Teller, Levit & Silvertrust Blog

Latest from Teller, Levit & Silvertrust Blog

When a debtor files for bankruptcy, the court issues a notice to creditors informing them that the debtor has filed. It is important for creditors to respond properly and timely to this notice, and they will be required to file a proof of claim with the bankruptcy court. A proof of claim is a document filed by a creditor to make sure their claims are recognized, that they receive payment for those claims, and that they can be involved in the bankruptcy process. Every creditor must file a proof of claim, or they may risk not being paid during
Continue Reading What Creditors Need to Know About Proofs of Claim in Bankruptcy Cases

Surety bonds are an important part of the insurance landscape. These bonds are a form of financial guarantee that serve to protect a party from the financial losses associated with another party’s breach of contract. They provide a level of protection for both insurers and policyholders when disputes arise. As such, it is important for insurers to understand how surety bond claims work in order to protect their interests and those of their customers.
What Is a Surety Bond?
A surety bond is an agreement between three parties: the principal (the person or business seeking the bond), the obligee (the
Continue Reading What Insurers Need to Know About Surety Bond Claims

It is important for business owners to understand the legal issues that they may need to address when entering into contracts or enforcing the terms of contractual agreements. In some cases, a business may need to address tortious interference. When another party attempts to interfere with a company’s contractual agreements or commercial relationships, these issues may be addressed through commercial litigation. By understanding the principle of tortious interference, business owners can determine the actions they can take to protect themselves from potentially damaging situations.
What Is Tortious Interference? 
Tortious interference occurs when someone intentionally interferes with an existing contract
Continue Reading When Can Commercial Litigation Address Tortious Interference?

There are numerous situations where creditors or other companies may need to address a breach of contract through commercial litigation. A breach of contract occurs when one party fails to fulfill a contractual obligation, resulting in financial losses or other damages for the other party. If a contract has been breached, the non-breaching party may pursue litigation and seek compensation or other remedies from the breaching party. Creditors who need to address issues related to breach of contract will need to understand the remedies that may be available so that they can recoup the losses they have experienced due
Continue Reading What Types of Damages Are Available in Breach of Contract Cases?