Jaburg Wilk Attorney, Lawrence Wilk, Named to America’s Top 100 Attorneys Lifetime Achievement
PHOENIX, Ariz. (August 23, 2018), Lawrence Wilk, business bankruptcy, financial fraud and real estate attorney and partner at the Phoenix law firm of Jaburg Wilk was selected to America’s Top 100® Lifetime Achievement for 2018. Selection is by invitation only and is reserved to identify the nation’s most exceptional attorneys whose accomplishment and impact on the legal … Read More
What Creditors Need to Know About Collecting Debt in State Court and Bankruptcy Court?
What do Creditors Need to Know about Litigation in State Court?
When proceeding in state court, or where a company hasn’t filed for bankruptcy protection, there can be many issues. It depends if the creditor has an unsecured debt, meaning there is no collateral, or if the debt is securing, meaning there is collateral. In either case, a creditor needs to have good documentation, good … Read More
Arizona Court of Appeals Decision Adds Confusion to the Interpretation of the Anti-Deficiency Statutes
In a decision issued on December 27, 2011, the Arizona Court of Appeals held that Arizona's anti-deficiency statute applies to debtors who purchase vacant land with the intent to reside on the property upon completion of construction of a home even if they do not complete construction or actually occupy the property.
In M&I Marshall & Ilsley Bank v. Mueller, 1 CA-CV 10-0804, the debtors purchased a … Read More
So I loaned my friend $25,000 and just found out he is going to file bankruptcy. Now what???
Because he is my friend, he offered to settle and pay me outside of the bankruptcy and he agreed to not include my debt in the bankruptcy case. Can I do this?
No. Once a bankruptcy case is filed an automatic stay goes into effect, whether or not you have actual notice of the bankruptcy filing, which prevents you from taking any action to collect your debt, including negotiating a settlement. If you engage in … Read More
Are there fiduciary duties between members in an Arizona LLC?
In 1992, the Arizona legislature enacted the Arizona Limited Liability Company Act. Since that time the LLC has become the entity of choice for many individuals, businesses, partners and investors. While there obviously are differences between corporations and LLCs, attorneys in Arizona have always believed that there were many similarities.
For instance, when you form a corporation Articles of Incorporation must … Read More