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A pro se consumer had managed to get a 3-judge panel of the Court of Appeals to reverse (in a 2-1 decision) lower court rulings finding that PRA had established its standing to sue and its ownership of the debtors account in the underlying collection action, and judgment in its favor on the debt.
The debt purchaser in In re McIntosh argued that because it was enforcing a debt that was not listed correctly on the debtor’sbankruptcy schedules, it was entitled to assume the debt had not been discharged. As background, in 2002, the debtor and her then-spouse jointly filed a “no asset” Chapter 7 bankruptcy petition.
The Bankruptcy Code enables a trustee to set aside certain transfers made by debtors before bankruptcy. In 2008, Greektown Casino, Holdings, and other related entities filed for bankruptcy. The court thus granted the motion for summary judgment. See 11 U.S.C. §§ §§ 544, 547, 548.
The Bankruptcy Code provides debtors with a fresh start or an opportunity to reorganize their debts. In doing so, the Code requires all debtors to provide, under oath, a full disclosure of their assets and liabilities. Such property includes causes of action belonging to the debtor at the commencement of the bankruptcy case.
A construction project to a screeching halt when a property owner files for bankruptcy, creating a serious risk of substantial losses for the contractor, as well as subcontractors and suppliers. What Happens When a Property Owner Files for Bankruptcy? The Impact of Bankruptcy on the Construction Contract. See 11 U.S.C. §
Filing for Chapter 7 or Chapter 13 Bankruptcy: Chapter 7 will wipe out (discharge) your medical debt along with other unsecured debt, but you must have low enough income to pass the means test in order to qualify for it. Chapter 13 bankruptcy is discussed below. Ten facts About Chapter 13 Bankruptcy and Medical Bills: #1.
We have blogged previously about section 546(e) , the Bankruptcy Code’s safe harbor for certain transfers otherwise subject to avoidance as preferences or fraudulent transfers. In both cases, the “agreements or transactions” must be “with the debtor or any other entity.” See 11 U.S.C. § § 546(e).
Are you or your collection attorney attempting debt collection efforts even though the debtor filed for bankruptcy? If so your collection attorney is exposing you, the law firm, and themselves to personal liability for a money judgment that could far exceed your claim. The debtor did not pay. Violating an Automatic Stay.
In a unanimous decision, the Supreme Court held that § 523(a)(2)(A) of the Bankruptcy Code precludes a debtor from discharging a debt obtained by fraud, regardless of the debtor’s own culpability. As background, in 2005, the debtor and her then-boyfriend jointly purchased a house in San Francisco. In Bartenwerfer v.
Cuker Interactive, LLC filed a Chapter 11 bankruptcy petition on December 13, 2018, in the United States Bankruptcy Court for the Southern District of California. 1998), wherein a Bankruptcy Appellate Panel likewise held that solvent debtors must pay postpetition interest to unsecured creditors at the federal judgment rate. [8]
Skip tracing, employment and asset tracking, locating real and personal property, investigating liens, judgments, and corporate filings with the local Secretary of State, are but a few of the methods used to recover your receivables. All that being said, in Puerto Rico interest is allowed on money judgments, at a rate of 6%.
“[E]nsnared between his involvement in a business that is legal under the laws of Arizona but illegal under federal law,” one debtor’s chapter 13 petition was recently dismissed due to his undisputed violations of the Controlled Substances Act. Bankruptcy Court for the District of Arizona. LEXIS 256 (D. LEXIS 256 (D.
It’s rare for a debtor in bankruptcy to raise allegations of involuntary servitude and a violation of the Thirteenth Amendment. But one debtor did just that after a chapter 11 trustee was appointed to take over the debtor’s bankruptcy estate. The case involves an unusual claim. Laidlaw Envtl.
It is extremely frustrating to discover that your debtor owes other people a lot of money. If your debtor hasn’t declared bankruptcy, there are several ways we can use to try to get you paid, even if you don’t have collateral or a court judgment yet. This helps to prevent your debtor from hiding the bacon.
