March 17, 2014 - Red Bank - Giordano, Halleran & Ciesla’s Creditors’ Rights & Bankruptcy Practice Group, is proud to announce the launching of its bankruptcy blog, Bankruptcy Blog NJ. The blog is dedicated to discussing insolvency related issues including bankruptcies, foreclosures, receiverships, workouts, and collection matters.
Our attorneys in the Creditors' Rights & Bankruptcy Department are experienced in dealing with all aspects of financial disputes both in and out of court. As a result, we assist creditors and debtors in matters from the earliest stages of economic decline through bankruptcy and reorganization. Our practice areas range from sophisticated out of court workouts and complex litigation to routine collections. Attorneys in this practice area work closely with other attorneys in the firm when matters arise involving corporate, tax, labor, matrimonial, intellectual property, banking, community association, healthcare, real estate development, commercial litigation and environmental issues.
Recent updates to the blog include the following:
Sbarro Seeks Bankruptcy Protection The New York based pizza chain, Sbarro LLC, has filed for bankruptcy protection for the second time in less than three years. Sbarro first filed for bankruptcy in April 2011 and emerged from Chapter 11 the following November. How will this impact you? Read More.
Third Circuit Rules Successor Liability Claims Are “Generalized Claims,”and Therefore, Property of Bankruptcy Estate – Not Individual Creditors Bankruptcy creditors who are contemplating the filing of a claim against non-debtor third parties will want to consider the Third Circuit’s decision in In re Emoral, Inc., — F.3d —, (3d Cir 2014). The Third Circuit recently determined that personal injury causes of action asserted against a third-party non-debtor corporation on a “mere-continuation” theory of successor liability are properly characterized as “generalized claims” constituting property of a bankruptcy estate and, therefore, can only be asserted by the bankruptcy trustee.Read More.
Business Owner Personally Liable To Company Creditor: Paid Himself Before Satisfying Creditor’s Judgment Business owners of insolvent companies should be careful about who gets paid and, more importantly, who does not. The New Jersey Appellate Division recently upheld a $78,333.91 fraudulent transfer judgment against the owner of a construction company after the owner ignored a bankruptcy trustee’s judgment against his company and then used company funds to pay various personal expenses before shutting the business down.Read More.
Giordano, Halleran & Ciesla, P.C. is a multi-specialty law firm dedicated to providing sophisticated, complex legal services and solutions. The attorneys maintain personal relationships and gather in-depth knowledge of clients’ businesses and industries to construct both sound legal advice and effective strategies to resolve business issues. With a focus on responsiveness and producing results with outstanding value to their clients’ bottom line, the firm provides experienced legal representation in a wide variety of practice areas, including: Corporate and Business; Creditors’ Rights and Bankruptcy; Environmental; Healthcare; Intellectual Property and Technology; Labor and Employment; Litigation; Real Estate, Land Use and Development; and Trusts and Estates. For more information, visit us at www.ghclaw.com.
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|Tags: Creditors' Rights & Bankruptcy|
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