Help me understand what this means. . .
Posted: Mon Nov 15, 2010 12:00 pm
charsetndows-1252
Who is in a position to sue the attorney that drafted those bylaws?
Just askin....
If the individual officers are named in the state court action, you could still go ahead theoretically, even while the automatic stay is in effect. But when the case is closed, following the Trustee's no asset report, the stay as to the corporation terminates.
Jason
On Nov 15, 2010, at 11:27 AM, R Grace Rodriguez wrote:
> The reason to go forward is to go after alter-ego claims. What the officers did, was start a new corporation, transferred all of the assets that the old corporation had, and then old corp filed bankruptcy. However, the bylaws for the old corporation make the individual officers personally liable for the debts of the old corporation. So since there is no discharge of the corporate debt, we are still free then to go after the personal assets of the officers.
>
> This is a case where the very wealthy officers lost a state court action for slander and for unpaid wages to the PC. The only debt they bankrupted was the state court action against the PC. And the slander was unbelievably malicious.
>
> Thank you Mark. So at what point can the state court action continue going forward now that there is a notice of no assets with respect to the corporate debtor?
>
>
> On Sun, Nov 14, 2010 at 9:17 PM, Mark J. Markus wrote:
>
> It doesn't have anything to do with a discharge. Corporations do not receive discharges in Chapter 7 cases. This is merely the Trustee's No Asset report filed in 99% of Chapter 7 cases.
>
> Claims pending in state court against a corporate debtor cannot go forward until the automatic stay terminates. After the stay terminates they are free to proceed (although why they would go after a corporate debtor that has no assets is beyond me).
>
>
> *************************
> Mark J. Markus
> Law Office of Mark J. Markus
> 11684 Ventura Blvd. PMB #403
> Studio City, CA 91604-2652
> (818)509-1173 (818)509-1460 (fax)
> web: http://www.bklaw.com/
> This Firm is a Qualified Federal Debt Relief Agency (see what this means at http://bklaw.com/bankruptcy-blog/2008/0 ... efinition/)
> ________________________________________________
> NOTICE: This Electronic Message contains information from the law office of Mark J. Markus that may be privileged. The information is intended for the use of the addressee only. If you are not the addressee, note that any disclosure, copy, distribution or use of the contents of this message is prohibited.
> IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication.
>
> On 11/14/2010 9:03 PM, R Grace Rodriguez wrote:
>>
>> "Chapter 7 Trustee's Report of No Distribution: I, John J Menchaca (TR), having been appointed trustee of the estate of the above-named debtor(s), report that I have neither received any property nor paid any money on account of this estate; that I have made a diligent inquiry into the financial affairs of the debtor(s) and the location of the property belonging to the estate; and that there is no property available for distribution from the estate over and above that exempted by law. Pursuant to Fed R Bank P 5009, I hereby certify that the estate of the above-named debtor(s) has been fully administered. I request that I be discharged from any further duties as trustee. Key information about this case as reported in schedules filed by the debtor(s) or otherwise found in the case record: This case was pending for 9 months. Assets Abandoned (without deducting any secured claims): $ 1207.04, Assets Exempt: $ 0.00, Claims Scheduled: $ 88000.00, Claims Asserted: Not Applicable, Claims scheduled to be discharged without payment (without deducting the value of collateral or debts excepted from discharge): $ 88000.00. (Menchaca (TR), John) (Entered: 09/23/2010)"
>>
>> DOES THIS MEAN:
>>
>> 1. That the debtor which is a corporation will receive a discharge?
>>
>> 2. Does that mean claims pending in state court will be barred from going forward?
>>
>> 3. Does this mean that if a debt was based on unpaid wages and a tort claim (the 88K) it is not discharged even if there is a discharge?
>>
>> I appreciate any input someone can provide.
>>
>> Thanks
>>
>> --
>> R. Grace Rodriguez, Esq.
>> OFF: (818) 734-7223
>> CEL: (323) 304-5496
>>
>> NO EX-PARTE NOTICE VIA VOICE MAIL OR EMAIL: I do not accept e-mail notice for ex parte Applications via voicemail or by email. You must comply with California Law and give notice to a person in my office during regular business hours.
>>
>> CONFIDENTIALITY STATEMENT: This message contains privileged and confidential information and is intended only for the individual named. If you are not the intended recipient you should not disseminate, distribute, store, print, copy or deliver this message. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system.
>
>
>
>
> --
> R. Grace Rodriguez, Esq.
> OFF: (818) 734-7223
> CEL: (323) 304-5496
>
> NO EX-PARTE NOTICE VIA VOICE MAIL OR EMAIL: I do not accept e-mail notice for ex parte Applications via voicemail or by email. You must comply with California Law and give notice to a person in my office during regular business hours.
>
> CONFIDENTIALITY STATEMENT: This message contains privileged and confidential information and is intended only for the individual named. If you are not the intended recipient you should not disseminate, distribute, store, print, copy or deliver this message. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system.
