Recent News
We stay abreast of current legal developments. The law is always evolving.
Warning: These Posts Does Not Constitute Legal Advice; Please Consult An Attorney
BANKRUPTCY LAW: Trustee May Recover Transferred Assets
BANKRUPTCY LAW: Trustee May Recover Transferred Assets The filing of a voluntary bankruptcy petition by an individual, couple, or company (“the debtor” or “debtors”) triggers several important legal events. Among the most important are 1) the assignment of an...
BANKRUPTCY LAW: Denial of Discharge for Failure to Maintain Books and Records
A debtor who seeks discharge, for himself or for a business, must maintain adequate financial books records to allow the bankruptcy Court to determine the debtor's true financial condition. For example, pursuant to 11 USC §727(a)(3), the debtor is not entitled to a...
BANKRUPTCY LAW: Finding of Fraud in State Court Prevented Discharge of the Associated Debt
Where Debtor had a judgment entered against him by California state court for fraud and elder abuse, this judgment was not discharged (cancelled) by his Chapter 7 bankruptcy discharge. Debtor's and Debtor's counsel's strategic absence from court at the time of the...
SCOTUS: Violating Bankruptcy Discharge Serves Up Creditor for Contempt
The primary purpose of the bankruptcy stay [11 USC Sec. 362] is to protect the debtor. (In re Fuel Oil Supply and Terminaling, Inc., 30 BR 360, 362 (Bankr.N.D.Tex.1983), cited in In re Globe Investment & Loan Co., Inc., 867 F.2d 556 (1989)). By stopping all...
BANKRUPTCY LAW: The Curious Case of Alex Jones & InfoWars
Bankruptcy is a legal proceeding that liquidates (eliminates) the unsecured debts of the debtor (debts not backed by collateral). It is important to note, however, that the debtor may have a particular legal status, and that legal status is what determines which...
Jurisdiction And Precedential Effect
JURISDICTION AND PRECEDENTIAL EFFECT: The bankruptcy courts, and Bankruptcy Appellate Panel, are Article I Courts under the US Constitution. The district courts and courts of appeal are Article III courts. As such, the Courts of Appeal are not bound by the decisions...
Automatic Stay: Bank Freeze
AUTOMATIC STAY: The Bank froze the debtor's accounts after the filing of the bankruptcy, and notified the trustee and the debtor. The bank did not use the funds as a set off for any debt. This is sometimes referred to as an administrative hold upon the debtor's...
Automatic Stay: Corporate Debtor Sued
AUTOMATIC STAY: Corporate debtor was sued in class-action in New Mexico state court, prior to filing bankruptcy. As part of his bankruptcy, the corporate debtor asked to remove the class action to Bankruptcy Court. This removal was not barred by the automatic stay,...
Bankruptcy Law: Procedure for Reopening
BANKRUPTCY LAW (9th Circuit Bankruptcy Appellate Panel; Procedure for Reopening): Where debtor sought to reopen bankruptcy case on behalf of his LLC, bankruptcy court properly denied this relief. The debtor sought to reopen matters that would not affect the...
