Keep that in mind as we read through future FDCPA opinions that consider state law creditor-debtor issues.
Governor Deal apparently saw through this legislation, and gave it the thumbs-dow so that there could be a robust debate about the creditor-debtor issues should the proponents of HB 441 decide to re-submit it.
Very simply, if you are attempting to guide clients as to creditor-debtor issues without a very healthy of understanding of the fraudulent transfer laws, you're doing so blindfolded.
In many respects the new bankruptcy act inadequately reflects bankruptcy law's existence as part of a legal structure that includes many other federal laws, a Constitution, and detailed treatment of debtor-creditor issues by over fifty jurisdictions.
For instance, a procedure that allowed a defaulting sovereign debtor to issue new bonds would, Mr Shleifer argues, remove the most powerful deterrent to default, lack of access to foreign capital.The IMF replies that its proposal at least in the latest of its several incarnations does not weaken creditors' rights.
At Florence, for example, where from 1345 state debtors were issued securities at 5 percent interest, negotiable in the open market, revenues rose from around 130,000 florins in the 1320s to more than 400,000 florins in the 1360s.
But for the dogged determination of the United States Trustee's office and debtors' counsel, these issues would not come to light and countless debtors would suffer".
The tests found that seven of the region's 91 largest banks needed to raise more capital to withstand an unexpected decline in economic growth or a sharp deterioration in the perceived safety of government bonds issued by debtor nations like Greece, Portugal and Spain.
This decision of the Colorado Supreme Court runs against the grain of other opinions which have held that a charging order can be issued a debtor that is within the jurisdiction of the court of original judgment, such as I wrote about in my article, Mahalo To Charging Order Issued Against Interests In Out-Of-State Non-Party LLCs.
The judge made a preliminary ruling in the debtors' favor — he issued an injunction banning the city from "collecting or attempting to collect all outstanding fines, fees, costs, surcharges, or the outstanding balance of any monies owed to the City or to Judicial Correction Services, Inc. ('JCS') associated with traffic tickets".
