Teresa and Joe Giudice of The Real Housewives of New Jersey fame were recently sentenced to 15 and 41 months respectively for bankruptcy, wire and mail fraud. The allegations against them involved the concealment of assets from the bankruptcy court in an effort to evade creditors. The indictment alleged, among other things, that they:

These attempts failed spectacularly, followed by criminal charges and an eventual plea deal resulting in the lengthy jail sentences. Although theirs was a criminal case, it demonstrates how complex bankruptcy law can be to the uninitiated, requiring counsel to pay careful attention both when representing debtors and creditors in bankruptcy. Practical Law's resources can help practitioners understand the fundamentals of bankruptcy practice.

Some of the most complex commercial litigation matters are now being dealt with in bankruptcy court. Although bankruptcy litigation and general civil litigation may appear similar, there are many important differences. For a basic framework for commercial litigators and other attorneys who do not have extensive experience in bankruptcy litigation, see Practice Note, Bankruptcy Basics: What Commercial Litigators Need to Know.

For practitioners faced with preference and fraudulent transfer actions, Practical Law's Practice Note, Bankruptcy Litigation: Preferences and Fraudulent Transfers can help. In addition to an overview of adversary proceedings, this Note explains preference and fraudulent transfer claims, providing practitioners with information necessary to understand and litigate these actions.