Tag Archives: bankruptcy

50 Cent

Will 50 Cent Lose Bitcoin Millions to Bankruptcy Creditors?

By Reno F.R. Fernandez III MacDonald | Fernandez Recently, rapper 50 Cent (Curtis Jackson) found about 700 Bitcoins between his virtual couch cushions worth some $7.7 million as of January…

Social Security Cannot Be Attached to Reimburse Insurer

In Bilyeu v. Morgan Stanley, 683 F.3d 1083 (9th Cir. 2012), the United States Court of Appeals for the Ninth Circuit rules that an insurer cannot impose a lien upon the proceeds of Social Security benefits in the possession of the insured in order to recover overpayment of long-term disability benefits.

Partnership That Never Existed Cannot Create Nondischargeable Debt

In Utnehmer v. Crull (In re Utnehmer), 2013 Bankr. LEXIS 4482, NC-12-1362-PaDJu (9th Cir. BAP Oct. 10, 2013), the Bankruptcy Appellate Panel of the United States Court of Appeals for the Ninth Circuit (“BAP”) ruled that Bankrupcty Code Section 523(a)(4) did not apply to render a debt nondischargeable in relation to a partnership that was never formed. Specifically, an agreement to re-characterize debt as profit-sharing equity was conditional upon events that did not occur.