AUGUST 20, 2019
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Bankruptcy & Restructuring News
In house attorneys looking for a better way to organize, vet and easily retrieve legal news created the National Law Review on-line edition.

Around the clock, the National Law Review's editors screen and classify breaking news and analysis authored by recognized legal professionals and our own journalists.

There is no log in to access the database and new articles are added hourly.​
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Transfers and transactions up to ten years old may be scrutinized, unwound and recovered by a trustee, the bankruptcy court sitting in Massachusetts recently held in the NECCO (think chalky wafer candy) bankruptcy case. The ruling, in a case of first impression in Massachusetts, expands the reach back period from the typical four-year period for fraudulent transfer recovery, so long as the IRS is a creditor in the case. Bankruptcy Code § 544(b)(1) permits a debtor (or trustee) to avoid any transfer of an interest in a debtor’s property, or any obligation incurred by a debtor, that is voidable under “applicable law.” More on Massachusetts' Bankruptcy "Clawback" Rule Here >
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Failure to police the brand and allow a terminated franchisee to continue to use the brand can significantly weaken the brand ...This often leads to the franchisor filing a motion for a preliminary injunction to stop a franchisee from continuing to operate its business and infringe the franchisor’s trademarks.The elements of such a preliminary injunction were analyzed in an opinion recently published by the U.S. District Court for the Eastern District of Michigan involving Little Caesar Enterprises, Inc. and LC Trademarks, Inc. (collectively, “LCT”), the owner of the LITTLE CAESARS trademarks, Little Caesar Enterprises, Inc. v. Miramar Quick Service Restaurant Corporation, 2:18-cv-10767 (E.D. Mich. July 16, 2019).   More On Protecting A Franchise Brand, Insolvency and the Little Caesars Opinion Here >
A Dream Or A Nightmare? Who Pays In A World Without Student Loans?
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Anyone who hasn’t heard about the “student loan crisis” in the U.S. hasn’t been paying attention. U.S. student loan debt is estimated to range from between $1.2 and $1.6 trillion with more than seven million borrowers in default. On an individual level, a graduate of a four-year college who took out a loan to get through currently owes, on average, $28,000. Average debt for a student who completed graduate school, as you would expect, is greater, and can range from $50,000 to more than $100,000.  More on the Student Loan Crisis Here >
Perkins & Marie Callender Files for Chapter 11 Bankruptcy
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Perkins & Marie Callender’s LLC, filed for Chapter 11 bankruptcy this morning in Delaware under docket number 19-11743.
The Memphis, Tenn. family-dining chain previously filed in 2011. Prior to filing, the company operated more than 400 locations in the two brands, including 400 Perkins Restaurant & Bakery locations. More on Perkins & Marie Callender Bankruptcy Here >
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