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Chapter 11 experts panel: FTB suspension
That is what I thought.
Sent from my Stella Havkin's iPad
On Jul 3, 2013, at 9:06 PM, stephenburtonlaw@yahoo.com wrote:
> Corporation does not need to be in good standing to file bk in federal bankruptcy court. The business and profession code sections are california law dealing with a california corporation being able to use state courts.
>
> Sent via BlackBerry by AT&T
> Sender: cdcbaa@yahoogroups.com
> Date: Wed, 3 Jul 2013 19:50:11 -0400
> To: cdcbaa@yahoogroups.com
> ReplyTo: cdcbaa@yahoogroups.com
> Subject: Re: [cdcbaa] Chapter 11 experts panel: FTB suspension
>
>
> It's not!
>
>
>
> Jonathan Leventhal, Esq..
> Leventhal Law Group, P.C.
> 818-347-5800
>
> NO EX-PARTE NOTICE VIA VOICE MAIL OR EMAIL: I do not accept e-mail notice for ex parte Applications via voicemail or by email. You must comply with California Law and give notice to a person in my office during regular business hours.
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>
> On Jul 3, 2013, at 4:41 PM, "Stella Havkin" wrote:
>
>>
>> Question on a similar issue. My corporate debtor filed an asset chapter 7. At the time of the filing, it was in good standing. The assets were sold but now a year later, a creditor has filed a motion to dismiss the case because since the filing the corporation has been suspended. Any ideas if this is accurate?
>>
>>
>>
>> Stella
>>
>>
>>
f Jason Wallach
>> Sent: Thursday, August 30, 2012 9:35 AM
>> To: cdcbaa@yahoogroups.com
>> Subject: [cdcbaa] Chapter 11 experts panel: FTB suspension
>>
>>
>>
>>
>>
>> Prospective California corporate debtor is currently suspended for failure to pay corporate income taxes to FTB.
>> Working on a payment plan with FTB but they say they won't "revive" until the payment plan is completed. Other creditors threatening, and lawsuits pending that need to be stayed.
>> Does any one think (or better, have experience) whether, once in Chapter 11, debtor in possession can force/compel/order FTB to revive and restore to good standing, preconfirmation, either via first day motion or noticed motion, 105????
>> Problem is that suspended corporation lacks the capacity to even enter contracts. And if not, FTB suspension basically trumps reorganization.
>> Or different resolution with FTB to allow revivor??
>> All suggestions welcome.
>> Thanks!
>> Jason
>>
>> Jason Wallach
>> jwallach@gladstonemichel.com
>>
>
>
The post was migrated from Yahoo.
Question on a similar issue. My corporate debtor filed an asset chapter 7.
At the time of the filing, it was in good standing. The assets were sold
but now a year later, a creditor has filed a motion to dismiss the case
because since the filing the corporation has been suspended. Any ideas if
this is accurate?
Stella
The post was migrated from Yahoo.
Assuming youre not worried about criminal consequences of representing a
suspended corporation, which I do not know much about, my inexperienced
suggestion is as follows:
No jurisdiction / standing issues, like you said, FTB suspension would trump
reorg, not something congress would be happy with. In this case FTB won, but
Debtor was planning to liquidate under 11.
The post was migrated from Yahoo.
Prospective California corporate debtor is currently suspended for failure to pay corporate income taxes to FTB.
Working on a payment plan with FTB but they say they won't "revive" until the payment plan is completed. Other creditors threatening, and lawsuits pending that need to be stayed.
Does any one think (or better, have experience) whether, once in Chapter 11, debtor in possession can force/compel/order FTB to revive and restore to good standing, preconfirmation, either via first day motion or noticed motion, 105????
Problem is that suspended corporation lacks the capacity to even enter contracts. And if not, FTB suspension basically trumps reorganization.
Or different resolution with FTB to allow revivor??
All suggestions welcome.
Thanks!
Jason
Jason Wallach
jwallach@gladstonemichel.com
The post was migrated from Yahoo.