James Olson prepares and distributes a quarterly newsletter, “Notes on Debtor/Creditor Relations”, in January, April, July and October.


If you would like to receive “Notes on Debtor/Creditor Relations” by email, click here, and send an email with your name, telephone number and email address.


The current newsletter can be read here. Archived newsletters from 1996 to the present can be viewed below.

Archives of "Notes on Debtor/Creditor Relations"

Discharge of Unknown Claims

Tuition as Fraudulent Transfer

Get It in Writing, Again

Lis Pendens as a Preference

Stay Does Not Require Collateral Return

Marijuana Busts Chapter 11 Case

IRA Loses Exempt Status

Loan Modification Pitfall for Lender

State Court Cannot Prevent Bankruptcy

Maryland Commercial Receivership Act

How Do You Deal with Rejection?

Lender's Attorneys' Fees Allowed

Partnership Agreement Blocks Pledge

Overspending Fails to Evade Taxes

Disclaimer of Inheritance Not a Transfer

Tax Sale Reversed as Fraudulent Transfer

Bank Defeated by Late Filing

Tax Claim Trumps Entireties Exemption

Claim Follows Embezzled Funds

Not Paid Until the Check Clears

Mere Threat Violates Stay

Bankruptcy Filing Freezes Creditor Rights

Get It in Writing

Forfeited LLC as Involuntary Petitioner

What Is Non-Consumer Debt?

Bankruptcy Sale Strips Lease

Discharge Denied for Undervaluing Asset

Dumping Property Costs on Lender

U.S. Collects Disclaimed Inheritance

Guarantee Not Discharged

No Priority for Sale to Cooperative

Failure to Inform as Fraud

Affirmative Act Required to Violate Stay

Bankruptcy Sale Cleans Toxic Assets

Structured Settlement Rejected

Filing Time-Barred Claims Permitted

Subordination of Stock Buyout Debt

New Corporation Liable as Successor

No Cap on Exempt Assets

Preference Recovery Voids Release

Time-Barred Claim not FDCPA Violation

Tenancy by Entireties Survives Death

Non-Compete Survives Bankruptcy

Dispute Disqualifies Creditor

Indirect Stay Violation

Friendly Foreclosure Backfires

Fraud Without Misrepresentation

Entireties Property Not Exempt

Blocking Member Fails

PACA Loss of Trust

Trademark Not Intellectual Property

Lien’s Labour’s Lost

Garnishing Joint Bank Accounts

Tax Lien Extinguished

Severance Payment Retained

Fraudulent Silence

Late-Filed Tax Return Dischargeable

Individual Chapter 11 Debtor Loses Assets

Filing Error Terminates Perfection

Withdrawn LLC Member Subordinated

Shareholders Meeting Not Stayed

No Discharge for Late-Filed Tax Return

Protection for Foreign Banks

Unreasonably Small Capital

Release of Non-Bankrupt Parties

Proof of Claim Violates FDCPA

Exemption Follows Funds

Taxes from Late-Filed Return Discharged

Third-Party Payment Defeats Preference

Inaction Violates Automatic Stay

Inherited IRA Not Exempt

Administrative Rent

Discharge of Imputed Fraud

Family Trust Sidesteps Discharge

"New Value" Does Double Duty

Ponzi Profits Disgorged

Chapter 11 Lien Stripping

Proceeds of Collateral

Tracing Trust Funds

After-Recorded Mortgage Beats IRS Lien

Noncompete Agreement Lacks Value

Tax Filing Status is not Estate Property

What Is Defalcation?

Sale of Collateral Defective

Food Fight

Stock Sale Protected

Less Protection for LLC’s

Modification Releases Guarantor

Sanctions against Petitioning Creditors

Changing Life Insurance Beneficiary

Assumption of Breached Contract

Late-Filed Tax Return Insufficient

Preference Defense

Bankruptcy Sale Cleans Assets

Tax Filing Status is Estate Property

Costly Mistake

Hidden Benefit of Ponzi Scheme

Borrowing from Peter to Pay Paul

No Triangular Setoff

President Can’t Stiff his Company

Employees Get Severance Pay

No Protection Against Preferences

“Business Trust” May File Petition

Limiting IRS Tax Lien

Attorney Inaction Punished

Loan Not in Good Faith

Lapsed Corporate Charter Bars Discharge

Lease Assumption Deadline Enlarged

Silence Is Not So Golden

Trust but Verify

Scammed Trustee Discharged

Stock Appreciation Rights Lost

Bank Loses Right to Credit Bid

Breach of Contract Not Discharged

20-Day Priority

Trust Protects Assets

Termination Bonus Not Insider Preference

Payment to Subcontractor Recovered

Contract Breach Not Discharged

Bankruptcy to Prevent Successor Liability

Food Fight

Assisting a Fraudulent Transfer

Discharging Tax Debts

Stay Trumps Free Speech

Priority for 20-Day Claims

Attorney Opinion Letter Stops Suit

Bank Laxity Mitigates Borrower Fraud

Bankruptcy Extends Option Period

Creditor Must Return Collateral

Trustee Action Limited

Waiver of NOL Carryback Reversed

No Pension Fund Set Off

When is a Lease Really a Sale?

