Monthly Archives: November 2010

MGM Studios Files for Chapter 11 Bankruptcy Protection, yet Still Able to Finance “The Hobbit”

On Wednesday, November 3, 2010, MGM, Inc., one of the most powerful production studios in the world, filed for Chapter 11 Bankruptcy. Chapter 11 is commonly referred to as the corporate equivalent of Chapter 13 Bankruptcy, in that the person … Continue reading

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Family Business? – Don’t wait to talk about tough issues!

It’s a well-known belief that business and family are not a good combination. Most people cannot fathom a disagreement or falling out between family members, much less those family members with whom they work. Therefore, it’s not much of a … Continue reading

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Debt Settlement Companies Prohibited from Charging Upfront Fees

The Federal Trade Commission (FTC) has dropped the hammer on Debt consolidation & settlement companies, announcing that these companies can no longer charge upfront fees for their services, effective October 27, 2010. A series of previously posted blogs discussed prohibited … Continue reading

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Creditor Rights and Obligations Part 5 – Limits on Creditors

This will be a continuation of a 5 part series on what creditors can and cannnot do in collecting debts. Federal and Florida law provide protection from overagressive creditors. Again, Florida law practically imitates Federal law in this regard. Q: … Continue reading

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Supreme Court Considers California’s Ban on Violent Video Games Sales, Could it Mean Bad News for Tech Businesses?

On November 2, the Supreme Court heard arguments in the case of Schwarzenegger v. Entertainment Merchants Association. California passed a law prohibiting the sale of violent video games (those games labeled as “Mature”) to minors. The law was struck down … Continue reading

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Creditor Rights and Obligations Part 4 – Limits on Creditors

This will be a continuation of a 5 part series on what creditors can and cannnot do in collecting debts. Federal and Florida law provide protection from overagressive creditors. Again, Florida law practically imitates Federal law in this regard. Q: … Continue reading

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Creditor Rights and Obligations Part 3 – Limits on Creditors

This will be a continuation of a 5 part series on what creditors can and cannot do in collecting debts. Federal and Florida law provide protection to debtors from overagressive creditors. Again, Florida law practically imitates Federal law in this … Continue reading

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Creditor Rights and Obligations Part 2- Limits on Creditors

This is a continuation of a 5 part series on what creditors can and cannot do in collecting debts. Federal and Florida law provide protection to debtors from overagressive creditors. Again, Florida law practically imitates Federal law in this regard. … Continue reading

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Creditor Rights and Obligations Part 1- Limits on Creditors

In trying to collect a debt owed, creditors have rights and remedies in enforcing debt agreements against their debtors. Sometimes they can garnish wages, obtain liens on property, reposess items pledged as collateral or even file civil suit for monetary … Continue reading

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Business “Divorce” – American Chopper Style

It’s quite common in the excitement of creating a new business, to neglect to consider the demise of that business. That was the case with Orange County Choppers (“OCC”), home to the father-son motorcycle fabricators Paul Teutul Sr. and Paul … Continue reading

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