Tools-of-the-Trade Exemption Includes Digital Files as Documents

[...]with the rising cost of commercial chapter 11 cases (even for small businesses), practitioners should consider whether there are creative strategies to make a chapter 7 or 13 filing possible, such as conveying business assets to a principal subject to the business debt (to minimize fraudulent t...

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Bibliographic Details
Published in:American Bankruptcy Institute journal 2016-03, Vol.35 (3), p.18
Main Authors: Helman, Andrew C, Hull, Nathaniel R
Format: Article
Language:English
Subjects:
Bankruptcy
District courts
Federal court decisions
Federal courts
Hard disks
Photography
Social networks
State court decisions
Websites
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Summary:[...]with the rising cost of commercial chapter 11 cases (even for small businesses), practitioners should consider whether there are creative strategies to make a chapter 7 or 13 filing possible, such as conveying business assets to a principal subject to the business debt (to minimize fraudulent transfer claims). [...]as new and largely intangible forms of property emerge, are integrated into daily life and are ultimately employed by individuals in the pursuit of their livelihoods, practitioners, trustees and courts will continue to wrestle with the boundaries of exemption statutes that were drafted at a time that had a much different conception of "tools of the trade."
ISSN:1931-7522