No Duty to File Bankruptcy Petition

Creditor Acts for Trustee

Receiver’s Powers Limited

Preferential Lease Termination

Debt Collection as Racketeering

Underfunded 401(k) Prevents Discharge

No Harm, No Foul

Previously Reported Case Reversed

Guaranty Not Discharged

Backdoor Corporate Takeover

Joint Check Defeats Preference

Get the Name Right

Stock Redemption Payments Retained

Forfeited Charter Stops Lawsuit

Pension Rules Prevent Setoff

Tenancy by the Entirety Protection Lost

Bank Claim Waives Arbitration

Reporting Discharged Debt

Employee Claim Not Capped

Mortgage Void as Preference

Creditor Loses Interest

Rent Capped

No Bankruptcy Stay for Subsidiary

Cybersquatting Punished

Receiver Displaced

Bankruptcy Trumps Restrictive Covenant

What’s in a Name

Owner Pays Corporation’s Taxes

Suit for Deepening Insolvency

Broad Bankruptcy Release

Letter of Credit outside Bankruptcy

Asset Purchaser Protected

Delayed Response Loses Vote

Reach of Automatic Stay

States May Be Sued

Specific Performance Not Rejected

Spendthrift Trust Trumps Bankruptcy

Tax Refund Not Exempt

Credit Counseling for Business

Bankruptcy Reform Arrives

New Day Dawns October 17, 2005

Pension Benefits Lost

Bank Setoff Avoided

Escrow Remains Outside Bankruptcy

Preference Defense Succeeds

Creditor Enforces Automatic Stay

Landlord Damages Capped

Piercing a Trust

Failure to Investigate Punished

Tax Assessment Timely

Lease Assignment Denied

Plan Silence Defeats Lawsuit

Late Filed Tax Return Ignored

Bonded Payment Not Preference

Reclamation Rights Preserved

Landlord Returns Rent Payment

Tax Penalty Discharged

Rent Claim Capped

No Bank Lien on Rabbi Trust

Improper Tax Payment Not Recovered

Bankruptcy Sale Extinguishes Lease

Insider Loans Not Subordinated

Withdrawal of Claim Unsuccessful

Fraud Not Discharged

Creditor Sanctioned for Tardy Dismissal

Right of First Refusal Eliminated

Tax Lien Beats Creditor Setoff

Bad Marketing Saves Guarantor

Unmatured Interest Denied

Corporate Officers Liable

Bankruptcy Beats Good Faith Defense

Perfection of Future Security Interest

Filed Claim Traps Creditor

No Stiffing Uncle Sam

Fraud Discharged

Escrow Funds Outside Bankruptcy

Rare Landlord Victory

Security Interest in Patent Perfected

Stealth Lien Removal

Faulty Escrow Exposes Funds

Empty Reclamation Rights

Mortgage Prepayment Thwarts Creditors

Setoff Trumps Lien

No Discharge for Partner’s Fraud

Diversion of Construction Trust Funds

Future Rent Capped

Non-Competition Clause Survives

Stealth Lien Removed

Notice of Lien Insufficient

Embezzlement Not Discharged

Abandonment of Hazardous Waste

Kid Sister Escapes IRS

Attorney/Client Privilege Lost

Indemnification Discharged

After-Acquired Property Clause Enforced

Bank Avoids Collateral Preservation Cost

Trust Fund Taxes Paid First

No WARN Act Liability

Director Liability for Officer’s Acts

Restrictive Covenant Enforced

Bankruptcy Trustee Owned Successor Liability Claim

How soon is “Prompt”?

Collateral Returned to Borrower

Tax Lien Reaches Trust

Claim Against Guarantor Limited

Insurance Agent Keeps Commission

No Tax Relief for Developer

A Lien without a Loan

Partnership Law Trumps Bankruptcy

Earmarking Doctrine Inapplicable

Bankruptcy Cuts Off IRS Lien

Security Interest Defeated

Bank Thwarts Real Estate Developer

Landlord Gets Attorney’s Fees

Financing Statement Inadequate

Subchapter S Election Reversed

Bank Leaves Surety Empty Handed

Title Insurer Punished

No Discharge for Contractor

Subcontractor Trumps Bank

One Hand Gives, the Other Hand Takes

You Can Always Pay the Bank

Standby Letter of Credit Creates Preference

Guaranty to Bank Voided

No GOB Sale in Bankruptcy

Judgment Creditor Beats Tax Lien

Tax Planning for Bankruptcy Reversed

Treble Damages Not Discharged

Late Payment Is Ordinary

Post-Bankruptcy Rent Reduced

When Stay Means Move

Enforcement of Stay Waivers

Security Interest in Software Unperfected

Employee Termination Improper

Guarantor’s Liability for Rent Capped

Payment of Real Property Transfer Tax Excused

No Chapter 11 for Partnership

What’s it Worth to You?

No Cap on Post-Bankruptcy Lease

Doctor’s Goodwill Valued

IRS Trumps Secured Lender

Withdrawal Liability Discharged

Bankrupt Pays Full Rent

What is a Loan Commitment Worth?

Creditor Recovers Attorney’s Fees

Discharging Tax Debt

Assets Freed from Pension Liability

Guarantor Pays First

Court Stops Abuse

Dangerous Dunning Letter

Employee Withholding Unpaid

Member Bankruptcy Dissolves Limited Partnership

Creditors Get Non-Compete Payments

IRS Errors Preclude Collection

Disclosure of Bankruptcy Required

Tax Penalties Subordinated?

Retention of Preferential Payments

Foreclosure Fails to Launder Assets

Payments to Partners Escape Bank

Non-Compete Covenant Survives Bankruptcy

Bank Can Recover Attorney’s Retainer

Bad Debt Deduction Disallowed