Many people have very little understanding of the exact nature of bankruptcy crime. The United States attorney and trustee receive complaints alleging bankruptcy frauds that fail to state a crime even if all of the allegations are considered true. See Maureen...

Several provisions of the Bankruptcy Code are designed to afford small business debtors an accelerated, more efficient, and less expensive mechanism for reorganizing their businesses by eliminating the requirement for the appointment of a creditors' committee...

Every business that extends credit has had to deal with customers filing bankruptcy. If you receive a frantic call from a client who has just received notice that a customer who owes on an account has filed or is going to file bankruptcy, you’ll need...

Federal Reserve Chairman Ben Bernanke announced that in 2007 there were 1.5 million home foreclosures, up 53 percent from 2006, and it looks as though 2008 the rate of new foreclosures will be even higher. One of the issues debated in Congress is whether...

Consumer bankruptcy filings are on the rise due to mounting consumer debts, medical debts, and sub-prime mortgage foreclosures. For example, filings increased 37.1% nationwide in June 2007, compared to June 2006. In particular, bankruptcy filings for those...

The economic slowdown that began early in 2007 will continue to increase companies’ bad debts and risks and was predicted to result in 30,000 business bankruptcy filings for 2007, a 51% increase over 2006. As a result, midsized and large law firms...

Bankruptcy Code section 503(b)(1)(A) makes clear that among the actual necessary costs and expenses of preserving an estate are wages, salaries or commissions for services rendered after the commencement of the case.   The Different Priority Accorded...

Varieties of Fraud   Fraud and its effect upon exemptions assume many shapes and forms. Frequently, the alleged fraudulent conduct occurred before the initiation of the case, such as false statements made to obtain credit, acquisition of property...

A fourth priority is available under Bankruptcy Code section 507(a)(4) for allowed unsecured claims for wages, salaries and commissions, including vacation, severance and sick leave pay earned by an individual. It is also available for sales commissions...

Bankruptcy law is the statutory procedure by which a person is relieved of some or most of his/her pre-bankruptcy debts. Bankruptcy is essentially a matter of federal law, governed by the United States Bankruptcy Code. Bankruptcy presents work for both debtors’...

  ·        Title 11, United States Code; ·        Federal Rules of Bankruptcy Procedure; ·        Local rules and standing orders...

Interested in practicing in the Bankruptcy area? Here’s what you have to look forward to. Stated most generally, bankruptcy lawyers work within the context of persons and entities seeking protection under the Bankruptcy Code.   ·...