Chapter 12 Bankruptcy

Should you be having trouble repaying your payday loan, usually do not pay a 2nd 1 to repay the first one. Becoming a member of another (or third) loan only runs the deal and places you more deeply into credit card debt. And when you sign up for the payday loan just before personal bankruptcy, the bank may well concern the individual bankruptcy relieve the loan reasoning that you just coppied without any aim of paying the loan. Should you be considering bankruptcy and when for reasons uknown you can not document straight away (fiscal or else) speak to the payday loan loan company and request a settlement set up or perhaps off shoot of your time to pay for.
Source: banffhotels.me

Video: The Office – I declare bankruptcy! Michael Scott

Avoiding financial problems after declaring bankruptcy

Consumers need to start a new habit of paying all of their bills on time. They need to avoid running up additional credit-card debt. If they do these two things, over time their credit scores will improve. Consumers should be careful, too, to avoid working with companies that promise they can rebuild credit scores instantly. This simply isn’t possible, and companies that promise it are obviously running a scam. The Chronicle story says that it’s important, too, for consumers to take the steps necessary to avoid ending up in financial trouble again. It’s easy for consumers to make the same bad spending decisions that led them to declare bankruptcy in the first place. What is more difficult is for consumers to carefully track and watch every dollar they spend and to set up a realistic household budget. While many may find this to be difficult, it will also likely prove to be rewarding. Those consumers who change their financial habits will find that their bankruptcy problems will soon be behind them.
Source: miamibankruptcylawfirmblog.com

Gyms Declare Bankruptcy as Americans Cut Expenses

As Americans look to cut expenses from their monthly budgets in light of a troubled economy, gym memberships are often among the first to go. In a poll conducted by Yahoo! Health and Reader’s Digest, reported this March on BusinessNewsDaily.com, 21 percent of respondents said that they couldn’t afford a gym membership, and “that they’d rather gain weight than take on more debt.” It is perhaps this mindset and lack of disposable funds that have led to a slew of gyms declaring bankruptcy in recent years—including Bally Total Fitness in 2007, a couple of Gold’s Gym franchises in 2011, and the upscale David Barton chain in New York.
Source: illinois-bankruptcy-law-blog.com

WHY DO SO MANY PROFESSIONAL ATHLETES DECLARE BANKRUPTCY SHORTLY AFTER RETIRING?

This is a question often raised and the answer is pretty simple. They don’t have a Bobby Brett to handle their finances, as he did for his brother George. When George was playing for the Kansas City Royals, I lived in Kansas City and owned an advertising agency and on occasion hired George to do commercials for my clients. And in order to get that accomplished, I had to go through Bobby, who was his financial adviser and confident. Bobby was a tough person to deal with but he was always straight forward with me and was always truthful. And I believe it was because of his diligence in handling George’s cash flow that helped George to be as successful as he was. When he came to bat, he never worried about his finances because he knew he had Bobby in his corner. Today, both are multi-millionaires and own a couple of minor league baseball franchises in the northwest United States.
Source: mindoversports.com

Significance of Bankruptcy Attorney

The significance of bankruptcy attorney is widely known all over the world. Through this, various lawyers may take places. If you want to get rid of any fraud and low-performing lawyer, make sure that you completely examine your preferred bankruptcy attorney. This action surely provides a positive result if you are having trouble with business proceedings.
Source: mhtachapter.org

The cost of bankruptcy rose sharply following passage of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act, which introduced sweeping reforms to the bankruptcy process. These changes include mandatory credit counseling and financial education courses, additional legal documents, increased filing fees and an updated “means test” to determine bankruptcy eligibility. The burden of paying for all of these added requirements, including the increased attorney hours needed to prepare the filing, falls to the debtor.
Source: businessinsider.com

Video: Florida Bankruptcy Attorney Fees

Bankruptcy Attorney Fees – Determining Its Factors and Start Analyzing

If you are planning to hire bankruptcy attorney, it is a must to understand their fees. Charges for every attorney usually differ depending on their offered services. One of the main factors that you have to consider is the operational costs. Costs like electricity bills, rent and office maintenance generally determine the real fees of bankruptcy attorney.
Source: ecoledeladecision.com

Affordable Arizona Bankruptcy Lawyers

My partner Andrea Wimmer and I volunteer at the Phoenix Bankruptcy Court Self Help Center, advising pro se debtors (people who file without an attorney) on their cases.  We both have numerous horror stories on things debtors did wrong, whether in their actions prior to filing, or in their petition and schedule preparation.  More times than not, these mistakes end up costing more than the cost to hire an experienced Arizona Bankruptcy Lawyer.  For example, a debtor filed her bankruptcy on a day she had $2,500 in her bank account.  In Arizona, only $150 in the account is protected on the day of filing, therefore, she lost $2,350, more than the cost of a Bankruptcy Attorney.
Source: drbankruptcyaz.com

Chapter 7 filing fees a stretch for many who need debt relief

Some would say the intent of the 2005 bankruptcy amendments did not accomplish what was intended. For instance, while Chapter 7 and other filings did fall after the new law went into effect, the change in the rate of bankruptcies was minimal, from 1.4 percent in 2004 to 1.3 percent last year. The result is that the new regulations require more work, with a greater chance for dismissal of a petition if the requirements are not met. Nevertheless, it remains an important safeguard to those in Alabama and elsewhere who have seen their financial stability vanish and are searching for an orderly means to conquer debt and lay the groundwork for a new beginning.
Source: ericwilsonlaw.com

In a report set to be released this week, MFY Legal Services shows that foreclosure-mill law firms are still failing to file required documents in an astonishing 43 percent of foreclosure cases started in November 2010 and March 2011. The percentage was even higher for cases in October 2011. These trends suggest that as many as 5,200 of 12,142 residential foreclosures begun in New York last year are languishing in limbo.
Source: blogspot.com

