So, Do I Need a Lawyer to File a Simple Bankruptcy Case? By: Robert L. Pryor Your longtime clients call to tell you they are suffering financial problems and that they believe they need to file a simple, straight-forward bankruptcy case. The clients further advise you that after having done some online research, they are… Continue reading SO, DO I NEED A LAWYER TO FILE A SIMPLE BANKRUPTCY CASE?
Where Business gets down to Business By: Robert L. Pryor It’s Jay vs. the Americans in rock suit By Kate Patton Friday, July 14, 2006 The front-man of a popular 1960s rock band has dug himself into a black hole, and it may cost him his famous name. Woodbury’s David Blatt, better known as Jay… Continue reading WHERE BUSINESS GETS DOWN TO BUSINESS
529 funds and bankruptcy By: Robert L. Pryor The problem: I retired some years ago and am having trouble paying my bills. I’m considering filing for bankruptcy, but I’m worried about the money I’ve invested over the years in 529 college savings plans for my grandchildren. What “does the new bankruptcy law say about those… Continue reading 529 FUNDS AND BANKRUPTCY
A Debtors Rights to avoid judgement lines By: Robert L. Pryor Time to RevisitIn re Levinson? While a bankruptcy discharge discharges most debts, it does not automatically avoid liens. When a creditor sues,obtains a judgment, and dockets it in the county where the Debtor’s homestead is located, the lien created upon the Debtor’s homestead remains… Continue reading A DEBTORS RIGHTS TO AVOID JUDGEMENT LINES
THE INTERPLAY BETWEEN PRE-BANKRUPTCY ASSET PROTECTION AND A DEBTOR’S ENTITLEMENT TO A DISCHARGE By: Robert L. Pryor, Esq.1 I. Legislative History to the Bankruptcy Reform Act of 1978 (the “Bankruptcy Code”) and Legal Background A. The legislative history to the Bankruptcy Code expressly authorizes the conversion of non-exempt to exempt assets on the eve… Continue reading THE INTERPLAY BETWEEN PRE-BANKRUPTCY ASSET PROTECTION AND A DEBTOR’S ENTITLEMENT TO A DISCHARGE
Re-Examining ‘Tenancy by the Entirety Sales in Bankruptcy By: Robert L. Pryor Prior to the decision of the Second Circuit Court of Appeals in Community National Bank & Trust Company of New York v. Persky (In re Persky), 893 F.2d.15 (2d.Cir.1989) the convention followed in bankruptcy cases pending in the Eastern District of New York… Continue reading RE-EXAMINING ‘TENANCY BY THE ENTIRETY SALES IN BANKRUPTCY
AVOIDING THE APPLICATION OF THE CHAPTER 7 MEANS TEST; THE EVOLVING CASE LAW By: Robert L. Pryor Since 2005 when the Bankruptcy Code was substantially overhauled by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“BAPCPA”), the so-called “Means Test”, implemented by that statute, has become a critical factor in determining the availability… Continue reading AVOIDING THE APPLICATION OF THE CHAPTER 7 MEANS TEST
Section 363 sales vs. sales under Chapter 11 plans By: Robert L. Pryor Recent decisions in the Chrysler and General Motors Chapter 11 bankruptcy cases have focused attention on the use of § 363 of the Bankruptcy Code1 to sell substantially all of the assets of a debtor, rather than selling the assets pursuant to… Continue reading SECTION 363 SALES VS. SALES UNDER CHAPTER 11 PLANS
A DEBTOR’S RIGHT TO AVOID JUDGMENT LIENS; IN IT TIME TO REVISIT Jn Re: Levinson ? By: Robert L. Pryor While a bankruptcy discharge discharges most debts, it does not automatically avoid liens. When a creditor sues, obtains a judgment, and dockets it in the county where the Debtor’s homestead is located, the lien created… Continue reading A DEBTOR’S RIGHT TO AVOID JUDGMENT LIENS; IS IT TIME TO REVISIT JN RE: LEVINSON ?
THE EFFECT OF “CANCELLATION OF INDEBTEDNESS” PRIOR TO A BANKRUPTCY FILING By: Robert L. Pryor One of the unheralded but nevertheless significant benefits of the successful filing of a bankruptcy petition by an individual is that there is no income tax consequence from the discharge of existing obligations. When a creditor discharges an obligation outside… Continue reading THE EFFECT OF “CANCELLATION OF INDEBTEDNESS” PRIOR TO A BANKRUPTCY FILING