GCK On Law
Section 502(b) – Post-Petition Attorneys’ Fees for Unsecured Creditors
Courts have disagreed on the issue of whether an unsecured creditor can recover fees incurred post-petition. Compare, for example, SNTL Corp. v. Ctr. Ins. Co. (In re SNTL Corp.), 571 F.3d 826, 42 (9th Cir.2009) (“[W]e reject the argument that section 506(b) preempts...
Section 362(k) – Sanctions / Attorneys’ Fees
Under Section 362(k)(1) of the Bankruptcy Code, “an individual injured by any willful violation of a stay * * * shall recover actual damages, including costs and attorneys’ fees, and, in appropriate circumstances, may recover punitive damages.” Some opinions have...
Section 9-109(a)(3) – Merchant Agreements
Merchant Agreements styled “merchant cash advances” or “receivables purchases” are facilities which provide debtors with immediate cash (and hence liquidity to operate) in exchange for the proceeds from future accounts receivable, which are often described as being...
Recent Changes to the IRS Independent Office of Appeals: What Does This Mean for Taxpayers?
The Internal Revenue Service (“IRS”) Independent Office of Appeals has introduced two initiatives aimed at promoting greater transparency and fairness to taxpayers: (1) a Post Appeals Mediation pilot program, and (2) taxpayer access to Appeals Case Memos. While these...
Strict Deadline Enforcement: Tax Court’s Approach to BBA Partnership Audits
Several recent tax decisions exhibit the Tax Court’s strict enforcement of procedural deadlines. This firm enforcement by the Tax Court, highlights the critical role of diligence, timeliness, and adherence to procedural rules in maintaining the integrity of the...