Professionals in Chapter 11 have to be “disinterested“; make sure they are also capable. You should read this post here if you are keen about taxes. In two recent cases, the estate has employed professionals connected to the debtor in his pre filing past. It’s often the case that accountants and tax preparers come with […]
What Keeps Me Busy
The number of new cases through my doors is down, just like it is everywhere. But I’m staying busy. Busier some days than I would like to be. I thought it might be fun to look at the change in the composition of my cases over the past two years. More complicated cases There […]
Bankruptcy Sales Free And Clear
Now that the real estate market in my area is improving, we are dusting off another of our little used skills to effect sales of property during a Chapter 13: the sale free and clear of liens. The ability to sell property subject to disputes and continue the fight over a bank account, rather than […]
Phantom Creditors In Bankruptcy
Don’t overlook in rem liability when scheduling creditors. These phantom creditors often waft through the lives of debtors. The client may not see them, but as debtor’s lawyers,we must pull those creditors into the light. Phantom creditors may have no claim against the debtor personally, but nonetheless, need to be scheduled. Liabilities of property In […]
Can You Tell A Lien From A Secured Claim?
The underwater second deed of trust was listed on Schedule F in the debtor’s prior Chapter 13 case as an unsecured claim. Functionally, the lien was without value. But, the debtor, now my client in a subsequent case, took a gentle tongue lashing from a bankruptcy judge about the classification of the claim on the […]
How To Insure The Judgment Isn’t Discharged In Bankruptcy
The settlement agreement, fully executed, provided explicitly that the obligation was not dischargeable in bankruptcy. So how come the successful resolution stood to go up in flames when the defendant filed bankruptcy? Because the terms of the settlement agreement didn’t track the elements of the bankruptcy code’s elements for non dischargeable debts. With agreed facts, […]
Married: Assorted Bankruptcy Exemption Issues
Our series on family law and bankruptcy continues with an exploration of a mixed bag of exemption and property-of-the-estate questions colored by the fact the debtor has been married. Non debtors claim exemptions Section 522(b) opens with a provision that the debtor may exempt from the property of the estate property described in the section […]
