Could Bankruptcy Be the Solution for You? Our clients often exclaim that they never expected to find themselves in this position, Bankruptcy. But when there is not enough money to pay your bills, when the stress of financial problems is affecting your daily life, and when you don’t see how you can ever get ahead,…
People often ask me, what should I expect from my bankruptcy lawyer? What does a bankruptcy lawyer do? If you hire a Chapter 7 or Chapter 13 bankruptcy attorney, here’s what that lawyer should do for you. Filing for bankruptcy is a great way to get out from under your burdensome debt, and most people…
Effect of plan confirmation Plan confirmation acts as a contract binding all parties in interest to the terms of the plan and constitutes a final United States District Court judgment as to all issues that could have been raised concerning the plan and its provisions, including alleged inconsistencies with the Bankruptcy Code. Plan provisions may…
THE ABSOLUTE PRIORITY RULE The holder of any claim or interest that is junior to the claims of such class will not receive or retain under the plan on account of such junior claim or interest any property. 1129(b)(2)(B). The phrase “absolute priority rule” has never been codified. It was first used in a case…
Chapter 11 Small Business A small business case is a chapter 11 proceeding filed by a person engages in business activities other than owning or operating real property that has liquidated debts as of the filing date of not more than $2,490,925 as of February of 2015 and in which the United States Trustee has…
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