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cortrightlaw
cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
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A friend of mine in Taiwan received a Notice of Chapter 7 Bankruptcy

Resolved Question:

A friend of mine in Taiwan received a Notice of Chapter 7 Bankruptcy Case, Meeting of Creditors & Deadlines from U.S. Bankruptcy Court, District of Massachusetts, that a cmpany he did business with in the past has filed a bankruptcy.

What shall he do?
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  cortrightlaw replied 2 years ago.

cortrightlaw : Since they filed chapter 7 there is not much he can or should do unless he believes that the bankruptcy has been filed in bad faith or contains false information. The trustee will examine the debtors paperwork and determine if there are any assets, if there are he will send out a notice and request that creditors file claims. If no assets he will file a notice of no assets with the court meaning there is nothing for the creditors. If your friend is owed a significant amount of money he might consider hiring a bankruptcy lawyer to represent his interests.
Customer:

My friend did pay some money for a machine the Debtor promised toi build. I don't know how much, but my friend is now obtaining the proof of fund transfers to the Debtor now. The Notice listed a Meeting of Creditors of 07/19/2012. Does my firend need to show up, or provide any document for it?

cortrightlaw : No there is no need to show up, the hearing will only last about 3 minutes and is meant to question the debtors about the debts and or assets they listed on there bankruptcy petition. I the amount owed is not that much your friend should provably just considered it lost.
Customer:

Oh boy, please kindly enlighten me what is Chapter 7?

Customer:

Oh, boy, please kindly enlighten me briefly what is a Chapter 7.

Customer:

Oh, boy, please kindly enlighten me what is a Chapter 7? How do I get back to you for fuurther discussion, and with what Reference Number?

Customer:

Are you still there?

cortrightlaw : Chapter 7 bankruptcy relieves a debtor of all their unsecured debt, they are determined to be insolvent and their debt is discharged meaning that they no linger owe it to the creditor.
Customer:

That's ood enough for me right now. Thank you.

cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience: Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
cortrightlaw and other Bankruptcy Law Specialists are ready to help you
Expert:  cortrightlaw replied 2 years ago.
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.

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