SulmeyerKupetz Proudly Supports California Bankruptcy Forum Conference and International Women’s Insolvency & Restructuring Confederation
SulmeyerKupetz is proud to continue its sponsorship...
SulmeyerKupetz is proud to continue its sponsorship of the California Bankruptcy Forum’s Insolvency Conference, as well as the International Women’s Insolvency & Restructuring Confederation (IWIRC).
The California Bankruptcy Forum is an organization dedicated to providing educational support, a structure for communication between the bench and bar and networking between the members, thereby providing better service to the public. This year’s Insolvency Conference will be held from May 19-21 at the Loews Coronado Bay Resort in San Diego, CA.
IWIRC is a professional association committed to the connection, promotion and success of women in insolvency and restructuring professions worldwide. The organization supports relationship-building and provides resources at the global and local network levels. SulmeyerKupetz Attorney Jessica L. Vogel currently serves as Secretary for IWIRC.
Are you or your client thinking about purchasing assets out of bankruptcy? You may have heard that bankruptcy estate assets can sometimes be purchased for a bargain price, but are you aware of the overall process and the potential risks associated with acquiring an estate asset?
“Purchasing Bankruptcy Assets: Benefits and Risks” will be held on Tuesday, June 27, at 11:00 a.m. Register now!
Member David M. Goodrich presents “Enforcements of Judgements: Getting it Right” as part of the Riverside County Bar Association (RCBA)’s CLE Brown Bag Series on July 12.
Founded in 1984, RCBA is a local organization in Riverside County that serves members, communities and the legal system through legal education, fee arbitration, dispute resolution and other services.
Over the last few years, the “asset protection” industry has grown exponentially. In his article “Hiding Assets in California,” authored for The Bankruptcy Strategist, Member David Goodrich discusses the three common asset protection tools—trusts, business entities and marital agreements—and why they commonly fail.
Though the Internet provides an abundance of advice for protecting assets from creditors and bankruptcy trustees, most asset protection advice fails to take into account the consequences of a Chapter 7 bankruptcy filing, should asset protection counter-measures be implemented. “It is important to note that nearly all asset protection tools fail because of the one-two combination of the right-hand jab of 11 U.S.C. § 548/Cal. Civ. Code §§ 3439.04/3439.05 and the left-hand upper-cut of § 522(g),” Goodrich writes.
Goodrich concludes the article by noting that to properly protect an asset in California, it’s generally best to understand and maximize exemptions, rather than to rely on dubious asset protection advice that could have serious consequences down the line.
In conjunction with other members of the State Bar’s Insolvency Law Committee (ILC), Asa S. Hami, Co-Chair of the ILC, interviewed the Honorable Maureen Tighe, United States Bankruptcy Judge in the Central District of California, for the seventh judicial profile in the ILC’s ongoing profile series.
The profile shares Judge Tighe’s history as a trustee, as well as her dedication to improving processes for pro se debtors and litigants, her belief in the value of tentative rulings and her commitment to integrate more technology into legal proceedings.
The ILC is a standing committee of the State Bar of California’s Business Law Section, which is dedicated to educating its members on all issues pertaining to business law.
The ABI Journal article “On the Edge,” authored by Elizabeth Gunn and Vincent Roldan, discusses the background of the 22-year-old Roussos case, which involves SulmeyerKupetz Members Howard Ehrenberg and Daniel Lev. The case continues to be ongoing.
The bankruptcy cases were reopened in July 2015 to investigate a fraud allegedly perpetrated on the bankruptcy court in 1994 by two brothers, Theodosios Roussos and Harry Roussos. As a result of their investigation, Mr. Ehrenberg, who was appointed chapter 7 trustee of the reopened cases, recently obtained an order from the presiding bankruptcy court approving a comprehensive settlement which, among other things, voided a sale order entered in 1994 and revested two valuable apartment buildings in the brothers’ reopened bankruptcy estates.
“Ultimately, the widow’s persistent battle to overturn a 22-year-old sale order obtained through fraud would have a fairytale ending,” Ms. Gunn and Mr. Roldan wrote. “The sword in this case was Rule 60(d)(3) of the Federal Rules of Civil Procedure, which authorizes a court to set aside a final judgment for fraud on the court, and for which there is no statute of limitations.”