What happens if a client who kept insurance funds proceeds later files for bankruptcy? Will a bankruptcy court allow the debtor to keep monies intended for you? According to a recent New York court case, the answer is no. The bankruptcy court refused to grant a discharge to a debtor
Strapped for cash, MyPillow CEO Mike Lindell took at least two merchant cash advances. Because Lindell’s companies defaulted on payments, suits were filed in New York alleging MyPillow-related entities and Mike Lindell as a personal guarantor defaulted on the loans. Sometimes businesses that do not qualify for traditional loans look
Some assets owned by a judgment debtor may be subject to seizure by a judgment creditor. If unsecured, the assets (e.g., bank accounts, brokerage accounts) can be transferred or sold to benefit the creditor. There are other assets that require a court order to transfer assets or the debtor’s interest
Looking to domesticate a judgment based on an out-of-state arbitration award in New York? The process will differ depending on whether the debtor appeared during the confirmation process. New York differentiates judgments obtained by default from those obtained on the merits. If your judgment debtor participated in the underlying arbitration
If you owe money, is your spouse liable for your debt? Being married does not, in itself, mean you are liable for your spouse’s debts. There may be spousal liability, however, if the doctrine of necessaries applies and creates enforceable financial liability. The general rule is that, absent an agreement, a
What happens to balances owed when your non-paying customer dies during the debt collection process? How do you enforce your right to get paid? The answer depends on whether your non-paying customer was an individual, sole proprietor, or closely held business, compared to an officer of a corporation with more
Properly naming a non-paying client is of the utmost importance in New York debt collection. Failing to properly name the defendant can jeopardize your entire case. Here’s why it’s so important to properly name your non-paying customer — and how to do so. Assume your company had an agreement with
The Harpur Law Council of Binghamton University invites you to attend a panel discussion on Women in the Law followed by a networking reception. Hear from an outstanding panel of female attorneys from different practice areas and backgrounds about their work, career path and experiences as women working in the legal
For those in industries filled with chronically late payors, it can be difficult to know when the right time to send a client to collections is. You may worry that by placing your customer in collections, you will lose the “relationship.” But if a client doesn’t pay you and uses
Let’s say your company executed a promissory note with a client company that borrowed $100,000. The parties execute a valid promissory note on October 24, 2024, that indicates the amount borrowed and the date of repayment, October 15, 2025. Then around the date the note becomes due, the client states