.jpg)
Chapter 11 - selling real property to pay the plan - questions
Does anyone have a sample Chapter 11 real estate sale motion they are
willing to share?
Holly Roark
Certified Bankruptcy Specialist*
*and Sports Lawyer*
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
**Counsel for Chapter 13 Trustee Kathleen A. McCallister (Idaho) T (208)
922-5100
On Thu, Apr 30, 2015 at 12:45 PM, cdcbaa cdcbaamailbox@gmail.com [cdcbaa] wrote:
>
>
> Holly:
>
> The answers you have gotten are correct. Write a motion to sell. It can
> take months to get a plan confirmed, but only 21 days to approve a sale.
> Once sale is completed, much easier to confirm a plan as feasibility issues
> for speculative sale, but few issues when cash is in the bank.
>
> dennis
>
> Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503
> 310-328-1001-voice
> [image: cid:part1.03050307.05030101@bklaw.com]
>
> On Apr 30, 2015, at 11:10 AM, 'Peter M. Lively' petermlively2000@yahoo.com
> [cdcbaa] wrote:
>
>
>
> You aren't selling pursuant to a confirmed plan, so bring a motion for
> authorization to sell.
>
> Peter M. Lively, J.D., M.B.A.
> Law Office of Peter M. Lively * Personal Financial Law Center I
> 11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
> Telephone: (310) 391-2400 * Toll Free: (800) 307-3328 * Fax: (310)
> 391-2462
>
>
>
> On Thursday, April 30, 2015 11:05 AM, "Holly Roark
> hollyroark22@gmail.com [cdcbaa]" wrote:
>
>
>
> Hello, I have had a Chapter 11 open for two years with no confirmed plan
> yet. We had to file a new plan to liquidate some property in lieu of our
> original plan which was to bring in some cash via business dealings.
>
> Disclosure hearing is next week. Secured lender is on board with the Plan.
>
> We have a court order employing the Broker.
>
> We now have a signed purchase and sale agreement for the property, and of
> course buyers are informed of the Chapter 11.
>
> Do I: file a motion to sell the property now? It's already in the new Plan
> that we're selling the property. This plan of course has not been voted on
> because the disclosure statement has not yet been approved.
>
> I need a little guidance as to how to proceed at this point. Thank you!
>
>
> Holly Roark
> Certified Bankruptcy Specialist*
> *and Sports Lawyer*
> 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
> **Counsel for Chapter 13 Trustee Kathleen A. McCallister (Idaho) T (208)
> 922-5100
>
>
>
>
Does anyone have a sample Chapter 11 real estate sale motion they are willing to share?Holly RoarkCertified Bankruptcy Specialist*and Sports Lawyer
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
The post was migrated from Yahoo.
Holly:
The answers you have gotten are correct. Write a motion to sell. It can take months to get a plan confirmed, but only 21 days to approve a sale. Once sale is completed, much easier to confirm a plan as feasibility issues for speculative sale, but few issues when cash is in the bank.
dennis
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
> On Apr 30, 2015, at 11:10 AM, 'Peter M. Lively' petermlively2000@yahoo.com [cdcbaa] wrote:
>
> You aren't selling pursuant to a confirmed plan, so bring a motion for authorization to sell.
>
> Peter M. Lively, J.D., M.B.A.
> Law Office of Peter M. Lively * Personal Financial Law Center I
> 11268 Washington Boulevard, Suite 203, Culver City, California 90230-4647
> Telephone: (310) 391-2400 * Toll Free: (800) 307-3328 * Fax: (310) 391-2462
>
>
>
> On Thursday, April 30, 2015 11:05 AM, "Holly Roark hollyroark22@gmail.com [cdcbaa]" wrote:
>
>
>
> Hello, I have had a Chapter 11 open for two years with no confirmed plan yet. We had to file a new plan to liquidate some property in lieu of our original plan which was to bring in some cash via business dealings.
>
> Disclosure hearing is next week. Secured lender is on board with the Plan.
>
> We have a court order employing the Broker.
>
> We now have a signed purchase and sale agreement for the property, and of course buyers are informed of the Chapter 11.
>
> Do I: file a motion to sell the property now? It's already in the new Plan that we're selling the property. This plan of course has not been voted on because the disclosure statement has not yet been approved.
>
> I need a little guidance as to how to proceed at this point. Thank you!
>
>
> Holly Roark
> Certified Bankruptcy Specialist*
> and Sports Lawyer
> 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
> **Counsel for Chapter 13 Trustee Kathleen A. McCallister (Idaho) T (208) 922-5100
>
>
>
type="text/html";
boundaryple-Mail-27E00A42-8D3B-4F4C-BACB-1AD8D91DA421
The post was migrated from Yahoo.
Though most judges will want some overbid procedures approved ahead of time
to ensure the property fetches the highest possible price.
Giovanni Orantes, Esq.*
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
**Certified Bankruptcy Specialist, State Bar of California, Board of Legal
Specialization*
*Board Certified - Business Bankruptcy Law - American Board of Certification
*Board Certified - Consumer Bankruptcy Law - American Board of Certification
Commercial Litigation
Estate Planning
Outside General Counsel
WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN BERNARDINO
AND SANTA BARBARA AND THE WORLD FOR CHAPTER 11 AND 15 CASES.
Though most judges will want some overbid procedures approved ahead of time to ensure the property fetches the highest possible price.-- Giovanni Orantes, Esq.*Orantes Law Firm, P.C.3435 Wilshire Blvd. Suite 2920Los Angeles, CA 90010Tel: (213) 389-4362Fax: (877) 789-5776e-mail: go@gobklaw.comwebsite: www.gobklaw.com*Certified Bankruptcy Specialist, State Bar of California, Board of Legal Specialization*Board Certified - Business Bankruptcy Law - American Board of Certification*Board Certified - Consumer Bankruptcy Law - American Board of CertificationCommercial LitigationEstate PlanningOutside General Counsel
The post was migrated from Yahoo.
Hello, I have had a Chapter 11 open for two years with no confirmed plan
yet. We had to file a new plan to liquidate some property in lieu of our
original plan which was to bring in some cash via business dealings.
Disclosure hearing is next week. Secured lender is on board with the Plan.
We have a court order employing the Broker.
We now have a signed purchase and sale agreement for the property, and of
course buyers are informed of the Chapter 11.
Do I: file a motion to sell the property now? It's already in the new Plan
that we're selling the property. This plan of course has not been voted on
because the disclosure statement has not yet been approved.
I need a little guidance as to how to proceed at this point. Thank you!
Holly Roark
Certified Bankruptcy Specialist*
*and Sports Lawyer*
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
**Counsel for Chapter 13 Trustee Kathleen A. McCallister (Idaho) T (208)
922-5100
Hello, I have had a Chapter 11 open for two years with no confirmed plan yet. We had to file a new plan to liquidate some property in lieu of our original plan which was to bring in some cash via business dealings.Disclosure hearing is next week. Secured lender is on board with the Plan.We have a court order employing the Broker.We now have a signed purchase and sale agreement for the property, and of course buyers are informed of the Chapter 11.Do I: file a motion to sell the property now? It's already in the new Plan that we're selling the property. This plan of course has not been voted on because the disclosure statement has not yet been approved. I need a little guidance as to how to proceed at this point. Thank you!Holly RoarkCertified Bankruptcy Specialist*and Sports Lawyer
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
The post was migrated from Yahoo.