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24 Nov 2020, 11:07 am
Many prospective clients ask us if they should notify their creditors that they are intending to filing bankruptcy. [read post]
24 Nov 2020, 8:00 am
This will cost a little bit extra, but the Debt Management Plan demonstrates to creditors a sincere interest in making good on what is owed. [read post]
23 Nov 2020, 8:05 pm
Here they are: Rule 2002 governing notices to creditors and others has been amended to (1) add cases under chapters 12 and 13 of the Bankruptcy Code to the notice rule about orders confirming plans, (2) conform time periods to those under Rule 3002(c) for filing proofs of claim, and (3) replace “pursuant” with “under” in various places, presumably to make the rules more readable. [read post]
23 Nov 2020, 4:25 am
In this case involving a Turkish restaurant located in midtown Manhattan, which I first wrote about in 2017, the court granted summary judgment of liability in favor of a 25% shareholder on his statutory claim for dissolution, common law breach of fiduciary duty, and violation of the Debtor and Creditor Law. [read post]
22 Nov 2020, 10:06 pm
” To invoke the provisions of Section 25(3), the most important condition is that there has to be a debt expressly acknowledged which the creditor but for the period of limitation, might have enforced. [read post]
20 Nov 2020, 8:55 pm
The second part of the scheme is the Statutory Debt Repayment Plan (SDRP), a statutory agreement that will enable a person in problem debt to repay their debts to a manageable timetable, with legal protections from creditor action for the duration of their plan. [read post]
20 Nov 2020, 1:23 pm
The evidence that the creditor will use will usually be entirely circumstantial . [read post]
20 Nov 2020, 10:15 am
Raleigh, NC Business, Construction, & Creditor's Rights AttorneysVaried backgrounds and expertise of dedicated attorneys and staff providing clients with effective and efficient legal advice and representation throughout North Carolina. [read post]
20 Nov 2020, 9:58 am
The Company has reportedly executed a Restructuring Support Agreement with creditors representing more than two-thirds of its outstanding debt and other parties in interest, which contemplates agreed-upon terms for a pre-arranged financial restructuring plan. [read post]
20 Nov 2020, 5:44 am
The court stated that while the threat of bankruptcy was lingering at the time of the order, the order’s intentions were not to make the wife a secured creditor. [read post]
20 Nov 2020, 5:44 am
The court stated that while the threat of bankruptcy was lingering at the time of the order, the order’s intentions were not to make the wife a secured creditor. [read post]
20 Nov 2020, 1:48 am
If they just have their own name on the lending agreement, the creditor will only hold them responsible for payment. [read post]
19 Nov 2020, 12:32 pm
As the likely outcome of the division of debt becomes more clear, it is important that you refinance or otherwise work with lenders and creditors to ensure that the debts left with each spouse are listed in his or her name alone. [read post]
19 Nov 2020, 3:30 am
Academic inspiration for the DBR is routinely linked to the “legal origins” argument which classically claimed that countries with common law legal heritage perform better economically—most acutely by favoring creditors and minority corporate shareholders. [read post]
18 Nov 2020, 11:07 am
The Subchapter V trustee acts as a fiduciary for creditors, in lieu of an appointed creditors’ committee. [read post]
18 Nov 2020, 7:33 am
Court of Appeals for the Ninth Circuit recently held that a debt collector cannot use the “bona fide error” defense to shield itself from liability under the Fair Debt Collection Practices Act (FDCPA) by merely (1) requiring its creditor clients to provide accurate account information, and (2) requesting verification of the account information from its creditor client, but not waiting to receive a response before trying to collect the debts. [read post]
18 Nov 2020, 3:19 am
Normally, a meeting of creditors is held after filing a bankruptcy petition. [read post]
17 Nov 2020, 7:06 pm
In such instances, the trustee can sell the property and distribute the entirety of the proceeds among the debtor’s creditors. [read post]
17 Nov 2020, 3:45 pm
… Thus, any allowed claim would be paid pro rata with the debtor’s other unsecured creditors. [read post]
17 Nov 2020, 7:00 am
Some creditors require that debtors sign reaffirmation agreements to assume a lease while others simply rely on one-page lease assumption agreements. [read post]
