The American Bankruptcy Institute once observed that “[a] robust, effective, and efficient bankruptcy system rebuilds companies, preserves jobs, and facilitates economic growth with dynamic financial markets and lower costs of capital.” These ideals have not been the reality for many small-business debtors in financial distress, who have historically been forced to reorganize under Chapter 11,...

Though not binding in Minnesota yet, the U.S. Court of Appeals for the Second Circuit’s recent decision relating to the automatic stay in bankruptcy is causing some angst across the nation. A creditor loan servicer in New York received something of a shock in July 2022, when the U.S. Court of Appeals for the Second...

The distinction between a security interest and a mortgage is easy to understand: a security interest under Article 9 of the UCC is used for personal property, and a mortgage is used for real estate. Rarely is there any confusion between these two. However, there is a third category of collateral which blurs the lines...

In this issue: The Basics of Fixture Filings The Importance of Seeking Relief from the Automatic Stay in Bankruptcy Small-Business Debtors and a Primer on the Small Business Reorganization Act Read Full Newsletter

L ife is full of uncertainties. One essential way to establish a sturdier footing is to maintain an up-to-date estate plan. However, even seemingly-solid testamentary documents (e.g. Wills) that are executed as part of an estate plan may encounter a number of challenges. Some of these challenges are fairly simple to manage—for example, by ensuring...

It is estimated that in the United States over the next 20 years more than $50 trillion in wealth will transfer from the Baby Boomers to Generation X and the Millennials. That is a lot of money. This Great Wealth Transfer is not going to occur just through inheritances when Baby Boomers die. Baby Boomer...

The primary goal of estate planning is to assure the transfer of a decedent’s property to the beneficiaries of his choice at the smallest possible financial and emotional cost. During the course of a lifetime various types of property are accumulated and many personal relationships are developed. The twin foundations of all estate plans are...