Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
As we work remotely and prepare for the anticipated increase in bankruptcy filings caused by the COVID-19 pandemic impact on the economy, many practitioners are trying to compare this cycle to cycles past, going back all the way to the savings and loan crisis of the late 1980s. One of the co-authors never ceases to be amazed by issues that keep coming up in bankruptcy cases cycle after cycle. One of them is whether a personal guaranty of a commercial lease is discharged in the bankruptcy of the individual guarantor. Court decisions have split on this issue for years.
The issue was recently considered by the bankruptcy appellate panel for the U.S. Court of Appeals for the Sixth Circuit in Orlandi v. Leavitt Family Limited Partnership (In re Orlandi), Case No. 19-8001 (Feb. 28, 2020). The court held that a prepetition guaranty given by the debtor was a contingent claim discharged by the bankruptcy. The court also analyzed and interpreted a recent U.S. Supreme Court ruling on what constitutes a willful violation of the discharge injunction.
The opinion recited the relatively straightforward facts of the case. The debtor owned a salon in Mayfield Heights, OH. In 2005, the debtor signed a shopping center lease on behalf of the business salon entity and executed a personal guaranty of the salon's lease obligations.
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.