COVID-19 Bankruptcy Relief Extension Act Ends on March 27, 2022 – Act Now
COVID-19 Bankruptcy Relief Extension Act Ends on March 27, 2022 – Act Now

In Chapter 11 Bankruptcy, there is what is known as a Subchapter V. There are significant benefits for a small business to file Subchapter V instead of a typical Chapter 11.  This includes two (2) complicated but important concepts: “Absolute Priority”...

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Recent Case Liberally Interprets Sub-Chapter V Eligibility
Recent Case Liberally Interprets Sub-Chapter V Eligibility

The Small Business Reform Act defines small business debtor as a person engaged in commercial or business activities (including any affiliate of such person that is also a debtor under this title and excluding a person whose primary activity is the business of owning single asset real estate) that has aggregate non-contingent liquidated...

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Chapter 13 Bankruptcy Debt Limits
Chapter 13 Bankruptcy Debt Limits

Bankruptcy Code Chapter 13 Debt Limits When considering a Chapter 13 Bankruptcy, an experienced attorney will review your debt to confirm they are within the debt limits. Section 109(e) of the Bankruptcy Code establishes debt limits for a debtor, or...

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What Chapter 11 Bankruptcies Filed by a Toy Retailing Giant & Kabbalah Taxi Have In Common ?
What Chapter 11 Bankruptcies Filed by a Toy Retailing Giant & Kabbalah Taxi Have In Common ?

Two Interesting examples of how the internet is destroying  business both big and small are the Chapter 11 Petitions filed by Toys R Us and Kabbalah Taxi Inc. The provisions of the Automatic Stay of the  Bankruptcy Code, 11 U.S....

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Bankruptcy FAQ: 2017 Chapter 13 Debt Limits
Bankruptcy FAQ: 2017 Chapter 13 Debt Limits

  Bankruptcy Code Chapter 13 Debt Limits Section 109(e) of the Bankruptcy Code establishes debt limits for a debtor, or married couple, to qualify for relief under Chapter 13 of the Code.   As with many monetary amounts in the...

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The Strategic Use of Bankruptcy by Debtors  – Gawker Media Files Chapter 11 Bankruptcy and Buys Time
The Strategic Use of Bankruptcy by Debtors – Gawker Media Files Chapter 11 Bankruptcy and Buys Time

The United States Bankruptcy Code is a powerful tool which, when used expertly, can provide the most precious remedy debtors who cannot pay their current obligations can possess - time.  The remedy of time is not limited to sophisticated large...

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Bankruptcy News: Phone Scammers Targeting Bankruptcy Filers
Bankruptcy News: Phone Scammers Targeting Bankruptcy Filers

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...

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Bankruptcy Court Increase in Filing Fees Effective June 1, 2014
Bankruptcy Court Increase in Filing Fees Effective June 1, 2014

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...

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Where is a Bankruptcy Case filed in New Jersey?
Where is a Bankruptcy Case filed in New Jersey?

A common question we get is "where will my case be filed"?  Bankruptcy cases arise from the Federal Bankruptcy Code and therefore are heard and prosecuted in Federal Courts. In legal terms, this is called "jurisdiction". "Venue" is the legally...

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Checklist:  Tax Planning for Individuals filing Chapter 7, Chapter 13, or Chapter 11 Bankruptcy
Checklist: Tax Planning for Individuals filing Chapter 7, Chapter 13, or Chapter 11 Bankruptcy

The following is a short checklist of Tax Planning and Practice Strategies which may be followed by an attorney for an Individual considering the filing of a Chapter 7, Chapter 13, or Chapter 11 Bankruptcy. 1.  Whether to File a Bankruptcy Case? The...

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