Weil partner, Debra Dandeneau will be the moderator at an upcoming ABA webinar, Pursuing and Defending Alleged Fraudulent Transfers, taking place Wednesday, December 10, 2014 at 1:00 p.m. ET.
Topics covered will include: litigating fraudulent transfer/conveyance actions, the legal and financial challenges in identifying, proving, and ultimately unwinding fraudulent transfers, and the interplay between counsel and an expert witness in the analysis and litigation of fraudulent transfers.
Visit the ABA website for additional information and to register.

(posted 7 hours 13 min ago)

Should a membership agreement governing a debtor’s interest in an LLC be treated as property of the estate or an executory contract? Equally, should a debtor’s economic and non-economic interests in an LLC be treated as property or a contractual right? Can’t make up your mind? Don’t worry—the bankruptcy courts can’t either.

(posted 11 hours 49 min ago)
Shenwick & Associates
(posted 13 hours 13 min ago)

By: Raymond P. Wendolowski, Esq. One of my favorite hobbies […]
The post Fantasy Football and the Practice of Law appeared first on Bernstein-Burkley, P.C..

Bernstein-Burkley, P.C.
(posted 13 hours 33 min ago)

Citing Ninth Circuit precedent from cases under the Bankruptcy Act, , the Ninth Circuit BAP reluctantly held that a pre-petition state court civil contempt proceeding is exempt from the automatic stay of sec. 362 of the Bankruptcy Code.  The decision of the BAP is Yellow Express, LLC v. Mark Dingley (In re: Dingley), 514 B.R. 591 (9th Cir. BAP 2014).

Creditors' Rights
(posted 14 hours 15 min ago)

3713942772_39deeab9cf_zIf the mortgage company provides your property insurance, you are not in good hands.
No matter how much time it saves you.
Your lender is not a good neighbor when it comes to insurance.
When your insurance lapses
Somehow my client let her homeowners insurance lapse.  She wasn’t worried about it, she told me, because the mortgage lender had gotten insurance on her home.
She was content she said to let the lender take care of that complication in her life.
Only the complication wasn’t being “taken care of” because the lender’s force-placed insurance didn’t protect my client or her interest in her home.
Lender protects only themselves
Normally, you pick out an insurance carrier to insure your home and the risks that property owners have.
Your mortgage requires that you insure the property and name the lender as an additional insured.  That way, if the house which is part of the collateral for the loan burns down, the lender gets all or part of the insurance proceeds to make up for the loss of the structure.

(posted 14 hours 40 min ago)

thanksgiving soldiers
I hope everyone enjoys their time with family and friends on this day of giving thanks ! May we all look forward to a new year of helping one another and giving thanks for all of our family and friends. Let us always remember those that made our freedom possible and remember them as they share Thanksgiving away from family and friends.
photo credit: The U.S. Army via photopin cc

(posted 15 hours 1 min ago)

NII Holdings Inc. on Monday announced a restructuring deal that would put the Latin American Nextel carrier in the hands of its bondholders. Read Joe Checkler’s Daily Bankruptcy Review story in The Wall Street Journal.
(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit our homepage, scroll to the bottom and click “try for free.”)
Trump Entertainment Resorts Inc. has offered to restore health care and some pension benefits to unionized workers in a bid to keep the Trump Taj Mahal casino from closing in December, reports DBR’s Peg Brickley in the Journal.
Detroit’s Chapter 9 bankruptcy won’t officially end until at least Dec. 8, the Detroit Free press reports.

WSJ.com: Bankruptcy Beat
(posted 16 hours 6 min ago)

Colony Beach & Tennis Club Ass’n, Inc. v. Colony Lender, LLC (In re Colony Beach & Tennis Club, Inc.), 508 B.R. 468 (Bankr. M.D. Fla. 2014) – Three affiliated debtors (RMI, CBTC and CBI) proposed a plan of reorganization that, among … Continue reading →

(posted 18 hours 14 min ago)

Columbus Blue Jackets defenseman Jack Johnson has filed for bankruptcy, according to the Columbus Dispatch.
Johnson, 27, is in his ninth NHL season. He is slated to earn $5 million this season. However, due to his parents' mismanagement, he won’t see a dime.
After splitting from his agent Pat Brisson in 2008, Johnson gave power of attorney to his parents. With his fortune in their control, his parents took out a series of high interest loans in his name after Johnson signed a seven-year $35 million contract with the Los Angeles Kings in 2011.
The first loan Johnson’s parents took out was for $1.56 million, used to purchase a home in Manhattan Beach, California. The loan included a 12 percent interest rate and a down payment of $1 million.
Just one day after signing the home loan, the Johnsons took out a $2 million personal loan from U.S. Congressman Rodney L. Blum, also with a 12 percent interest rate.
Hardly one month later, the Johnson took out a $3 million personal loan—this one at 24 percent interest. The loan was funded by Pro Player Funding.
Not even a month later, Johnson was sued by both Pro Player Funding and Congressman Blum; he reached a settlement with both parties that included garnishing his wages.

Total Bankruptcy
(posted 1 day 7 hours ago)