Chapter 11 Bankruptcy

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”...

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...

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...

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....

  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...

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...

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 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...

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...

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...