GCK On Law
Judicial discretion in awarding Chapter 7 Trustee compensation under Sections 326 and 330
Section 330(a)(1) of the Bankruptcy Code governs compensation for various categories of bankruptcy court professionals, including Chapter 7 trustees. It states that, “subject to sections 326, 328, and 329, the court may award to a trustee * * * reasonable...
Courts split on protections for trademark licenses under Bankruptcy Code Section 365(n)
While Section 365(n) of the Bankruptcy Code applies to intellectual property licenses, the definition of “intellectual property” is not found within that section of the Bankruptcy Code; rather, the definition is found in Section 101(35A) of the Bankruptcy Code. ...
Avoid an Estimated Tax Penalty Through Withholding and Estimated Taxes
Many taxpayers needlessly pay the IRS thousands of dollars each year through the payment of estimated tax penalties. In fact, the IRS estimates that 10 million people paid estimate tax penalties in 2015. Estimated tax penalties are assessed when a taxpayer is...
Treatment of Citation Liens by Automatic Stay Sections 362(a)(1) & (3)
Pursuant to Section 362(a)(1) of the Bankruptcy Code, the filing of a bankruptcy petition creates an automatic stay against “the commencement or continuation ... of a judicial, administrative, or other action or proceeding against the debtor that was or could have...
Calculation of Discount Rate Interest on Present Day Value for 1129(b)(2)(A)(i)(II)
The Bankruptcy Code provides that a debtor may confirm a plan over the objection of a class of creditors (i.e. cramdown) subject to, among other requirements, that the plan provides “fair and equitable” treatment of secured claims. Pursuant to Section 1129(b)(2)(A)...