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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. Is there a general requirement that these avoidance powers only be used when doing so would benefit creditors? Glove, Inc. (“Plaintiff”) is a manufacturer of gymnastic grips and wrist supports.

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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. The Court further noted that fraudulent conveyances at common law did not require a misrepresentation by a debtor to his creditor.

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

PBWT

“[E]nsnared between his involvement in a business that is legal under the laws of Arizona but illegal under federal law,” one debtor’s chapter 13 petition was recently dismissed due to his undisputed violations of the Controlled Substances Act. ” Facing significant debt, Mayer filed a chapter 13 petition in the U.S.

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Releases: How Did We Get Here and What is Next?

PBWT

As a result of Purdue Pharma’s proposed plan of reorganization, and the ongoing opioid epidemic that continues to grip the nation, the debate over non-consensual third-party releases has gone mainstream despite being a popular tool for debtors for decades. In that case, the plan provides for a $2.7 20-10343, ECF No. 9114 at ¶ 206.

Debtor 65
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Debt Collection Settlements: Can Parties Include Terms for Future Deals

FFGN COLLECT NY

An issue that comes up time and time again in debt collection settlements is whether parties can continue doing business together even though the creditor has placed the account for collection. The debtor may allege their business can not survive without the creditor’s product. It happens more often than you would think.

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Burr’s Derek Meek and Mike Hall Named to Lawdragon’s Inaugural Leading Bankruptcy Lawyers List

Burr Forman

Derek is the chair of the firm’s Creditors’ Rights and Bankruptcy practice group and a Fellow in the American College of Bankruptcy. Derek regularly represents debtors, creditors, committees, asset purchasers and other clients in matters related to insolvency, financial distress, and bankruptcy, both in and out of court.

Lawyers 40
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How a Debt Collection Agency Can Help Your Cash Flow

Credit Management Company

While healthcare providers are most commonly associated with debt collection, lenders, manufacturers, service companies, retailers, contractors, and even independent contractors can benefit. Monitoring when certain debtors become solvent. billion for creditors in 2016 while only charging $10.9 Offering online payment options.