Debts for a Partner’s Fraud Are Confirmed to be a Nondischargeable Debt According to the Supreme Court’s Opinion
In a unanimous opinion by the Supreme Court, the Court held an innocent partner liable for the fraud of another partner. Should the innocent party declare bankruptcy, the bankruptcy code would bar a discharge of the debt because it was obtained by false pretenses, a false representation or actual fraud. In Bartenwerfer v. Buckley, prior […]
Hollister Construction Services, LLC Files for Bankruptcy
Co-Authored by Justin S. Baumgartner On September 11, 2019, Hollister Construction Services, LLC filed for Chapter 11 bankruptcy protection in the District of NJ, Trenton Vicinage. The Parsippany-based construction company deals in general construction work, including ground-up construction services, interior and exterior renovations, and building additions. When a developer such as Hollister files for bankruptcy […]
THE (NOT SO) SAFE HARBOR DEFENSE
Dealing with a financially distressed customer? Considering how to avoid a fraudulent transfer a claw-back in the customer were to seek bankruptcy protection? Some creditors have attempted to shield themselves from such actions by conducting the transfers through a financial institution. Well, not so fast. In the case of FTI Consulting, Inc. v. Merit Mgmt. […]
Fuhu Files for Chapter 11 Just Ahead of this Year’s Holiday Season
Fuhu Inc., named the most promising company in America in 2014 by Forbes Magazine, filed for Chapter 11 bankruptcy in Delaware last wwek. The producer of the nabi tablet, an educational technology product created for children, prepared for a $9.5 million asset acquisition by Mattel, Inc. Before the judge approves Mattel’s proposal, other companies may […]
GH&C Successfully Represents New Jersey Accounting Firm Before The Third Circuit And Obtains Dismissal Of Case With Prejudice Based On Plaintiff’s Failure To File An Affidavit of Merit
Giordano, Halleran & Ciesla, on behalf of its client, a New Jersey accounting firm, was recently successful in obtaining the affirmance of the dismissal of a complex professional malpractice action from the United States Court of Appeals for the Third Circuit. The litigation stemmed from a lender’s issuance of a $10 million loan to a […]
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