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The moment a bankruptcy petition is filed, an event known as the Automatic Stay is triggered and the bankrupt debtor is protected from continued collection activities[i]. The Automatic Stay...

A primary relief of filing for bankruptcy protection is to obtain the benefit of the Automatic Stay. The Automatic Stay keeps creditors at bay while the bankruptcy case is administered. It prevents a...

Not all debts go away in a bankruptcy. Certain types of debt are nondischargeable. Potentially nondischargeable debts, those for money, property, services, or an extension, renewal, or refinancing of...

Any small business owner knows the importance and difficulty in obtaining credit. Whether the need for financing is to purchase real estate, inventory, or to obtain terms with vendor, the small...

Under the Bankruptcy Code, debtors and bankruptcy trustees are authorized to assume or reject executory contracts and unexpired leases in bankruptcy. The legislature, in drafting Section 365 of the...

At first one would think this question is simply no. However, legal questions are rarely so easily answered. Lawyers are a crafty bunch. 

Official unsecured creditor committees are provided for by 11...

Bankruptcy is like being in a lobster trap. They are both easy to get into, difficult to move around in once inside, and difficult to get out of. This concept is particularly true when it concerns a...

A common question that many clients ask during our firm’s free consultations is whether their marital spouse is required to file for bankruptcy with them. Luckily, bankruptcy law permits one spouse...

When a business petitions for bankruptcy, the business often requires the use of property that is subject to a creditor's lien. For example, a business that has accounts receivable may need the...

A levy on a bank account is often the impetus to seek bankruptcy protection. An issue that commonly comes up is what happens to the money held by the bank subject to the judgment creditor's levy. If...