(By accessing, browsing or using the pages below, you agree to the Blog Conditions of Use/Disclaimer available under "Links.")
Under the Federal Priority Act, the government gets paid first if it has an outstanding claim when businesses or individuals become insolvent. But a review of relevant case law suggests that creditors who hold a prior perfected interest in a debtor’s real or personal property may still have a fighting chance in an ensuing priority battle. READ MORE
Judgment debtors often try to use the Fifth Amendment’s privilege against self-incrimination to avoid post-judgment discovery of their assets and income. However, the U.S. District Court for the Eastern District of Missouri ruled last year that when the judgment debtor is a trust, neither the trust nor its individual trustees may invoke the privilege against self-incrimination, and the trust must comply with post-judgment discovery. The decision is important for banks and other creditors because individuals often hold their assets in trusts. READ MORE
NOTICE.
Although we would like to hear from you, we cannot represent you until we know that
doing so will not create a conflict of interest. Also, we cannot treat unsolicited
information as confidential. Accordingly, please do not send us any information
about any matter that may involve you until you receive a written statement from
us that we represent you (an ‘engagement letter’).
By clicking the ‘ACCEPT’ button, you agree that we may review any information you transmit to us. You recognize that our review of your information, even if you submitted it in a good faith effort to retain us, and, further, even if you consider it confidential, does not preclude us from representing another client directly adverse to you, even in a matter where that information could and will be used against you. Please click the ‘ACCEPT’ button if you understand and accept the foregoing statement and wish to proceed.
