News

Small Business Bankruptcy

Small Business Bankruptcy Faster.  Easier.  There is a Small Business Reorganization Act that now streamlines existing rules for small businesses to restructure successfully under Chapter 11 of the Bankruptcy Code.  There are requirements for what qualifies as a small business, but generally, it can be a business corporation or limited...

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Homestead Exemptions in California Protect Your Home Part I

Homestead Exemptions in California Protect Your Home Part I A homestead exemption can protect a homeowner’s principal residence from creditors against loss in the case of bankruptcy, judgment or death of a spouse.  The California Constitution (Cal. Const. Art. XX, § 1.5 ) protects a homestead:  “[t]he Legislature shall protect,...

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Letters of Intent – Real Estate and Business Transactions

Letters of Intent – Real Estate and Business Transactions Epps & Coulson, LLP is and has been counsel for buyers and sellers of real estate, operating businesses and asset buy/sale transactions, both in normal conditions, as well as in bankruptcy and receivership conditions.  Regardless of the environment in which the...

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Bankruptcy Can Fix Tax Problems

Bankruptcy Can Fix Tax Problems While many taxes cannot be eliminated in a bankruptcy, personal income taxes, can potentially be discharged if the tax payor meets the following four (4) criteria: (1) The date the tax return was due to be filed is more than 3 years before the bankruptcy...

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Landlords, Tenants, Guaranties and Bankruptcy

Landlords, Tenants, Guaranties and Bankruptcy The new case of Lariat Company, Inc. v. Wigley (In re Wigley), 15 F.4th 1208 (8th Cir. 2021) shows exactly what a landlord should do in pursuing a guarantor (and his wife) when the tenant defaults and the guarantor tries shenanigans to try to avoid...

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New Federal Rule on “Surprise Medical Bills”

New Federal Rule on “Surprise Medical Bills” On July 1, 2021, the US Department of Health and Human Services (HHS,) Labor and Treasury and the office of Personnel Management, issued “Requirements related to Surprise Billing; Part 1,” an interim final rule restricting “Excessive” out of pocket cost to consumers. This...

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Bankruptcy:  New U.S. Supreme Court Case on Automatic Stay – Holding Property To Maintain Status Quo Does Not (Necessarily) Violate Automatic Stay

Bankruptcy:  New U.S. Supreme Court Case on Automatic Stay Holding Property To Maintain Status Quo Does Not (Necessarily) Violate Automatic Stay:  Bankruptcy courts in most jurisdictions have held over the years that merely keeping property of a debtor after the debtor filed a bankruptcy petition violated the automatic stay provisions...

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