Category Archives: General

Time with Parent Does Not Control Support Obligation

Child support is based on all relevant factors, including the amount of time the child spends with each parent, but that factor does not determine which parent has the support obligation, nor the amount of the obligee’s overnight custody credit. … Continue reading

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Account for Lien Filed Too Late

Payment for an architect’s work under contract is secured by statute, on improvements to real estate, by a lien. A later contract does not extend the time to file for the first contract. Separately from the earlier work, the parties’ … Continue reading

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Terra’s Kitchen, Baltimore-Based Meal Kit Company, Files for Bankruptcy

Baltimore-based meal kit company, Terra’s Kitchen, has filed for chapter 7 bankruptcy. The company’s bankruptcy petition listed its assets at just over $15,000, while its debts are nearly $20 million. The company is ceasing operations after struggling to raise capital. … Continue reading

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Stan Lee’s Daughter Sues Looking to Reclaim His Intellectual Property

J.C., Stan Lee’s daughter, is picking up the intellectual property battle that started at the end of Lee’s life. She is broadening the suit to examine nearly two decades of deal-making for Stan Lee, the comicbook legend. If you would … Continue reading

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District Judge Says Proceeds of Exempt Property Retain Exempt Status in Chapter 7

After filing for chapter 7 bankruptcy, a debtor can sell exempt property and permanently protect the proceeds from creditors, even if the debtor does not reinvest the proceeds in exempt property within the time limits prescribed by state law, bankruptcy … Continue reading

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Kik Shutting Down Its Messaging App to Focus Exclusively on Cryptocurrency

Ted Livingston, the CEO of Kik, a popular messaging app, announced that the company would be shutting down the messaging application. The company is shutting down the application in order to focus entirely on its own cryptocurrency Kin. If you … Continue reading

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Taxpayers Should Beware of Property Lien Scam

The Internal Revenue Service issued a tax tip warning taxpayers to watch for new versions of tax-related scams, one of which involves fake property liens. The following details will help taxpayers to recognize the property lien scam: A letter threatening … Continue reading

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As Maturities Loom, GNC is Said to Weigh Debt Refinancing Options

GNC Holdings, Inc., the health and wellness company, is looking to rework the almost $900 million debt to get ahead of important borrowing dates. GNC currently has 4,800 store locations in the U.S., including 1,200 Rite Aid store-within-a-store locations, more … Continue reading

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IRS Finalizes Safe Harbor to Allow Rental Real Estate to Qualify for Qualified Business Income Deduction

If the IRS safe harbor requirements are met, a real estate rental interest will be treated as a single trade or business for purposes of the Section 199A deduction. The safe harbor is available to taxpayers who seek to claim … Continue reading

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Circuit Finds No Successor Liability from Buying Assets and Continuing the Business

The Eighth Circuit recently held that a purchaser has no successor liability to a debtor’s unpaid creditors. Both in the business of roasting coffee, the buyer declined to directly purchase assets from the debtor because the debtor had substantial liabilities. … Continue reading

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