Fraser

JULY 21, 2020

Fortunately, the Bankruptcy Code provides creditors with certain defenses they can use to ward off a preference lawsuit, and Congress recently took action that strengthens those defenses. In reality, all kinds of creditors, including those who have valid defenses to preference claims, typically get sued regardless of their defenses.

Creditors 56

Creditors Bankruptcy Debtor Construction 56

Fraser

JUNE 25, 2020

Creditors of a bankrupt company must be aware of the various deadlines and procedures that govern the chapter 11 process in order to protect and enforce their rights. For creditors to maximize their recoveries, they must stay informed and take action during a bankruptcy proceeding. First Day” Motions. Proof-of-Claim Bar Date.

Creditors 72

Creditors Bankruptcy Unsecured Creditor Debtor 72

UK debt collections

JUNE 26, 2023

Data from the Insolvency Service yesterday showed that 2,552 companies were declared insolvent last month, overwhelmingly through creditors’ voluntary liquidations, in which a company’s directors agree to wind up the business without a formal court order.

Construction 59

Construction Retail Manufacturing Trade 59

Jimerson Firm

JANUARY 23, 2023

A recent opinion by a Florida appellate court, Construction Consulting, Inc. The Facts of the Case Construction Consulting, Inc. (“CCI”) CCI”) was party to a Master Contract with Broward College under which the College hired CCI to work on numerous construction projects.

Construction 52

Construction Creditors Judgment Government 52

UK debt collections

JANUARY 26, 2023

Winding Up Petitions issued by company creditors, meanwhile, which represent a serious harbinger of approaching financial distress, stood at 576 during Q4 2022, an increase of 131 per cent from Q4 2021. Enforcing an unpaid Business CCJ

Construction 95

Construction Manufacturing Creditors Government 95

Hudson Weir

FEBRUARY 28, 2023

Those the business owes money to are known as creditors. In this blog, let’s look at which creditors are paid first if the organisation ultimately becomes insolvent and its assets are sold to repay the balance due (a winding-up or liquidation). Secured creditors include leasing companies and banks.

Unsecured Creditor 52

Unsecured Creditor Secured Creditor Creditors Construction 52

PBWT

JANUARY 29, 2023

A big question in these cases is whether there will be any money to satisfy unsecured creditor claims. If there are funds to distribute, then the creditors’ claims will become more valuable, and the cases will become even more interesting. In 2022, there were several high-profile crypto bankruptcy filings.

Bankruptcy 65

Bankruptcy Debtor Creditors Unsecured Creditor 65

True Accord

MARCH 21, 2023

But what will that mean for lenders and creditors? As consumers battle high inflation and interest rates to afford necessities, budgets will be stretched and many will have to prioritize when and where they spend. Unsurprisingly, paying off debt will likely take a back seat to food, housing and transportation needs.

Student loans 79

Student loans Student Loans Loans Construction 79

ABI

JANUARY 19, 2024

In evaluating the Texas Business & Commerce Code and title 11 of the United States Code (the “Bankruptcy Code”), the United States Bankruptcy Court for the Southern District of Texas, in In Re Burts Construction, Inc., held that a secured creditor has the right to receive monetary payment for property sales based on its lien on “accounts.”

Secured Creditor 40

Secured Creditor Bankruptcy Debtor Collateral 40

Burr Forman

OCTOBER 20, 2021

Excerpt from the article: “There are two types of fraudulent transfers: actual fraudulent transfers, and constructive fraudulent transfers. ” To read more on this topic and learn about their five tips to guard against fraudulent transfer claims, click here to read the full article.

Banks 52

Banks Construction Debtor Creditors 52

UK debt collections

JUNE 16, 2021

The company acted as a broker for waste management services within the construction industry. Despite creditor concerns, Kathleen Shepherd assured creditors that outstanding invoices would be paid. This in turn caused the creditors to delay Commercial Debt Collection and enforcement action.

Trade 64

Trade Creditors Construction Collections 64

Nexa Collect

APRIL 11, 2021

A large number of creditors are stuck with unpaid invoices, and as their own efforts fail they tend to submit more accounts to collection agencies. One of the difficulties in accessing that data is the reporting of consumer information by creditors and by debt collection agencies, themselves.

Collections 130

Collections Collection Agencies Collections Agency Construction 130

NCBA Law Practice Management Blog

NOVEMBER 18, 2023

Think of it as stacking services, and constructing an offering that is more appealing to a legal consumer than a n hourly billing program. But , the best part about subscriptions and flat fees is that , generally speaking, law firms make more money doing work in that way, than they do on traditional billing – as much as 20-30% more , in fact.

