Central District Consumer Bankruptcy Attorney's Association

You do come up with some interesting questions. It all depends on who you
represent. I think there is room for all the arguments you mention and you
would file a complaint and push hard either to win or force settlement.
On Wed, Sep 18, 2013 at 4:17 PM, Holly Roark wrote:
> **
>
>
> In a chapter 7 sale of assets are these two provisions contradictory? "as
> is; where is; without representations or warranties, express or implied"
> AND "free and clear of any and all liens, claims, and interests pursuant
> to 11 U.S.C. 363(b) and (f)".
> I am trying to figure out what "as is where is" really means, when it
> also says the asset is "free and clear" of liens, claims and interests.
> What if someone bought a controlling share of a company by purchasing the
> stock of the major stockholder in that major stockholder's chapter 7. The
> other shareholders of the company filed a nondischargeability action
> against the debtor and obtained a nondischargeable judgment for the fraud
> the debtor committed with respect to these shareholder's shares.
>
> Is the purchaser of the shares (who is now the major shareholder) able to
> be sued to reapportion the shares based on the debtor's fraud, and based on
> the fact that he purchased the shares "as is where is"? It seems to me
> since there is no warranty as to the actual number of shares or value of
> the shares that those shares could be attacked by the other shareholders.
> However, perhaps not, if what they want falls under "free and clear of any
> and all liens, claims, and interests."
>
> Can anyone clarify?
>
>
> Holly Roark
> Certified Bankruptcy Specialist*
> holly@roarklawoffices.com **primary email address**
> www.roarklawoffices.com
> Central District of California
> Consumer Bankruptcy Attorney
> 1875 Century Park East, Suite 600
> Los Angeles, CA 90067
> T (310) 553-2600
> F (310) 553-2601
>
> *By State Bar of California Board of Legal Specialization
>
>
> **For a quicker response, email me at holly@roarklawoffices.com.
> I only use gmail for my listservs, and am likely to miss private emails
> directed to my gmail account.**
>
>
>
>
> --
> Holly Roark
> Certified Bankruptcy Specialist*
> holly@roarklawoffices.com **primary email address**
> www.roarklawoffices.com
> Central District of California
> Consumer Bankruptcy Attorney
> 1875 Century Park East, Suite 600
> Los Angeles, CA 90067
> T (310) 553-2600
> F (310) 553-2601
>
> *By State Bar of California Board of Legal Specialization
>
>
> **For a quicker response, email me at holly@roarklawoffices.com.
> I only use gmail for my listservs, and am likely to miss private emails
> directed to my gmail account.**
>
>
>
>
Giovanni Orantes, Esq.
Certified Bankruptcy Specialist*
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
*Board Certified - Business Bankruptcy Law - American Board of Certification
*Board Certified - Consumer Bankruptcy Law - American Board of Certification
You do come up with some interesting questions. It all depends on who you represent. I think there is room for all the arguments you mention and you would file a complaint and push hard either to win or force settlement.
On Wed, Sep 18, 2013 at 4:17 PM, Holly Roark <hollyroark22@gmail.com> wrote:
In a chapter 7 sale of assets are these two provisions contradictory? "as is; where is; without representations or warranties, express or implied" AND "free and clear of any
The post was migrated from Yahoo.