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Chapter 11 Questions
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________________________________
Orantes go@gobklaw.com [cdcbaa]
Sent: Monday, August 21, 2017 4:51:48 PM
To: cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] Chapter 11 Questions
Who is your Judge?
On Mon, Aug 21, 2017 at 4:47 PM, David Tilem DavidTilem@TilemLaw.com [cdcbaa] wrote:
Corporation has filed C11
Corporation has only 2 shareholders: Mr. and Mrs. X
Estate includes 50% interest in single family residence (SFR)
Mrs. X has owned the other 50% interest in SFR at all relevant times
Mr. and Mrs. X have lived in SFR at all relevant times
Assume that I have an unrelated consenting impaired class
Assume no equity in SFR
Assume liquidation value of estate is $0
Questions:
1. Can Plan restructure the loan despite only 50% ownership?
2. Can Plan restructure loan even though shareholder/resident owns the other 50%?
3. Can I strip junior liens despite only 50% ownership?
4. Do I need Court approval for Mrs. X to transfer her 50% of SFR to the debtor without consideration while case is pending?
David A. Tilem
Certified Bankruptcy Specialist Since 1997
Law Offices of David A. Tilem
206 N. Jackson St., #201
Glendale, CA 91206
Tel: 818-507-6000 * Fax: 818-507-6800
Toll Free: 888-BK PRO 4U (888-257-7648)
www.TilemLaw.com
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Giovanni Orantes, Esq.*
Orantes Law Firm, P.C.
3435 Wilshire Blvd. Suite 2920
Los Angeles, CA 90010
Tel: (213) 389-4362
Fax: (877) 789-5776
e-mail: go@gobklaw.com
website: www.gobklaw.com
*Certified Bankruptcy Specialist, State Bar of California, Board of Legal Specialization
*Board Certified - Business Bankruptcy Law - American Board of Certification
*Board Certified - Consumer Bankruptcy Law - American Board of Certification
Commercial Litigation
Estate Planning
Outside General Counsel
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Who is your Judge?
On Mon, Aug 21, 2017 at 4:47 PM, David Tilem DavidTilem@TilemLaw.com
[cdcbaa] wrote:
>
>
> Corporation has filed C11
>
> Corporation has only 2 shareholders: Mr. and Mrs. X
>
> Estate includes 50% interest in single family residence (SFR)
>
> Mrs. X has owned the other 50% interest in SFR at all relevant times
>
> Mr. and Mrs. X have lived in SFR at all relevant times
>
> Assume that I have an unrelated consenting impaired class
>
> Assume no equity in SFR
>
> Assume liquidation value of estate is $0
>
>
>
> Questions:
>
> 1. Can Plan restructure the loan despite only 50% ownership?
> 2. Can Plan restructure loan even though shareholder/resident owns the
> other 50%?
> 3. Can I strip junior liens despite only 50% ownership?
> 4. Do I need Court approval for Mrs. X to transfer her 50% of SFR to
> the debtor without consideration while case is pending?
>
>
>
> *David A. Tilem*
>
> *Certified Bankruptcy Specialist Since 1997*
>
> Law Offices of David A. Tilem
>
> 206 N. Jackson St., #201
>
> Glendale, CA 91206
>
> Tel: 818-507-6000 * Fax: 818-507-6800
>
>
> Toll Free: 888-BK PRO 4U (888-257-7648 )
>
> www.TilemLaw.com
>
>
>
> [image: square-facebook-24] [image:
> square-twitter-24] [image:
> square-linkedin-24]
> [image:
> square-google-plus-24]
>
>
>
>
> [image: cid:image005.png@01D0C939.A54B78D0] [image:
> cid:image006.png@01D0C939.A54B78D0] [image: SL]
>
> [image: AVVO]
>
> [image: av]
>
>
>
>
>
>
> The pages comprising this transmission may contain CONFIDENTIAL
> INFORMATION from Law Offices of David A. Tilem. This information is
> intended solely for use by the individual or entity named as the recipient
> hereof. If you are not the intended recipient, be aware that any
> disclosure, copying, distribution, or use of the contents of this
> transmission is prohibited. If you have received this transmission in
> error, please notify us by telephone immediately so we may arrange and
> correct this transmission.
