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The Bankruptcy Code: The Automatic Stay – How it Impacts Debtors, Creditors and Trustees

August 7, 2018 Banking & Financial Services Industry Legal Blog, Presentations, Videos

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. […]

Florida Business Break-up 101: Issues, Mechanisms, Planning, Forcing, Defending and Valuation

August 7, 2018 Banking & Financial Services Industry Legal Blog, Presentations, Professional Services Industry Legal Blog, Videos

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 […]

How to Understand Purchase Money Security Interest or PMSI and Other Categories of Collateral That are Excluded From a Collateral Lien

August 7, 2018 Banking & Financial Services Industry Legal Blog, Presentations, Videos

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 […]

Are Attorney’s Fees Awarded for Dismissed Involuntary Bankruptcy Petitions Subject to Being set off by the Underlying Judgment?

September 27, 2017 Professional Services Industry Legal Blog

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 […]

Proving Insolvency in Fraudulent Transfer Actions

September 25, 2017 Banking & Financial Services Industry Legal Blog

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.

Defending Involuntary Bankruptcies Part II: Defenses, Strategies and Remedies

March 2, 2017 Banking & Financial Services Industry Legal Blog

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 […]

Choose Your own Adventure: Are Florida State Law Claims for the Wrongful Filing of Involuntary Bankruptcy Preempted by 11 U.S.C. Statute 303(i)?

February 8, 2017 Banking & Financial Services Industry Legal Blog

The filing of an involuntary bankruptcy is a serious matter, and creditors rarely resort to this drastic measure when attempting to collect on a debt. The prospect of creditor liability for costs, attorney’s fees, damages, and possibly punitive damages makes involuntary petitions a risky endeavor. Involuntary bankruptcy is most often […]

Assignment for the Benefit of Creditors: Stay of Litigation

July 22, 2016 Banking & Financial Services Industry Legal Blog

This is the first of three follow up blogs to our earlier publication Assignment for the Benefit of Creditors: General Overview. This blog explores ABC’s lack of statutory automatic stay and whether there is a functional and practical equivalent. The next blog will discuss whether a creditor may file a claim after the statutory 120-day deadline. The third blog will examine whether a creditor may file a claim of fraudulent transfer against the estate.

Vendor’s Checklist When a Customer Files for Bankruptcy

June 1, 2016 Banking & Financial Services Industry Legal Blog

Many vendors have had the unfortunate experience of a customer filing for bankruptcy. If it hasn’t happened to you yet, it probably will at some point in the future. There are certain steps a vendor should (or must) take to protect itself and maximize its opportunity to collect any debts owed by the customer. Vendors that take advantage of these protections can maximize recoveries, better preserve their positions in their dealings with the debtor, and avoid pitfalls inherent in the bankruptcy process. Vendors, and their attorneys, should use this checklist and take immediate action when a customer files for bankruptcy.

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Charles B. Jimerson
Managing Partner

Jimerson Birr welcomes inquiries from the media and do our best to respond to deadlines. If you are interested in speaking to a Jimerson Birr lawyer or want general information about the firm, our practice areas, lawyers, publications, or events, please contact us via email or telephone for assistance at (904) 389-0050.

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