small business

Promoting Integrity in the UCC Article 9 Recording System

03/16/12

On January 1, 2011, Larry files a UCC-1 financing statement against David indicating David's equipment as collateral. At this point, David doesn't even know Larry, has not given him a security interest, and has not authorized this filing. On February 1, 2012, David meets and borrows money from Larry and signs a security agreement listing equipment as collateral (which, under UCC 9-509, automatically authorizes the filing of a financing statement against equipment). What is the relevant date for determining Larry's priority? The language of Article 9

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Montana Small Business Bankruptcy: Who is Responsible for the Debt?

02/09/12

I get this question regularly (weekly) from  a lot from Montana small business owners who are considering small business or personal bankruptcy. The answer is: it depends. For many Montana small business owners the line between personal and business finances is often blurry. Montana business owners are especially hard working folks who put their blood, [...]

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Your Favorite Business Bankruptcy/Restructuring Lingo: A Word of Thanks

01/13/12

Just a word of gratitude to readers for providing great responses to the prior call for corporate bankruptcy lingo. Thanks to your help, UNC Law's advanced business bankruptcy students are collaboratively examining such terms through a wiki and this will help them make an even smoother transition into the professional world. If any new lingo comes to mind, don't hesitate to pass it along! 

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Where Can I Get a Used Car Loans with Bad Credit

01/03/12

If you are looking new car for your personal use, office use & other use or you have no good credit for buy new car but you have need a car then you have used car is a second option. Because most of people are purchase used car for personal use because they have no [...]

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Revamping the Advanced Bankruptcy Class

12/19/11

Thanks, Bob, for welcoming me back. I'd like to start with a quick poll. Credit Slips readers, off the top of your head, what short writings (say 5 pages or fewer) should law students be doing that would be directly relevant to business bankruptcy practice? They can be related to business cases of any size, and can be litigation, counseling, or transactionally oriented. If you'd prefer to write me directly than to comment below, I welcome your thoughts at [email protected].

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Will Bankruptcy Get Rid of My Small Business Debts?

10/28/11

Small Business Debts & Bankruptcy Your business is in trouble and you want to know whether filing personal bankruptcy is necessary or whether you can just walk away without fear of your creditors chasing behind you. First thing first, identify whether you’ve personally guaranteed your business debts or whether your business entity protects you from [...]

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Small Business Bankruptcy and Debt

10/27/11

An excellent article from the legal website JD Supra about Small Business Bankruptcy and debts. It is very important to always give complete information to your bankruptcy attorney about who is responsible for the debt of your business.  For example, did you personally sign and guarantee the debt, or did you just sign the debt [...]

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Defiant Texas Congressman Ruben Hinojosa fights efforts to unseal his bankruptcy petition

06/26/11

When Texas Congressman Ruben Hinojosa, who represents the 15th District which goes from McAllen at the Mexican border through Corpus Christi and up to Victoria, voted for the bankruptcy reform bill BAPCPA in 2005, little did he know that he would be subject to its provisions himself. Congressman Hinojosa whose family business has a loan [...]

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GDP down as UK economy faces a double dip

01/25/11

The latest GDP figures released this morning by the Office of National Statistics show a contraction of the UK's economy for the last quarter of 2010 by 0.5%.This is despite forecasters expecting growth of between 0.2%-0.6%. More than three years...

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