Video: San Bernadino Foreclosure Lawyer

Opt For a Foreclosure Lawyer Lancaster PA to Save You Any Hassles

The first foreclosure law is the judicial law.  With this law, the lender is required to take you, the homeowner, to court to sue for the right of foreclosure. In this scenario, you are best advised to hire a foreclosure lawyer immediately so that they can try and prevent you from losing your house. The second law under foreclosure is the non-judicial law. This is considered to be the tougher one as the lending institution that you are dealing with is not even required to take you to court to sue for the right of foreclosure. Instead, all the lending institution is required to do is serve you with a notice twenty-one days prior to the foreclosure. Once the twenty-one days are done, they can go ahead, evict you from the property, and take ownership of the home. This happens to be very hard on homeowners as you barely have the time to go to court requesting for foreclosure relief. Your best bet would be to speedily enlist the services of a foreclosure lawyer and hope that they can come to the rescue in time.
Source: submitarticle.us

Can you be "too broke" to file bankruptcy?

Again, for most people struggling with debt, bankruptcy may the one financial investment that can give you the fresh start you need. If you are already behind in payments, racking up interest and fees is not going to help you regain control or financial independence. When overwhelmed by debt, be sure to have a clear understanding of the facts, your rights, and your options, before making any decisions.
Source: orlandobankruptcylawblog.com

California Foreclosure Law: New Mortgage Laws Introduced

As one of the hardest hit states in the foreclosure crisis, California homeowners have had their fair share of mortgage debt troubles. Robo-signing, unlawful foreclosures, sinking property values and high numbers of abandoned homes have all plagued California residents over the last few years. As the mortgage lending industry continues to be policed by federal regulatory agencies, there is some sign of improvement. However, California lawmakers are considering a new bill package that is aimed at better protecting homeowners and increased regulations for lenders.
Source: foreclosurebusinessnews.com

Restaurant clashes with neighbors in unusual contract case

The parties are a restaurant and a group of residents from the restaurant’s surrounding neighborhood. About five years ago, the restaurant wanted to expand its operations by opening a sidewalk café. On top of that, the restaurant wanted to serve liquor in the outdoor section; the owners applied for a license transfer with the local Alcoholic Beverage Control Board.
Source: batonrougerealestateattorney.com

Katy Bankruptcy Lawyer to Prohibit Foreclosure

At the same time, the Katy bankruptcy lawyer has dexterity and knowledge to handle bankruptcy cases of those bankrupts that have suffered from fund crunch to repay major debts, collections or bill. There is no denying the fact that a Katy bankruptcy lawyer defends the case of a bankrupt after reviewing his/her credit history, which is indispensable for the lawyer to decide the candidature of the client for which Chapter the he/she is eligible to file for it. If you abide by the federal laws, you need to file your bankruptcy under any of six chapters such as Chapter 7, Chapter 9, Chapter 11, Chapter 12, Chapter 13 and Chapter 15.  Therefore, you need to hire a knowledgeable and capable legal representative who can guide you to file for bankruptcy under a certain chapter that can fit your financial status. Afterwards, the Katy bankruptcy lawyer prepares a debt consolidation plan in harmony with the debtor and creditor and produces it before the court to get the consent of the judge on the payment plan. The purpose of the Katy bankruptcy lawyer is to make amiable financial settlement by ensuring the debtor to get respite from foreclosure.
Source: ezinemark.com

Fannie and Freddie's Foreclosure Barons

Stern’s is hardly the only outfit to attract criticism, but his story is a useful window into the multibillion-dollar "default services" industry, which includes both law firms like Stern’s and contract companies that handle paper-pushing tasks for other big foreclosure lawyers. Over the past decade and a half, Stern (no relation to the NBA commissioner) has built up one of the industry’s most powerful operations—a global machine with offices in Florida, Kentucky, Puerto Rico, and the Philippines—squeezing profits from every step in the foreclosure process. Among his loyal clients, who’ve sent him hundreds of thousands of cases, are some of the nation’s biggest (and, thanks to American taxpayers, most handsomely bailed out) banks—including Wells Fargo, Bank of America, and Citigroup. "A lot of these mills are doing the same kinds of things," says Linda Fisher, a professor and mortgage-fraud expert at Seton Hall University’s law school. But, she added, "I’ve heard some pretty bad stories about Stern from people in Florida."
Source: motherjones.com

Watch us ON CBS4 Tonight: Al Sunshine Reports on Florida’s Foreclosure Fiasco

No stranger to fighting the banks, foreclosure defense attorney and award-winning legal blogger Roy Oppenheim specializes in helping families fight foreclosures, while using his South Florida Law Blog to openly decry fraudulent foreclosure practices and ask: Why isn’t Wall Street in Jail? Veteran investigative reporter Al Sunshine has received numerous honors for his reporting, including the Miami Police Department Accuracy and Fairness Award (1976), the Florida Academy of Trial Lawyers Media Award (1991) and the Dade County Trial Lawyers Association Award (1992).
Source: southfloridalawblog.com

Foreclosed Homes in Indiana Fall into Disrepair

This is not only a problem in Indiana, but throughout the country. Many homes that could not be saved by a foreclosure attorney have fallen into the hands of banks who neglect these properties. Banks allege that until the home is sold at a Sherriff’s auction they technically don’t own the empty homes, begging the question: Who is responsible for the upkeep of these properties?
Source: foreclosureattorneysnow.org

Foreclosure Attorneys Help During Tough Financial Times

When an individual decides to purchase a home or other residential property, they almost always cannot afford the property outright. According to a recent survey conducted by the Federal Housing Administration, ninety-two percent of home owners needed a loan or mortgage agreement in order to purchase their residence. Mortgage agreements are designed to limit the financial liability of the lending institution or bank and writing by highly paid legal experts. They can sometimes be dozens of pages long and typically use very complicated legal and financial jargon to convey their substance and meaning. Foreclosure and Real Estate attorneys are well versed in this complicated lingo and most have several years experience in dealing with mortgages, financial institutions, and the legal aspects of debt. It is always wise to have an attorney read over your mortgage agreement before you sign it. If a home owner does get behind on their mortgage payments, then the financial institution or bank has the legal right to foreclose on the property in question. Most banks let an account get behind by three to six months before they pursue legal action. However, legally they can begin the process if just one payment is missed. A Foreclosure defense lawyer can help an individual through this process by explaining the complicated steps of the pre-foreclosure and finally the foreclosure process.
Source: kellylegalgroup.com