American Bankruptcy Institute Law Review Staff. In In re Brinskele , a bankruptcy court in California held that a judgment lien against Edward A. 3] The Spouse unsuccessfully sued for a refund and the Court of Federal Claims granted the United States’ cross motion for a judgment of $1,514,140.14 on May 30, 2002. [3]
Are you considering bankruptcy? Bankruptcy is a challenging, life-altering experience. . If you are considering consulting with an attorney about your debt-relief options, it is essential to remember that each type of bankruptcy comes with its advantages and disadvantages. . Advantages of Chapter 7 Bankruptcy.
The plaintiff, who initially alleged multiple violations of the bankruptcy provisions of the FDCPA, saw her case gradually dismantled until only the FDCPA claim remained. The court’s final ruling marked the end of the plaintiff’s legal battle, leaving the FDCPA claim dismissed without prejudice. More details here.
United States Bankruptcy Judge Harlin Hale recently dismissed the National Rifle Association’s Chapter 11 petition as not filed in good faith. On January 7, 2021, the NRA petitioned for Chapter 11 bankruptcy in the Northern District of Texas (the “Petition”). & Sea Girt LLC, Debtors. , ” Id.
When deciding the amount of homestead exemption to which a debtor is entitled, should a bankruptcy court apply the state exemption in effect on the creation date of the lien or on the bankruptcy filing date? The debtor filed for bankruptcy protection in 2021. In Barclay v. recorded against his home.
Declare Bankruptcy. If you can’t amicably negotiate debt restructuring with your creditors, Chapter 11 bankruptcy is an option. Companies need to have some working capital before filing in order to survive the bankruptcy process during which the court determines how much creditors will receive.
A bankruptcy can help you get your license reinstated right away. Generally, “no new license shall be issued to such person unless and until such judgment is satisfied or vacated or execution therein stayed and proof of financial responsibility given.” the bankruptcy eliminates the requirement that you pay off the debt.
With the help of an experienced collections attorney, serving legal papers on a debtor can be the first step to collecting the money you’re owed. Process service is often the first step in notifying a debtor that a legal action has been filed in court. Provides Legal Confirmation That a Debtor Received Notice of a Lawsuit.
Find Out the 10 Common Questions About Bankruptcy with Colorado Bankruptcy Lawyers. The decision to file for bankruptcy is a significant one, and we are here to assist you in determining whether bankruptcy is the best course of action for your circumstances. Do bankruptcies come in different types?
On January 19, the United States Bankruptcy Court for the Western District of Virginia entered an order sanctioning a collections law firm for violating the bankruptcy discharge injunction. Gooch ( In re Skaggs ) awarded the debtor $25,000 in attorneys’ fees based on a letter he received concerning a discharged debt. Gooch, P.C.,
Shortly after you file for Chapter 7 or Chapter 13 bankruptcy, you will receive a notice for your section 341 meeting of creditors. It’s an essential part of the bankruptcy process that usually takes place at the Federal courthouse, but currently is done over the phone or via a Zoom chat due to the pandemic.
This post originally appeared in Norton Journal of Bankruptcy Law and Practice. Bankruptcy court approval is required when a debtor wants to sell property outside the ordinary course of its business. ect a debtor’s informed business judgment. Courts will allow transactions that re?ect cers’ ?duciary
21-908, a Supreme Court case concerning the scope of the fraud exception to the dischargeability of debts in bankruptcy. Section 523 of the Bankruptcy Code exempts from discharge “any debt. Bartenwerfer considers whether the fraud required by this section need be the debtor’s fraud or fraud known to the debtor.
Cheese’s parent), many prominent companies have filed for bankruptcy protection in recent months. Most practitioners with no real exposure to bankruptcy law may be aware of the general ramifications of bankruptcy proceedings. In re Edgeworth , 993 F.2d 2d 51,56 (5th Cir.
John’s University School of Law American Bankruptcy Institute Law Review Staff Section 1112(b) of title 11 of the United States Code (the “Bankruptcy Code”) provides that a chapter 11 case may only be dismissed for cause. [1] Daniella Sesto St. 4] Aearo sold these earplugs to the United States Military. 10] The U.S.
