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Bankruptcy, Insolvency and Creditors’ Rights
SCOTUS to Settle Chapter 7 Lien-Stripping Circuit Split
On November 17, the Supreme Court granted certiorari in the consolidated cases of Bank of America v. Caulkett (Dkt. 13-1421) and Bank of America v. Toledo-Cardona (Dkt. 14-163). At issue in these appeals is whether...
Your Guaranty Might Be Invalid In Kentucky
As I've mentioned before, Kentucky law is quirky in many respects. Unlike most states, Kentucky's fraudulent transfer statute is essentially bespoke, adopting neither the Uniform Fraudulent Transfer Act or the Uniform Fraudulent Conveyance Act. Kentucky's...
Am I The Creditor's Authorized Agent? (Or: The Article That Ensured I Will Never Sign a Proof of Claim)
Jonathan Young and Dana Hefter wrote a great article in the August 2014 ABI Journal examining In re Rodriguez, Adv. No. 11-07012 (S.D. Tex. June 5, 2013), in which Judge Isgur held that an attorney...
Goodbye UFTA, Hello UVTA
If you're in the business of what the original Statute of Elizabeth called "the avoiding of feigned, covinous and fraudulent feoffments," and if you're in one of the 25 states currently utlizing the Uniform Fraudulent...
Unfinished Business: SCOTUS Grants Certiorari on More Stern v. Marshall Issues
If a time-traveler had visited me in the mid-1990s and told me that I would attend law school, I wouldn't have believed it. If that visitor told me that I would graduate and subsequently become...
SCOKY Reverses ‘Secret Lien’ Holding!
Worried about secret liens trumping your perfection? Imagine funding a loan under the assumption that you had a first-priority security interest in a debtor's assets to only have the government assert a secret lien over...
SCOTUS: Inherited IRAs Not Exempt
Earlier this month, the Supreme Court issued a unanimous ruling in Clark v. Rameker, 573 U.S. __ (2014) holding that inherited IRAs do not qualify for the retirement funds exemption in 11 U.S.C. 522(b)(3)(C).Section 522(b)(3)(C)...
Protecting the Lender: Strategies for Extending Credit to Health Care Providers
Contrary to popular belief, lending to a doctor is risky business. The business of a health care provider is specialized and, therefore requires specialized lending. Lenders cannot simply repackage loan documents used for other industries...