Interest Rates and Tax Claims

By: Laura Day DelCotto I learn something new every day, so it keeps this life fun. Somehow, I don’t remember ever specifically focusing on 11 USC §511 in all these years of confirming plans.   With interest rates moving so often this year (and in the wrong direction from borrowers’ perspective),

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Secret Court Filings? Not So Much…

By: Laura Day DelCotto The litigation process is a “public” procedure, all set forth in an official court record which can be accessed by the public. Sometimes, one (or both) of the parties want to file papers, but keep them confidential and not open to public view.  Maybe there are

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Legal Claims as Assets in Chapter 11

By: Dean Langdon It’s not unusual for a company in financial distress to be involved in some sort of litigation, with claims being asserted back and forth between one or more parties. One of the benefits of filing bankruptcy is the automatic stay, which stops prosecution of most legal actions

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Cure Periods for Assuming Executory Contracts and Leases

Cure Periods for Assuming Executory Contracts and Leases Section 365(b)(1) of the Code sets forth the requirements which a debtor must satisfy to assume an unexpired lease or executory contract and it specifically provides that: “If there has been a default on an… unexpired lease of the debtor, the [debtor

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Automatic stay, extend, non-debtor, non-bankrupt parties

Extending Automatic Stay to Non-Debtors

A bankruptcy lawyer’s overview for automatic stay for non-bankrupt parties   Bankruptcy courts have the authority to extend the automatic stay to non-bankrupt parties, under limited circumstances. Bankr.Code, 11 U.S.C.A. §§ 105(a), 362(a).  Section 105 (a) of the Bankruptcy Code states as follows:  “The court may issue any order, process,

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Counsel, Chapter 11, Bankruptcy Code, Disinterested

Counsel in Chapter 11 Proceedings

Retention of Counsel in Chapter 11 Proceedings By: Jamie L. Harris, Esq. 11 U.S.C. § 327(a) permits a debtor to employ an attorney that (1) does not “hold or represent and interest adverse to the estate”; and (2) is disinterested. 11 U.S.C. § 327(a). The Bankruptcy Code defines “disinterested person”

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SARE, Single Asset Real Estate Debtor

Dare to SARE: Single Asset Real Estate Debtors

Dare to SARE: Single Asset Real Estate Debtors DEFINING “SARE’S” The term “single asset real estate” is defined in 11 U.S.C. § 101(51B) as “real property constituting a single property or project, other than residential real property with fewer than 4 residential units, which generates substantially all of the gross

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Chapter 12, bankruptcy, farmers, family farm, fisherman

Defining Family Farmer: Eligibility for Chapter 12 Bankruptcy

Defining Family Farmer: Eligibility for Chapter 12 Bankruptcy By: Jamie L. Harris, Esq. It may be surprising but not all farming operations may qualify as “family farmers” eligible to seek Chapter 12 bankruptcy relief. “Only a family farmer … with regular annual income may be a debtor under chapter 12″

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Pre-negotiated Chapter 11 Plans

Pre-Negotiated Chapter 11 Bankruptcy Plans by Jamie L. Harris If a company has insufficient time or ability to complete a fully prepackaged Chapter 11 bankruptcy case, an alternative is a pre-negotiated plan which is quite similar to a prepackaged plan. A pre-negotiated plan, like a prepackaged plan, involves prepetition negotiations

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