>
>
charsetndows-1252
Who is in a position to sue the attorney that drafted those bylaws?Just askin....If the individual officers are named in the state court action, you could still go ahead theoretically, even while the automatic stay is in effect. But when the case is closed, following the Trustee's no asset report, the stay as to the corporation terminates.JasonOn Nov 15, 2010, at 11:27 AM, R Grace Rodriguez wrote:
The reason to go forward is to go after alter-ego claims. What the officers did, was start a new corporation, transferred all of the assets that the old corporation had, and then old corp filed bankruptcy. However, the bylaws for the old corporation make the individual officers personally liable for the debts of the old corporation. So since there is no discharge of the corporate debt, we are still free then to go after the personal assets of the officers.
This is a case where the very wealthy officers lost a state court action for slander and for unpaid wages to the PC. The only debt they bankrupted was the state court action against the PC. And the slander was unbelievably malicious.
Thank you Mark. So at what point can the state court action continue going forward now that there is a notice of no assets with respect to the corporate debtor?On Sun, Nov 14, 2010 at 9:17 PM, Mark J. Markus <bklawr@yahoo.com> wrote:
It doesn't have anything to do with a discharge. Corporations
do not receive discharges in Chapter 7 cases. This is merely the
Trustee's No Asset report filed in 99% of Chapter 7 cases.
Claims pending in state court against a corporate debtor cannot go
forward until the automatic stay terminates. After the stay
terminates they are free to proceed (although why they would go
after a corporate debtor that has no assets is beyond me).
*************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency (see what this
means at
http://bklaw.com/bankruptcy-blog/2008/0 ... efinition/)
________________________________________________
NOTICE: This Electronic Message contains information from the law
office of Mark J. Markus that may be privileged. The information
is intended for the use of the addressee only. If you are not the
addressee, note that any disclosure, copy, distribution or use of
the contents of this message is prohibited.
IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements
imposed by the IRS, we inform you that any U.S. tax advice
contained in this communication (or in any attachment) is not
intended or written to be used, and cannot be used, for the
purpose of (i) avoiding penalties under the Internal Revenue Code
or (ii) promoting, marketing or recommending to another party any
transaction or matter addressed in this communication.
On 11/14/2010 9:03 PM, R Grace Rodriguez wrote:
"Chapter 7 Trustee's Report
of No Distribution: I, John J Menchaca (TR), having been appointed
trustee of the estate of the above-named debtor(s), report that I
have neither received any property nor paid any money on account
of this estate; that I have made a diligent inquiry into the
financial affairs of the debtor(s) and the location of the
property belonging to the estate; and that there is no property
available for distribution from the estate over and above that
exempted by law. Pursuant to Fed R Bank P 5009, I hereby certify
that the estate of the above-named debtor(s) has been fully
administered. I request that I be discharged from any further
duties as trustee. Key information about this case as reported in
schedules filed by the debtor(s) or otherwise found in the case
record: This case was pending for 9 months. Assets Abandoned
(without deducting any secured claims): $ 1207.04, Assets Exempt:
$ 0.00, Claims Scheduled: $ 88000.00, Claims Asserted: Not
Applicable, Claims scheduled to be discharged without payment
(without deducting the value of collateral or debts excepted from
discharge): $ 88000.00. (Menchaca (TR), John) (Entered:
09/23/2010)"
DOES THIS MEAN:
1. That the debtor which is a corporation will receive a
discharge?
2. Does that mean claims pending in state court will be barred
from going forward?
3. Does this mean that if a debt was based on unpaid wages and a
tort claim (the 88K) it is not discharged even if there is a
discharge?
I appreciate any input someone can provide.
Thanks
--
R. Grace Rodriguez, Esq.
OFF: (818) 734-7223
CEL: (323) 304-5496
NO EX-PARTE NOTICE VIA VOICE MAIL OR EMAIL: I do not accept
e-mail notice for ex parte Applications via voicemail or by email.
You must comply with California Law and give notice to a person in
my office during regular business hours.
CONFIDENTIALITY STATEMENT: This message contains privileged and
confidential information and is intended only for the individual
named. If you are not the intended recipient you should not
disseminate, distribute, store, print, copy or deliver this
message. Please notify the sender immediately by e-mail if you
have received this e-mail by mistake and delete this e-mail from
your system.
-- R. Grace Rodriguez, Esq.OFF: (818) 734-7223CEL: (323) 304-5496NO EX-PARTE NOTICE VIA VOICE MAIL OR EMAIL: I do not accept e-mail notice for ex parte Applications via voicemail or by email. You must comply with California Law and give notice to a person in my office during regular business hours.
CONFIDENTIALITY STATEMENT: This message contains privileged and confidential information and is intended only for the individual named. If you are not the intended recipient you should not disseminate, distribute, store, print, copy or deliver this message. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system.
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