I do not speak for the boss man but I think the only exception to this rule
is if it's for personal services.
Ex. If Kim Kardashian is given King's tickets (because kings think
her presence will benefit the franchise) then those tickets cannot be sold.
In the Kardashian scenario, I personally would (again, I do not speak for
David) still list those tickets as an asset and list the value at $0
because they have no resale value.
Sincerely,
Michael Avanesian
On Thu, Jul 10, 2014 at 4:24 PM, 'Hale Andrew Antico'
bk.lawyer@gmail.com
[cdcbaa] wrote:
>
>
> David, re nontransferability, would you use the same analysis for say,
> season tickets of the world-champion Kings?
>
> ------------------------------
> *From:*
cdcbaa@yahoogroups.com [mailto:
cdcbaa@yahoogroups.com]
> *Sent:* Thursday, July 10, 2014 3:43 PM
> *To:*
cdcbaa@yahoogroups.com
> *Subject:* [cdcbaa] RE: Canceling already purchased tickets using
> frequent flyer miles
>
>
>
> Steve:
>
> Not sure I agree with your premise. I think the ticket is property of
> the estate (541(c)(1)(A)) notwithstanding the restrictions on
> transferability.
>
> Not sure that those transferability restrictions would apply in a
> bankruptcy setting. Yes, I know the Code says enforce such restrictions
> that are in the agreement, but I dont know what the agreement actually
> says about a bankruptcy situation (or where the ticketholder dies before
> the flight date). This may be particularly important if the debtor finds
> some creative way to use the non-refundable tickets to advance a fraudulent
> transfer.
>
> *David A. Tilem*
>
> Law Offices of David A. Tilem
>
> 206 N. Jackson St., #201
>
> Glendale, CA 91206
>
> Tel: 818-507-6000 * Fax: 818-507-6800
>
>
www.TilemLaw.com
>
> [image: Description:
http://www.tilemlaw.com/images/cblsLogo.gif]
>
> *From:*
cdcbaa@yahoogroups.com [mailto:
cdcbaa@yahoogroups.com]
> *Sent:* Thursday, July 10, 2014 12:56 PM
> *To:*
cdcbaa@yahoogroups.com
> *Subject:* [cdcbaa] Canceling already purchased tickets using frequent
> flyer miles
>
>
>
> I have a client who bought airline tickets using frequent flyer miles for
> use after we file the Chapter 7 case.
>
> I know its not an asset of the case as it is not transferable.
>
> QUESTION: Has anyone ever had a client with a ticket purchased with
> frequent flyer miles canceled on them after they filed a case?
>
> I think its a long shot, but thought Id ask.
>
> Law Offices of Steven B. Lever
>
> >
>
> > Steven B. Lever
>
> >( Tel. (562) 436-5456 ext. 1
>
> >( Fax (562) 485-6886
>
> >*
sblever@leverlaw.com
>
> >
www.leverlaw.com
>
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>
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>
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I do not speak for the boss man but I think the only exception to this rule is if it's for personal services.Ex. If Kim Kardashian is given King's tickets (because kings think herd. In the Kardashian scenario, I personally would (again, I do not speak for David) still list those tickets as an asset and list the value at $0 because they have no resale value.
Sincerely, Michael AvanesianOn Thu, Jul 10, 2014 at 4:24 PM, 'Hale Andrew Antico'
bk.lawyer@gmail.com [cdcbaa] <
cdcbaa@yahoogroups.com> wrote:
David,
re nontransferability, would you use the same analysis for say, season tickets
of the world-champion Kings?
From:
cdcbaa@yahoogroups.com
[mailto:
cdcbaa@yahoogroups.com] Sent: Thursday, July 10, 2014 3:43
PMTo:
cdcbaa@yahoogroups.comSubject: [cdcbaa] RE:
Canceling already purchased tickets using frequent flyer
miles
Steve:
Not sure I
agree with your premise. I think the ticket is property of the estate(541(c)(1)(A)) notwithstanding the restrictions on transferability.
Not sure that
those transferability restrictions would apply in a bankruptcy setting.Yes, I know the Code says enforce such restrictions that are in the agreement,
but I dont know what the agreement actually says about a bankruptcy situation
(or where the ticketholder dies before the flight date). This may beparticularly important if the debtor finds some creative way to use the
non-refundable tickets to advance a fraudulent transfer.
The post was migrated from Yahoo.
