Manipulation of “center of main interest” to secure UK bankruptcy venue does not bar chapter 15 recognition so long as creditors are not disadvantaged. On February 24, 2025, U.S. Bankruptcy Judge Michael E. Wiles granted...more
This is the second in our series of alerts on taxable cancellation of debt income.
When debt is cancelled or discharged, the debt generally becomes taxable income, called cancellation of debt income....more