Doing Business in Florida Blog
Search Results : Bankruptcy Code
Financial Institution Bankruptcy Act of 2017 – Big Changes for Big Banks
April 16, 2017
Brian G. Rich
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Bankruptcy Code, Bankruptcy/Restructuring, Business Reorganization
When the real estate market and financial markets tumbled during 2007-2008, the fallout was felt by financial institutions from large multi-billion dollar banks to small Community Banks. As these banks struggled to stay alive, a trend emerged for bank holding companies to market and sell a distressed bank through Section 363 of the Bankruptcy Code.
Don't Rob Peter to Pay Paul
February 22, 2017
Lewis M. Killian Jr.
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Bankruptcy Code, Bankruptcy/Restructuring, Business Reorganization, Director/Officer Litigation, Labor & Employment
When businesses experience financial difficulties, it is very common for them to “rob Peter to pay Paul.” Occasionally, this takes the form of using taxes that have been withheld from employees’ paychecks to pay expenses instead of remitting those funds to the IRS. Of course, it is well known that even though such obligations are corporate, individuals