A chapter 7 debtor (as opposed to a trustee) may bring such actions for his or her own benefit (as opposed to for the benefit of the debtor's estate) in limited circumstances. To bring the avoidance...
July 1, 2015
Bankruptcy,
Chapter 7,
Chapter 11
Recent financial struggles facing the Texas Rangers baseball team have brought attention to the issue of involuntary bankruptcy proceedings. Creditors holding roughly $525 million in debt accrued by...
June 1, 2015
Bankruptcy,
Foreclosure
Sometimes homeowners facing foreclosure decide that they cannot afford to stay in the home and that it just does not make sense because the house value is much less than the amount they owe on...
May 1, 2015
Bankruptcy,
Chapter 11
"Structured Dismissals" in the Chapter 11 process are becoming an acceptable alternative to confirmation of a Chapter 11 plan.
Take the case of a business owner trying to "save the company" in this...
April 21, 2015
Bankruptcy,
Chapter 7
Chapter 7 Trustees are compensated in two ways. First, they receive a flat $60 fee per case. Second, in the event there are assets to liquidate, the trustee will receive "reasonable" compensation in...
February 13, 2015
Bankruptcy,
Business Law
Business Bankruptcy & Licensee Rights
The rights afforded to a licensee under Section 365(n) trump "free and clear" sales under Section 365(f). This was the holding in a recent decision by Judge...
January 3, 2015
Bankruptcy
While the following is not a complete list of all issues when deciding whether to file bankruptcy, these are frequent considerations and questions that arise with clients contemplating bankruptcy.
December 30, 2014
Bankruptcy,
Chapter 13
If you owe tax debt and the IRS or state is coming after you, then a New Jersey chapter 13 bankruptcy may be an option for you.
December 15, 2014
Bankruptcy
After a successful bankruptcy, a person is discharged from most debts - meaning the person no longer has any personally responsibility for the debt. What many New Jersey residents don't know,...
December 12, 2014
Bankruptcy,
Debt Management
What Property Is Included in the Bankruptcy Estate?
When you declare bankruptcy, anything that you have a property interest in becomes an asset of your bankruptcy estate. All assets of the bankruptcy...