“We Provide the Highest Quality Legal Services”

Many law firms say that they provide “the highest quality legal services.”  What does this really mean?  I recently watched a relatively routine hearing in a Chapter 11 case where the debtor corporation had eight – that’s right – eight lawyers in the courtroom.  One lawyer spoke, seven watched.  Because

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Financial Tips for Small Business Owners

  Keep corporate vs. personal debt separate.  It is a common practice for small business owners to experience periodic cash flow problems and turn to use of personal credit cards to infuse cash into their business.  It is important to note that debt incurred under a credit card held only

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Can I File Chapter 7 and Keep All of My Toys?

On June 28, the Bankruptcy Appellate Panel for the Sixth Circuit issued an opinion holding that Mr. and Mrs. Weixel’s Chapter 7 case was properly dismissed for “substantial abuse” under the bankruptcy laws.   In re Weixel, 13 FED App 0003P.   This case is binding on Kentucky bankruptcy courts. The Weixels were not

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New Case Discusses IRA Exemptions

In a case decided on June 17, the Sixth Circuit Court of Appeals reversed the Tennessee Bankruptcy Court and US District Court regarding the continuing exemption of funds in an IRA account.  In In re Daley, the chapter 7 trustee argued that because the IRA account agreement contained boilerplate language granting

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Sixth Circuit Discusses Non-Dischargeability Issues on Assigned Debt

In a case issued on June 10, the Sixth Circuit Court of Appeals in In Re Pavdvierz discussed at some length concerns that arise when the creditor pursuing a nondischargeability  action is an “assignee” from the original creditor.  Sixth Circuit cases are binding on our local bankruptcy judges.  In Pavdvierz, the Court found

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