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
Check Kiting constitutes a type of bank fraud very popular before the early 2000’s. A federal regulated called Check 21 prevented most check kiting schemes since its passed in 2004. Even though not as common as it used to be, check kiting is still present in many fraudulent transactions. Here we explain to you everything there […]
Agriculture Bankruptcy & Marshalling of Assets
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
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 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 […]
