Remove Bankruptcy Remove Judgment Remove Manufacturing
article thumbnail

Bankruptcy Court Won’t Dabble in Case Concerning a Marijuana Business

PBWT

Like many other retail businesses, those dispensaries needed suppliers, who in turn needed manufacturers, who themselves needed to procure equipment. Rosinbomb manufactures and sells “organic extraction presses utilizing a combination of heat and pressure to generate organic concentrates.” ” In re Mayer , 2022 Bankr.

article thumbnail

New Court Ruling on Whether Avoidance Powers Require Benefit to Creditors

PBWT

The Bankruptcy Code grants the power to avoid certain transactions to a bankruptcy trustee or debtor-in-possession. In a recent decision, the United States Bankruptcy Court for the District of New Mexico addressed this question, concluding, in the face of a split of authority, that there was such a requirement. Glove, Inc. ,

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Burr & Forman Names Eight New Partners Across Five Offices

Burr Forman

Meryl Cowan is a member of the firm’s Labor & Employment group where she represents employers, manufacturers, and companies in all aspects of general employment, labor, and employment discrimination law.

article thumbnail

Five Key Provisions Construction Material Suppliers Should Include in Customer Credit Agreements

Jimerson Firm

Oftentimes, those personal assets may be greater than the assets of the corporation or business entity, particularly where the business entity is shutting down or facing bankruptcy. Limitation of Liability and Disclaimer of Warranties The credit agreement should include provisions addressing warranties. can be taken.

article thumbnail

Supreme Court Expands Creditors’ by Allowing Denial of a Discharge Under Sec. 523(a)(2)(A) if Debtor Transfers Assets in Violation of State Fraudulent Transfer Statute

The Creditors Rights

Section 523(a)(2)(A) of the Bankruptcy Code allows a creditor to obtain a judgment denying its debtor a discharge of debts incurred by false pretenses or actual fraud. Chrysalis Manufacturing Corp. Congress added the term “actual fraud” when it enacted the Bankruptcy Code in 1978. Ritz , 2016 WL 2842452 (2016).

article thumbnail

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Senators Tammy Baldwin, Sheldon Whitehouse, Sherrod Brown, Elizabeth Warren, and Richard Blumenthal introduced the Medical Bankruptcy Fairness Act of 2021. The act would reform the current bankruptcy code due to the COVID-19 pandemic. On February 2, U.S. For more information, click here.