possible objections against proof of claim filed in bk of guarantor
Posted: Wed Oct 30, 2013 2:54 pm
I'm looking for grounds to object to a proof of claim filed by a bank in
the Chapter 7 case (Asset) of the individual who guaranteed the debt of a
corporation of which he is a shareholder. The corporate debtor is current
with the payments; so, the only potential basis to call a default is the BK
of the guarantor. I keep hitting my head against Section 365(e)(1), which
takes away the ipso facto clause defense when dealing with a loan contract
or other financial accommodation. Any ideas?
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
WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
I'm looking for grounds to object to a proof of claim filed by a bank in the Chapter 7 case (Asset) of the individual who guaranteed the debt of a corporation of which he is a shareholder. The corporate debtor is current with the payments; so, the only potential basis to call a default is the BK of the guarantor. I keep hitting my head against Section 365(e)(1), which takes away the ipso facto clause defense when dealing with a loan contract or other financial accommodation. Any ideas?
-- Giovanni Orantes, Esq.Certified Bankruptcy Specialist* Orantes Law Firm, P.C.3435 Wilshire Blvd. Suite 2920Los Angeles, CA 90010Tel: (213) 389-4362
Fax: (877) 789-5776e-mail: go@gobklaw.comwebsite: www.gobklaw.com*Board Certified - Business Bankruptcy Law - American Board of Certification
*Board Certified - Consumer Bankruptcy Law - American Board of CertificationWE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
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