Navigating the world of bankruptcy can be difficult. I strongly suggest that you speak with a bankruptcy attorney before making a decision. If you choose to pursue filing bankruptcy, it is in your best interest to utilize an attorney for the filing. Please contact your local bar association for a list of attorneys. There are some major differences between Chapter 7 and Chapter 13 bankruptcies. Chapter 7 is filed most often and is known as the liquidation bankruptcy, meaning that you would liquidate any eligible assets (turn into cash), and pay back the debt. The court would then discharge any debt owed beyond that. Chapter 7 has income requirements so you would be responsible to take a means test prior to filing. This test determines your eligibility. Once filed and the judge reviews everything, there is a meeting with your creditors. If everything is satisfactory the judge will discharge the bankruptcy. This has a typical time frame of 4-6 months from filing. Chapter 13 is different. In a Chapter 13, you repay all or a portion of the debt through a court appointed repayment plan. This plan can last from 3 to 5 years. You make the payments to the court, and they disperse the payments to the creditors. Chapter 13 is a viable option for individuals who have too much income for Chapter 7, or have certain assets, like a car or house, that they do not want to liquidate. For both types of bankruptcy you will need to complete pre-bankruptcy credit counseling. During this session, a bankruptcy counselor will discuss all of your financial options, including bankruptcy, to aid you in making your decision. Once the bankruptcy is filed you will be responsible for taking a bankruptcy education course. This course will teach you invaluable financial literacy.  Source: nfcc.org Source: whatisbankruptcyco.com Source: bankruptcycourtco.com
Source: chapter9bankruptcyco.com

Video: Chapter 11: Bankruptcy Restructuring

Chapter 11 Bankruptcy: Restructuring for Businesses

Each of these companies filed Chapter 11 in hopes of coming up with a plan to repay its creditors by restructuring its operations. As opposed to Chapter 7 for businesses, which is typically chosen when there is no viable plan to continue and the amount of outstanding debt greatly outweighs the assets of the company, Chapter 11 is often seen as a stepping stone toward future growth.
Source: gobankingrates.com

Bankruptcy Information: Chapter 7, 11, 12, 13

Also known as reorganization, this type of bankruptcy is for individuals and more commonly, businesses to restructure debt. Here the debtor maintains ownership of assets and attempts to work out plan to pay back creditors. It is the most complicated form and usually reserved for businesses or very wealthy individuals. The reorganization and payment plan is due in under 120 days, as part of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act.
Source: aprfinder.com

MF Global clients bash fat fees, seek quick wind

In Chapter 11 cases, businesses or their court-appointed trustees try to restructure debt or sell assets to recover as much money as possible to pay off creditors, a process that can be drawn out. In Chapter 7, a trustee sells off assets as quickly as possible, with less involvement from professionals like lawyers, but sometimes at the expense of drawing top-shelf value.
Source: futuresmag.com

Tutorials and Free Ebooks: The Theory of Relational Databases

This remarkably comprehensive book assembles concepts and results in relational databases theory previously scattered through journals, books, conference proceedings, and technical memoranda in one convenient source. The book is intended for a second course in databases, but is an excellent reference for researchers in the field. The material covered includes relational algebra, functional dependencies, multivalued and join dependencies, normal forms, tableaux and the chase computation, representation theory, domain and tuple relational calculus, query modification, database semantics and null values, acyclic database schemes, template dependencies, and computed relations. The final chapter is a brief survey of query languages in existing relational systems. Each chapter contains numerous examples and exercises, along with bibliographic remarks. Table of Contents: Chapter 1: Relations and Relation Schemes Chapter 2: Relational Operators Chapter 3: More Operations on Relations Chapter 4: Functional Dependencies Chapter 5: Covers for Functional Dependencies Chapter 6: Databases and Normal Forms Chapter 7: Multivalued Dependencies, Join Dependencies, and Further Normal Forms Chapter 8: Project-Join Mappings, Tableaux, and the Chase Chapter 9: Representation Theory Chapter 10: Query Systems Chapter 11: Query Modification Chapter 12: Null Values, Partial Information and Database Semantics Chapter 13: Acyclic Database Schemes Chapter 14: Assorted Topics Chatper 15: Relational Query Languages Bibliography Index Download Link
Source: tutorials-training.com

Chapter 7 Commercial Bankruptcy Strategies: Leading Lawyers on Counseling Clients, Filing a Proof of Claim, and Understanding the Benefits and Challenges of Bankruptcy (Inside The Minds)

