DEBT RESTRUCTURING WITH NEW COLLATERAL FRAUDULENT TRANSFER?

Attorney Mike King, Gammage & Burnham

HOW CAN A DEBT RESTRUCTURING WITH NEW COLLATERAL POSSIBLY BE A FRAUDULENT TRANSFER?  ANSWER:            LIENS MAY BE SET ASIDE AND DEBT PAYMENTS DISGORGED IF THE PARTIES PLEDGING THE ADDITIONAL COLLATERAL DID NOT RECEIVE VALUE REASONABLY EQUIVALENT TO THE OBLIGATIONS INCURRED. You would think that curing a $2 billion loan default, restructuring loans and preventing further […]

Former NFL Star, Jim McMahon named in FDIC Lawsuit – Board Member Liability – Asset Protection

THE DANGER OF

The FDIC brought a lawsuit against Illinois Broadway Bank and former NFL player Jim McMahon is one of the seven former board members for the bank.   The FDIC is suing to recover $104 million from 17 bad loans that the bank made before it shut down in 2010. We warn all clients about Board […]

BUSINESS SURVIVAL PLAN 2010

ASSET PROTECTION UPDATERECESSION BUSINESS SURVIVAL PLAN© Ike Z. Devji, J.D. Another version of this went to my clients in December of 2007. I hope your advisors shared similar insights with you. As 2009 draws to a close we look back at the lessons learned and forward to new opportunities. Below are some critical points we […]

Understanding the Arizona Anti-Deficiency Statutes and What they Mean to YOU

Understanding the Arizona Anti-Deficiency Statutes and What they Mean to YOU We have many questions and conflicting interpretations of the Arizona Anti-Deficiency statutes and what they really mean and do. For clarification I turned to Attorney Neal Bookspan who is a partner at Phoenix law firm Jaburg & Wilk and who handles a variety of […]