SBE lien in a ch 11 plan
Posted: Fri Apr 25, 2014 6:08 pm
List Mates,
I have a prospective client who owns a property to which State Board of
Equalization has attached a lien.
The property is worth about $500K, and the lien is about $600K.
I don't have all the facts, but the debt may be nondischargeable because
the PC did not file the returns.
1. Does anyone have experience with the SBE in this type of situation?
2. Has anyone seen SBE voluntarily convert a lien into a mortgage?
3. Has anyone used a chapter 11 plan to convert an SBE lien into a
mortgage? The SBE interest rate is currently 6%, so it's not very
different from the private deals being made now.
Thanks,
Alik Segal
Alik.Segal@gmail.com
310-362-6157
California Central District
List Mates,I have a prospective client who owns a property to which State Board of Equalization has attached a lien.The property is worth about $500K, and the lien is about $600K.
I don't have all the facts, but the debt may be nondischargeable because the PC did not file the returns. 1. Does anyone have experience with the SBE in this type of situation? 2.3. Has anyone used a chapter 11 plan to convert an SBE lien into a mortgage? The SBE interest rate is currently 6%, so it's not very different from the private deals being made now.Thanks,
-- Alik SegalAlik.Segal@gmail.com310-362-6157California Central District
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