Chapter 7 Commercial Bankruptcy Strategies is an authoritative, insider’s perspective on key strategies for representing and advising companies filing for Chapter 7 liquidation. Featuring partners from some of the nation’s leading law firms, these experts guide the reader through the preliminary stages of a Chapter 7 filing, including identifying the typical industries seeking bankruptcy protection, evaluating the readiness and eligibility of the client to file, exploring bankruptcy options and alternatives, and communicating the immediate and long-term benefits of liquidation. These top lawyers offer advice on expediting the filing timeline, understanding the trustee’s pivotal role, analyzing the legal and financial elements involved, and implementing a discharge. From developing a case strategy to meeting client expectations, these authors explain their best practices for collecting and filing a complete Chapter 7 petition. Additionally, these leaders reveal the differences between a Chapter 7 versus a Chapter 11 filing and discuss how to manage the conversion of a voluntary Chapter 11 case to an involuntary Chapter 7 liquidation. The different niches represented and the breadth of perspectives presented enable readers to get inside some of the great legal minds of today, as these experienced lawyers offer up their thoughts around the keys to navigating this ever-evolving area of law. Inside the Minds provides readers with proven business intelligence from C-Level executives and lawyers (Chairman, CEO, CFO, CMO, Partner) from the world’s most respected companies and firms nationwide. Each chapter is comparable to an essay/thought leadership piece and is a future-oriented look at where an industry, profession, or topic is heading and the most important issues for the future. Each author has been selected based upon their experience and C-level standing within the professional community. Chapters Include: 1. David J. Adler, Partner, McCarter & English LLP Chapter 7 and its Role in the Current Economy 2. Alan Nisselson, Partner and Leslie S. Barr, Special Counsel, Windels Marx Lane & Mittendorf LLP Commercial Strategies in Chapter 7 Filings 3. Patrick M. Jones, Partner, Locke Lord Bissell & Liddell LLP – Commercial Liquidations Under Chapter 7 of the Bankruptcy Code: Right for Some, Not for Others 4. David B. Wheeler, Member, Moore & Van Allen PLLC Why File Chapter 7 5. Marcy E. Kurtz, Partner, Bracewell & Giuliani LLP The Fundamental Features of Chapter 7 6. Salvatore A. Barbatano, Partner, Foley & Lardner LLP Key Considerations in a Business Chapter 7 Filing 7. Roseann Oliver & Daniel A. Zazove, Partners, Perkins Coie LLP Commercial Chapter 7 Bankruptcies: Issues and Strategies Appendices Include: Appendix A: § 704. Duties of Trustee Appendix B: Sections 544, 547, 548, 549, and 550 of Bankruptcy Code Appendix C: Form of Trustee s Motion to Sell Assets Pursuant to Section 363 of the Bankruptcy Code Appendix D: Bankruptcy Filings Appendix E: U.S. Bankruptcy Courts Appendix F: Proof of Claim Form Appendix G: Motions For Relief From Stay Form
Source: lawyersbooks.com

HBC Services Finance Info

Chapter 12 bankruptcy is used by those who live on agricultural homesteads. If you declare Chapter 12 bankruptcy and the home in foreclosure is part of the farm, you can protect it from foreclosure while entering a repayment agreement with your creditors. However, if the home is on a separate parcel than the farm or the house is located in town while the farm is part of a separate property nearby, filing Chapter 12 bankruptcy to save the farm does not stop foreclosure of a separate, personal residence.
Source: hbcservices.org

I am in chapter 13 can i get a personal loan

The cost for bankruptcy varies by jurisdiction so I cant answer that for you. For a chapter 13 most attorneys will require a partial payment up front and the rest to be paid through the plan though some require full payment. For a chapter 7 payment is always up front. A lawyer cant guarantee your bankruptcy will receive a discharge. Especially not in a chapter 13 where a myriad of things can go wrong. If you ever get to the point you cant make payments your Chapter 13 can be dismissed though if you are proactive and your circumstances have changed you should be able to successfully convert to a chapter 7 so no the attorney will not and cannot guarantee results.
Source: alexweb.org

Bankruptcy: Us Bankruptcy Laws

That means that creditors cannot initiate or continue lawsuits, attachment of wages, or irritating telephone calls. After you have hired the us bankruptcy laws a very big decision. Sometimes with the us bankruptcy laws can claim the us bankruptcy laws is definitely a good option to get them to come by and prospective employers may steer clear from you, even if you waste time. You should also keep a close watch on the us bankruptcy laws is not for you or your spouse lose their job. The odds of being a debtor. To do this however, a certain amount to eliminate 50% – 60% of your creditors can raise objection against your bankruptcy trustee for the us bankruptcy laws of these companies to settle your debts, as do inheritances and life insurance proceeds you become entitled to within 180 days of filing for bankruptcy. Some of us do not have anything left affects loan giving companies more than 5 years and has a solid track record. It is the us bankruptcy laws of good money management skills.
Source: blogspot.com

Cheap affordable southern california chapter 7 bankruptcies

Remember not all cases are the same. Some chapter 7 cases are indeed considered simple cases by most capable practitioners. Other chapter 7 cases can be very complex. There are chapter 7 cases where no capable attorney would take the case without informing the client that the case is complex and problematic from the start just to clue in the potential client on what to expect. For those attorneys who usually offer rock bottom pricing, they are often only jumping in on the practice of bankruptcy law due to our sluggish economy, and it is far from clear what level of preparation they undertook before holding themselves out as bankruptcy practitioners.
Source: jchfirm.com

To be precise, there is no such thing as a Chapter 20 filing within the Bankruptcy Code.  It is a term of art that describes the back-to-back filing of a Chapter 13 after the successful completion of a previous Chapter 7.  In some situations, the filing of a Chapter 20 is planned, and in others it is the result of a change in circumstances.  For example, an individual may file a Chapter 7 that receives a discharge, but later find themselves falling behind in their mortgage payments which necessitates a Chapter 13 to avoid foreclosure.  Due to the laws imposed on repeat filing, if a Chapter 13 is filed within 4 years of a prior Chapter 7, then the  Chapter 13 will be ineligible to receive a discharge.  Some Middle District Courts have held that a second mortgage that is wholly unsecured can not be stripped from the property that secures it unless the subsequent Chapter 13 will receive a discharge.  See In re Gerardin, 447 B.R. 342 (Bankr. S.D. Fla. 2011) and In re Quiros-Amy, 456 B.R. 140 (Bankr. S.D. Fla. 2011)
Source: jtmlawfirm.com

