SCOTUS Expands Definition of “Actual Fraud”

By Hon. Michael B. Kaplan, United States Bankruptcy Judge, U.S. Bankruptcy Court, District of New Jersey (Trenton)

The Supreme Court of the United States recently issued its opinion in Husky International Electronics v. Ritz, 2016 WL 2842452, putting forth an expanded definition of “actual fraud” to include fraudulent conveyance schemes in the bankruptcy context. The controversy began when the Chrysalis Manufacturing Corp. incurred a debt to Husky International Electronics of approximately $164,000 and rather than paying that debt, Daniel Lee Ritz, the director of Chrysalis, transferred the corporation’s available assets to other entities . . .

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Fond Farewell to Danny O’Brien

The Academy

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Dear Danny, We know that you would not want a tribute – it’s simply not who you are. But we couldn’t let this moment pass without acknowledging how admired and respected you are. We will all miss you and are better for having known you. You are a stellar example of what all humanity should strive to be. As a...

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Although this article was originally published in 2009, Judge Morgenstern-Clarren took a fresh look just this week. It is just as relevant today as the day she first wrote it

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Members of the Armed Forces Are Entitled to Certain Tax Benefits

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Pamela Simmons-Beasley, Dennis LeVine, Esq., Michael J. Watton, Esq.

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Chapter 13 in the Bankruptcy Code (1978 as amended) marks the first time that virtually all secured debts can be somewhat altered in a bankruptcy without getting the specific agreement of security holders. Real benefit is provided to the debtors who have personal property with secured loans due. Concepts including the automatic stay preventing enforcement or perfection of a security...

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(Used with expressed permission from the MI Bankruptcy Journal and the Steven W. Rhodes Consumer Bankruptcy Conference) I. Introduction Although the Bankruptcy Code has been around for decades, bankruptcy courts continue to be faced with significant disputes regarding the interpretation of its provisions. An emerging issue that has gained traction in recent years involves the compensation of a chapter 13...

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The Gambling Debtor – What is a Chapter 13 Trustee to Do?

Stacey A. O’Stafy

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By John P. Gustafson, United States Bankruptcy Judge, Northern District of Ohio, Western Division Click here for Part 1 Click here for Part 2

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George Stevenson

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My life in 1982 was in a bit of turmoil. I had recently gotten married and was working as in-house counsel for a regional furniture retailer. My position included a lot of collection work – beating up on debtors in state and bankruptcy courts. I was not unhappy but I was not comfortable with my work – it was clear...