.jpg)
Corporate BK
charset="windows-1251"
corporation should file.
as for which chapter, corporations not eligible for c13.
c7 or c11, depends on facts
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
pnnzegge@yahoo.com
Sent: Wednesday, November 03, 2010 11:11 PM
To: CDCBAA Bankruptcy
Subject: [cdcbaa] Corporate BK
Client's name is on the Mortgage, but the deed is recorded in Corporation's
name. Trustee sale is scheduled. Who should file BK to stop the sale?
Corporation Chp7 or Client 7 or 13?
Thanks
Philomena N. Nzegge
213.739.0650 office
213.507.0650. cell
Sent from my Verizon Wireless BlackBerry
charset="windows-1251"
Message
corporation shouldfile.
as for which chapter,
corporations not eligible for c13.
c7 or c11, depends on
facts
David A.
Tilem
Certified Bankruptcy
Specialist*
The post was migrated from Yahoo.
Client's name is on the Mortgage, but the deed is recorded in Corporation's name. Trustee sale is scheduled. Who should file BK to stop the sale? Corporation Chp7 or Client 7 or 13?
Thanks
Philomena N. Nzegge
213.739.0650 office
213.507.0650. cell
Sent from my Verizon Wireless BlackBerry
The post was migrated from Yahoo.
Can someone give me the name and address of a good bankruptcy attorney in San Francisco.
Thanks - Sharon E. Brown
Yahoo! Sports
Rekindle the Rivalries. Sign up for Fantasy Football
Can someone give me the name and address of a good bankruptcy attorney in San Francisco.
Thanks - Sharon E. Brown
Yahoo! Sports
Rekindle the Rivalries. Sign up for Fantasy Football
The post was migrated from Yahoo.
To play devil's advocate, I rarely see the point of filing a corporate Ch 7, unless there are assets. In Matt's case, he can explore with his client whether the client should file because of personal liability and whether the client
will have a defense to dischargeability claims by angry creditors. Usually, the creditors are going to go after the principle(s) if they are angry and suspect mishandling of their funds. My two cents ....CF
----- Original Message -----
To: cdcbaa@yahoogroups.com
Sent: Wednesday, June 29, 2005 9:42 PM
Subject: Re: [cdcbaa] Corporate BK
Absolutely it can file and in many cases it is very beneficial to do so for the principals. It's obviously more beneficial if there are assets for the Trustee to administer, or at least make a determination that they are de minimis value, but there's nothing preventing the filing of a corporate no-asset case. There will be no discharge of debts, but it can make the wind-up of the corporation much easier because the creditors will realize that there's nothing there, which can cut way down on lawsuits, depositions, etc. for the principals. It also gives some closure for the principals as far as allegations of preferential payments, etc.
***********************************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173
(818)509-1460 (fax)
e-mail: bklawr@bklaw.com
web: http://www.bklaw.com/
************************************************
Confidentiality Note: This e-mail is intended only for the person or
entity to which it is addressed and may contain information that is privileged,
confidential, or otherwise protected from disclosure. Dissemination,
distribution, or copying of this e-mail or the information herein by anyone
other than the intended recipient, or an employee or agent responsible for
delivering the message to the intended recipient, is prohibited. If you
have received this e-mail in error, please notify us immediately at (818)
509-1173 or e-mail us at bklawr@bklaw.com and destroy the
original message and all copies.
----- Original Message -----
To: cdcbaa@yahoogroups.com
Sent: Wednesday, June 29, 2005 6:19 PM
Subject: [cdcbaa] Corporate BK
Question came up and now I am really confused:
Can a corporatation file a BK if they have no assetts but tons of debt. Client being sued individually, however, heard that corporate BK would resolve his problem....Company was a film production company, solely created for that one film. Film never got off the ground but the debts did...almost a million bucks worth!!!!
So, no assets and of course 727 (a)(1) plays in, but would a bk be helpful at all or the fact that there are no assets to orderly distribute makes the 7 of no practical use???
