Bankruptcy Law News and Insights

Can I Hold A Debtor’s Bank Account Hostage?

Published: Nov 12, 2021
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For creditors dealing with debtors in the shadow of bankruptcy, a common scenario repeats itself.  The creditor repossesses collateral, attaches an account, or sets off a bank account, and then the debtor files a bankruptcy petition. What must the bank or attaching creditor do? Filing a bankruptcy petition automatically halts...

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Federal Court Ruling May Signal A Changing Landscape For Withdrawal Liability

Published: Nov 03, 2021
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An important decision by the United States Court of Appeals for the Sixth Circuit may significantly impact withdrawal liability assessments.  In Sofco Erectors, Inc. v. Trustees of the Ohio Operating Engineers Pension Fund,1 the Court held that the pension fund could not utilize the "Segal Blend" interest rate to calculate the employer's...

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Preference Claims, Clawbacks In Bankruptcy Can Disrupt A Construction Project

Published: Oct 27, 2021
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Highlights A bankruptcy filing by a single construction project participant can cause a chain reaction in which payments aren't met, leading to financial distress, impacts to project payment systems and completion schedules, and/or bankruptcy for other participants. In addition, the bankruptcy trustee administering the case has the ability to claw...

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