GCK On Law
How Important is Quality Drafting? It Could Cost You $10 Million Dollars
As an attorney, we often see litigation over poorly drafted contracts which leads to conflicting interpretations. Judges are asked and required to consider word choice, sentence structure, and grammar to determine the meaning of a contract or law. History is replete...
Tax Liens and Judgments: Changes to Credit Reports Benefit Taxpayers, Harm Others
Historically, the three major credit bureaus – Experian, Equifax, and Transunion – have included tax liens (federal and state) and judgments on its consumer credit reports. Tax liens and judgments are considered “public records,” which can be discovered by third...
Are actions to pierce the corporate veil property of the bankruptcy estate?
Section 541 of the Bankruptcy Code establishes that a debtor’s bankruptcy estate includes “all legal and equitable interests of the debtor in property as of the commencement of the case.” This includes causes of action the debtor has against others as of the...
Judicial discretion in awarding Chapter 7 Trustee compensation under Sections 326 and 330
Section 330(a)(1) of the Bankruptcy Code governs compensation for various categories of bankruptcy court professionals, including Chapter 7 trustees. It states that, “subject to sections 326, 328, and 329, the court may award to a trustee * * * reasonable...
Courts split on protections for trademark licenses under Bankruptcy Code Section 365(n)
While Section 365(n) of the Bankruptcy Code applies to intellectual property licenses, the definition of “intellectual property” is not found within that section of the Bankruptcy Code; rather, the definition is found in Section 101(35A) of the Bankruptcy Code. ...