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Bankruptcy and Workers Compensation Benefits

For individuals injured on the job in Florida, worker’s compensation provides necessary wage replacement and payment of medical expenses related to the injury.  Worker’s compensation payments are paid out weekly or if a settlement agreement is reached, in one lump sum.   The wage replacement benefits paid under Florida’s worker’s compensation laws are less than the wages employee would have received if they had not been injured and continued working.  For this, reason, injured e[...]

11th Circuit Rules Business Debtor Owes Default Rate Interest

This summer, the 11th Circuit, the court that provides precedent for Florida Bankruptcy cases, came down with an unfavorable ruling for bankruptcy debtors regarding default rate interest in a Chapter 11 bankruptcy case, in re: Sagamore Partners, Ltd.  As with all bankruptcy cases, having an understanding of the background helps:  Key Pre-Bankruptcy History The debtor, Sagamore Patners, Ltd (“Sagamore”), owns a namesake hotel in Miami.  In 2006, Sagamore took out a secured loan for $31.5[...]

Debtor Rights

At Adam Law Group, we work with a lot of clients that are currently having trouble making payments on debts owed or have had such troubles in the past.  The reasons for these difficulties are varied – from market changes to job loss to a bad deal to excessive medical expenses to simply taking on to many debts.  Whatever the cause, such financial difficulties often lead to dreaded, persistent efforts from creditors to collect.   We’ve found that many consumers don’t know the debtor rig[...]

"Estate" Defined in Bankruptcy Action

Former business partners, multi-million dollar lawsuit settlements, and offshore accounts sounds like a recipe for a complex bankruptcy action, right?  All were involved in the In Re Daniel W. Allen, Sr. bankruptcy action.  Yet, in the words of the deciding judge, the case’s “ultimate resolution involve[d] nothing more exotic than interpretation of the Bankruptcy Code.”  The underpinnings of the case began in 1989 when Daniel Allen, Sr. and Gary Carpenter formed a company, ATN, that res[...]

Bankruptcy Discrimination in Florida

It is axiomatic that the purpose of permitting Bankruptcy of all kinds is to allow the debtor a fresh start.  The United States Supreme Court has recognized that this goal benefits the public as well as the debtor because the debtor receives “a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt.”  Bankruptcy Discrimination Protection It is this overarching goal that Congress was undoubtedly pursuing when it drafted[...]

Executory Contracts in Business Bankruptcy

Business Bankruptcy Business bankruptcy, typically filed under Chapter 11 of the bankruptcy code, present a host of unique issues.   One of those issues is what happens to executory contracts.  What is an executory contract? Even though it has a large statutory section dedicated to them, the Bankruptcy Code does not explicitly define what an executory contract is.  However, courts routinely define such contracts in the same way.  Essentially, an executory contract is one where both parties [...]

Social Media Property Rights in Bankruptcy

Modern technology, particularly the internet and smartphones, has brought with it many new types of property, property that is largely intangible.  Intangible property does not have a physical existence and cannot be touched or moved like a car, painting, or other type of tangible property.  Much of the law has evolved to deal with tangible property so courts are still adapting to how to deal with intangible property in all areas of the law. Earlier this month, one bankruptcy court began to ta[...]

Debtors Win Against Creditor Harassment

Though bankruptcy is often thought of as a negative, it is better thought of as an opportunity to stop creditor harassment.  An opportunity provided by the law because of a belief that sometimes debt can reach a point where it is nearly debilitating and that individuals and businesses can benefit from a fresh start. Perhaps the most stress relieving privilege that bankruptcy grants is the automatic stay.  As discussed in earlier blogs, the automatic stay is an automatic court order preventi[...]

Bankruptcy Effect on Divorce : No Love Lost

The bankruptcy effect on divorce It’s been said that two things can make ordinarily rationale individuals act crazy: love and money.  It is not surprising then that when bankruptcy and divorce are combined the results  can get, well, interesting.  Such was the case in Morales v. Giddens, an adversarial case arising from the  bankruptcy effect on divorce regarding Christopher Giddens.  Christopher Giddens and Marta Morales divorced in 2008 after ten years of marriage.  The two agreed to a[...]