The Advantages of Working with a Smaller Law Firm
When it comes to choosing a law firm, there are literally thousands of options available, whether you’re looking for a firm in your city or state, across the nation, or around the world. Too many people gravitate toward larger firms simply because they assume bigger is better. However, the advantages of smaller law firms offer […]
Employee or Independent Contractor?
Utilizing a mix of independent contractors and full-time employees offers organizations staffing flexibility and cost savings. In today’s “gig economy,” it’s not surprising that more and more companies are moving in this direction. However, there can be significant risks and penalties if workers are misclassified. With independent contractors, organizations avoid paying the benefits that […]
Credit Where Credit Is Due? Rethinking Strategies for Foreclosure Sales, Credits, and Guaranties
In commercial lending transactions, lenders often secure the loan with a mortgage on the business real property. In the event of a default under the loan documents, the lender may elect to foreclose the mortgage securing the loan. The amount paid at the foreclosure sale confirmed by the court (determined by the court to be […]
Why Hire an Appellate Lawyer?
When people think of a legal appeal, the typical scenario that comes to mind is when one party loses in court and they appeal in an attempt to reverse the verdict in their favor. In some cases, that happens, but appeals are not a second bite at the apple, as most people think. The process […]
The New Rules: One Year Later
The apparent effects of the new Wisconsin Rules of Civil Procedure since being put in place. Last year, KMK cautioned that sweeping changes were coming to the Wisconsin Rules of Civil Procedure through legislation passed by the Wisconsin legislature in April 2018 (see this feature article). As the one-year anniversary of the rule changes […]
Important Amendments to U.S. Bankruptcy Code: Modifications to Dollar Amount Thresholds
Section 104(a) of the Federal Bankruptcy Code provides for automatic adjustments to certain dollar amounts in the Bankruptcy Code every three years. (11 U.S.C. § 104(a)). The most recent adjustments took effect on April 1, 2019, and apply to all cases commenced on or after that date. Below is a summary of many adjustments that […]
Exemptions and Lien Avoidance Summary
(§ 522)—Exempt assets are assets that unsecured creditors (and some secured creditors) cannot reach. Some key points about exemptions are the following: A. Exemptions are for people—not for corporations, partnerships, or LLCs. But, two individuals working together might not be a partnership and each may be able to claim exemptions. (e.g. the “mom-and-pop” business customer) […]
Involuntary Petitions – Forcing a Deadbeat into Bankruptcy
The ultimate step in creditor collection brinkmanship is the decision to start an involuntary bankruptcy petition against a debtor. There are myriad reasons to commence an involuntary petition against a debtor. For example, the involuntary may be used as a last resort after all other efforts to obtain payment have been exhausted or appear useless; […]
Preference Defenses: Update on the BAPCPA Reforms
When it was enacted, most publicity regarding the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“BAPCPA”) focused on consumer bankruptcy reforms. However, commercial creditors faced with the vexing problem of a preference action in bankruptcy also received some relief. The three most significant changes were touted at the time to offer the following […]
What Business Type Is Right for You?
Be sure you establish your business in a way that leverages benefits and fits your needs. When setting up a new business, the prime initial question is whether to establish a limited liability company, a corporation, a general partnership, or a sole proprietorship. The answer in significant part depends on how you want to […]