We did recently file a Chapter 7 for an entity who had taken customer deposits. Projects were in various states of completion. We filed the Chapter 7 as the entity had assets that could be liquidated for the benefit of creditors. In an orderly liquidation, a Chapter 7 trustee could pay back a percentage...

wing081

You have not posted since your first post but I wanted to follow up on my comments. I find the issue of cross-boarder insolvency interesting so I wanted to give you some 9th Circuit case law on the issue. You indicated that you filed in the State of Washington. Washington is in...

I really don't know. I think it goes to the intent of the parties. "Owner" is not the same as signing "individually", but it is also not the same as signing as "managing member". There may be Oregon case law on this issue (assuming the contract is to be interpreted...

"A private employer may not terminate the employment of, or discriminate with respect to employment against an individual who is or has been a debtor in bankruptcy." 11 USC 525(b).

Now, can a private employer refuse to hire? Maybe. I have not researched this. My gut tells me the...

You do nothing with the vehicles. Putting them in your name (at any time) is a fraudulent transfer out of the entity unless you pay the entity fair value for the purchase of the vehicles and then use those funds to pay entity debt. Assuming you are in a title holding state - meaning that liens against...

In most jurisdictions case law states that the SOL tolls (stops running) while in Chapter 13 so add 2 years onto whatever your State allows.

Des.

1. If the entity ceases to operate and defaults in its payment to the secured lender, the lender has the right to take possession of its property (collateral). You contact the lender and arrange to have the property surrendered. You DO NOT dispose of the collateral as the collateral does not belong...

Assuming the business is an entity (Inc. or LLC), you need to separate yourself from the entity. When you say that the loan "lists basically all of my personal stuff as collateral" do you really me "your" stuff or stuff belonging to the "entity"? Who is the borrower, you...

Sorry that I am late to the party. Stuff gets in the way. This will only address the Motion to Extend the Stay. Hopefully, you have already filed it and a Hearing has been set. Regardless:

The Motion must be filed AND granted within 30 days of filing. There must be a Hearing so, depending...