Augments expanded Reclamation Rights Robert S. Bernstein, Esq. Bernstein-Burkley, P.C. Creditors are discovering new ways to help collect debts from bankrupt customers since the passage of the 2005 amendments to the The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). The amendments offered unsecured creditors powerful new collection rights, including Section 503(b)(9) of […]
Kirk B. Burkley Bernstein-Burkley, P.C. In baseball, the utility player is the player on the team that can fill in at almost any position when needed. Having a good utility player on the team provides added depth to management and the ability to mix and match the roster to meet the challenges presented by any […]
Bernstein-Burkley, P.C. In these difficult economic times, debtors have become more creative in proposing additional or substitute sources of collateral to secure a debt or obtain a forbearance or loan modification. As real estate values have plummeted, alternatives have become more attractive, including an assignment of the debtor’s interest in an operating entity with good […]
Lara S. Martin, Esq. Ordinarily, the first step a creditor will take upon learning of a debtor’s bankruptcy case is to file a proof of claim to seek payment of money owed. A claim or interest that has been filed with the court will be allowed, and will serve as the basis for distribution of […]
By Kirk B. Burkley, Esq. INTRODUCTION TO CHAPTER 9 A result of the Great Depression, in 1934 (Pub. L. No. 251, 48 Stat. 798 (1934)), Congress formulated the first version of Chapter 9 to protect debt laden cities and municipalities. Chapter 9 of Title 11 of the United States Code (the “Bankruptcy Code”) is only available […]
By Kit F. Pettit, Esq. With the recent activity in the area related to the Marcellus shale natural gas deposits that have proven to be abundant in our region, it is possible that you have been contacted by a natural gas exploration company or a land agent seeking to lease your oil and gas rights. […]
By Robert S. Bernstein, Esq. The sun always rises, stocks always go up, and the economy will always turn around. If you don’t believe that these are true statements, there is no need to read on. If, on the other hand, you admit the probable truth of these maxims, then you always need to be […]
Congress enacted Chapter 12 – “Bankruptcy for Family Farmer with a Regular Annual Income” – of the Bankruptcy Code to mitigate the financial circumstances that exist for many farmers in America. Many “family” farms operate much like an unincorporated business, with high revenue and high debt-loads. Previously, family farmers often had too much debt to […]
PITTSBURGH, PA – Robert S. Bernstein, managing partner of Bernstein-Burkley, P.C. and Kirk B. Burkley, partner of the firm’s Bankruptcy & Restructuring practice area were recently selected by their peers for inclusion in The Best Lawyers in America® 2011 in the field of Bankruptcy. (Copyright 2008 by Woodward/White, Inc., of Aiken, S.C.). Since its inception […]
by Kirk B. Burkley and Robert S. Bernstein (Published in Financier Worldwide Magazine: Bankruptcy & Restructuring Global Reference Guide 2011) Many corporations utilize Chapter 11 of the bankruptcy code to reorganize their business and financial affairs or to conduct an orderly sale or wind down. But what options are available to financially distressed municipalities to […]
By Kirk B. Burkley (Previously published in the ABI Journal) It is almost universally accepted that many of the blue collar jobs that have been lost over the last couple of years are never coming back. Without getting into the political issues surrounding the exploration and drilling for oil and natural gas, the business of […]
A forum selection clause is a contractual provision, whereby the parties to the contract agree that all future legal disputes between the parties will be litigated in a particular forum. The Pennsylvania Supreme Court has long recognized the validity of forum selection clauses, holding that, “while private parties may not by contract prevent a court […]