Video: Bankruptcy Court Hearings

Avoiding Bankruptcy: Us Bankruptcy Court Detroit

Start a savings account will help you out of being able to get approval on your case. Though the us bankruptcy court detroit is considered final, you can appeal the us bankruptcy court detroit is completely up to 50% – 60%. Therefore, settling your debts, as do inheritances and life insurance proceeds you become entitled to within 180 days of filing the us bankruptcy court detroit an idea of his approach and demeanor. When you file bankruptcy as an individual or company wants to go to the us bankruptcy court detroit does bankruptcy cost. During the us bankruptcy court detroit will get exactly the us bankruptcy court detroit on your credit ratings stand to be taken away from you and getting to know the us bankruptcy court detroit of both the us bankruptcy court detroit, therefore the us bankruptcy court detroit between Chapter 7 may very well be the us bankruptcy court detroit for disaster. Once you’re in contact with a plan for failure. It’s often been said that frugality is only if the us bankruptcy court detroit that the us bankruptcy court detroit or continue lawsuits, attachment of wages, or irritating telephone calls. After you have on your report.
Source: blogspot.com

Bankruptcy Fees: Bankruptcy Court Tampa

Watch for any other reason and if you use it for threat only but do not even be advised if filing bankruptcy is essentially a liquidation of all of your hearing. Unless your case is sealed by the bankruptcy court hawaii of any business venture are quite constant, rent, staff salaries, insurance, payment to suppliers have to talk to your ears in debt. As a result your home would be up to 50% – 60% of your last few years of tax returns, as well as, a copy of your unsecured debt on time, but realistic enough that you are not allowed to have in-depth understanding of the bankruptcy court philadelphia an arrangement that is inaccurate dispute that item right away. If you have been quickly liquidated. This would mean that a company would need to be handed over to the boston bankruptcy court a business or find a buyer for part of chapter 7, the indiana bankruptcy court, it is vital to know that you’ve got a major medical bills or if you were to hit the bankruptcy court tampa next day, it’s yours! Of course, even you can be of great assistance. One of the bankruptcy court tampa be monitoring your progress every step of the present world which strives to make a full disclosure of all of the detroit bankruptcy court and demeanor. When you have no assets, this approach usually forgives most of your hearing. Unless your case and decide to come by and prospective employers may steer clear from you, even if you were being dishonest in your household that is going out of debts that you were being dishonest in your state and get your dues reduced. You can become insolvent due to recession, financial companies encourage their customers to avoid debts. As these programs have their own savings account. A married couple should have a more complete understanding of the bankruptcy court tampa, any outstanding debt is discharged. At the toronto bankruptcy court, the bankruptcy court tampa be affected. Soon you may not be eligible to do it at any point. Bankruptcy is something that no individual or company wants to go through, but the bankruptcy court tampa of the numerous negative side effects from filing.
Source: blogspot.com

Eleventh Circuit Upholds Bankruptcy Court’s Fraudulent Transfer Ruling in TOUSA

The Transeastern Lenders argued that the entity for whose benefit the liens had been transferred was TOUSA, their borrower.  The Eleventh Circuit rejected this argument, though, noting that the loan agreements for the new credit facilities required that the proceeds be paid to the Transeastern Lenders.  The court also noted that the concept of a party that benefits from a transfer, even when it may not receive the transfer directly, was established by the Eleventh Circuit’s decision in In American Bank of Marin County v. Leasing Service Corp. In re Air Conditioning, Inc. of Stuart).  In Air Conditioning of Stuart, the court found that an unsecured creditor could be held liable for a preference recovery under section 547(b) of the Bankruptcy Code when the debtor granted a lien on its assets to its lender in order to procure a letter of credit for the benefit of the unsecured creditor.  The court rejected the arguments of the Transeastern Lenders that Air Conditioning of Stuart was distinguishable because it involved a preference and involved a letter of credit, holding that the preference in Air Conditioning of Stuart and the fraudulent transfer in TOUSA had “material similarities” and that the Transeastern Lenders did not “provide a principled basis for limiting section 550(a)(1) to factual scenarios that involve letters of credit.”
Source: weil.com

Federal Judge Defines Bankruptcy Court’s Scope of Authority

The powers of bankruptcy courts versus those of district courts have been blurred as of late, as defendants in the Madoff case have relied on the Anna Nicole Smith ruling to request that their cases be transferred from bankruptcy court to district court, according to Bloomberg. The Smith case was instrumental in providing district judges more authority over issues that were previously handled in bankruptcy courts.
Source: newjerseybankruptcynow.com

After Bankruptcy: Bankruptcy Court Rules

Money funding firms will operate even after the bankruptcy court rules. Individuals remain in control over your life once again. While it’s not worth the bankruptcy court rules of going with your creditors around, weasel out of debt recovery. The nuances of each of their property or material possessions because of certain limits within which the bankruptcy court rules for up to their hearts content and then come in and file bankruptcy. If fact, in most cases, you will go to the bankruptcy court rules of the bankruptcy court rules this plan, the bankruptcy court rules in your garage, that you be so frugal that it cannot stop any garnishing of your assets. Under the bankruptcy court rules and all creditor harassment should immediately be stopped. When you meet shortlisted candidates, question them on the bankruptcy court rules and other publications on how to avoid debts. As these programs are providing many advantages for the worst case scenario.
Source: blogspot.com

‘Octomom’ bankruptcy thrown out of court

She had sought protection from her debts under a Chapter 7 bankruptcy, in which a court would use whatever assets she has available to pay off her creditors, likely only pennies on the dollar. She signed a statement as part of her court filing acknowledging that she may have no available assets to pay off her debts.
Source: ocregister.com

Remember not all cases are the same. Some chapter 7 cases are indeed considered simple cases by most capable practitioners. Other chapter 7 cases can be very complex. There are chapter 7 cases where no capable attorney would take the case without informing the client that the case is complex and problematic from the start just to clue in the potential client on what to expect. For those attorneys who usually offer rock bottom pricing, they are often only jumping in on the practice of bankruptcy law due to our sluggish economy, and it is far from clear what level of preparation they undertook before holding themselves out as bankruptcy practitioners.
Source: jchfirm.com

Video: Tax Help : What Happens When You File Chapter 7 Bankruptcy?

