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What is Bankruptcy-Proofing Settlement Agreements about?

This document discusses how to structure litigation settlement agreements to protect against the defendant later filing for bankruptcy. It recommends: 1) Structuring payments to avoid them being considered a preference by the bankruptcy trustee, such as keeping each payment below $5,475 or having a third party be the payment source. 2) Requesting financial documents from the defendant demonstrating solvency to overcome the presumption of insolvency. 3) Including "springing provisions" that reinstate the or

Author

beluved2010

Language

EN