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.

April 2024

Collection Costs Not Dischargeable

Tax Sale Foreclosure Undone


January 2024

Protection for Bankruptcy Sale Buyers

Bankruptcy Shell Game

October 2023

Trustee Recovers Tuition Payment

July 2023

Discharge of Small Business Debts

Employer Mandate not Penalty

April 2023

Sanctions for Violating Chapter 11 Plan

January 2023

Trustee No Better Than Debtor

Easier Stay Relief

October 2022

Unscheduled Malpractice Claim

No Priority for FLSA Claim

July 2022

Bankruptcy Stops Environmental Suit

April 2022

Lack of Business Trust

Creditor Cannot Use Involuntary Bankruptcy as Collection Tool

January 2022

Insurance Proceeds in Bankruptcy

HUD Grabs Tax Refund

October 2021

Arbitration in a Bankruptcy Case

Exemption for Property in Trust

July 2021

Effect of the Automatic Stay on Repossessed Collateral

Bankruptcy Limit on Charging Orders

April 2021

No Accounting for Debt

Creditor Collects from Retirement Account

Assignee of Lender is a Lender

January 2021

Proof of Claim as FDCPA Violation

Dispute Prevents Involuntary Case

Default Interest Not a Penalty

October 2020

IRS Setoff Trumps Bankruptcy Exemption

Paved with Good Intentions

Petitioning Creditors Sanctioned

July 2020

Discharge of Unknown Claims

Tuition as Fraudulent Transfer

Get It in Writing, Again

April 2020

Lis Pendens as a Preference

Stay Does Not Require Collateral Return

Marijuana Busts Chapter 11 Case

January 2020

IRA Loses Exempt Status

Loan Modification Pitfall for Lender

State Court Cannot Prevent Bankruptcy

October 2019

Maryland Commercial Receivership Act

July 2019

How Do You Deal with Rejection?

Lender's Attorneys' Fees Allowed

Partnership Agreement Blocks Pledge

April 2019

Overspending Fails to Evade Taxes

Disclaimer of Inheritance Not a Transfer

Tax Sale Reversed as Fraudulent Transfer

January 2019

Bank Defeated by Late Filing

Tax Claim Trumps Entireties Exemption

Claim Follows Embezzled Funds

October 2018

Not Paid Until the Check Clears

Mere Threat Violates Stay

Bankruptcy Filing Freezes Creditor Rights

July 2018

Get It in Writing

Forfeited LLC as Involuntary Petitioner

What Is Non-Consumer Debt?

April 2018

Bankruptcy Sale Strips Lease

Discharge Denied for Undervaluing Asset

Dumping Property Costs on Lender

January 2018

U.S. Collects Disclaimed Inheritance

Guarantee Not Discharged

No Priority for Sale to Cooperative

October 2017

Failure to Inform as Fraud

Affirmative Act Required to Violate Stay

Bankruptcy Sale Cleans Toxic Assets

July 2017

Structured Settlement Rejected

Filing Time-Barred Claims Permitted

Subordination of Stock Buyout Debt

April 2017

New Corporation Liable as Successor

No Cap on Exempt Assets

Preference Recovery Voids Release

January 2017

Time-Barred Claim not FDCPA Violation

Tenancy by Entireties Survives Death

Non-Compete Survives Bankruptcy

October 2016

Dispute Disqualifies Creditor

Indirect Stay Violation

Friendly Foreclosure Backfires

July 2016

Fraud Without Misrepresentation

Entireties Property Not Exempt

Blocking Member Fails

April 2016

PACA Loss of Trust

Trademark Not Intellectual Property

Lien’s Labour’s Lost

January 2016

Garnishing Joint Bank Accounts

Tax Lien Extinguished

Severance Payment Retained

October 2015

Fraudulent Silence

Late-Filed Tax Return Dischargeable

Individual Chapter 11 Debtor Loses Assets

July 2015

Filing Error Terminates Perfection

Withdrawn LLC Member Subordinated

Shareholders Meeting Not Stayed

April 2015

No Discharge for Late-Filed Tax Return

Protection for Foreign Banks

Unreasonably Small Capital

January 2015

Release of Non-Bankrupt Parties

Proof of Claim Violates FDCPA

Exemption Follows Funds

October 2014

Taxes from Late-Filed Return Discharged

Third-Party Payment Defeats Preference

Inaction Violates Automatic Stay

July 2014

Inherited IRA Not Exempt

Administrative Rent

Discharge of Imputed Fraud

April 2014

Family Trust Sidesteps Discharge

"New Value" Does Double Duty

Ponzi Profits Disgorged

January 2014

Chapter 11 Lien Stripping

Proceeds of Collateral

Tracing Trust Funds

October 2013

After-Recorded Mortgage Beats IRS Lien

Noncompete Agreement Lacks Value

Tax Filing Status is not Estate Property

July 2013

What Is Defalcation?

