Georgia Bankruptcy Blog

Georgia Bankruptcy Blog

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Lawsuits Being Flying Against Officers, Directors, Insiders And Professionals Of Failed Banks

The State of Georgia is among the national leaders in banks closed by state and federal agencies.  So far in 2011, six Georgia banks have been closed, with the latest two being Habersham Bank and Citizens Bank of Effingham.  Since late 2008, when the banking crisis hit, a total of fifty seven Georgia banks have… Continue Reading

The Emergency in Haiti: Can You Help?

I rarely go off-topic in this Blog, and have not used it to promote personal causes, but I am compelled to add this note about Haiti.  I just returned this past Thursday from my second trip to Haiti this year. Most of the trip was spent in the community of Bohoc, Haiti which is about… Continue Reading

Atlanta Bar Bankruptcy Section Meet & Greet Happy Hour

 Wednesday, October 6, 2010 – 5:30 pm  Meet and greet Judge Wendy Hageanu, recently appointed Bankruptcy Judge for N.D. GA. and toast the 5th anniversary of surviving BAPCPA. Location: No Mas! Cantina 180 Walker Street Atlanta, GA 30313 404.574.5678 Cost: Section Member –  $10 Non-Section Member – $20 FREE for non-members who join the Bankruptcy… Continue Reading

Southeastern Bankruptcy Law Seminar 2010

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Individual Liability For Unpaid Federal Withholding Taxes

It is not uncommon for financially distressed businesses to get behind on payroll taxes, especially when the company does not have a payroll service that handles the payment of all taxes and automatically deducts the full amount from the company’s bank accounts.  Chapter 11 cases often have significant unpaid payroll taxes scheduled as a priority… Continue Reading

Georgia Personal Bankruptcies Rise In 2009

Carrie Teegardin of the Atlanta Journal published a story yesterday about the rising rate of personal bankruptcy cases in Georgia for 2009.  Click here for the story.  It certainly is not a surprise that the numbers are rising, given the significant drop-off after the 2005 amendments and the general state of the economy.  According to… Continue Reading

Three More Georgia Banks Fail

Yesterday, Friday December 4, 2009, three more Georgia Banks failed.  This makes a total of 24 failed banks in Georgia for 2009, and 29 failures since August 2008.  The latest victims are: 1.  Buckhead Community Bank was seized and sold by the FDIC to State Bank & Trust. 2.  First Security National Bank of Norcross was… Continue Reading

When Are 529 Educational Funds Property Of The Bankruptcy Estate?

Section 529 Plans are tax advantaged savings plans intended to encourage saving for future college costs. There are two types of qualified tuition programs: a prepaid tuition plan or a college savings plan They are authorized under Section 529 of the Internal Revenue Code (26 U.S.C. § 529).  Click here for a basic summary of 529 Plans. Are… Continue Reading

Protecting IP Rights From A Licensor’s Bankruptcy

I was recently asked to look into a Chapter 11 case by a company that licensed software to the debtor company.  The client had a significant pre-petition debt, and was not being timely paid in the Chapter 11 even though the debtor (a very large technology company) continued to use the software.  Coincidentally, Bob Eisenbach… Continue Reading