There are approximately 600,000 new businesses formed each year in the United States.[1] ... Read More

            Chapter 11 debtors often have tax problems.  If a debtor has not paid the Internal Revenue Service or State of Michigan, it is unlikely to have paid its local... Read More

                These are unprecedented times.  The coronavirus outbreak has affected many businesses, but has... Read More

            A debtor can feel helpless after its secured loan matures and the bank demands payment.  For a business that cannot pay the bank’s demand, relief can be... Read More

Joseph K. Grekin, Jason L. Weiner, and Nicholas R. Marcus’s article ... Read More

According to the Michigan State Police’s 2018 Asset Forfeiture Report, there were 5,558 forfeitures in 2017 under the Public Health Code, MCL § 333.7521-333.7533 (the “Controlled... Read More

            Debtors can be overcome by a feeling of helplessness arising from the IRS’s unrelenting enforcement of seemingly insurmountable and still ever-increasing tax... Read More

Companies facing insolvency often “rob Peter to pay Paul.”  In these cases, pension and retirement contributions may get robbed. While we generally see this occur where the insolvent... Read More

            Can controlling directors and managing members get away with breaching their fiduciary duties to their companies and hanging onto control long enough for the... Read More

Courts appoint receivers to preserve and protect assets in dispute between parties. Courts can appoint a receiver upon a motion by a party,... Read More

Banks do not have to keep their promises to you or your clients, at least promises not in writing.  As if someone behind the teller counter needed encouragement, Michigan... Read More

In February 2015, Judge Gerber heard arguments regarding whether the “bankruptcy shield” – protecting GM from claims that arose prior to the 2009 Chapter 11 case – should continue to... Read More

As most of the public knows, General Motors is currently fighting to retain the “bankruptcy shield” granted to it in the 2009 Chapter 11 case to protect it from litigation related to the... Read More

Often, corporate by-laws, shareholder agreements, operating agreements and employment agreements contain provisions requiring a mandatory redemption or sale of an equity interest upon the occurrence of... Read More

In Michigan, if a husband and wife jointly own real estate, an unlimited amount of equity in it can be fully protected from the creditors of only one spouse.  This type of joint ownership is known as... Read More

Several matters recently assigned to Schafer and Weiner, PLLC through the Access to Bankruptcy Court[1] program emphasized... Read More

Although Michigan recently became a "right to work" state,[1] collective bargaining... Read More

When a business fails, the creditors’ quest for collectible assets sometimes turns from the empty coffers of the business to the pockets of any co-obligor principals, with homestead equity often being... Read More

The Michigan Court of Appeals issued an unpublished decision on October 24, 2013 in the case of Woodridge Hills Association v. Douglas Walter Williams and D.W. Williams, LLC that tells the classic... Read More