Law Firms 52

Law Firms Construction Creditors 52

Hudson Weir

SEPTEMBER 11, 2023

Company assets could include anything from equipment and constructions to vehicles and intellectual property. Once a business is insolvent, directors’ duty must shift towards the company creditors – that includes any providers of unsecured or secured loans. What is a secured loan? Therefore, secured loans tend to be for larger amounts.

Loans 52

Loans Collateral Secured Creditor Unsecured Creditor 52

Sawin & Shea

MARCH 27, 2024

This form of bankruptcy differs from Chapter 13, which involves the evaluation of your current income to construct a three-to-five-year debt reorganization plan. This bankruptcy protection will prohibit a collection agency or another creditor from recovering debt or taking action against you.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy Creditors 52

Jimerson Firm

DECEMBER 22, 2022

An accord and satisfaction results as a matter of law only when the creditor accepts payment tendered on the expressed condition that its receipt is deemed to be a complete satisfaction of a disputed issue. Therefore, “[i]f a creditor does not assent to the condition, then the proper course of action is to return the check.

Debtor 52

Debtor Creditors Construction Collections 52

PBWT

NOVEMBER 10, 2021

A federal judge recently allowed a trustee’s preferential transfer claim against a law firm to proceed but dismissed a constructive fraudulent transfer claim. According to the court, these details constituted sufficient facts to show the law firm had received payments on account of antecedent debts and was a creditor. ” Id.

Bankruptcy 52

Bankruptcy Law Firms Debtor Construction 52

American Profit Recovery

NOVEMBER 2, 2022

Payment plans allow the consumer to get on with their lives and even continue to do business with the creditor that has not been paid. Most issues are resolved when people can get along and have meaningful and constructive conversations. Payment plans are always an option for a consumer in collections.

Collections 130

Collections Collection Agencies Collections Agency Debt collector 130

Burr Forman

JUNE 24, 2021

Troy Smith , Construction Litigation. Peter Vilmos , Construction Litigation. Robert Neilson , Creditor Debtor Rights. Greg Lunny , Business Litigation. Adrian Rust , Bankruptcy: Business. Ellsworth Summers, Jr. Bankruptcy: Business. Scott Thomas , Business Litigation. Eric Golden , Business Litigation. Rising Stars.

Lawyers 52

Lawyers Construction Bankruptcy Debtor 52

Fraser

SEPTEMBER 28, 2020

A creditor with a claim must often take affirmative action by filing a “proof of claim” form in order to preserve and protect its rights to payment. Even when a claim is scheduled, and assuming there are no reasons not to (see below), a creditor may choose to file a claim to guard against a debtor modifying or removing its scheduled claim.

Bankruptcy 52

Bankruptcy Creditors Debtor Construction 52

Hudson Weir

NOVEMBER 8, 2023

Examples of contingent liabilities A contingent liability may occur in the form of a legal or constructive obligation. A constructive obligation arises from past events and any actions of a company that reasonably suggest it will accept certain responsibilities. A legal obligation is one that a company is legally obliged to perform.

Construction 52

Construction Creditors Loans 52

Jimerson Firm

JANUARY 17, 2023

3d DCA 2002) (holding that an unsigned contract was valid and binding because, although the defendant nursing home did not sign it, it “acted as if they had a valid contract” by providing the plaintiff care for over two months); L & H Construction , 55 So. Both parties completed the construction, and the subcontractor filed suit.

Construction 52

Construction Creditor's Rights Government Commercial Collection 52

UK debt collections

NOVEMBER 4, 2022

Between 1 July and 30 September 2022 (Q3 2022), there were 5,595 registered company insolvencies comprising 4,800 creditors’ voluntary liquidations (CVLs), 492 compulsory liquidations, 274 administrations and 29 company voluntary arrangements (CVAs). Creditors’ Voluntary Liquidations (CVLs). There were no receivership appointments.

Creditors 52

Creditors Government Construction Loans 52

Consumer Financial Services Law

JANUARY 22, 2021

19-357, resolves this split in favor of the creditor. 2009), that a creditor must return a debtor’s vehicle upon the debtor’s filing a petition for bankruptcy in order to comply with the automatic stay. The case, City of Chicago v. Fulton, No. General Motors Acceptance Corp. , 3d 699 (7th Cir. 11 U.S.C. § quoting Citizens Bank of Md.

Bankruptcy 40

Bankruptcy Chapter 13 bankruptcy Construction Debtor 40

Troutman Sanders

APRIL 24, 2023

Despite the liberal construction typically afforded to pleadings filed by pro se litigants, the court dismissed the plaintiff’s complaint sua sponte for failure to state a claim. Though the plaintiff may have been confused, the defendant’s reporting of the loan from origination to charge-off provided a clear picture to would-be creditors.

