Pre-petition and Post-petition In Chapter 7 bankruptcy, your "estate" consists of all assets that are subject to seizure by the court-appointed trustee, who will sell these assets to repay your creditors. In a Chapter 13, the trustee sets up a repayment schedule, which will allow you to ...
"You also usually have to pay for pre- and post-filing bankruptcy courses, though the cost of these can range from free to $100," says David Chami, managing partner at Consumers Attorneys. These administrative fees shouldn't guide your decision alone, though. For one, not everyone is eligi...
It is critical to establish tracking procedures to identify accounts payable as pre-petition and post-petition obligations. Lenders need to be sure that the borrower is prepared from an accounting perspective and a staffing perspective. If a borrower is not careful with this tracking, post-petition...
pre-petition– occurring before the filing of a bankruptcy petition. priority claims– administrative expenses and salaries, wages, employee benefits, customer deposits and taxes which occurred pre-petition. pro rata– proportionately. proof of claim– form filed by a creditor setting out its claims ...
post-petitionUnder the Bankruptcy Code, the filing of a bankruptcy petition creates a gulf between the pre-petition and post-petition worlds. The allowable amount of a claimScarberry, Mark SSocial Science Electronic PublishingSuper. 644, 647 (App. Div. 1999)). 93. See Brooks, 2007 WL ...
options available, including term loans, revolving credit lines, and invoice factoring. It emphasizes the collaborative approach between Gateway Commercial Finance and bankruptcy attorneys to facilitate pre-petition, post-petition, and exit financing, crucial for successful business reorganization and recovery...
Third-party releases can provide for the relinquishment of both prepetition and postpetition claims belonging to the debtor or nondebtor third parties (e.g., creditors) against various nondebtors. It is uncontroverted that a debtor can release its claims and other derivative claims against a non...
Section 152(7) applies to both pre-petition and post-petition transactions and prohibits both the concealment and transfer of assets as separate crimes. Burchinal v. United States, 342 F.2d 982, 985 (10th Cir.), cert. denied, 382 U.S. 843 (1965). 18 U.S.C. § 152(8) Elements ...
Intersection of Bankruptcy and ADR: Issues for Creditors, Counterparties, and Plan Propone... Analyzing the Enforceability of Pre-Petition Arbitration Clauses; Evaluatin... February 16, 2024 • CLE • CLE On-Demand This CLE webinar will offer guidance to bankruptcy lawyers contending with dela...
We regularly deal with a full range of business and litigation issues, including restructuring support agreements, proofs of claim, pre- and post-petition financing, cash collateral orders, automatic stay litigation, preference and fraudulent conveyance litigation, contested plan confirmations, sales of ...