Sale of Collateral Defective

Food Fight

April 2013

Stock Sale Protected

Less Protection for LLC’s

January 2013

Modification Releases Guarantor

Sanctions against Petitioning Creditors

Changing Life Insurance Beneficiary

October 2012

Assumption of Breached Contract

Late-Filed Tax Return Insufficient

Preference Defense

July 2012

Bankruptcy Sale Cleans Assets

Tax Filing Status is Estate Property

Costly Mistake

April 2012

Hidden Benefit of Ponzi Scheme

Borrowing from Peter to Pay Paul

No Triangular Setoff

January 2012

President Can’t Stiff his Company

Employees Get Severance Pay

No Protection Against Preferences

October 2011

“Business Trust” May File Petition

Limiting IRS Tax Lien

Attorney Inaction Punished

July 2011

Loan Not in Good Faith

Lapsed Corporate Charter Bars Discharge

Lease Assumption Deadline Enlarged

April 2011

Silence Is Not So Golden

Trust but Verify

Scammed Trustee Discharged

January 2011

Stock Appreciation Rights Lost

Bank Loses Right to Credit Bid

Breach of Contract Not Discharged

October 2010

20-Day Priority

Trust Protects Assets

Termination Bonus Not Insider Preference

July 2010

Payment to Subcontractor Recovered

Contract Breach Not Discharged

Bankruptcy to Prevent Successor Liability

April 2010

Food Fight

Assisting a Fraudulent Transfer

Discharging Tax Debts

January 2010

Stay Trumps Free Speech

Priority for 20-Day Claims

Attorney Opinion Letter Stops Suit

October 2009

Bank Laxity Mitigates Borrower Fraud

Bankruptcy Extends Option Period

Creditor Must Return Collateral

July 2009

Trustee Action Limited

Waiver of NOL Carryback Reversed

No Pension Fund Set Off

April 2009

When is a Lease Really a Sale?

