Bitcoin in Bankruptcy: Commodity or Currency?

It is hard to peruse media outlets without hearing about bitcoin and other types of cryptocurrency. But what is Bitcoin?  Is it just another form of currency, or is it a commodity? It depends on who you ask, and bankruptcy courts are beginning to weigh in on the subject. Read More… “Bitcoin in Bankruptcy: Commodity or Currency?”

Mortgage Servicers Beware of Possible Sanctions in Chapter 13 Bankruptcies

Residential mortgage servicers should take notice.  A recent case from the U.S. Bankruptcy Court for the District of Vermont handed down what may be the first instance of punitive sanctions under Federal Bankruptcy Rule of Procedure 3002.1.  The Court levied a $375,000 sanction to a mortgage servicer for its failure to comply with Rule 3002.1’s notice requirements despite the court’s repeated instructions to do so.  This rule could spur similar cases for violations of Rule 3002.1, especially for repeat offenders. Read More… “Mortgage Servicers Beware of Possible Sanctions in Chapter 13 Bankruptcies”

For Wisconsin Businesses In Need of Capital “Crowdfunding” Is An Option

“Crowdfunding:” The practice of raising capital from a large number of individuals by accepting funding in small dollar amounts from each contributor.  Certainly the idea of crowdfunding has been around for ages, but with advances in technology crowdfunding has become a popular alternative way to fund a project or business venture, which can be especially helpful for small businesses.  Websites like Kickstarter and Indiegogo are online crowdfunding platforms for creative projects where investors can pledge money to make projects happen.  The drawback of such websites, however, is that the project creators keep 100% ownership of their work and the websites cannot be used to offer financial returns or equity in a company.  In order to actually offer financial returns or equity in a company, an offering by the company must comply with over 585 pages of applicable SEC rules, which can be cost prohibitive for many small businesses. Read More… “For Wisconsin Businesses In Need of Capital “Crowdfunding” Is An Option”