Loans 52

Loans Secured Creditor Repossession Construction 52

PBWT

JANUARY 19, 2021

In 2019, we began following a Circuit split regarding a secured creditor’s obligation to return collateral that it lawfully repossessed pre-petition after receiving notice of a debtor’s bankruptcy filing. ” [ii] In December, the Supreme Court granted certiorari and on Thursday adopted the minority view. .’

Bankruptcy 65

Bankruptcy Debtor Creditors Secured Creditor 65

Jimerson Firm

SEPTEMBER 28, 2020

If a defendant cannot be located, then service may be effected by constructive service, i.e., service by publication, which is governed by Chapter 49, Florida Statutes. Before a defendant can be served by constructive service, the plaintiff must make a diligent search and inquiry to locate the defendant. Gualt , 259 So. 3d 119 (Fla.

Foreclosure 98

Foreclosure Construction Judgment Lender 98

Receivables Control

JULY 9, 2021

The construction industry is like the real estate market, yet the cost of supplies has increased greatly, fueling higher construction costs. Have other creditors sued? The real estate boom has created a shortage of existing and new home inventory for sale. The vacation industry is making a comeback. Have they received PPP funds?

Construction 98

Construction Collections Creditors Collection Agencies 98

Fico Collections

SEPTEMBER 3, 2020

million consumers — taking advantage of payment relief, the onus is on us to identify these customers and offer them constructive support through this crisis. With one in six of all mortgage holders — that’s 1.9 Ultimately it is in everyone’s best interest to get as many people as possible back on track with their finances.

Construction 52

Construction Debt collector Collections Banks 52

Qualco

SEPTEMBER 12, 2023

This approach involves taking proactive measures, even when the credit is still in good standing, and the creditor has not yet taken possession of the collateral. In such circumstances, adopting an Asset-Driven Approach becomes critical.

Collateral 105

Collateral Collections Financial Institution Loans 105

NCBA Law Practice Management Blog

MAY 24, 2020

Now, this will take some effort on your part: if you’ve never actually constructed workflows for your cases, organized by case types, it’s time to do so. But, putting in the effort will pay off in the long run. If your staff is following a consistent program, that should reduce or eliminate errors, including common, avoidable mistakes.

Law Firms 52

Law Firms Construction Lawyers Creditors 52

PBWT

MAY 14, 2021

Section 1519 authorizes a bankruptcy court to grant preliminary relief of an urgent nature if the requested relief is in the best interests of the foreign debtors and all creditors. This section balances the interests of debtors and creditors with the goal of forcing the parties to negotiate in and out of court once the stay is implemented.

Debtor 65

Debtor Bankruptcy Creditors Trade 65

NCBA Law Practice Management Blog

MAY 6, 2022

In that situation, it usually ends up that law firms construct intake programs that don’t reflect relevant trends respecting legal consumers, and that are created for the ease of use of the law firm, and not for the ease of use of the consumer. Need help building an intake system? We can help.

Law Firms 52

Law Firms Construction Lawyers Creditors 52

FFGN COLLECT NY

JUNE 24, 2020

An account stated is a demand by a creditor to a debtor for all amounts owed from transactions between parties as of a certain date. A lawsuit brought prior to the creditor properly sending notice can have a detrimental impact on a collection court case.

Debtor 52

Debtor Creditors Construction Collections 52

Fico Collections

NOVEMBER 9, 2020

Working from a large, nationally representative sample of 70 million consumers, we examined recent data from July 2020 to discover whether there is a correlation between creditor accommodations granted during the COVID-19 crisis and consumers’ FICO Resilience Index values calculated before the crisis, as of January 2020.

Lender 52

Lender Credit Bureau Loans Construction 52

NCBA Law Practice Management Blog

FEBRUARY 23, 2020

Start to build a brand, and use that as a touchpoint to construct a more meaningful client experience. C’mon, you know you want to. At the very least, create a new logo. You know you’re logo is boring. Embrace the opportunity. Engage a new opportunity outside of your comfort zone. In other words, get hungry again.

Law Firms 52

Law Firms Startups Construction Creditors 52

Debt Recoveries

NOVEMBER 27, 2022

The client might not have the cash on hand to pay right away (this is a concern in the construction sector where milestone payments are typical or in the rural / farming sector where income is dependant on seasonal crop harvesting). . As a result, it is significantly safer than an unsecured creditor in the case of insolvency. .

Debt collector 52

Debt collector Unsecured Creditor Debt Recovery Retrieval 52