A transfer from an LLC account—even a single-member LLC—is not an interest of the debtor in property under section 544(b). Key takeaways from In re Samy for trustees and LLC members.
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Pre-petition payments under a later-assumed contract cannot be avoided as preferences. A new Iowa decision shows how this defense can defeat a trustee’s claim on a motion to dismiss.
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When a general partner files bankruptcy, its non-debtor partners often assume that state law or the partnership agreement removes the general partner automatically and immediately. Partnership statutes call this removal event “dissociation,R…
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When a debtor’s business is sold or refinanced one of the first questions is “who is on the other side of the deal”? The answer is frequently associated with the Debtor, with significant consequences for the scrutiny applied to the deal.
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Small businesses often turn to merchant cash advance (MCA) funding because of the ease with which such transactions can close. Oftentimes, the MCA funder does not engage in traditional due diligence typically undertaken by banks, allowing financing t…
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