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I have an Executory contract. A 10 year license of software.
I have an Executory contract. A 10 year license of software. We are the Licensor. The licensee has paid for the license with shares of its company (private). There are milestone payments. I believe th… read more
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What happens if a debtor files a chapter 13 petition and
What happens if a debtor files a chapter 13 petition and includes only two executory contracts on the schedules. Then, the debtor moves to convert to chapter 11 and files an amended set of schedules b… read more
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Can a debtor in possession file a lawsuit (outside of
Can a debtor in possession file a lawsuit (outside of bankruptcy court) related to an agreement/contract for which they did not assume (or list) as an executory contract in their bankruptcy schedules?… read more
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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...… read more
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If someone has been using a LLC to funnel patent licensing
If someone has been using a LLC to funnel patent licensing revenues into the LLC bank account, and then files for a personal Chapter 13 bankruptcy....is that person required to disclose the revenue th… read more
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The tenants owe rent and was served with Pay and Quit notice
The tenants owe rent and was served with Pay and Quit notice on April 1, 2015. They filed Bankruptcy Chp 7 on April 1, 2015 in the afternoon. I just received two notices and one reads: 362(1)(4)(B) - … read more
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My only asset is a membership interest in a Missouri LLC.
My only asset is a membership interest in a Missouri LLC. If I do not try to exempt that interest in a Chapter 7 tax bankruptcy, can the trustee require the LLC to liquidate my interests in order to p… read more
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If a chapter 11 debtor in possession owes oil royalties to
If a chapter 11 debtor in possession owes oil royalties to creditors, (1) what happens to those debts in bankruptcy; (2) what are the remedies available to those creditors; (3) what are the time deadl… read more
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I am treasurer of a HOA. One owner filed Chapter 13 and on
I am treasurer of a HOA. One owner filed Chapter 13 and on Feb 13,2012 I receiver a "ORDER CONFIRMING CHAPTER 13 PLAN" The plan called for a 235.00 weekly payment. The petition calls for a morgage pay… read more
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This is a Chapter 7 bankrutpcy question. The case is still
This is a Chapter 7 bankrutpcy question. The case is still open but there has been no discharge yet. The 341 hearing was 63 days ago. The debtor has an apartment lease contract. She vacated the apartm… read more
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what happens to assets that were owned by a company that is
what happens to assets that were owned by a company that is now in chapter 7 if there are no executory contracts associated with the assets? this is the story - a recording artist signed with a record… read more
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Subsequent to placing my Flagstaff, AZ. property with
Subsequent to placing my Flagstaff, AZ. property with a subsidiary of Land America (LA) for a 1031 exchange, LA declared bankruptcy in New York. The 1031 did not occur. I was not given notice of the b… read more
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Is there any case law regarding a bankruptcy trustees right to the turnover of the a
Is there any case law regarding a bankruptcy trustee's right to the turnover of the available unused portion of a line of credit in a reverse mortgage?… read more
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Rejection of unexpired lease. The case starts in Chapter 11.
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I have 2 bankruptcy questions. 1. If a debtor has a deed to
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I am about to file a Chapter 7, for over 20MM in business debt
I am about to file a Chapter 7, for over 20MM in business debt (personal guaranties of real estate debt). My assets are close to zero. However, I am currently the sole Manager (not a Member) of three … read more
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is there a limit on the $ amount of severance I can receive
is there a limit on the $ amount of severance I can receive from my former company that has filed for chapter 11 bankruptcy… read more
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I have six months of severance ( weekly salary )due .
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Meet the Experts:

Terry L.

Terry L.

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JoeLawyer

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I am an attorney.

Paul K, Esq.

Paul K, Esq.

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10 years Exp., Great customer service, Prompt responses.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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