How long until a chapter 7 bankruptcy for a company is closed/discharged?
State/Country relating to question: California
Trying to find out if the chapter 7 bankruptcy that the home builder for my home filed on August 22, 2011, would be closed out (discharged) at this point? The home builder paid an insurance company $4 Million to cover the home warranties in the event that they went out of business, and now that insurance company is balking on paying a claim because they fear the bankruptcy court may decide to seize the $4 million to pay others that the home builder owes money too.
Ok, I had read that somewhere online, but I wasn't sure if it is always six months or not
After the bankruptcy gets closed out, can assets (or perceived assets) still be seized by the bankruptcy court? Or is that something that can't/won't happen once the close out process has taken place?
Ok, do you know who I can contact (or maybe an institution I can contact) that would be able to confirm to me that this chapter 7 bankruptcy that the home builder of my house filed is actually discharged and done? It seems like I am going to need to prove to this insurance company that they don't have to worry about a Judge seizing the $4 million as assets of the home builder in order for them to pay the claim I have (which is due to a construction defect of the house).
Ok, thank you for the information, I appreciate it.
Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
I was glad to be of assistance answering your bankruptcy question. As you proceed through the bankruptcy process if you have any additional bankruptcy questions I would be glad to assist you. When asking your questions just request cortrightlaw and the question will be routed to me for a response. Attorney Kevin Cortright
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