-
YAHOO! GROUPS LINKS
a.. Visit your group "cdcbaa" on the web.
b.. To unsubscribe from this group, send an email to:
cdcbaa-unsubscribe@yahoogroups.com
c.. Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
-
To play devil's advocate, I rarely see the point
of filing a corporate Ch 7, unless there are assets. In Matt's case, he can
explore with his client whether the client should file because of personal
liability and whether the client
will have a defense to dischargeability claims
by angry creditors. Usually, the creditors are going to go after the
principle(s) if they are angry and suspect mishandling of their funds. My two
cents ....CF
----- Original Message -----
From:
Mark J Markus
To: cdcbaa@yahoogroups.com
Sent: Wednesday, June 29, 2005 9:42
PM
Subject: Re: [cdcbaa] Corporate BK
Absolutely it can file and in many cases it is
very beneficial to do so for the principals. It's obviously more
beneficial if there are assets for the Trustee to administer, or at least make
a determination that they are de minimis value, but there's nothing preventing
the filing of a corporate no-asset case. There will be no
discharge of debts, but it can make the wind-up of the corporation much easier
because the creditors will realize that there's nothing there, which can cut
way down on lawsuits, depositions, etc. for the principals. It also gives some closure for the principals as far as allegations of preferential
payments, etc.
***********************************************Mark J.
MarkusLaw Office of Mark J. Markus11684 Ventura Blvd. PMB
#403Studio City, CA 91604-2652(818)509-1173(818)509-1460
(fax)e-mail: bklawr@bklaw.comweb:
The post was migrated from Yahoo.
Absolutely it can file and in many cases it is very beneficial to do so for the principals. It's obviously more beneficial if there are assets for the Trustee to administer, or at least make a determination that they are de minimis value, but there's nothing preventing the filing of a corporate no-asset case. There will be no discharge of debts, but it can make the wind-up of the corporation much easier because the creditors will realize that there's nothing there, which can cut way down on lawsuits, depositions, etc. for the principals. It also gives some closure for the principals as far as allegations of preferential payments, etc.
***********************************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173
(818)509-1460 (fax)
e-mail: bklawr@bklaw.com
web: http://www.bklaw.com/
************************************************
Confidentiality Note: This e-mail is intended only for the person or
entity to which it is addressed and may contain information that is privileged,
confidential, or otherwise protected from disclosure. Dissemination,
distribution, or copying of this e-mail or the information herein by anyone
other than the intended recipient, or an employee or agent responsible for
delivering the message to the intended recipient, is prohibited. If you
have received this e-mail in error, please notify us immediately at (818)
509-1173 or e-mail us at bklawr@bklaw.com and destroy the
original message and all copies.
To: cdcbaa@yahoogroups.com
Sent: Wednesday, June 29, 2005 6:19 PM
Subject: [cdcbaa] Corporate BK
Question came up and now I am really confused:
Can a corporatation file a BK if they have no assetts but tons of debt. Client being sued individually, however, heard that corporate BK would resolve his problem....Company was a film production company, solely created for that one film. Film never got off the ground but the debts did...almost a million bucks worth!!!!
So, no assets and of course 727 (a)(1) plays in, but would a bk be helpful at all or the fact that there are no assets to orderly distribute makes the 7 of no practical use???
YAHOO! GROUPS LINKS
a.. Visit your group "cdcbaa" on the web.
b.. To unsubscribe from this group, send an email to:
cdcbaa-unsubscribe@yahoogroups.com
c.. Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
Absolutely it can file and in many cases it is very
beneficial to do so for the principals. It's obviously more beneficial if
there are assets for the Trustee to administer, or at least make a determination
that they are de minimis value, but there's nothing preventing the filing of a
corporate no-asset case. There will be no discharge of debts, but it
can make the wind-up of the corporation much easier because the creditors will
realize that there's nothing there, which can cut way down on lawsuits,
depositions, etc. for the principals. It also gives some closure for the
principals as far as allegations of preferential payments, etc.
***********************************************Mark J. MarkusLaw
Office of Mark J. Markus11684 Ventura Blvd. PMB #403Studio City, CA91604-2652(818)509-1173(818)509-1460 (fax)e-mail: bklawr@bklaw.comweb:
The post was migrated from Yahoo.
Question came up and now I am really confused:
Can a corporatation file a BK if they have no assetts but tons of debt. Client being sued individually, however, heard that corporate BK would resolve his problem....Company was a film production company, solely created for that one film. Film never got off the ground but the debts did...almost a million bucks worth!!!!
So, no assets and of course 727 (a)(1) plays in, but would a bk be helpful at all or the fact that there are no assets to orderly distribute makes the 7 of no practical use???
The post was migrated from Yahoo.