Bankruptcy Law Articles

Legal articles about Bankruptcy
published by law firms to help you understand your rights

Turkish Banking and Finance System

We will be covering the Turkish System in Banking and Finance, to begin with let’s look at the definition and what they mean. Every country has its own system, and every country strives to have the best system. However, many people lack the detailed information on how the Banking and Finance system works.

What Damages Can I Receive in a Telephone Consumer Protection Act Claim?

Damages for any civil lawsuit generally depend on what happened, the extent of the injury and the value of the claim. The damages are calculated by the plaintiff's lawyer alone or with another professional. Understanding what damages the affected person can receive may depend on how much the TCPA relates to the individual or if there are multiple incursions with different agencies.

Complying with Accounting Formalities is Necessary to Avoid Directors' Liability in Belgium

Directors can be held liable when their company goes bankrupt, except when the bankrupt company is a small business. But, the Supreme Court ruled recently that small companies are not always immune from this directors' liability. Only if they comply with the accounting formalities. We discuss this ruling in this article.

Debt Recovery Law in Australia

Debt recovery is a complex and often time-sensitive process that requires a thorough understanding of the law. In Australia, debt recovery law outlines the rights and obligations of creditors and debtors, and governs the process for collecting and recovering debts. With numerous regulations, laws, and policies in place, it can be difficult to navigate debt recovery without proper guidance. In this article, we will discuss the importance of having a lawyer to assist you in debt recovery law, as well as provide an overview of the key areas of this law.

Scheme of Arrangement: 4 Legal Issues Determined by the Federal Court in Malaysia

The scheme of arrangement is a vital tool for corporate restructuring and insolvency that enables financially troubled companies to restructure their operations, safeguard their assets, and fulfil their obligations. However, different jurisdictions appear to have different decisions regarding some legal issues arising out of a scheme of arrangement. Some of these issues have been put to rest through the decision of the Federal Court in MDSA Resources Sdn Bhd v Adrian Sia Koon Leng (Civil Appeal No.:02(i)-65-07/2022(M). Our firm, Bryan & Co., is honoured and proud to have assisted the Respondent from the proceedings in the High Court up until the final disposal of the matter before the Federal Court.

How Bankruptcy and PKPU Petition Turns Into Tools to Collect Unpaid Debt in Indonesia

Bankruptcy and court-supervised restructuring supposed to be a mechanism utilized by debtor to restructure its debts or to declare bankrupt. However, in Indonesia there is a phenomenon where bankruptcy and court-supervised restructuring is used by certain creditors to forcefully collect the debtor's debts. The simple requirements for filing bankruptcy and PKPU is the main factor for this phenomenon. In addition, instead of traditional legal action - i.e. lawsuit - that requires long time and expensive costs, bankruptcy and PKPU is shorter and more affordable.

Impact of Administration on Asset Owners in Ghana

Administration is a system intended to help struggling companies to get back on their feet. However, it has serious implications for asset owners. This article discusses the impact of administration on asset owners, especially their right to repossession and whether the court is their only option.

Set-Off Under the Corporate Insolvency Act in Ghana

Set-off involves crossing out mutual debt obligations between an debtor and a creditor. It is applicable in any type of contract. However, when there is the need to set-off in insolvency contexts in Ghana, special rules apply. These rules are explained in this article

Debt Collection Between the Past and Present in the Kingdom of Saudi Arabia

Debt collection is the process of collecting money owed by individuals or institutions that have not paid their debts on time. Statistics show that there have been many problems related to debt collection in the Kingdom, but these problems have varied between the past and the present.

Australia: Managing Financial Challenges

In the dynamic world of today’s economy, fluctuations in interest rates can have a profound impact on individuals and families, often leading to financial hardships. If you find yourself struggling to cope with increased interest rates and the resulting strain on your finances, seeking legal advice can be a crucial step toward finding solutions and regaining stability.

Employee Rights When The Employer Is Facing Bankruptcy

Business bankruptcy can be a complicated process. Some complications specifically affect the employees. It’s important to understand that there are different types of bankruptcy. The type of bankruptcy that an employer has filed will affect the employee's rights.

Debt Relief in Kuwait: Unraveling the Path to Financial Freedom

Debt relief in Kuwait encompasses a multifaceted approach, tailored to meet the unique needs and circumstances of debtors. The concept of perplexity intertwines with the very fabric of this process, as the complexities of debt resolution demand an intricate balance of legal expertise, negotiation finesse, and financial acumen.

How to Collect a Debt in Italy?

There are two routes to recover a debt in Italy: via extrajudicial route, without the need to go to court, and via judicial route through the court.

Debt Recovery in Kuwait

The process of reclaiming debts owed by delinquent borrowers in Kuwait, known as debt recovery, can be a labyrinthine and time-consuming venture, entailing various legal and cultural nuances that must be taken into account.

Can I Get a Lien on Someone’s House Who Owes Me Money?

Lending money can be generous but risky. Not everyone who owes money pays off that debt. The creditor who is owed the money, whether an individual or a business, may look for alternatives for securing the repayment of the money owed. One option may be to place a lien against the debtor’s real property.

Eviction of Tenants Under Turkish Law

The removal of the tenant from the leased real estate for any reason by legal methods is called eviction of the tenant. The main provisions regarding the eviction of the tenant are regulated in Articles 347 and the following articles of the Turkish Code of Obligations No. 6098 which is published in the Official Gazette with number 27836, dated February 4, 2011. It should be noted that the tenant may be evicted only for the reasons outlined in the law. If the lessor does not have a valid reason, the tenant cannot be evicted from the property for the duration of the lease agreement. However, it is possible to evict the tenant and terminate the lease agreement if the lessor has a just cause even though the contract period has not expired.

