transfers from third parties. Fraudulent transfers include transferring property without being paid for it, transferring property for less than its worth, and making...
If you or your company is facing a sizable lawsuit, then you may be considering various bankruptcy options. First, if a judgment has already been entered, you will need to decide if you plan on appealing the judgment or not. For many, an appeal means posting a bond...