>
>
>
>
>
WE DO NOT ACCEPT SERVICE BY EMAIL UNLESS WE HAVE AGREED TO ACCEPT IT IN
WRITING.
Giovanni Orantes, Esq.*
Orantes Law Firm, P.C.
3435 Wilshire Blvd. Suite 2920
Los Angeles, CA 90010
Tel: (213) 389-4362
Fax: (877) 789-5776
e-mail: go@gobklaw.com
website: www.gobklaw.com
**Certified Bankruptcy Specialist, State Bar of California, Board of Legal
Specialization*
*Board Certified - Business Bankruptcy Law - American Board of Certification
*Board Certified - Consumer Bankruptcy Law - American Board of Certification
Commercial Litigation
Estate Planning
Outside General Counsel
WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN BERNARDINO
AND SANTA BARBARA AND THE WORLD FOR CHAPTER 11 AND 15 CASES.
Note: The information in this e-mail message is not intended to be legal
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Who is your Judge? On Mon, Aug 21, 2017 at 4:47 PM, David Tilem DavidTilem@TilemLaw.com [cdcbaa] <cdcbaa@yahoogroups.com> wrote:
Corporation has filed C11
Corporation has only 2 shareholders: Mr. and Mrs. X
Estate includes 50% interest in single family residence (SFR)
Mrs. X has owned the other 50% interest in SFR at all relevant times
Mr. and Mrs. X have lived in SFR at all relevant times
Assume that I have an unrelated consenting impaired class
Assume no equity in SFR
Assume liquidation value of estate is $0
Questions:
Can Plan restructure the loan despite only 50% ownership?Can Plan restructure loan even though shareholder/resident owns the other 50%?Can I strip junior liens despite only 50% ownership?Do I need Court approval for Mrs. X to transfer her 50% of SFR to the debtor without consideration while case is pending?
David A. Tilem
Certified Bankruptcy Specialist Since 1997
Law Offices of David A. Tilem
206 N. Jackson St., #201
Glendale, CA 91206
Tel: 818-507-6000 * Fax: 818-507-6800
Toll Free: 888-BK PRO 4U (888-257-7648)
www.TilemLaw.com
The post was migrated from Yahoo.
Corporation has filed C11
Corporation has only 2 shareholders: Mr. and Mrs. X
Estate includes 50% interest in single family residence (SFR)
Mrs. X has owned the other 50% interest in SFR at all relevant times
Mr. and Mrs. X have lived in SFR at all relevant times
Assume that I have an unrelated consenting impaired class
Assume no equity in SFR
Assume liquidation value of estate is $0
Questions:
1. Can Plan restructure the loan despite only 50% ownership?
2. Can Plan restructure loan even though shareholder/resident owns the other 50%?
3. Can I strip junior liens despite only 50% ownership?
4. Do I need Court approval for Mrs. X to transfer her 50% of SFR to the debtor without consideration while case is pending?
David A. Tilem
Certified Bankruptcy Specialist Since 1997
Law Offices of David A. Tilem
206 N. Jackson St., #201
Glendale, CA 91206
Tel: 818-507-6000 * Fax: 818-507-6800
Toll Free: 888-BK PRO 4U (888-257-7648)
www.TilemLaw.com
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[cid:image005.png@01D0C939.A54B78D0] [cid:image006.png@01D0C939.A54B78D0] [SL] [AVVO] [av]
The pages comprising this transmission may contain CONFIDENTIAL INFORMATION from Law Offices of David A. Tilem. This information is intended solely for use by the individual or entity named as the recipient hereof. If you are not the intended recipient, be aware that any disclosure, copying, distribution, or use of the contents of this transmission is prohibited. If you have received this transmission in error, please notify us by telephone immediately so we may arrange and correct this transmission.
The post was migrated from Yahoo.