GCK On Law
Split on Jurisdictional Power of Bankruptcy Court to Issue Money Judgment in Dischargeability Actions
The question of whether a bankruptcy court has jurisdiction to enter money judgments on non-dischargeable debts has resulted in divergent opinions. These divergent opinions can be categorized as either the “expansive approach” or the “limited jurisdiction approach.”...
Recent Developments in FBAR Litigation
FBAR penalty litigation has frequently been in the news recently, suggesting that the IRS is either (i) increasing its efforts to collect and assess FBAR penalties more than ever before, or (ii) seeking successful outcomes from “test cases” before beginning a new wave...
IRS Provides New Relief Program for Expatriates Renouncing U.S. Citizenship
On September 6, 2019, the IRS published the new “Relief Procedures for Certain Former Citizens” who wish to come into compliance with their U.S. income tax and reporting obligations without being taxed as a “covered expatriate” under section 877A of the U.S. Internal...
Pleading Conversion of Money
Conversion is an unauthorized act which deprives a person of his property permanently or for an indefinite time. In re Thebus, 108 Ill.2d 255, 259 (1985). Accordingly, to prove conversion, the plaintiff must prove the following elements by preponderance of the...
Can a Chapter 7 Trustee seek damages for violations of the Automatic Stay?
Section 362(k) of the Bankruptcy Code allows the award of damages for a stay violation only to “an individual injured by any willful violation of a stay.” This singular reference to “individuals” has given rise to a split among the courts with respect to whether...