When to Hire a Contract Lawyer?

What is a contract attorney? A contract lawyer is a lawyer who specializes in providing assistance with business contracts. A contract lawyer can help you negotiate and draft contracts, review existing contracts, and advise you on legal issues related to your contract. What is a contract? Legal contracts are binding agreement between two or more […]

How To Stop Check Kiting Scams

How to stop check kiting scams

Check kiting is one of the many ways your financial securities can be violated.   It constitutes a type of bank fraud very popular in the early 2000’s, that was in its majority shut down by a regulation called check 21 act.  Even though not as common as it used to be, check kiting is […]

Agriculture Bankruptcy & Marshalling of Assets

Marshaling

General marshaling principles. The equitable doctrine of marshaling rests upon the principle that a creditor having two funds to satisfy his debt should not be permitted to arbitrarily prejudice a junior creditor who may resort to only one of the funds. Meyer v. U.S., 375 U.S. 233, 236, 84 S.Ct. 318, 11 L.Ed.2d 293 (1963).  Bankruptcy and […]

Justifiable or Reasonable Reliance Under Section 523 of the Bankruptcy Code

justifiable reliance 523 code

Was your reliance justifiable  or reasonable when lending money to a dishonest debtor that. later ends up in bankruptcy. Collateral Base Attorney Tom Howard recently helped our client win a $1.8 million dollar verdict in a bankruptcy case out of the Central District of Illinois. The case, liura v. Brady (In re Brady), concerned several […]

Filing Financing Statements and Determining Priority

Determining Priority of Perfected Security Interests

Determining Priority in Perfected Security Interests Who’s on first? This question decides what creditor gets paid, and what becomes an unsecured creditor whose best option is to recover pennies on the dollar for the money loaned to a business that purportedly had collateral. Priority to collateral needs determination to see who can seize it in […]