Search for: "Debtors and Debtors in Possession"
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2 Nov 2020, 6:00 am
A “chose in action” is defined as “personalty to which the owner has a right of possession in the future or a right of immediate possession which is being wrongfully withheld. [read post]
2 Nov 2020, 6:00 am
A “chose in action” is defined as “personalty to which the owner has a right of possession in the future or a right of immediate possession which is being wrongfully withheld. [read post]
30 Oct 2020, 11:06 am
Gary 20-444Issue: Whether a defendant who pleaded guilty to possessing a firearm as a felon, in violation of 18 U.S.C. 922(g)(1) and 924(a), is automatically entitled to plain-error relief if the district court did not advise him that one element of that offense is knowledge of his status as a felon, regardless of whether he can show that the district court’s error affected the outcome of the proceedings. [read post]
23 Oct 2020, 9:59 am
The Court must specifically decide “[w]hether an entity that is passively retaining possession of property in which a bankruptcy estate has an interest has an affirmative obligation under the Bankruptcy Code’s automatic stay, 11 U.S.C § 362, to return that property to the debtor or trustee immediately upon the filing of the bankruptcy petition. [read post]
22 Oct 2020, 4:44 pm
A judgment can be discharged in bankruptcy, provided the judgment wasn't the result of the debtor knowingly injuring someone. [read post]
17 Oct 2020, 1:41 pm
While Chapter 7 is called a liquidation proceeding, most filers have no equity in their possessions or those possessions are protected by an exemption. [read post]
16 Oct 2020, 8:24 am
The justices also had several questions for Wedoff about the role of § 542, which describes how parties in possession of debtors’ property must turn it over to bankruptcy trustees. [read post]
14 Oct 2020, 12:09 pm
They argued that “the automatic stay in Section 362(a)(3) of the Bankruptcy Code provides that a creditor may not act to exercise control over a debtor’s property,” and said that maintaining possession, as much as attempting to take possession, should be understood as exercising control. [read post]
13 Oct 2020, 1:18 pm
” Bill also flags this writeup by law professor Keith Swisher, from a few years ago: “DQ Case of the Week: Negotiating to Work for the Opposing Firm” — “An associate represented the debtor-in-possession in a Chapter 11 bankruptcy, and essentially two secured creditors had claims to virtually all of the debtor’s assets. [read post]
12 Oct 2020, 11:51 am
Critically, the debtors all filed for bankruptcy protection before Chicago could sell the vehicles, meaning that they remained the owners of the cars although Chicago possessed the cars. [read post]
11 Oct 2020, 6:13 pm
The Archdiocese serves as creditor in possession during its Chapter 11 reorganization, and it has refused to pursue the assets. [read post]
10 Oct 2020, 4:37 pm
For example, a debtor who owns a business can expect to pay more due to possible dealings with business creditors, landlords and the bankruptcy trustee who may be looking to take possession of assets for the benefit of your creditors which may involve your bankruptcy attorneys time in dealing with these various parties in a bankruptcy case. [read post]
30 Sep 2020, 10:28 pm
In a Chapter 11 case, the “debtor in possession” acts as a fiduciary, responsible for accounting for property, examining and objecting to claims, and filing information reports. [read post]
24 Sep 2020, 2:10 am
Following litigation before the courts of Baltimore, Maryland, US was in possession of an enforceable money judgment against G issued in October 1999. [read post]
21 Sep 2020, 1:08 pm
In March 2019, notice was served and then in May possession proceedings brought. [read post]
14 Sep 2020, 2:30 pm
Here are some of the top tips and reminders we think about when we are dealing with bankruptcy filings by insureds: SIDE-B AND SIDE-C COVERAGE UNDER D&O POLICIES IS TYPICALLY DEEMED PROPERTY OF THE DEBTOR’S ESTATE Section 362(a)(3) of the Bankruptcy Code stays “any act to obtain possession of property of the estate or of property from the estate or to exercise control over property of the estate. [read post]
27 Aug 2020, 6:11 pm
All other property can be described and allocated in this section.Individual items such as jewelry and furniture are described as best as possible and the physical possession of these items is usually effectuated before the Marital Settlement Agreement is signed and thus memorializes that division. [read post]
20 Aug 2020, 6:15 pm
Debts will not be dischargeable in a bankruptcy which are debts “to a spouse, former spouse, or child of the debtor and not of the kind described in paragraph (5) that is incurred by the debtor in the course of a divorce or separation or in connection with a separation agreement, divorce decree or other order of a court of record, or a determination made in accordance with State or territorial law by a governmental unit;” 11 U.S. [read post]
19 Aug 2020, 5:48 pm
The financial affidavit is the mandatory summary of each party’s assets, debts, income and expenses, Interrogatories are another (usually) standard list of questions related to assets debts and income, Requests For Admission affirm these documents and facts for the sake of clarity, subpoenas ask 3rd parties for relevant documents which are (typically) not in the parties possession. [read post]
16 Aug 2020, 12:49 pm
If this is the case, simply attach the documents and write “see attached” “When the answer to an interrogatory may be obtained from documents in the possession or control of the party on whom the interrogatory was served, it shall be a sufficient answer to the interrogatory to produce those documents responsive to the interrogatory. [read post]
