The Eleventh Circuit Fundamental-LY Approves of Bar Orders

On October 19, 2017, the Eleventh Circuit Court of Appeals stated “a bankruptcy court can enjoin any civil action if the outcome could alter the debtor’s rights, liabilities, options, or freedom of action or in any way impacts upon the handling and administration of the bankrupt estate.” In re: Fundamental Long Term Care, No. 16-16462, […]

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The Life Settlement Industry – Bankruptcy Issues – Part 3

  This third installment of our series delves into the following issues: (1) Are life settlements viewed as securities under applicable state law?  (2) How can the debtor-in-possession, i.e. the debtor in a Chapter 11 bankruptcy case (“DIP”) or the trustee avoid the life settlements going in to grace and/or lapsing due to insufficient funds […]

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Homecourt Advantage: Pitfalls, Challenges and Opportunities regarding nonparty witness subpoena motion practice in Federal District and Bankruptcy Court

  Practitioners Beware: When a client located in the state in which you practice law is served with a subpoena from a federal court located in another state, only the relevant federal court in your state (whether district or bankruptcy court) can adjudicate a motion to quash or otherwise modify the subpoena.  A recent decision […]

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Financial Institution Bankruptcy Act of 2017 – Big Changes for Big Banks

When the real estate market and financial markets tumbled during 2007-2008, the fallout was felt by financial institutions from large multi-billion dollar banks to small Community Banks.  As these banks struggled to stay alive, a trend emerged for bank holding companies to market and sell a distressed bank through Section 363 of the Bankruptcy Code.  […]

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Don’t Rob Peter to Pay Paul

When businesses experience financial difficulties, it is very common for them to “rob Peter to pay Paul.” Occasionally, this takes the form of using taxes that have been withheld from employees’ paychecks to pay expenses instead of remitting those funds to the IRS.  Of course, it is well known that even though such obligations are […]

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“The Life Settlement Industry – Bankruptcy Issues – Part 1”

A “life settlement” is the sale of a life insurance policy to a third party for a value in excess of the policy’s cash surrender value, but less than its death benefit.  The life settlement industry focuses on the purchase and sale of life settlements or fractional interests in life settlements to investors.  These investors […]

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