by Devin Sawdayi | Nov 26, 2017
Chapter 7 bankruptcy enables qualifying debtors to pay down their debts by liquidating their non-exempt assets, followed by a discharge of many remaining debts. In order to qualify for a Chapter 7 discharge, debtors must demonstrate that they meet the criteria set out...
by Devin Sawdayi | Jun 20, 2017
The Bankruptcy Code provides individuals and families with several options when they need to file a bankruptcy petition, and it allows them to convert a case from one chapter to another in certain circumstances. A federal appellate panel in California recently...
by Devin Sawdayi | Apr 11, 2016
A bankruptcy judge recently denied a debtor’s request to convert his case from Chapter 11 to Chapter 7, finding that he had not acted in accordance with his fiduciary duties throughout the case. Most individual debtors do not find Chapter 11 to be helpful. It is much...
by Devin Sawdayi | Dec 4, 2013
Desert Hot Springs, a small resort town of about 26,000 people in Riverside County, California, is reportedly considering filing for bankruptcy protection. Two other California cities, Stockton and San Bernardino, have filed for bankruptcy since 2012. The most...
by Devin Sawdayi | Jul 5, 2013
The trustee has filed a proposed Chapter 11 bankruptcy plan in the case of Lou Pearlman, a music mogul currently serving a prison sentence for various fraud offenses. In re Pearlman, No. 6:07-bk-00761, Chapter 11 trustee’s plan (Bankr. M.D. Fla., Jun. 12, 2013)....
by Devin Sawdayi | Jul 2, 2013
In certain circumstances, creditors may file a bankruptcy petition against a debtor, essentially forcing the debtor into a repayment plan. This process, known as involuntary bankruptcy, is mostly used against businesses with substantial debts and sufficient assets to...
