Foreclosure 101

Bankruptcy may be the solution to mortgage foreclosures. A bankruptcy lawyer can assist a debtor in understanding to foreclosure issues, or negotiate with a lending institution. The volume of foreclosures is still great. Certain foreclosure procedures are not followed as a shortcut to taking back the home from debtors. Mortgage loans used to be done […]

Bankruptcy May Deter Employment

In Rea v. Federated Investors, 627 F.3d 937 (3d Cir. 2010), the court made clear the differences between public and private employers’ abilities to consider bankruptcy as a factor in the hiring process. The case makes people think twice about bankruptcy because bankruptcy may hurt someone’s employment opportunities, not just the credit score. The Federal […]

Bankruptcy and Intellectual Property

Intellectual property smacks with bankruptcy when a technology licensor has a debtor licensee who wants to assign the licensed rights to a licensor competitor. The Bankruptcy Code provides a debtor protection from spending to perform contract obligations with agreements are executory contracts. These agreements have material terms not yet performed by each party. For example, […]

Tax Discharge in New York Bankruptcy

Game News reported March 28, 2011, in “Trip Hawkins in serious shizzle over $20m tax bill” that the founder of Electronic Arts was rejected by a federal judge when he tried to use personal bankruptcy to cancel more than $20 million of federal and state tax obligations.  The gaming giant is responsible for mega-blockbusters like […]

Use of Cash Collateral in Bankruptcy

In a Chapter 11 case involving Delco Oil. Marathon, the federal court of appeals for the 11th Circuit forced Marathon Petroleum to return almost $2 million in cash paid to it by chapter 11 debtor. The case is persuasive authority for New York vendors dealing with a debtor in Chapter 11. To avoid credit risk […]