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A divided U.S. Supreme Court ruled 5-4 Monday that the federal income tax liability that resulted from a debtor's post-petition farm sale is not "incurred by the estate" for the purposes of 11 U.S. Code Section 503(b).
In Matter of Pro-Snax Distributors, Inc., a panel of the Fifth Circuit made the uncontroversial ruling that a chapter 11 debtor's attorney could not recover attorney's fees from the bankruptcy estate after appointment of a trustee.
Stories of Warren Sapp's bankruptcy filing has been all over the news lately. It's hard to imagine he'd find himself in such a predicament. After all, he's a pro-bowler with at least $40 million in career NFL earnings.
When a Ponzi scheme breaks, the government rushes to forfeit the assets that constitute or are derived from proceeds traceable to the crime. At the same time, creditors try to grab those very same assets for themselves.
The latest buzz in the Ponzi world is over the $852,000 arbitration award that former Congressman Alan Grayson won against Wachovia Securities on April 3, 2012.
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NEW YORK - (Mealey's) GMAC-RFC Holding Co. LLC filed for Chapter 11 bankruptcy in…
On this edition, Kathy Bazoian Phelps of Danning, Gill, Diamond & Kollitz, LLP…
Did you know... that the court may, in special circumstances, exercise its discretion…
On June 23, 2011, the Supreme Court ruled 5-4, in an opinion by Chief Justice Roberts…
LexisNexis Core Terms: postpetition, administrative expenses, farmer, entity, income…
Partner, Levenfield Pearlstein, LLC
Partner, Klee Tuchin Bogdanoff & Stern LLP
Professor of Law, Hostra University
Attorney; Editor-in-Chief, Collier on Bankruptcy
Partner, Weil Gotshal & Manges LLP
Archivist, Biddle Law Library, Penn Law School
Associate, McMillan Metro, P.C.
Should H.R. 2533, the “Chapter 11 Bankruptcy Venue Reform Act of 2011,” be enacted to amend 28 U.S.C. § 1408 to prevent forum shopping & the filing of chapter 11 cases in SDNY and Delaware?