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.
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...
First Circuit Rules on Applicability of Automatic Stay to Government Action in BankruptcyDecember 14, 2016
The First Circuit Court of Appeals recently ruled that the federal government was able to terminate a bankrupt's Medicare/Medicaid Provider Agreement without violating the automatic stay, rendering an important decision on the intersection of bankruptcy and Medicare law. On June 15, 2015 Parkview sent the Center for Medicare & Medicaid...
Bankruptcy Appellate Panel Rules on Trademark Rights of LicenseeDecember 1, 2016
The bankruptcy appellate panel for the First Circuit (BAP) recently ruled on the rights of a licensee of trademarks when the licensor files for bankruptcy and the licensor rejects the contract during the bankruptcy case. Tempnology, the debtor in bankruptcy, had a prepetition agreement with Mission Product Holdings (MPH) giving MPH certain...
Summary of the “Current Retail Bankruptcy” panel at the 18th Annual New England Bankruptcy Law ConferenceNovember 18, 2016
Andrew Lizotte chaired a panel on Current Retail Bankruptcy Issues at the 18th Annual New England Bankruptcy Law Conference held in Boston on November 16, 2016. Andrew’s presentation focused on recent operational and legal developments impacting the retail industry. Andrew was joined on the panel by Don Rothman at Riemer & Braunstein,...
Bankruptcy Court Rules on Right to Use Massachusetts Homestead Law for Out of State PropertyNovember 15, 2016
When an individual files for bankruptcy, the law generally allows that individual (the "debtor") to keep, or exempt, certain assets, with the remaining assets being sold to pay claims of creditors. Exemption rights are designed to help the debtor achieve a "fresh start" after bankruptcy. In Massachusetts, state law allows a debtor to exempt...