What to look for when buying or selling a business in NYC
Businesses make the world run. They are assets that give rise to jobs, money, innovation, growth – any number of other amazing products that you can think of. For the people behind the business, buying and selling them are ways to leverage the opportunity. If you’re buying or selling a business in NYC, check out […]
KEEP READING . . .Getting Sued by a Landlord for Breaking Your Lease Early? Maybe Not
When most people rent an apartment, there’s generally a lease involved. A lease is a written agreement that offers security to a landlord that a stream of income can be relied upon. A lease also offers security to a tenant that they just can’t be evicted for no reason. In many leases, there is language […]
KEEP READING . . .In bankruptcy, is there a difference between a “debt” and a “claim”?
Legal cases often hinge around very fine, technical distinctions between words. This is one of those times. In this article, we’ll take a look at a very important issue: in bankruptcy, is there a difference between a “debt” and a “claim?”
KEEP READING . . .If makes fraudulent transfers after a judgment is issued, does that make the debt nondischargeable in bankruptcy?
Fraudulent transfers and preference payments are some of the more regularly litigated matters within a bankruptcy case. A fraudulent transfer generally refers to a transfer of assets made by a debtor with the intent to hinder, delay or defraud the creditor. A preference generally occurs when a debtor pays one creditor more than that creditor […]
KEEP READING . . .Using Bankruptcy to “Strip” Liens on Investment Property
One of the great tools bankruptcy provides is the ability to avoid undersecured and wholly unsecured liens (often referred to as “stripping down” a lien or “stripping off” a lien). If you owned investment properties that are currently underwater, what if I told you there might be a way to reduce the outstanding mortgages on […]
KEEP READING . . .Case Review: Judge tells Louis Vuitton that sometimes it’s better “to smile or laugh than it is to sue”
Parties seek the protection of intellectual property (such as trademarks and copyright) to create a highly recognizable brand, separating itself from all the competition. When another party seeks to profit off of your designs, you expect to enforce your rights in your intellectual property by suing. What happens, though, when another party creates a parody […]
KEEP READING . . .What does Limited Liability really mean for you and your business? A bankruptcy case explains it clearly.
When working with both individuals and businesses (both new and ongoing), I often get asked whether the corporation that is or was created will protect them from liability (in the general sense). I try to give my best response to such an open-ended question, which is usually something like, “[w]hen done right, a corporate entity […]
KEEP READING . . .Chapter 13 Bankruptcy Debtors MAY Object to Claims Filed Post-Confirmation
Chapter 13 bankruptcy offers debtors a flexible and versatile way to deal with debts, especially when they may not qualify for chapter 7 bankruptcy, or are attempting to obtain a result not available in chapter 7 cases. For sure, there may be bumps in the road, especially when institutional creditors file documents attempting to obtain […]
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