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Related Articles from Bankruptcy and Debt Attorney

Sale of land references: what has family law got to do with it

One of the more common matters heard by a district registrar is a reference made pursuant to s. 94 of the Court Order Enforcement Act, R.S.B.C. 1996, c. 78 (the "Act"), which provides: (1) If an order is made on an application under section 92, there must be included in the order a reference to a district registrar of the Supreme Court (a) to find what Lind is liable to be sold under the judgment, (b) to find what is the interest of the judgment debtor in the land and of his or her title to it, (c) to find

Executives may lose suits, but not all is lost for them

Targeted in dozens of lawsuits, former Enron Corp. executives face possible multimillion-dollar judgments that could far exceed their net worth. But hold the tears. Even if they lose big on every front, the execs get to keep their mansions, luxury cars, retirement income, any salary they earn and lots of other stuff. Dating to its 1876 Constitution, Texas has provided unique protection for debtors, especially rich ones. The law has been left virtually untouched, which explains why the list of valuables debtors can keep includes a couple of donkeys and two firearms. The idea is to allow those who made

Enron Executives May Lose Lawsuits, but Texas Law Helps Protect Assets

What do I do with my judgment now

Effective October 1, 2001, the way money judgments are enforced in Florida is undergoing a sweeping revision, affecting everything from the manner of perfecting a lien on personal property to the duration of judgment liens and priorities among judgment creditors. (1) The changes apply to all stages of the judgment collection process, from entry to expiration, and affect existing judgments and judgment liens as well. Despite the significant changes which the new system will cause to debtor-creditor law, transactional practice, and the perfection of judgment liens on personal property, it has received surprisingly little publicity. It is the intent of

Where Did the Money Go

You win a big judgement, but the defendant has tucked his assets into an offshore account. Collecting will be a challenge. The accusations in the rape trial were sordid, even by Los Angeles standards. A woman we will call "Ms. X" said she met John Gordon Jones, an office supplies entrepreneur, at a nightclub in Hollywood. Ms. X, then 25, said that Jones laced her drink with a date-rape drug, then took her back in his limo to his home north of Beverly Hills. She awoke to find herself being sexually attacked, first by another woman and then by Jones. In

When Bankruptcy Meets Divorce

Just over two years ago, President George W. Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005, which became effective Oct. 17, 2005. If you are getting divorced, this new bankruptcy law could concern you. Reason: While you may not realize it, in this country, our high divorce rate and bankruptcy commonly intersect. Here’s how. Until the enactment of the BAPCPA, the bankruptcy process was seen by some, and used by many, as a tool to permanently evade (or, to use bankruptcy terminology, “discharge”) family obligations foisted upon them by agreement or court order after a

Pre-Judgment Asset Freezes

As any experienced litigator knows, obtaining a large judgment against a defendant is only one step along the path toward actually recovering damages in a lawsuit. If that defendant has had the foresight to engage in timely, effective asset protection planning, then the path to ultimate recovery can be a long and rocky one. Many asset protection strategies involve the use of one or more offshore jurisdictions. Encountering asset protection strategies with offshore components can be particularly frustrating for creditors who have already invested substantial time and money to obtain a judgment. Certain offshore jurisdictions, especially those known as offshore

Debt collection 101 for small businesses.(RESOURCES * banking & finance)

Finding ways to ensure prompt payment is an age-old issue for businesses. From the earliest records, there has always been the tax collector and the debtor, so know that if you have clients in arrears, you are most assuredly not alone. By outlining the steps you can take to bring past due accounts current and even keep them as your clients during and after the collection process, you'll be better prepared to handle the situation should it arise. A word of warning before you make any attempts to collect on a debt: make sure you understand and...

Creditors of Portland, Ore.-Based Lodging Chain File Claim for Payment

Secured creditors in the Shilo Inns bankruptcy case want to collect more than $204 million in debt and unpaid fees from the Portland lodging chain's founder, Mark Hemstreet. In March, trusts representing several national banks filed lawsuits in state court against Hemstreet seeking debt repayment, but they revoked the claims when most of the Source : accessmylibrary.com

Advice of Investment Bank relied upon in the absence of contract

A judgment handed down on 13 June 2006 shows that investment banks may incur liability for negligent misstatement in respect of parties with whom they have no contractual relationship, even though they have a direct contractual relationship with another party....