While bankruptcy proceedings generally allow individuals an opportunity to discharge many different liabilities, there are some classes of liabilities—such as those involving fraud—that are not dischargeable in bankruptcy. The Bankruptcy Code (“Code”) prohibits the discharge of “any debt . . . for money, property, [or] services . . . to the extent obtained by . . . false pretenses, a false representation, […]
One of the biggest legal mysteries for non-lawyers, even for experienced and sophisticated businesspeople, is the process of arbitration. The term gets used a lot, but few actually know what the process entails, and most people are usually apprehensive about going through an arbitration in a way they aren’t with […]
Congratulations! The court has ruled in your favor and awarded a favorable judgment. However, there is no contact with the defendant and it’s not clear what assets are in play. Therefore, you need an effective plan on how to aggressively collect the judgement due–but without violating federal or state laws […]
What happens when a debtor is granted an automatic stay in bankruptcy court? Essentially, it halts creditors and potential creditors from trying to collect pre-bankruptcy debts. However, there are exceptions which may be relevant to your case. This video presentation explains the automatic stay as set forth in the U.S. […]
A Florida business break-up can be messy. However, it doesn’t have to be that way. Instead, owners of a business who plan ahead with consideration of potential future challenges can help ensure an amicable break-up, free of drama or difficulty. And by having an experienced contract law attorney in your […]
A collateral lien may exclude some categories of collateral. This is of particular concern if a piece of property changes from one category to another. In this video presentation, Charles B. Jimerson and two additional attorneys provide a thorough explanation of purchase money security interest (also known as PMSI). Additionally, the speakers […]
Sometimes a creditor is bold enough to place a debtor into involuntary bankruptcy in an attempt to recover an outstanding debt. In general, most petitions are accepted as a proper filing. However, on the off chance that the creditor does not prevail in the contested involuntary action, and fees are […]
There are two primary types of fraudulent transfers contemplated under Florida’s Uniform Fraudulent Transfer Act (“FUFTA”)—actual fraudulent transfers and constructive fraudulent transfers. When a debtor makes a transfer with “actual intent to hinder, delay or defraud” a creditor—that is, “actual fraud” under Fla. Stat. 726.105(1)(a)—insolvency of the debtor is largely irrelevant.
In Florida, fraudulent transfers fall under the Florida’s Uniform Fraudulent Transfer Act (“FUFTA”). The Florida statutes comprise the FUFTA, and the statutes lay out the elements needed to assert a FUFTA claim, as well the types of remedies that will be afforded when bringing a FUFTA claim.
Involuntary bankruptcy is a legal proceeding creditors may use to force a debtor into bankruptcy, rather than a debtor voluntarily seeking bankruptcy protection on his or her own behalf. Creditors seeking involuntary bankruptcy must file a petition in the bankruptcy court, and the debtor has the opportunity to defend against […]