Bankruptcy Blogs

Dead Zone? Direct Claims by Creditors of a California Corporation May Not Lie Against Management Based on Management's Allegedly Shifting Duties When Corporation Is in the Zone of Insolvency or Even Insolvent

08/25/10

The California Court of Appeal recently rejected the argument that directors and officers owe fiduciary duties to the company's creditors when the company is in the so-called "zone of insolvency," or is even clearly insolvent. In Berg & Berg Enterprises, LLC v. John Boyle, et al., 100 Cal. Rptr. 3d 875 (Cal. Ct. App. 6th Dist. Oct.

[more]

Dead Zone? Direct Claims by Creditors of a California Corporation May Not Lie Against Management Based on Management's Allegedly Shifting Duties When Corporation Is in the Zone of Insolvency or Even Insolvent

08/25/10

The California Court of Appeal recently rejected the argument that directors and officers owe fiduciary duties to the company's creditors when the company is in the so-called "zone of insolvency," or is even clearly insolvent. In Berg & Berg Enterprises, LLC v. John Boyle, et al., 100 Cal. Rptr. 3d 875 (Cal. Ct. App. 6th Dist. Oct.

[more]

Modified Universalism - Rubin & Lan v Eurofinance

08/24/10

Rubin & Lan v Eurofinance involved a "novel, though we believe inevitable and desirable, development of the common law" (according to Lord Justice Ward). Founded on the principles of modified universalism (insolvency proceedings are collective, dealing with all assets for...

[more]

Bankruptcy Filings Up 20% in June

08/17/10

Click on the image above to see a larger version of a map demonstrating bankruptcy filings per capita by county in the United Sta

[more]

Bankruptcy Filings Up 20% in June

08/17/10

Click on the image above to see a larger version of a map demonstrating bankruptcy filings per capita by county in the United Sta

[more]

Modifying Your Mortgage in Chapter 13 Bankruptcy

08/12/10

New mortgage modification rules make it easier to combine a HAMP or "Obama Plan" mortgage modification with a Chapter 13 Bankruptcy. Combining a HAMP mortgage modification may be beneficial to many homeowners.

[more]

"...and Wining, Winning, Winning" - (re-post)

08/12/10

As a solo practitioner I must acknowledge my work limitations; I cannot compete against the Boston or other big-city law firms employing 20 or more attorneys.

[more]

New Credit Card Protections Trigger Higher Fees by Card Issuers

08/10/10

As you may know, last year Congress passed a law called the Credit Card Accountability Responsibility and Disclosure Act of 2009.  This law, nicknamed the CARD Act of 2009, was designed to regulate a variety of unpopular credit card tactics, such as interest rate increases without notice, inactivity fees and unfair interest calculations.

[more]