Imagine this scenario: A judgment is won, the defendant filed for bankruptcy, but the judgment creditor missed the deadline to file a complaint objecting to the discharge of the debt. Normally, this means that the judgment will be discharged unless the court is convinced to accept a late-filed complaint.
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As a Certified Public Accountant (CPA) who began his career as an auditor, I thought at the time that I stepped into the world of financial forensics I was prepared to embark on a career as a financial fraud auditor and expert. After all, numbers are numbers; they don’t lie or misrepresent themselves. Or so I thought.
New York is home to many great things, such as Broadway, museums, fashion, and some of the nation’s tallest buildings.[2] Just like some of its highest buildings, New York is also home to some of the country’s highest rent prices.
With the continued expansion of international trade and the increase in cross-border transactions comes an increase in complex multi-jurisdictional disputes.
In a chapter 13 bankruptcy, a debtor in default under a residential lease may assume the lease but the debtor’s plan must provide a cure provision for the pre-peti
The majority of real property leases provide for prepayment of rent on the first of each month.[1] However, tenants filing for chapter 11 do not always pay on the day their rent is due and payable.
Although 11 U.S.C. § 365(a) allows for rejection of executory contracts, determining whether a contract is, in fact, executory can be challenging. As illustrated by a recent Second Circuit case, whether an oil and gas gathering agreement can be fully rejected as an executory contract depends on the state law governing the dispute and the relationship of the covenants to real property.
Bankruptcy professionals have become quite accustomed to the increasingly common phenomenon of a troubled company filing a chapter 11 case and either simultaneousl