The Maryland Court of Special Appeals recently held in Lowery v. Hoang, __ A.3d __, 2019 WL 965557 (Md. Spec. Ct. App., February 27, 2019) that creditors of debtors whose bankruptcies are dismissed or denied a discharge are entitled to the tolling provisions provided for in Md. Code Cts. & Jud. Proc. §5-202. That section…

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True to their name, Opportunity Zones are creating exciting and emerging investment opportunities for those clients who wish to minimize capital gains taxes. The Tax Cuts and Jobs Act that went into effect on December 22, 2017, allows deferrals on payment of taxes on capital gains, so long as the gains were invested in a…

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YVSM’s Corinne Donohue Adams published an article in the American Bankruptcy Institute Journal entitled “Stopped Payments as Avoidable Unauthorized Post-Petition Transfers.” The article focuses on when liability lies for transfers or transactions under section 549 of the Bankruptcy Code. The article specifically considers In re Essex Constr. LLC, 575 B.R. 648 (Bankr. D. Md. 2017), where…

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YVSM successfully confirmed the Chapter 11 plan of reorganization for the Council of Unit Owners of the 100 Harborview Drive Condominium (“Harborview”) on April 10, 2018, after a four-day contested hearing before the Honorable Michelle M. Harner, U.S. Bankruptcy Judge for the District of Maryland. Both Harborview and its senior secured lender, Howard Bank, proposed…

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A limited liability company (“LLC”) is a popular business structure for new businesses. LLCs are formed in accordance with state law and have the benefit of providing limited liability protection for its members while being taxed as a partnership or a corporation if an election is made. The exact rules for setting up an LLC…

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Corinne Donohue Adams will speak at the ABI Mid-Atlantic conference on “Consumer and UST Issues: Bankruptcy Billing, Bundling and the Upright Decision” on August 3, 2018.             Lisa Yonka Stevens presented on the topic “Issues Arising in Cases Filed by LLCs or Their Members” at the Bankruptcy Bar Association for the…

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