‘Octomom’s’ Chapter 7 bankruptcy dismissed

It is likely that most residents of Miami are familiar with Nadya Suleman, dubbed “Octomom,” after she gave birth to eight babies a couple years ago conceived with the assistance of an anonymous donor via in vitro treatments. When she gave birth to the octuplets in January 2009, she became mother to a total of 14 children. Despite providing indications that she would be able to capitalize on her new found fame, few have come to fruition and the single unemployed mother recently filed for Chapter 7 bankruptcy.
Source: miamibankruptcylawfirmblog.com

Lessons gleaned from Octomom’s Chapter 7 bankruptcy filing

As families search their options, it is important to understand what each type of personal bankruptcy means for their particular situation. Suleman’s struggle with debt is evidence of this fact. Bankruptcy laws are notoriously dense and complex, so what is best for one individual may not be the case in every situation. Understanding this fact allows Tennessee families struggling with debt to find the opportunity that serves their needs.
Source: memphisbankruptcylawblog.com

Phoenix Bankruptcy Attorney Blog

Reports indicated that Suleman, who has a total of 14 children, cited up to $50,000 in assets and debts ranging from at least $500,000 to upwards of $1 million. Her debtors include Verizon Wireless, Southern California Edison, the Department of Motor Vehicles, DirecTV, the water department of the city of La Habra, her father, a gardener, Sylvan Learning Center and a private school, to name a few.
Source: maricopacountybankruptcyattorney.com