No Duty to File Bankruptcy Petition

Creditor Acts for Trustee

January 2009

Receiver’s Powers Limited

Preferential Lease Termination

Debt Collection as Racketeering

October 2008

Underfunded 401(k) Prevents Discharge

No Harm, No Foul

Previously Reported Case Reversed

July 2008

Guaranty Not Discharged

Backdoor Corporate Takeover

Joint Check Defeats Preference

April 2008

Get the Name Right

Stock Redemption Payments Retained

Forfeited Charter Stops Lawsuit

January 2008

Pension Rules Prevent Setoff

Tenancy by the Entirety Protection Lost

Bank Claim Waives Arbitration

October 2007

Reporting Discharged Debt

Employee Claim Not Capped

July 2007

Mortgage Void as Preference

Creditor Loses Interest

Rent Capped

April 2007

No Bankruptcy Stay for Subsidiary

Cybersquatting Punished

Receiver Displaced

January 2007

Bankruptcy Trumps Restrictive Covenant

What’s in a Name

Owner Pays Corporation’s Taxes

October 2006

Suit for Deepening Insolvency

Broad Bankruptcy Release

Letter of Credit outside Bankruptcy

July 2006

Asset Purchaser Protected

Delayed Response Loses Vote

Reach of Automatic Stay

April 2006

States May Be Sued

Specific Performance Not Rejected

Spendthrift Trust Trumps Bankruptcy

January 2006

Tax Refund Not Exempt

Credit Counseling for Business

October 2005

Bankruptcy Reform Arrives

July 2005

New Day Dawns October 17, 2005

April 2005

Pension Benefits Lost

Bank Setoff Avoided

January 2005

Escrow Remains Outside Bankruptcy

Preference Defense Succeeds

Creditor Enforces Automatic Stay

October 2004

Landlord Damages Capped

Piercing a Trust

Failure to Investigate Punished

July 2004

Tax Assessment Timely

Lease Assignment Denied

Plan Silence Defeats Lawsuit

April 2004

Late Filed Tax Return Ignored

Bonded Payment Not Preference

Reclamation Rights Preserved

January 2004

Landlord Returns Rent Payment

Tax Penalty Discharged

Rent Claim Capped

October 2003

No Bank Lien on Rabbi Trust

Improper Tax Payment Not Recovered

July 2003

Bankruptcy Sale Extinguishes Lease

Insider Loans Not Subordinated

Withdrawal of Claim Unsuccessful

April 2003

Fraud Not Discharged

Creditor Sanctioned for Tardy Dismissal

Right of First Refusal Eliminated

January 2003

Tax Lien Beats Creditor Setoff

Bad Marketing Saves Guarantor

Unmatured Interest Denied

October 2002

Corporate Officers Liable

Bankruptcy Beats Good Faith Defense

July 2002

Perfection of Future Security Interest

Filed Claim Traps Creditor

April 2002

No Stiffing Uncle Sam

Fraud Discharged

Escrow Funds Outside Bankruptcy

January 2002

Rare Landlord Victory

Security Interest in Patent Perfected

October 2001

Stealth Lien Removal

Faulty Escrow Exposes Funds

Empty Reclamation Rights

July 2001

Mortgage Prepayment Thwarts Creditors

Setoff Trumps Lien

No Discharge for Partner’s Fraud

April 2001

Diversion of Construction Trust Funds

Future Rent Capped

Non-Competition Clause Survives

January 2001

Stealth Lien Removed

Notice of Lien Insufficient

Embezzlement Not Discharged

October 2000

Abandonment of Hazardous Waste

Kid Sister Escapes IRS

Attorney/Client Privilege Lost

August 2000

Indemnification Discharged

After-Acquired Property Clause Enforced

June 2000

Bank Avoids Collateral Preservation Cost

Trust Fund Taxes Paid First

April 2000

No WARN Act Liability

Director Liability for Officer’s Acts

Restrictive Covenant Enforced

February 2000

Bankruptcy Trustee Owned Successor Liability Claim

How soon is “Prompt”?

Collateral Returned to Borrower

December 1999

Tax Lien Reaches Trust

Claim Against Guarantor Limited

Insurance Agent Keeps Commission

October 1999

No Tax Relief for Developer

A Lien without a Loan

Partnership Law Trumps Bankruptcy

August 1999

Earmarking Doctrine Inapplicable

Bankruptcy Cuts Off IRS Lien

Security Interest Defeated

June 1999

Bank Thwarts Real Estate Developer

April 1999

Landlord Gets Attorney’s Fees

Financing Statement Inadequate

Subchapter S Election Reversed

February 1999

Bank Leaves Surety Empty Handed

Title Insurer Punished

No Discharge for Contractor

December 1998

Subcontractor Trumps Bank

One Hand Gives, the Other Hand Takes

You Can Always Pay the Bank

October 1998

Standby Letter of Credit Creates Preference

August 1998

Guaranty to Bank Voided

No GOB Sale in Bankruptcy

June 1998

Judgment Creditor Beats Tax Lien

Tax Planning for Bankruptcy Reversed

April 1998

Treble Damages Not Discharged

Late Payment Is Ordinary

Post-Bankruptcy Rent Reduced

February 1998

When Stay Means Move

Enforcement of Stay Waivers

December 1997

Security Interest in Software Unperfected

Employee Termination Improper

Guarantor’s Liability for Rent Capped

October 1997

Payment of Real Property Transfer Tax Excused

No Chapter 11 for Partnership

August 1997

What’s it Worth to You?

No Cap on Post-Bankruptcy Lease

Doctor’s Goodwill Valued

June 1997

IRS Trumps Secured Lender

Withdrawal Liability Discharged

Bankrupt Pays Full Rent

April 1997

What is a Loan Commitment Worth?

Creditor Recovers Attorney’s Fees

Discharging Tax Debt

February 1997

Assets Freed from Pension Liability

Guarantor Pays First

Court Stops Abuse

December 1996

Dangerous Dunning Letter

Employee Withholding Unpaid

Member Bankruptcy Dissolves Limited Partnership

October 1996

Creditors Get Non-Compete Payments

IRS Errors Preclude Collection

Disclosure of Bankruptcy Required

August 1996

Tax Penalties Subordinated?

Retention of Preferential Payments

June 1996

Foreclosure Fails to Launder Assets

Payments to Partners Escape Bank

April 1996

Non-Compete Covenant Survives Bankruptcy

Bank Can Recover Attorney’s Retainer

Bad Debt Deduction Disallowed

Website of James C. Olson, Attorney and Counselor at Law, 10451 Mill Run Circle, Suite 400, Owings Mills, MD 21117, (410) 356-8852,, © 2012 all rights reserved.

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