Needed: Chapter 11 Counsel where PC has large judgment against him
Posted: Fri Nov 05, 2010 12:07 pm
I represented a judgment creditor once where the debtor had posted a bond. My client would not drop the demand one cent - he told me several times that he was earning 10% on this "investment" which is guaranteed because of the bond so why take less. We had to jump through a few hoops but eventually got every cent. Jon
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> Wouldn't that be non-dischargeable? Attachment of bond security interest would relate back. This creditor would also control - unless you have an impaired class, and even then.
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> Creditor would also file for relief - in this instance (cash bond as opposed to a residence) tough to beat, my humble opinion.
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> On another note WOW $6.5m for malicious prosecution that was then affirmed on appeal? May not be considered a "nice person and probably the type to illicit a Chapter 11 Trustee.
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> Good Luck, I thought you did 11s.
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> CS
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> Sent from my iPhone
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> On Nov 4, 2010, at 8:48 AM, "Kenneth Schwartz" wrote:
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> Former client (I represented him in various real estate matters) has asked me to assist him in procuring Chapter 11 counsel. His situation is that he lost a case wherein a $6.5 million malicious prosecution judgment was awarded against him. He put up a $8 million cash bond for appeal, and the appellate court affirmed the judgment yesterday.
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> His query is does he have any flexibility, or are there any advantages in an 11 vis-a-vis the judgment creditor?
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The post was migrated from Yahoo.