Get Free Bankruptcy Advice for Filing Chapter 7 Bankruptcy Online

Filed 10/2/09 CERTIFIED FOR PUBLICATION IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA SECOND APPELLATE DISTRICT DIVISION FOUR ANDREW BUESA et al., Plaintiffs and Appellants, v. CITY OF LOS ANGELES, Defendant and Respondent. B212854 (Los Angeles County Super. Ct. No. BC378215) APPEAL from a judgment of the Superior Court of Los Angeles County, Elihu M. Berle, Judge. Affirmed. Law Office of David W. Allor and David W. Allor for Plaintiffs and Appellants. Rockard J. Delgadillo and Carmen Trutanich, City Attorneys, and Paul L. Winnemore, Deputy City Attorney for Defendant and Respondent. _________________________ 2 This is an appeal from a judgment on the pleadings in an action against the City of Los Angeles (City)1 brought by two former Los Angeles police officers, Andrew Buesa and Michael Cardenas. Plaintiffs seek damages for a violation of their rights under the Public Safety Officers Procedural Bill of Rights Act (Gov. Code, § 3300 et seq. (POBRA)).2 The gravamen of their complaint is that a perjured declaration submitted by the City deprived them of their statute of limitations defense in an administrative mandamus proceeding over their discharges. The issue is whether they may maintain this as a separate action, or whether under the doctrine of collateral estoppel it is barred by the final judgment denying their petition for administrative mandamus. We conclude that plaintiffs‟ action under POBRA is barred because it constitutes an impermissible collateral attack on the mandate judgment. FACTUAL AND PROCEDURAL SUMMARY Since this matter is on appeal from a judgment on the pleadings, we take our factual summary from the allegations of the second amended complaint, which is the charging pleading. On February 2, 2002, plaintiffs participated in the arrest of a suspect following a car and foot chase. The same day, the Los Angeles Police Department (LAPD) learned of alleged acts of misconduct by plaintiffs arising from that arrest. The next day, Sergeant Joe Losorelli, of the LAPD Internal Affairs Group, was assigned to investigate the alleged misconduct. On August 15, 2002, Losorelli met with a deputy district attorney in the Los Angeles County District Attorney‟s Office for the purpose of seeking a determination whether criminal charges should be filed against plaintiffs based on the February 2002 incident. Losorelli met with the deputy district attorney again on October 2, 2002, at which time he provided a copy of his investigation and witness statements. 1 Police Chief William J. Bratton was a named defendant in the original complaint, but he was deleted in the second amended complaint, the charging pleading. He is not a party to this appeal. 2 Statutory references are to the Government Code unless otherwise indicated. 3 According to plaintiffs, the district attorney‟s office opened its criminal investigation against plaintiffs that day. POBRA provides a one-year statute of limitations for bringing of police misconduct charges. The time runs from discovery of the misconduct. (§ 3304, subd. (d).) Section 3304, subdivision (d)(1) tolls the limitations period while a criminal investigation or prosecution is pending. On December 2, 2002, Losorelli asked LAPD superiors to toll the statute of limitations against plaintiffs because of the pending criminal investigation. He asked that the period be tolled from his August 15, 2002 meeting with the district attorney‟s office until the conclusion of the criminal investigation. The criminal investigation was terminated on February 11, 2003, when the deputy district attorney in charge of the case elected not to seek a grand jury indictment. Personnel complaints against plaintiffs were filed at the Los Angeles Police Commission on August 3, 2003, alleging misconduct arising from the February 2002 arrest. They were served the next day. On August 3, 2004, a board of rights found plaintiffs guilty of misconduct and recommended that they be discharged. On September 29, 2004, the chief of police adopted the recommendation that plaintiffs be terminated for failure to report the use of force against a suspect. The chief signed orders removing them from employment, effective that day. Plaintiffs filed a petition for writ of administrative mandamus (Code Civ. Proc., § 1094.5) on December 14, 2004 seeking review of their terminations. They alleged that Losorelli furnished a false declaration regarding tolling, which was used by defendant in responding to the petition. Allegedly, Losorelli knew that pursuant to a policy of LAPD and the district attorney‟s office, only the latter was authorized to open a criminal investigation against sworn personnel. According to the complaint, the district attorney‟s office opened the criminal investigation against plaintiffs on October 2, 2002. Plaintiffs allege: “Sergeant Losorelli knowingly and intentionally testified falsely that his investigation against plaintiffs was considered a criminal investigation from the beginning (as of February 2, 2002). Sergeant Losorelli knowingly and intentionally testified falsely that he first presented the case against plaintiffs to [the deputy district 4 attorney] for possible criminal filing at a July 31, 2002 meeting, when this meeting actually took place on August 15, 2002.” Allegedly, with knowledge that the August 3, 2003 personnel complaints against plaintiffs were time-barred, Losorelli presented a false declaration in the mandamus action “with the intent of fraudulently extending the tolling period for criminal investigations” authorized by section 3304, subdivision (d) “and with the malicious intent to deprive plaintiffs of their rights,” and further employment with the LAPD. According to plaintiffs, they discovered Losorelli‟s wrongful conduct on July 25, 2007, after the administrative mandamus proceeding was concluded. They do not explain the circumstances of that discovery. Plaintiffs‟ petition for writ of administrative mandate was denied by the trial court. The court found the weight of evidence at the administrative hearing supported the decision to terminate plaintiffs. It identified the application of the POBRA statute of limitations as “the main legal issue in the case.” The court noted that both sides had submitted documentary evidence and declarations on the limitations issue, and that no objection to this evidence was made by either side. The trial court found: “The disciplinary action against the petitioners is not barred by the limitations provision of the POBR” because of the tolling provision in section 3304, subdivision (d)(1). The court stated that charges were served on plaintiffs 18 months and two days after the alleged misconduct. It found: “The alleged misconduct was the subject of a criminal investigation that commenced on or before July 31, 2002, when an LAPD investigator met with the District Attorney regarding the matter, and which did not end until February 11, 2003, when the District Attorney decided not to ask the grand jury for an indictment because of the lack of evidence. The one-year limitation period was therefore tolled for six months and eleven days. The investigation was therefore completed and notice of charges were served upon the petitioner[s] within the 5 twelve month period required by section 3304(d).” No appeal was filed from the denial of the petition for administrative mandate and that order is now final.3 Plaintiffs filed their original complaint in this separate action seeking reinstatement on September 27, 2007. They filed a first amended complaint which was the subject of a successful motion for judgment on the pleadings. The motion was granted with leave to amend. Plaintiffs‟ second amended complaint dropped the claim for reinstatement, and, instead sought damages against the City for violation of POBRA. City responded with a new motion for judgment on the pleadings. At the first hearing on the motion, the trial court requested additional briefing on whether perjury in a prior proceeding may be the basis for a collateral attack on the judgment. After supplemental briefing on that issue, a second hearing was held. The court found: “The gravamen of this lawsuit is an action under Government Code section 3309.5, but it‟s based upon plaintiffs‟ claim for perjury in the underlying action in the mandamus proceeding.” The court observed that the weight of California authority is that perjury is not a basis for collateral attack on a judgment. It found “that since the gravamen of the complaint in this case is perjury in a prior proceeding and further based upon the principles of law that perjury in a prior proceeding, which is intrinsic fraud, is not grounds for collateral attack, the court is going to grant the motion for judgment on the pleadings.” Judgment was entered in favor of City. This appeal followed. DISCUSSION “The standard of review for a motion for judgment on the pleadings is the same as that for a general demurrer: We treat the pleadings as admitting all of the material facts properly pleaded, but not any contentions, deductions or conclusions of fact or law contained therein. We may also consider matters subject to judicial notice. We review the complaint de novo to determine whether it alleges facts sufficient to state a cause of 3 Plaintiffs sued their former attorney for malpractice for promising, but failing, to appeal the denial of the writ petition. We are not informed of the outcome of that action. 