Search for: "Debtors and Debtors in Possession"
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3 Jun 2011, 11:14 am
Creditors cannot garnish tax refunds in the IRS’s possession. [read post]
6 Nov 2006, 3:49 pm
· Upon the filing of the bankruptcy petition, the debtor will adopt the identity of "debtor in possession. [read post]
27 Sep 2012, 1:47 pm
Supreme Court.BackgroundA trustee (or debtor-in-possession) in a Chapter 11 bankruptcy is typically allowed to assume or reject any of the debtor’s “executory contracts,” which are generally understood to mean those contracts in which material obligations have yet to be performed by each contracting party.Recognizing the difficulty and uncertainty that the rejection of license agreements can cause for licensees of intellectual property, Congress enacted… [read post]
29 Jun 2008, 1:47 pm
In an order approving the sale, the bankruptcy court stated, in relevant part: Any original books and records, and/or assets of the Entities ... for which the Debtor has possession, custody, or control, shall be turned over to the Trustee forthwith. [read post]
1 Sep 2015, 4:02 pm
These are most often filed by secured creditors—such as vehicle lenders and home mortgage holders—in order to get court permission to get possession of its collateral. [read post]
14 Mar 2012, 11:00 pm
A debtor will remain a debtor in possession until the debtors plan or reorganization is confirmed, the case is dismissed or converted to a chapter 7 or a trustee is appointed. [read post]
5 Sep 2007, 7:00 am
The factual background has a great opening: "This tortured tale about ‘a truck and those that would possess it' . . . [read post]
17 Oct 2013, 2:04 pm
SIPA defines “customer” as follows:(A) IN GENERALThe term ‘customer’ of a debtor means any person (including any person with whom the debtor deals as principal or agent) who has a claim on account of securities received, acquired, or held by the debtor in the ordinary course of its business as a broker or dealer from or for the securities accounts of such person for safekeeping, with a view to sale, to cover consummated sales, pursuant to… [read post]
19 Sep 2018, 7:00 am
If they are filing for Chapter 11 bankruptcy, then their business remains in control of its possessions and assets. [read post]
7 Apr 2013, 4:00 am
The accused was charged with possession of . . . [read post]
22 Jun 2011, 1:36 pm
In this unpublished decision, the dispute concerns the proper interpretation of an asset purchase agreement between a Chapter 11 debtor and the company that purchased it out of bankruptcy. [read post]
6 Jan 2014, 7:39 am
This case may have implications for bankruptcy debtors and trustees. [read post]
11 Sep 2011, 8:59 am
Most cases are no asset case, meaning the trustee does not sell any of your possessions. [read post]
18 Dec 2009, 8:38 am
Know when to use debtors (plural), debtor’s (singular possessive), and debtors’ (plural possessive). [read post]
12 Aug 2011, 10:22 pm
When filing for Chapter 7 bankruptcy debtors must turn almost all of their property over to the bankruptcy court's authority. [read post]
6 Jun 2007, 10:03 am
By the time of the trustee's lawsuit the creditors had now cashed the checks, and the debtor reasoned he was no longer in possession of property of the bankruptcy estate. [read post]
25 Sep 2009, 4:31 am
His hand-written petition listed my client, the landlord, as his only creditor.What this defendant did not know, however, was that the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ("BAPCPA") amended Section 362 of the code so that the automatic stay does not apply to "any eviction, unlawful detainer action, or similar proceeding by a lessor against a debtor involving residential property in which the debtor resides as a tenant under a lease or… [read post]
2 Dec 2008, 7:18 pm
The debtor will typically act as his own trustee, called a "debtor in possession", and will remain in possession of all estate property. [read post]
6 Feb 2007, 8:12 am
The recording company later went bankrupt, becoming the debtor-in-possession. [read post]
2 Sep 2022, 4:00 am
The debtor was a convicted felon and was not permitted to possess a weapon or ammunition. [read post]
