Central District Consumer Bankruptcy Attorney's Association

No Catherine:
The filing of an involuntary is like the filing of a compaint. If there is no answer, the court can take the involuntary as the only evidence presented and enter an order for relief. If there is an answer, there is a trial of the issues raised in the answer (i.e. I'm paying as bills come due, not enough creditors filed the petition, the debts are disputed.....). If the debtor wins the trial, no order for relief. If the creditors win the trial, order for relief entered.
d
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To: cdcbaa blog
Sent: Wednesday, May 2, 2012 7:29 AM
Subject: [cdcbaa] Involuntary Petition on Business
Is the filing of an involuntary petition the same as the order for relief?
Can the debtor under 303(4)(f) sell property of the business until/if an interim trustee is appointed?
Catherine Christiansen

The post was migrated from Yahoo.

I believe that 303(h) answers your first question in the negative.
The answer to your second question is yes. The alleged debtor may continue to operate as if there is no involuntary case until an order for relief is entered or an interim trustee is appointed.
Gary R. Wallace
Gladstone Michel Weisberg Willner & Sloane, ALC
4551 Glencoe Ave., Suite 300
Marina del Rey, CA 90292
Tel. (310) 821-9000
Fax (310) 775-8775
Email: gwallace@gladstonemichel.com
Web: www.gladstonemichel.com
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On May 2, 2012, at 7:29 AM, Catherine Christiansen wrote:
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> Is the filing of an involuntary petition the same as the order for relief?
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> Can the debtor under 303(4)(f) sell property of the business until/if an interim trustee is appointed?
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> Catherine Christiansen
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The post was migrated from Yahoo.

Catherine,
I know only that filing an involuntary petition is not the same thing as the order for relief, hence we get the "gap period." For more, I suggest the Code or the Rutter Guide, or the comments of others.
Link Schrader, Attorney
Law Office of Link W. Schrader

The post was migrated from Yahoo.

Is the filing of an involuntary petition the same as the order for relief?
Can the debtor under 303(4)(f) sell property of the business until/if an interim trustee is appointed?
Catherine Christiansen

The post was migrated from Yahoo.