Tag Archives: bad faith
Overcoming Creditors’ Objections to Chapter 11 Plan Confirmation
Chapter 11 bankruptcy is a legal remedy that allows businesses, both large and small, to reorganize and continue their operations while relieving some of their financial difficulties. The U.S. Bankruptcy Code requires that under a Chapter 11 reorganization plan, each creditor will receive at least as much as they would have in a Chapter 7 […]
When Can a Creditor Get Relief from the Bankruptcy Automatic Stay?
One of the most powerful features of the bankruptcy code is the automatic stay that goes into effect once a debtor’s petition is filed in court. The automatic stay prevents creditors from taking further action to enforce most debt obligations. The purpose is to give the debtor some time to reorganize or to discharge debts […]
Understanding Bankruptcy Fraud and Its Consequences
While the bankruptcy law is intended to give people a fresh start by wiping out their debts, at the same time it contains protections against abuse of the system. Debtors filing for bankruptcy are required to completely and accurately disclose their assets, income, debts and other finances. The law includes sanctions for a debtor who […]
