Chapter 11

No one likes being in bankruptcy. In fact, one of the great attractions of chapter 7 is that most cases are relatively short and debtors are sent merrily on their way within a few months of filing. But for companies or individuals who...

It has been settled law in every circuit but one that wholly unsecured subordinate mortgages could not be stripped-off in chapter 7 cases. But since it only takes one heterodox circuit to create a split in the circuits, the US...

Single asset reality entities (SARE) are viewed with some suspicion in bankruptcy courts. Bankruptcy is supposed to serve one of two purposes: either it officiates the fair and equal distribution to creditors of what can be gained by selling off...

Small-business owners are routinely required to co-sign on loans obtained by their companies. That makes perfect sense from the lender’s perspective (after all, the more people responsible for a loan, the more likely it is that the loan will be...

The Supreme Court of the United States issued its opinion June 12, 2004 in Clark v. Rameker, No. 13-299. The important holding from the Court is that inherited individual retirement accounts are not “retirement funds” under the meaning of section 522(b)(3)(C) of the federal...

A recent opinion issued on June 6, 2014 from the Bankruptcy Court for the Eastern District of North Carolina found that a creditor had not violated the bankruptcy code based on the following facts: In March 2008 a creditor realized...

I know, I know, The Eagles are terrible. But the most famous line from their most famous song popped into my head yesterday while reading a recent opinion by Judge Humrickhouse in which she denied a debtor’s motion to have...

When an individual files a chapter 7 or chapter 13 case, they are referred to throughout the case as “the Debtor.” When a corporation or LLC files a chapter 7 case, the company, likewise, is called, “the Debtor.” But in...

Effective June 1, 2014, the court filing fees will increase as follows: The Chapter 7 court filing fee will be raised from $306.00 to $335.00 The Chapter 13 court filing fee will be raised from $281.00 to $310.00 The Chapter 11...

Not every debt is dischargeable in bankruptcy. Some of the more common nondischargeable debts include student loans and recent income tax debt. Another, but less common, nondischargeable debt is for defalcation of fiduciary duty. The term defalcation, though, has been...