Remove Creditors Remove Judgment Remove Manufacturing
article thumbnail

New Court Ruling on Whether Avoidance Powers Require Benefit to Creditors

PBWT

Is there a general requirement that these avoidance powers only be used when doing so would benefit creditors? Glove, Inc. (“Plaintiff”) is a manufacturer of gymnastic grips and wrist supports. Plaintiff moved for summary judgment on this issue in April 2021. See, e.g., 11 U.S.C. §§ Glove, Inc. ,

article thumbnail

Bankruptcy Court Won’t Dabble in Case Concerning a Marijuana Business

PBWT

Like many other retail businesses, those dispensaries needed suppliers, who in turn needed manufacturers, who themselves needed to procure equipment. Rosinbomb manufactures and sells “organic extraction presses utilizing a combination of heat and pressure to generate organic concentrates.”

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Supreme Court Expands Creditors’ by Allowing Denial of a Discharge Under Sec. 523(a)(2)(A) if Debtor Transfers Assets in Violation of State Fraudulent Transfer Statute

The Creditors Rights

Section 523(a)(2)(A) of the Bankruptcy Code allows a creditor to obtain a judgment denying its debtor a discharge of debts incurred by false pretenses or actual fraud. Chrysalis Manufacturing Corp. The Court further noted that fraudulent conveyances at common law did not require a misrepresentation by a debtor to his creditor.

article thumbnail

Debt Collection Settlements: Can Parties Include Terms for Future Deals

FFGN COLLECT NY

An issue that comes up time and time again in debt collection settlements is whether parties can continue doing business together even though the creditor has placed the account for collection. Take the specialty chemical manufacturing client and their nonpaying client. It happens more often than you would think. Yes, definitely.

article thumbnail

Burr & Forman Names Eight New Partners Across Five Offices

Burr Forman

Meryl Cowan is a member of the firm’s Labor & Employment group where she represents employers, manufacturers, and companies in all aspects of general employment, labor, and employment discrimination law.

article thumbnail

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

On September 19, the CFPB issued guidance regarding the legal requirements that creditors must follow when using AI and complex models. or more percentage points for a first-lien covered transaction secured by a manufactured home with a loan amount less than $130,461; 3.5 For more information, click here. On September 19, the U.S.