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Guarantee is erased in discharge
Schwinn bicycles is similar. Ch 11, sale of name and designs, kid falls, old And new Schwinn liable say cal court. Remember in liquidating 11 no corp discharge.
D
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
> On Jul 17, 2014, at 10:50 AM, "jhayes@hayesbklaw.com [cdcbaa]" wrote:
>
> My favorite case about "when the claim arose" is In re Piper Aircraft. There Piper built a plane, sold it to somebody. Piper filed bankruptcy. After the petition date, the plane fell out of the sky and killed the buyer. Did the poor guy's claim arise pre or post? It arose prebankruptcy said the court - when Piper built a defective plane. At that moment there was a contingent claim which is discharged (unless some other reason for non-dischargeability exists).
>
>
> There is also the case of In re Jensen. There the debtor put a hazardous waste dump in his yard and later filed bankruptcy. After the bankruptcy, the California agency that cleans up waste dumps demanded that he clean it. He dint. The agency then cleaned it up and sent him a bill. Did the agencies' claim arise pre or post? Pre said the 9th Circuit. How could that be said the agency? We have no claim until we clean the place. The court said the claim arose when the guy created the waste.
>
> Another example is car leases. Any obligation arising from the lease is discharged, even if the debtor keeps the car. That is why BAPCPA started requiring the debtor to reaffirm the lease or give back the car.
>
> I tell people that the nice thing about bankruptcy is it works. You really don't owe anyone anything unless 523(a) says it survives the bk.
>
> Just some thoughts. Jon
>
On Jul 17, 2014, at 10:50 AM, "jhayes@hayesbklaw.com [cdcbaa]" <cdcbaa@yahoogroups.com> wrote:
My favorite case about "when the claim arose" is In re Piper Aircraft. There Piper built a plane, sold it to somebody. Piper filed bankruptcy. After the petition date, the plane fell out of the sky and killed the buyer. Did the poor guy's claim arise pre or post? It arose prebankruptcy said the court - when Piper built a defective plane. At that moment there was a contingent claim which is discharged (unless some other reason for non-dischargeability exists). There is also the case of In re Jensen. There the debtor put a hazardous waste dump in his yard and later filed bankruptcy. After the bankruptcy, the California agency that cleans up waste dumps demanded that he clean it. He dint. The agency then cleaned it up and sent him a bill. Did the agencies' claim arise pre or post? Pre said the 9th Circuit. How could that be said the agency? We have no claim until we clean the place. The court said the claim arose when the guy created the waste. Another example is car leases. Any obligation arising from the lease is discharged, even if the debtor keeps the car. That is why BAPCPA started requiring the debtor to reaffirm the lease or give back the car.I tell people that the nice thing about bankruptcy is it works. You really don't owe anyone anything unless 523(a) says it survives the bk. Just some thoughts. Jon
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Getzof does not appear to have been overruled
d
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
> On Jul 16, 2014, at 3:57 PM, "Michael Avanesian michael@avanesianlaw.com [cdcbaa]" wrote:
>
> If you would like arguments for why a guarantee is discharged, see: http:
The post was migrated from Yahoo.