GCK On Law
Disagreement as to partial dispute giving rise to a bona fide dispute for purposes of Section 303(b)(1)
Section 303(b)(1) of the Bankruptcy Code provides, in relevant part, that “[a]n involuntary case against a person is commenced by the filing with the bankruptcy court of a petition under chapter 7 or 11 of this title – (1) by three or more entities, each of which is *...
Diverging Opinions Upon Prior Course of Dealing Under Section 547(c)(2)(A)
Section 547(c)(2)(B) of the Bankruptcy Code was the former subjective component of the three-pronged test set forth in §547(c)(2) of the Bankruptcy Code, and involves the question of whether the transfer was “made in the ordinary course of business or financial...
Automatic Dismissal of a Bankruptcy Proceeding under Section 521(i)(1)
BAPCPA imposed a host of new requirements on debtors, including expanded duties of financial disclosure. Under Bankruptcy Code Section 521(a)(1), a debtor is now required to file a list of creditors and “unless the Court orders otherwise,” various other detailed...
Virtual Currency: U.S. Laws and Enforcement Trends
Virtual currencies such as Bitcoin and Ethereum turned 10 years old in 2018. As virtual currencies become more mainstream, governments around the globe have brainstormed ways to regulate and tax virtual currencies. Fluctuations in prices, difficulties using or...
Unscheduled Claims may be Nondischargeable in No Asset Cases
Section 523(a)(3) of the Bankruptcy Code states in relevant part as follows: (a) A discharge under [chapter 7] * * * does not discharge an individual debtor from any debt - * * * * (3) listed nor scheduled * * * in time to permit - (A) if such debt is not of a kind...