Bankruptcy Information

The holiday season is a time of change and transition as companies prepares for the upcoming New Year. However, behind the veil of the cherry holiday season, employees experience quite a bit of stress. In addition to their work responsibilities, employees also have to balance the tasks of purchasing gifts, managing holiday parties, and preparing for the New Year. Given all of the busy holidays—Christmas, Hanukkah, Thanksgiving, New Years, etc.—it is likely that employees may lose track of a task or two. Therefore, it is important for employers to remind employees about the importance of staying focused at work.

There are a number of tips that an employee can implement in order to stay productive during these busy times:

A major reason productivity suffers during the holidays is poor time management. This problem is especially affected by the holidays because employees must juggle multiple responsibilities. One way in which individuals address this issue is to create and maintain an updated calendar. By

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Retired NBA star Antoine Walker has been accused by his daughters mother of failing to pay child support and tuition for his 13 year-old daughter. Walker appeared in court last week, but a federal judge will have to decide whether or not the case can proceed since he has filed for Chapter 7 bankruptcy.

Along with $117,000 in unpaid child support and nearly $28,000 in school costs for his daughter, the 35 year-old owes $1.2 million to casinos and $2 million on a house he bought his mother. Walker is on probation after pleading guilty to not paying $750,000 he owes to three different Las Vegas casinos.

During his 13 year career in the NBA, he is estimated to have earned $110 million.

Tags: Nba, Nba Athlete

Many prospective debtors are concerned that a court may impose an asset freeze as they try to avoid collection of a money judgment. An asset freeze substantially tips payment negotiation in favor of the creditor because the debtor can do nothing to protect himself without risking contempt of court sanctions.

In a recent federal district court proceeding a judgment debtor made a blatant fraudulent transfer of a property to a third party during a civil lawsuit for money damages. The creditor pointed out the fraudulent transfer in an amended complaint and asked the federal court to freeze the defendant’s other assets to prevent further fraudulent transfers and asset dissipation.

The district court judge denied the creditor’s application for a freeze order. The judge said that although a court has inherent equitable power to impose an asset freeze in advance of a judgment, the law requires “considerable evidence” of likely future asset dissipation. The judge concluded that a single transfer of a house to the debtor’s relative was not enough to demonstrate likely future asset transfers warranting a freeze. The court

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Tags: Asset Freeze, Freeze

For Eva Longoria, art imitates life. The “Desperate Housewives” actress spent the past year embroiled in legal drama with investors in her Las Vegas restaurant Beso and will now produce a legal drama for the CW television network.

The one-hour show, called “Vega v. Vega,” will focus on “a brilliant, young, successful lawyer who suddenly finds herself forced to go into a practice with her mother, a pioneering female attorney with whom she has a love/hate relationship,” according to the Hollywood Reporter.

Bankruptcy Beat readers are familiar with the legal drama that’s been the backdrop to Longoria’s daily life over the past year. In January, the Las Vegas restaurant Beso sought Chapter 11 bankruptcy protection amid a dispute between its investors, including Longoria, who held nearly a third of the company. One of those in

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Tags: Drama, Legal Drama

This year’s higher fuel costs caused American Airlines to filed for Chapter 11 bankruptcy last week.  The airline contemplated filing for bankruptcy for about a decade as they have been unable to achieve a year-end profit only once since 2000.

American Airlines has lost more than $11 billion since 2001.  Now, the company has about $4.1 billion in cash and investments.  As the airline reorganizes, executives are insisting that customers should not notice a difference in flight schedules, frequent flier programs, or customer service.

According to the Chapter 11 bankruptcy filing, Miami-Dade County is American Airline’s second largest creditor besides lenders.  The county is owed $29 million.

If you would like to speak with an attorney about the benefits of filing for Chapter 11 bankruptcy, contact the West Palm Beach Chapter 11 bankruptcy attorneys of Eric N. Klein & Associates, P.A. at 561-353-2800 to discuss your situation with one of our experienced bankruptcy lawyers.

Tags: 11 Bankruptcy, Bankruptcy, Chapter 11, Chapter 11 Bankruptcy