The goals of Sub-chapter V are to minimize the time and expense of small business reorganization. status conference Within 60 days of the filing, the bankruptcy court is expected to hold a status conference “to further the expeditious and economical...
ELIGIBILITY FOR SUB-CHAPTER V ELECTION Sub-chapter V election by a small business requires that the debtor have non-contingent, liquidated debts (secured and unsecured) totally not more than $2,725,625..00 (presently for small business election under Chapter 11 the debt limit is...
Sub-Chapter V of Chapter 11 of the United States Bankruptcy Code was signed into law in August 2019 and took effect in February 2020. The intent of the change to the Bankruptcy Code was to provide a more streamlined, less...
The Coronavirus outbreak has caused the unprecedented shutdown of businesses by the government. While this may be necessary to control the spread of the virus, the shutdown is having a devastating effect on businesses throughout the country. With New Jersey...
In Ritzen Group, Inc. v. Jackson Masonry, , 589 U.S. ___ (2020), the United States Supreme Court unanimously ruled that where a creditor seeks "relief" from the "automatic stay" in a bankruptcy case and is denied that relief, the creditor...
Phone scamming from public information is becoming more and more prevalent with the access to information through online resources. We have seen firsthand the impact of phone scams involving the IRS and other debt collection matters. Now, a recent scam...
The United States Supreme Court has announced, by granting certiorari in two cases from the 11th Circuit, that it will decide an ongoing issue of whether a Debtor in a Chapter 7 Bankruptcy Case may strip off a junior lien...
The Judicial Conference of the United States Courts approved amendments to the fees applicable in New Jersey and all Bankruptcy Court cases. The increases below go into effect June 1, 2014. FILING FEES FOR BANKRUPTCY PETITIONS: Chapter 7 Petition...
The U.S. Trustee Program has posted the means test figures that are to be used for filings on and after November 1. New Jersey Median income figures are there and can be reviewed for comparison for qualification for Chapter...
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