How to Choose a Bankruptcy Attorney

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Let one truth drive your search for legal counsel in your company’s bankruptcy: the more complex the case the more crucial the need for an attorney steeped in bankruptcy law. Let’s call that rule #1 – hire an attorney with a proven track record in bankruptcy law. Rule #2? read Rule #1. It may be …Read more

How do I File Bankruptcy for My Business

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“I must file bankruptcy for my business.” That is not likely a part of your business plan but, if conditions bring you to that point, you must formulate a cohesive plan to manage safe passage through the bankruptcy minefield. Rule number one: If you are filing bankruptcy for a business entity you must use an …Read more

I Received an Objection to my Claim. Now What?

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You have been pulled into the quagmire of someone else’s bankruptcy. Your priority is to recover what you can, working within the legal framework of the bankruptcy process. The process is designed to be fair to creditors. Use it fully and carefully to recapture what you can. Along the way you will encounter obstacles. One …Read more

Can My Claim Survive Bankruptcy?

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One of the key reasons a debtor files bankruptcy is to obtain a discharge of the debtor’s pre-petition debts.  Generally, only an individual debtor obtains a discharge.  In cases of corporate reorganizations, the Plan may include a provision that except as provided in the plan all pre-petition obligations are discharged, but otherwise, the corporation does …Read more

Can Debtor Avoid Turning Over Assets to the Bankruptcy Trustee?

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Let’s say “Jane” doesn’t see a lawyer in time to orderly dissolve the company, and now Big Bank and a few other creditors are coming after her.  She hasn’t found a new full time job, and she’s coming to the end of her savings.  Pretty soon she won’t be able to pay her credit card …Read more

Creditors Don’t Forget to File Your Proofs of Claim When a Debtor Files for Bankruptcy

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One of the first things you as a creditor should do when you receive notice that a customer has filed bankruptcy is to file a proof of claim.  The Proof of Claim form (Official Form 10) often accompanies the notice of the commencement of the case, and can also be found at the Court’s website.  …Read more

Options for Creditor in Bankruptcy Case

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This is the second in a series of posts, where we will look at various options for the creditor in a bankruptcy case.  These are just designed to let you know what remedies might be available to you. Regardless of what type of bankruptcy was filed, you must immediately cease any and all collection efforts …Read more