by Matthew Gensburg | Mar 6, 2018 | GCK on Law
Under the Bankruptcy Code, non-residential real estate gets special treatment. Pursuant to Sections 362(b)(10), 365(c)(3), 365(d)(4)(A) and 541(b)(2) of the Bankruptcy Code, if real estate is deemed “nonresidential” in nature, a lease of such property terminated...
by Matthew Gensburg | Feb 5, 2018 | GCK on Law
“[A]n explanation by a bankrupt that he had acted upon advice of counsel who in turn was fully aware of all the relevant facts generally rebuts an inference of fraud.” In re Zizza, 875 B.R. 728, 732 (1st Cir.2017) (quoting In re Mascolo, 505 F.2d 274, 277 (1st Cir....
by Matthew Gensburg | Jan 29, 2018 | GCK on Law
Section 548(a)(1)(B) authorizes a trustee to avoid a transfer of an interest in property of the debtor under a theory of constructive fraud. That section provides: The trustee may avoid any transfer . . . of an interest of the debtor in property, or any obligation ....
by Matthew Gensburg | Jan 22, 2018 | GCK on Law
The purpose of a stay pending appeal is to mitigate the damage that can be done before the matter is substantively resolved. Thus, in In re Heotis, 2017 WL 4310513 at *2 (N.D.Ill.), the court stated that motions to stay pending appeal are similar to preliminary...
by Matthew Gensburg | Jan 15, 2018 | GCK on Law
Pursuant to Section 550(a) of the Bankruptcy Code, once a trustee has successfully avoided a fraudulent transfer, he may recover the fraudulently transferred assets from either the initial transferee or “any immediate or mediate transferee” of the initial transferee. ...
