Murphy & King Announces New Shareholders, Kathleen R. Cruickshank and Christopher M. CondonMay 16, 2019
Murphy & King, Professional Corporation announced today that Kathleen R. Cruickshank and Christopher M. Condon have been elected Shareholders of the firm. Kathleen R. Cruickshank Ms. Cruickshank focuses her practice on representing debtors, trustees and creditors in a wide array of Chapter 11 and Chapter 7 bankruptcy cases and in...
Murphy & King Shareholder Ethan Jeffery on “OA on Air”.May 8, 2019
Murphy & King Shareholder Ethan Jeffery recently discussed bankruptcy and financial restructuring with Ann Murphy on "OA on Air". During the interview, Attorney Jeffery reviewed a few of the reasons businesses get into financial difficulty even when the economy is good, and why it’s important to seek professional advice early. Ethan...
Murphy & King Recognized by Chambers and Partners for 13th Consecutive YearMay 7, 2019
Boston firm’s Bankruptcy and Restructuring Practice Designated in Top Tier in the Region in 2019 (Boston, MA) – May 7, 2019 – Murphy & King, P.C.announced today that, for the 13th consecutive year, the firm’s Bankruptcy and Financial Restructuring Practice has been recognized by Chambers and Partners in Chambers USA 2019 as...
Murphy & King Shareholder Andrew Lizotte interviewed by Banker & TradesmanMarch 11, 2019
Murphy & King Shareholder Andrew Lizotte shares his experience with Banker & Tradesman about the multiple paths that may lead to insolvency and best practices for resolving disputes with lenders and other creditors.
Arbitrator Awards KCST USA and Axia Netmedia Corp. $12.2 MillionOctober 4, 2018
An arbitrator has rejected a $30 million claim by the Massachusetts Technology Park Corp. (MTC), and awarded KCST USA, f/k/a Axia NGNetworks USA, Inc., and Axia NetMedia Corp. $12.2 million from MTC, a Commonwealth of Massachusetts state agency, in the dispute over the...
Personal Liability of Directors and Investors for Unpaid WagesMarch 7, 2018
In a recent Radio Entrepreneurs podcast, we discussed the various circumstances under which principals of a company can be exposed to personal liability for the debts of that company, including potential liability for...
Appeals Court Confirms Use of Net Investment Method to Calculate Claims in Ponzi SchemeJune 12, 2017
When a Ponzi scheme collapses, as they all eventually do, the court must develop a process for repayment of victims based upon the limited funds that may be available. A critical component of this process is determining the amount of a victim’s claim that will share in any recovery. The Second Circuit Court of Appeals recently issued a...
Discharge of claims in bankruptcy – Covenants not to competeApril 10, 2017
One of the principal benefits for an individual filing for bankruptcy is the so-called fresh start, that is, a discharge of liabilities that arose prior to the bankruptcy. A recent decision of the Massachusetts Bankruptcy Court addressed the right to a discharge in relation to covenants not to compete with a former employer or...
Bankruptcy Court Allows Exemption for Property Not Used as Principal ResidenceFebruary 21, 2017
In November 2016, we provided an update on a novel bankruptcy case addressing an individual’s right to exempt the value of their home under the Massachusetts homestead law. Specifically, the case involved whether Massachusetts law could be applied to exempt the value of property located in another state (it can). A Massachusetts bankruptcy...
Bankruptcy Court allows for substantive consolidation of debtor and nondebtor.January 9, 2017
Occasionally, a person or company in bankruptcy (the debtor) and a related person or company allow their financial affairs to become a bit too entangled. In these circumstances, bankruptcy courts may impose several remedies, one of which is substantive consolidation. Substantive consolidation effectively provides for the merger or combination of...