Real Property Sale Proceeds Must Be Paid First to Unavoided Portion of IRS Tax Lien
November 01, 2024
Given the downward pressure on commercial real estate valuations in many areas, and the increasing likelihood that owners of real property will cease paying real property taxes when there is no longer any equity, we decided to report on a recent decision issued by the Ninth Circuit that reversed a decision of the bankruptcy court allocating the distribution of the proceeds of a sale of real property pro rata between the IRS, on account of its tax lien, and the bankruptcy estate.
J&J's Bankruptcy Vote Has Some Claimants' Lawyers Calling for a Recount
November 01, 2024
The presidential vote is just a few days away, but the ballots in Johnson & Johnson's talc bankruptcy have lawyers already asking for a recount. At an Oct. 21 hearing, lawyers for thousands of talcum powder claimants clamored to crack open the confidential vote tabulation behind J&J's $9 billion prepackaged bankruptcy plan.
Delaware Faces Challengers But Maintains Lead In Bankruptcy Filings
November 01, 2024
Large corporations filing for bankruptcy continue to turn to Delaware more than any other venue nationwide, according to a new report from Cornerstone Research. While Delaware has long tallied more large corporate bankruptcies than any other jurisdiction, the gap between it and the next most popular venue, the Southern District of Texas, has widened in 2024.
Credible Fraudulent Transfer Advocacy
October 01, 2024
Appellate courts continue to use common sense when disposing of constructively fraudulent transfer appeals, as recent decisions show.
Congress' Failure to Extend Subchapter V Debt Limit Hurts Small Businesses
October 01, 2024
Where it applies, Subchapter V has been a great success. But, much of that success was due to a temporary change to the law that allowed more companies to qualify for Subchapter V treatment. That change has now expired, taking with it the only viable avenue for many businesses to reorganize.
How to Check a Privately-Held Company's Creditworthiness
October 01, 2024
How do you check on a company's creditworthiness when the company is privately held and does not make its financial statements publicly available? The answer is that you need to check alternative sources of information for hints as to whether the company is experiencing problems. This article provides some questions to ask to help recognize the warning signs in the answers.