If a debtor first files a chapter 13 schedule which does not
If a debtor first files a chapter 13 schedule which does not list (15) patent license agreements they are a party to as part of their requirement to list all contracts/executory contracts they have....can that same debtor convert to a chapter 11 and then benefit from not having to reject or assumethose same executory contracts they intentionally did not list in their chapter 13 filing??My company is a creditor in a bankruptcy and the above is currently going on right now where the debtor has a host of executory contracts that we can prove exist but he didn't list any of them in his chapter 13 final schedule. He recently converted to a chapter 11 and I understand that there is no obligation in a Ch 11 to list these types of contracts.Did he automatically 'reject' all of the contracts that he didn't list when he submitted his final schedule for his initial Ch. 13 filing? Or does he now have the opportunity to pretend like he didn't commit bankruptcy fraud with his conversion to Ch. 11??
Can a debtor pick and choose which executory contracts they
Can a debtor pick and choose which executory contracts they want to either assume or reject in their bankruptcy schedule filing? Or do they need to assume all/reject all executory contracts.Also, is it bankruptcy fraud for a debtor to not list patent license agreements in a bankruptcy schedule filing under the executory contract section??
For DrakeLAW****, To recap - 1) I am 11 months into a
ForCustomer***Hi, Rich,To recap -1) I am 11 months into a Chapter 13 bankruptcy. My plan has been confirmed and an order on the Trustee's Motion to Allow Claims has been issued.2) My schedules include pre-petition debts owed to my condominium association. For a portion of the debt, the association obtained money judgments (one in 2013 and one in 2014). That portion totals approx. $19,500 and I scheduled it as secured debt. The remaining portion of the debt is approximately $10,500 and the association had neither obtained a money judgment nor recorded a memorandum of lien for the debt at the time I filed bankruptcy. Therefore, I scheduled it as 'unsecured' debt. The association has not submitted proofs of claim for the secured or unsecured debt.3) In our prior conversation on the subject, you raised concern as to whether the unsecured debt would somehow attach to the prior debt for which they obtained judgments. I am still unclear on this as I don't think we reached a conclusion. I will attach some documents that hopefully will help to reach a conclusion.4) I found language in the condo docs that indicates that a new purchaser of a unit is 'jointly and severally liable with the selling unit owner' for all unpaid assessments up to the time of sale. In the context of my bankruptcy, I wonder if this means that anyone who purchases my condo could still be pursued by the association for payment of the unsecured portion of the debt (even if it is discharged for me personally)? As for the legal technicalities for something like this - I believe it would be too late for the association to record a memorandum of lien for the debt (b/c Va code requires that such lien be filed within 90 days of the first assessment becoming overdue).....but could they still pursue a new owner for a money judgment? (This of course will affect the marketability of my unit you see!).
G: Executory Contracts and Unexpired Leases (Official Form
Hi. For Bankruptcy Schedule G: Executory Contracts and Unexpired Leases (Official Form 106G) -- does a Car Loan count for this? Am I to list the fact that I have car I haven't paid off yet in this form, or no? Im still making my monthly payments to the Lender for a car I havent paid off yet. Thanks in advance.
I went through a tornado in 2015. A man without any
I went through a tornado in 2015. A man without any contract, or permits started to take my roof off, and put a new one on. He is now suing me. Would my VA compensation be exempt to pay him. as I understand VA compensation is exempt from creditors. The man is using a two word latin clause to excuse him from making a mistake, and coming to my house.
I was Personally Suit in a Civil Case - unfortunately the
Hi, I was Personally Suit in a Civil Case - unfortunately the Jury has decided against me . The Judge final hearing is in 30 days on potential damages. Wanted to know the options for bankruptcy protection. Since I was suit personally, would like to protect my family before the final judgement is issued. Last, i operate a very small LLC company - want to make sure the personal claims do not escalate against my business. Please advise on the best bankruptcy protection option and the possible cost. Thank you
My husband and I signed a land contract on a house four
My husband and I signed a land contract on a house four years ago. A mortgage guy told both us and the home owner he could help us fix our credit to get us a loan in two years. He did nothing for almost 20 months, then he tried to fix everything within a two month period. The homeowner agreed to let us extend the agreement for another two years but made us pay $10,000 as a deposit and then one full year in advance(we had to withdraw money from a retirement fund). Now the mortgage guy is finally working to make sure our credit is good enough to get a loan by May or we're going to be kicked out. This guy made a lot of promises to us and the homeowner. We've made a tremendous amount of updates to the house because we were told it was ours. New furnace, new water pump, fencing, new appliances, carpet etc. We were victims of mortgage fraud on our last home and lost it in 2009. We were forced to file bankruptcy in 2007 because of it. We feel like we're going to be victims again.JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: OhioJA: Has anything been filed or reported?Customer: Filed on what?JA: Anything else you want the lawyer to know before I connect you?Customer: No
We sued a person for breach of contract, they filed
We sued a person for breach of contract, they filed bankruptcy right before the last court date so they didn't have to pay, can we re file the suit under a different cause.JA: Because laws vary from place to place, can you tell me what state this is in?Customer: MissouriJA: Has anything been filed or reported?Customer: NoJA: Anything else you want the lawyer to know before I connect you?Customer: I can't think of anything