Congress provided a streamlined mechanism for small businesses to reorganize when it enacted the Small Business Reorganization Act of 2019 and added Subchapter V to Chapter 11 of the Bankruptcy Code. Subchapter V gives small...more
When Mitchell Green ("Green"), former Director of Brand Management for Curtis "50 Cent" Jackson's Sire Spirits, LLC ("Sire Spirits"), orchestrated a $2.2 million embezzlement scheme, it didn’t happen overnight. From June 2017...more
Background - The case arose from a longstanding family arrangement involving reciprocal wills and a “Post Marital Agreement” between Morton Poindexter and his longtime partner, Peggy Martin. Their Agreement provided that,...more
We have written in the past about exceptions to the general rule regarding a debtor’s ability to discharge debt in bankruptcy and achieve a “fresh start.” In a recent decision of interest, the Court of Appeals for the Fourth...more
The Bankruptcy Code generally allows a debtor to wipe out all pre-bankruptcy debts and get a fresh start in life. But not all debts are equal. Some debts can't be discharged, meaning they survive bankruptcy, and the...more
Debtors facing regulatory fines and penalties want to shed them in bankruptcy and emerge without paying them. With certain exceptions, the Bankruptcy Code provides for the discharge of most debts that arise before a plan is...more
Bass, Berry & Sims attorney Chris Lazarini discussed a case in which the defendant – who had pleaded guilty in a criminal case to one count of fraud under the Commodity Exchange Act (CEA) and one count of money laundering,...more
On May 12, 2016, the Honorable Julie A. Manning issued a decision in an adversary proceeding entitled Law Office of W. Martyn Philpot, Jr., LLC v. Day, which addressed two issues. The first issue was whether the plaintiff was...more