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 . . .Ya Filthy Animal causes Trademark Dispute
The legal world is replete with stuff you just can’t make up. I’ve written previously on the need of business owners to allocate funds for legal expenses – because they will arise. What do you do when a potential online attack takes place that shuts down all of your sales?
KEEP READING . . .How a Business Small Claims Court Case Works in New York City
We applaud people for taking risks and starting their own businesses. Whether through the traditional brick-and-mortar storefront or amidst the interwebs, people start their own businesses each and every day in the hopes that their creation will return handsome profits. Unfortunately, part of the business owner’s operating expenses MUST include legal fees. Not just legal fees […]
KEEP READING . . .Pro Se Debtors Must Comply With Court Directives
I understand the want to handle legal matters by yourself. The thought of having to pay legal fees makes almost everyone cringe in fear. The practice area does not matter, I see it every day. Bankruptcy. Landlord-Tenant. Commercial litigation. No one wants to pay for attorneys fees. Additionally, there is a thought floating around that […]
KEEP READING . . .Is Bankruptcy for a Business a Good Thing?
As the economy of the United States continues to grow, and access to lines of credit are freeing up, new businesses are starting to proliferate. Personally, I think that is a great sign. Unfortunately, however, the reality is that many new businesses fail. Whether it was due to poor planning, inefficient distribution of resources and […]
KEEP READING . . .Why filing for bankruptcy is a lot like having an ileostomy . . .
In about a month, it will have hit the one-year anniversary of my having to have an emergency colon resection and ileostomy installed. I understand that this is fairly graphic and personal, but bankruptcy could feel the same way for those who are thinking about it.
KEEP READING . . .