A fellow bankruptcy attorney recently posed an interesting question regarding the dischargeability of an obligation to pay workers compensation insurance premiums.
General Motors LLC (“New GM”) came into being in the summer of 2009, when it acquired substantially all of the assets of General Motors Corporation (“Old GM”) in a sale undertaken pursuant to section 363 of the Bankruptcy Code.
We have been following the Mwangi case since 2010 when we first heard of Wells Fargo placing a “temporary administrative pledge,” known as a “freeze” on a debtor’s bank account after it discovered that they had filed bankruptcy. You can read the first article here and the follow up article here.
In the recent decision of In re Genco Shipping & Trading Ltd., the United States Bankruptcy Court for the Southern District of New York approved certain non-consensual third-party releases granted by unimpaired creditors and equity holders, to the extent that they complied with the US Court of Appeals for the Second Circuit’s standard for approval of these releases.
Charlie was a bad man. With his aggressive personality he intimidated and threatened others if they didn’t give into what he demanded.
When times get desperate and tax liabilities pile up – filing for bankruptcy is an option many people consider. Taxes are “dischargable” in bankruptcy, but there are important rules you need to know.
In opinions, argument and commentary concerning avoidance actions under Chapter 5 of the Bankruptcy Code, the point is often made that certain transfers are “void” whereas others are merely “voidable.”