Bankruptcy Practice Group

Designing A Credit Application That Works For Your Business (And Not Your Customer)

Bankruptcy Practice Group, Business Law Practice Group, Creditor's Rights, Litigation, Uncategorized /

Few customers offer to pay in cash.  Most want some form of credit.  What credit you extend results from an objective and subjective assessment of the prospective customer’s credit-worthiness.  The steps you take to assess credit worthiness can mean the difference between a good paying customer and one who can, quite literally, put you out […]

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Bankruptcy Court’s Equitable Powers Not Unlimited

Bankruptcy Practice Group, Business Law Practice Group, Creditor's Rights, Litigation /

Lest we forget, the U.S. Supreme Court recently reminds us that Bankruptcy Courts, unlike other federal courts, are courts of equity and law; however, while bankruptcy judges have a great deal of discretion to carry out the philosophy and purpose of the Bankruptcy Code, that power is constrained. In Law v. Siegel, the Supreme Court

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Responding to Preference Demand Letters- a Primer

Bankruptcy Practice Group, Business Law Practice Group, Creditor's Rights, Uncategorized /

A debtor’s bankruptcy is never a good thing (usually it means little or no payments on the debt will be forthcoming). Even greater insult to this injury is to receive a demand letter from a chapter 7 Trustee asking that you return funds paid to you by the account debtor in the days or months

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Is a Credit Cap Bid in Your Future?

Bankruptcy Practice Group, Creditor's Rights, Uncategorized /

In a much criticized decision, a bankruptcy court in Delaware recently held that cause existed to limit a secured creditor’s right to credit bid its claim at the amount it paid to purchase the claim.  In re Fisker Automotive, 2014 WL 210593 (Bankr. D. Del. 01/17/2014). Fisker, involved in green energy, manufactured electric vehicles financed

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