Guaranty or Surety?
Under Pennsylvania common law, “the primary difference between a surety and a guarantor is the time at which a creditor can collect from each. With regard to suretyship, the creditor …
Blog
Blog
A Refresher on 503(b)(9) “20-Day Claims” Part 2
Posted on by Bob Bernstein
Unfortunately, the Code does not require that the administrative claim be paid in full immediately after the Court allows the claim. Instead, the Code only sets the relative priority of …
A Refresher on 503(b)(9) “20-Day Claims” Part 1
Posted on by Bob Bernstein
Since clients ask about this all the time, I thought it would be a good time to give a quick refresher on 20-day claims and briefly discuss how …
Where is Your Collateral?
Posted on by Bob Bernstein
It should go without saying that as a secured creditor you should be aware of the location of any and all collateral in the debtor’s possession that is the subject …
Federal Court Replevin Actions: Making Use of a Valuable, but Often Overlooked Tool
Posted on by Bob Bernstein
So you’ve met with an attorney and you have been informed that you have a “strong” case. Of course you instruct your attorney to immediately run to the nearest courthouse …
Pennsylvania State Law aka Act 47
Posted on by Bob Bernstein
I read this article in the Pittsburgh Tribune Review:(http://www.pittsburghlive.com/x/pittsburghtrib/news/s_672744.html) and it got me thinking about state oversight of financially distressed municipalities. Under Pennsylvania state law (commonly referred to as …
Post Judgment Interest: Are You Giving Money Away?
Posted on by Bob Bernstein
In a perfect world, a creditor would never have to file a lawsuit to collect on balances due and owing from debtors. In a great world, any judgment obtained as …
Bankruptcy Code Changes: Will it be Cheaper and Easier for Debtors?
Posted on by Bob Bernstein
The New York Times Editorial Page recently published an Op-Ed piece by Ronald Mann (http://www.nytimes.com/2010/03/12/opinion/12mann.html?ref=opinion), professor of law at Columbia. Mr. Mann’s Article suggested major changes to the Bankruptcy Code to make …
Breaking Promises or Breaching Contracts: Which do your Debtors do?
Posted on by Bob Bernstein
A couple of months ago, I attended a presentation by a well known trial attorney. He opened the seminar by stating that he had never represented a Plaintiff/Creditor in a …
Preference Action
Posted on by Bob Bernstein
There is perhaps nothing more frustrating than when one of your customers files bankruptcy and avoids paying money that they owe your company. However, anyone that has dealt with a …