We act quickly to freeze assets so they will be available to pay a judgment There are many scenarios that could explain a debtor refusing to make good on a bad check. Luckily, they don’t all involve the debtor having no money or going into bankruptcy. At the Law Offices of Alan M. No funds in the bank account?
Med-1 Solutions LLC , an Indiana district court granted partial summary judgment for the defendant in a Fair Debt Collection Practices Act (FDCPA) case. At the time it received the notice of the plaintiff’s bankruptcy petition, the defendant did not have any active accounts for collection regarding the plaintiff. In Kinnick v.
Filing for bankruptcy can provide you with a much-needed second chance when it comes to your finances. However, the process of going through Chapter 7 can be complicated and stressful to ensure you can keep what you need to continue living your life even after bankruptcy. What is Chapter 7 Bankruptcy?
Enloe A First Circuit Bankruptcy Appellate Panel (the “Panel”) recently held that a mortgage company’s communications did not violate the discharge injunction when viewed under an objective standard and considering the facts and circumstances surrounding the communications. By Caren D. 21st Mortg. 427 (2019).
When a company files for bankruptcy and it owes you money, it means you have a “claim” in the debtor’sbankruptcy proceedings. If you’re owed money by a bankrupt debtor, you likely have to file a claim. The bankruptcy court will establish a deadline, or “bar date,” by which claims must be filed.
Debtors and trustees seeking to avoid the hardship of a foreclosure often attempt to employ sections 547 and 548 of the Bankruptcy Code. [1] 1] In accordance with the former section, a debtor may avoid any transfer of an interest in property “on or within 90 days before the date of the filing of the petition.”
Federal Rule of Bankruptcy Procedure 7004 governs service of process in adversary proceedings. In Ratliff , the debtors/plaintiffs had served the summons and complaint via certified mail. After the defendant failed to appear, the debtors/plaintiffs requested, and were granted, a clerk’s entry of default. 121, 122 (Bankr.
Bankruptcy Judge Karen B. Ruling on plaintiff-debtor Southland Royalty Company LLC’s motion for partial summary judgment, Judge Owens found that Halliburton did not obtain a lien on Southland’s production of oil, natural gas, or their proceeds. Perfect your liens on time or you may lose them. in her recent decision.
If you’re struggling with overwhelming debt, you may be wondering if bankruptcy is the right solution for your financial situation. One of the most common questions people have is “How Much Debt is Needed to File for Bankruptcy?” However, that doesn’t mean bankruptcy is the best option for everyone with debt.
The defendant owned an apartment building where the debtor was a tenant. The chapter 7 trustee sued the landlord, alleging the rent payments were avoidable as preferential transfers under Bankruptcy Code section 547. The defendant later moved for summary judgment, citing the ordinary course of business defense. 20-11873, Adv.
Picture this: an account becomes overdue and your in-house attorney files suit against the debtor. A judgment is awarded in your favor, but the debt still isn’t paid. You call Point Law and say “we have a judgment, so what do we do now? Unfortunately, even if you do sue and are awarded judgment, you aren’t done.
John's University School of Law American Bankruptcy Institute Law Review Staff Section 362 of title 11 of the United States Code (the “Bankruptcy Code”) provides that the filing of a bankruptcy petition results in an automatic stay generally enjoining all actions, including a foreclosure sale, against a debtor or its property. [1]
John's University School of Law American Bankruptcy Institute Law Review Staff In In re PG&E Corp. , the United States Court of Appeals for the Ninth Circuit held that solvent-debtors are required to pay unimpaired creditors their bargained for post-petition interest rate. [1] 1] In January 2019, PG&E Corp.
Picture this: an account becomes overdue and your in-house attorney files suit against the debtor. A judgment is awarded in your favor, but the debt still isn’t paid. You call Turbo Debt Recovery and say “we have a judgment, so what do we do now? Unfortunately, even if you do sue and are awarded judgment, you aren’t done.
John’s University School of Law American Bankruptcy Institute Law Review Staff In Ferrandino & Son, Inc. Sahene Construction L.L.C. ( In re Sahene Construction), the United States Bankruptcy Court for the District of Louisiana held that a non-debtor defendant was not entitled to protection of an automatic stay.
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