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Important Amendments to U.S. Bankruptcy Code: Modifications to Dollar Amount Thresholds

April 4, 2019 | Categories: Firm News, Publications | Topics:Tags: , , ,

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

April 3, 2019 | Categories: Firm News, Publications | Topics:Tags: , , ,

(§ 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

April 3, 2019 | Categories: Firm News, Publications | Topics:Tags: , , ,

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

April 1, 2019 | Categories: Firm News, Publications | Topics:Tags: , , , ,

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 […]

Devon Daughety Is Up and Coming

August 3, 2018 | Categories: Firm News | Topics:Tags: , ,

On August 3, 2018, the Wisconsin Law Journal announced that Devon Daughety, of Kohner, Mann & Kailas, S.C. (KMK) was one of thirty Milwaukee attorneys selected as Up and Coming Lawyers. The honorees chosen for this award are on the fast track to making a significant impact on the legal profession. They represent determination — […]

Recent Amendments to Wisconsin’s Foreclosure Statutes May Delay the Recording of Deeds After Sheriff’s Sale

January 8, 2018 | Categories: Firm News, Publications | Topics:Tags: , ,

Recent amendments to Wisconsin’s foreclosure statutes went into effect on December 1, 2017. The amendments significantly changed the process of recording deeds after confirmation of sheriff’s sales throughout Wisconsin.   The amendments repealed Wis. Stats. §§ 846.167 and 846.17.  These statutes were colloquially known as the “Milwaukee County Rule”, because Wis. Stat. § 846.167 only […]

Dot Your I’s and Don’t Forget the T’s: Lender Loses Its Secured Status for Missing ‘T’ in Borrower’s Middle Name

October 6, 2017 | Categories: Firm News, Publications | Topics:Tags: , ,

A recent bankruptcy case dramatically illustrates how critical it is for a lender to strictly comply with the requirements for creating a legally effective UCC financing statement, and the hard lessons that follow if a lender fails to do so.   In Mainsource Bank v. LEAF Capital Funding, LLC (In re Nay), 563 B.R. 535 […]



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