Using the Internal Revenue Service (IRS) as the “triggering creditor” under § 544(b) of the Bankruptcy Code provides a powerful tool for bankruptcy trustees to reach back for periods of 10 or more years in the pursuit of fraudulent conveyances that are otherwise outside the applicable state law statutes of limitation.
A debtor in a bankruptcy case is fighting back against an unusual maneuver that would allow trustees to boost their clawback authority in cases that involve unpaid federal taxes.
Glenn Beck’s media outlet TheBlaze.com told the Delaware Chancery Court on Monday that it should halt proceedings in a suit its former CEO brought against the company — seeking an order that it foot the defense bill for a related Texas suit accusing him of mismanaging Beck’s production company — characterizing it as “forum shopping.”
A Chapter 7 trustee can “step into the shoes” of the Internal Revenue Service and pursue actions that are time-barred under state law, but ones that the IRS could have pursued under its 10-year period allowed for collection activities, a bankruptcy court in Florida held Aug. 31
The former CEO of Glenn Beck’s news outlet TheBlaze Inc. on Wednesday asked a Delaware court to order the company to foot the bill for a suit accusing him of mismanaging Beck’s production company, just days after TheBlaze asked a Texas state court to do the opposite.
Litigation over the doomed Fashion Mall project in Plantation shows no signs of slowing, and a real estate developer is now facing allegations of fraud, self-dealing and usurpation of corporate opportunities.
The 2016 Chambers USA Guide includes four Florida attorneys from law firm Meland Russin & Budwick and also ranks the firm’s Bankruptcy and Restructuring Practice.
Miami attorneys from Meland Russin & Budwick helped craft a more than $160 million liquidation plan to repay victims of one of the largest Ponzi schemes in history.
In July 2014, the Uniform Fraudulent Transfer Act (UFTA)1 was amended and renamed the Uniform Voidable Transactions Act (UVTA).
The Doral Court office building has been scheduled for foreclosure auction on Sept. 1, but several potential buyers are competing to purchase the property before then.