'Triggering Event Test'
In the preference avoidance context, the insolvency of the debtor is an element of the <I> prima facie</I> case that is not commonly litigated. When it is litigated, however, the scope of a debtor's liabilities can make or break the case.
Over-Secured Lenders and Requests for Attorneys' Fees
The United States Court of Appeals for the Fifth Circuit recently reaffirmed the long-established rule that an over-secured lender's legal and other fees are subject to court approval as reasonable under section 506(b) of the Bankruptcy Code.
Calculating Structured Judgments
Historically, a defendant would become obligated to pay the full amount of a personal injury judgment in a lump sum as soon as the judgment was entered. In 1985, New York enacted a Periodic Payment of Judgments Act as part of the State's effort at tort reform.
Changing the Law Firm Business Model
If a law firm wants to conform to a client's need for responsiveness in the new competitive environment, big changes are required in its business model and, culturally, lawyers need to recognize that other professionals are better at certain tasks than lawyers.
Deferred Compensation Plans under Section 409A
Section 409A applies to any arrangement that postpones payments of compensation to subsequent years. The Notice spells out what is and is not deferred compensation, Single-person Plans, "defined benefit" non-qualified plans, Supplemental Executive Retirement Plans (SERPs) and arrangements for non-employees (directors, trustees and independent contractors).
Plugging Profitability Leaks
We've long known that vague, incomplete or misunderstood instructions from partners to associates is a prime source of profitability leaks ' revenue lost because of all the time spent on reinventing the wheel, because of do-overs, and because of significant amounts of time written down or eventually written off. We've also long known that an amazingly simple delegation improvement technique can help reduce write-downs of time by up to 18%.
Law Firm Security Pressures Alleviated With Financial Strategies
We know the consumer-industry stories of hackers infiltrating Target and, more recently, Home Depot. Law firms are now at the center of the storm because they store some of their clients' most sensitive business information and are viewed by criminal elements as a less-defended path to that data. Firms must take care to understand and respond to evolving security trends with response strategies.
Spinning Off an Underperforming Division
Spin-offs have become a common way for corporations to address underperforming assets. However, if the newly spun-off company runs into financial difficulties, it can be, and often is, second-guessed by creditors and lawsuits can follow.
What Happens to Your Digital Estate After You Die?
Ever wonder what happens to your social media accounts, e-mail, online texts and other digital content when you die? Do they simply expire, leaving nothing behind but digital dust? Or can you authorize someone to take them over after you pass on? And if so, what powers would such a person possess?