Annulment of Objections on Enforcement in Turkey

In Turkey, debt enforcement proceedings are divided into two categories: enforcement proceedings with a judgment and enforcement proceedings without a judgment. In enforcement proceedings with a judgment (based on a court decision already obtained), the enforcement proceedings can be carried out for all kinds of receivables. However, this is not the case for proceedings without a judgment (which can be carried out directly and without the need for a court decision). Article 42 of the Enforcement and Bankruptcy Law No. 2004 (EBL) published in the Official Gazette dated June 19, 1932, and No. 2128. stipulates that “Enforcement proceedings for the payment of a sum of money or the provision of a collateral shall commence with a request for enforcement proceedings and shall be carried out through attachment, foreclosure of a pledge or bankruptcy” and can only be used for money and collateral receivables.

Court Rules Cryptocurrency Is “Property” Under Hong Kong Law

Gatecoin Limited (“Gatecoin”) is a company founded in Hong Kong. Re Gatecoin [2023] HKCFI 914 is the first case in Hong Kong to discuss the proprietary nature of cryptocurrency in detail.

Bankruptcy of Italy's The Rock Trading: How to Recover Lost Cryptocurrencies?

Were you involved in the bankruptcy of Italy's The Rock Trading? Have you lost your cryptocurrencies?

Bankruptcy Isn't the End, It's the Beginning

Bankruptcy isn’t the end, it’s the beginning. Bankruptcy immediately stops annoying and harassing collection calls, foreclosure, repossession, wage garnishment, and eviction. In addition, the bankruptcy process tries to teach new credit and money management skills as you must complete two courses: pre-filing bankruptcy counseling and post filing debtor education course.

Navigating Insolvency in Australia

Insolvency law in Australia governs the process by which individuals and businesses who are unable to pay their debts are declared bankrupt or enter into a debt agreement. Insolvency law provides a framework for the protection of creditors, the rehabilitation of debtors, and the resolution of insolvent businesses. In this article, we will discuss the key aspects of insolvency law in Australia and the importance of engaging a lawyer to assist you.

What Do I Need to Know About Bankruptcy?

Some people express concerns that their reputation and their pride will be damaged. Your bankruptcy attorney understand these concerns, but will remind their clients that bankruptcy is a right granted by the federal government and everyone needs help at some point. Therefore, you are within your rights to seek bankruptcy protection.

Bankruptcy Fraud: When Is It Committed?

Bankruptcy fraud typically occurs in one of the following four situations: (1) a debtor concealing assets in order to avoid losing them; (2) a debtor intentionally field an incomplete or falsified form, which can also constitute perjury; (3) a debtor files multiple times in different jurisdictions, whether the form is true or falsified/incomplete; or (4) a debtor bribes a court-appointed trustee.

Debt Recovery in The Netherlands

Unpaid invoices are a common problem in the Netherlands, despite Dutch customers being known as one of the better payers in Europe. However, with the right measures and support from experienced debt collection specialists, debt recovery in the Netherlands can be a successful process. At our international law firm in the Netherlands based in Amsterdam, the Netherlands, we have a strong reputation for debt collection services. Our experienced and dedicated team of lawyers and debt collection specialists have extensive knowledge and experience in B2B debt recovery in the Netherlands.

Deciding Between Chapter 7 and Chapter 13 Bankruptcy

Filing for bankruptcy is a process by which debtors can ease the burden of overwhelming financial obligations. For an individual debtor, that usually means filing under Chapter 7 or Chapter 13. It is important to know the requirements and specifics of both options. Bankruptcy has long-term financial and legal outcomes and an experienced bankruptcy lawyer can help an individual debtor avoid procedural missteps and misunderstandings of the law.

Maximizing Corporate Success in Australia

Corporations law in Australia is a complex and ever-evolving area of the legal system, affecting businesses of all sizes and industries. The Corporations Act 2001 is the primary piece of legislation that governs corporations in Australia and outlines the rights and obligations of both directors and shareholders of a company. In this article, we will discuss the key elements of corporations law in Australia and why it is essential for businesses to engage a lawyer to assist them.

Understanding and Avoiding Construction Liens

A lien is defined as "a right to keep possession of property belonging to another person until a debt owed by that person is discharged." (Oxford Languages). A construction lien (also referred to as a mechanics' lien), gives builders, contractors, and suppliers legal recourse to get paid for their work as well as any materials or supplies purchased for a project. This recourse is in the form of a right to interfere with your ability to convey clear title to your real property and/or to foreclose the construction lien to take title to that property.

From Pen to Pendrive - Part III: Proving With Emails During Debt Collection in Hungary

Sometimes it happens in business life that the other party does not pay. In case the creditor takes legal action to recover the debt, it is very important to prove his claim against the debtor, which is usually based on written evidence. In this article, we examine how can the creditor use electronic texts or other communication to prove its claim during debt collection in Hungary.

Romania: How a Company Can Recover Its Debt From Another Company

Pavel, Margarit and Associates Romanian Law Firm successfully represented a company from Slovakia that operates in the real estate and construction sector in a litigation and debt recovery case in Romania that involved recovering a substantial debt as a result of non-performance of the debtor’s obligation to deliver the goods as agreed by the parties.

Debt Collection Lawsuits and Judgments - What to Expect

When you are facing a debt collection lawsuit, it is important to respond and to know your rights. Collection companies often must follow a specific protocol when collecting debts. There may also be specific rules that must be followed for these transactions. Additionally, federal and state laws often impose additional requirements regarding the collection of debt.

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