GCK On Law
Derivative Standing & Prior Court Approval under Bankruptcy Code Section 1103(a)
In In re Perkins, 902 F.3d 1254, 1258 (7th Cir.2004), the Seventh Circuit set out three elements for derivative trustee standing to pursue a cause of action held by the bankruptcy estate: The trustee unjustifiably refuses a demand to pursue the action; The creditor...
Delinquent Taxpayers Face Potential Denial or Revocation of Passports
By law dated December 4, 2015, Congress authorized a procedure to allow the IRS to restrict passport rights for taxpayers with “seriously delinquent tax debts.” The persons affected include taxpayers who: (i) owe $50,000 or more in aggregated federal tax, penalties,...