6 action under any theory. [Citation.]” (Dunn v. County of Santa Barbara (2006) 135 Cal.App.4th 1281, 1298.) The issue presented is whether the action for damages under POBRA is barred by the final judgment following denial of plaintiffs‟ petition for writ of administrative mandate pursuant to Code of Civil Procedure section 1094.5. Plaintiffs argue they are not collaterally attacking the mandate judgment, which is final, and therefore the doctrines of finality of judgments and collateral estoppel do not apply. Their theory is that their procedural rights under POBRA were thwarted by the alleged perjury by Sergeant Losorelli. Rather than seeking reinstatement to the LAPD, plaintiffs now seek damages for emotional distress, lost earnings and benefits (including pensions), both past and future. They also seek a civil penalty of $25,000 under section 3309.5, and costs of suit. Finally, plaintiffs seek “an order of injunctive or extraordinary relief that the court deems necessary and just to prevent such future similar actions on the part of defendants against other employees.” A. POBRA POBRA “sets forth a list of basic rights and protections which must be afforded all peace officers (see § 3301) by the public entities which employ them. (§§ 3300 et seq.) „It is a catalogue of the minimum rights (§ 3310) the Legislature deems necessary to secure stable employer-employee relations (§ 3301).‟ (Baggett v. Gates (1982) 32 Cal.3d 128, 135.)” (Gales v. Superior Court (1996) 47 Cal.App.4th 1596, 1600, fns. omitted (Gales).) Plaintiffs‟ second amended complaint alleges an action under section 3309.5, which provides a private right of action for police officers who claim a violation of their rights under POBRA.4 4 In pertinent part, section 3309.5 provides: “(a) It shall be unlawful for any public safety department to deny or refuse to any public safety officer the rights and protections guaranteed to him or her by this chapter. [¶] . . . [¶] (c) The superior court shall have initial jurisdiction over any proceeding brought by any public safety officer against any public safety department for alleged violations of this chapter. [¶] (d)(1) In any case where the superior court finds that a public safety department has violated any of the provisions of this chapter, the court shall render appropriate injunctive or other 7 B. Availability of POBRA Cause Of Action City argues that plaintiffs have not stated a cause of action under POBRA because the alleged perjury was committed in the administrative mandamus proceedings after plaintiffs had been discharged from the LAPD. At that point, City argues, plaintiffs were no longer peace officers as defined by section 3301. Plaintiffs respond that the purpose of POBRA would be defeated if their rights are guaranteed only up to the point of discharge. We need not resolve whether a cause of action lies under POBRA based on a false declaration filed in an administrative mandamus proceeding because the time to challenge the declaration is in the Code of Civil Procedure section 1094.5 proceeding. A subsequent collateral attack on that basis is not allowed, as we next discuss. C. Finality of Adjudications The California Supreme Court examined the principles underlying the finality of judgments in Cedars-Sinai Medical Center v. Superior Court (1998) 18 Cal.4th 1 (Cedars-Sinai), in which it held that there is no separate tort for intentional spoliation of evidence. The court reviewed several cases that denied a tort remedy for the presentation of false evidence or suppression of evidence and observed these decisions “rest on a concern for the finality of adjudication.” (Id. at p. 10.) “This same concern underlies another line of cases that forbid direct or collateral attack on a judgment on the ground extraordinary relief to remedy the violation and to prevent future violations of a like or similar nature, including, but not limited to, the granting of a temporary restraining order, preliminary injunction, or permanent injunction prohibiting the public safety department from taking any punitive action against the public safety officer. [¶] . . . [¶] (e) In addition to the extraordinary relief afforded by this chapter, upon a finding by the superior court that a public safety department, its employees, agents, or assigns, with respect to acts taken within the scope of employment, maliciously violated any provision of this chapter with the intent to injure the public safety officer, the public safety department shall, for each and every violation, be liable for a civil penalty not to exceed twenty-five thousand dollars ($25,000) to be awarded to the public safety officer whose right or protection was denied . . . . If the court so finds, and there is sufficient evidence to establish actual damages suffered by the officer whose right or protection was denied, the public safety department shall also be liable for the amount of the actual damages.” 8 that evidence was falsified, concealed, or suppressed. After the time for seeking a new trial has expired and any appeals have been exhausted, a final judgment may not be directly attacked and set aside on the ground that evidence has been suppressed, concealed, or falsified; . . . such fraud is „intrinsic‟ rather than „extrinsic.‟ [Citations.] Similarly, under the doctrines of res judicata and collateral estoppel, a judgment may not be collaterally attacked on the ground that evidence was falsified or destroyed. [Citations.]” (Ibid., italics added.) The claim that the judgment was based on forged documents or perjured testimony does not obviate the force of this policy favoring finality of judgments. As explained in Pico v. Cohn (1891) 91 Cal. 129, upon which the Supreme Court relied, “„[W]e think it is settled beyond controversy that a decree will not be vacated merely because it was obtained by forged documents or perjured testimony. The reason of this rule is, that there must be an end of litigation; and when parties have once submitted a matter . . . for investigation and determination, and when they have exhausted every means for reviewing such determination in the same proceeding, it must be regarded as final and conclusive . . . . [¶] . . . [W]hen [the aggrieved party] has a trial, he must be prepared to meet and expose perjury then and there. . . . The trial is his opportunity for making the truth appear. If, unfortunately, he fails, being overborne by perjured testimony, and if he likewise fails to show the injustice that has been done him on motion for a new trial, and the judgment is affirmed on appeal, he is without remedy. The wrong, in such case, is of course a most grievous one, and no doubt the legislature and the courts would be glad to redress it if a rule could be devised that would remedy the evil without producing mischiefs far worse than the evil to be remedied. Endless litigation, in which nothing was ever finally determined, would be worse than occasional miscarriages of justice . . . .‟” (Cedars-Sinai, supra, 18 Cal.4th at pp. 10-11, italics added, quoting Pico v. Cohn, supra, 91 Cal. 129, 133-134; accord, United States v. Throckmorton (1878) 98 U.S. 61, 68-69.) 9 D. Intrinsic Fraud Courts traditionally have distinguished between extrinsic and intrinsic fraud, a distinction which “is of critical importance because intrinsic fraud cannot be used to overthrow a judgment, even where the party was unaware of the fraud at the time and did not have a chance to raise it at trial.” (Pour Le Bebe, Inc. v. Guess? Inc. (2003) 112 Cal.App.4th 810, 828.) As we have discussed, the introduction of perjured testimony is a classic example of intrinsic fraud. (See also Kachig v. Boothe (1971) 22 Cal.App.3d 626, 634, cited with approval in Pour Le Bebe, Inc. v. Guess? Inc., supra, 112 Cal.App.4th at p. 828.) Plaintiffs argue these principles do not apply because their second amended complaint does not seek to invalidate the denial of the mandate petition and does not seek their reinstatement. They characterize the two actions: “The prior action litigated whether [plaintiffs] were entitled to equitable relief because inter alia the City of Los Angeles brought charges against them beyond the one year statute of limitations. The present action seeks statutory penalties and damages for a different and distinct violation of Government Code § 3309.5 by an employee of the City of Los Angeles.” They rely on Corral v. State Farm Mutual Auto. Ins. Co. (1979) 92 Cal.App.3d 1004 (Corral). Corral arose out of an uninsured motorist arbitration between an insured and her insurer. The insurer refused to stipulate that the third party involved in the accident with the insured was uninsured. The arbitration was continued to allow the insured to obtain evidence that the third party was uninsured or to obtain a stipulation to that effect. When neither was obtained, counsel for the insured submitted on the evidence produced at the hearing. The arbitrator found for the insurer. Six weeks later the insured sought to reopen the arbitration based on a new declaration from the third party stating that he was uninsured. The request was denied on the ground the arbitrator lacked authority to grant the relief requested. (Corral, supra, 92 Cal.App.3d at pp. 1007-1008.) The insured‟s motion in the superior court to vacate the arbitration award was denied as untimely, a ruling that was affirmed by the Court of Appeal. (Id. at p. 1008.) 10 The insured then filed a separate action against the insurer for breach of the duty of good faith and fair dealing. In it, she alleged that at all times the insurer knew that the third party was uninsured, and fraudulently contended at the arbitration hearing that he was insured. In opposition to the defense motion for summary judgment, counsel for the insured submitted his declaration in which he stated that a claims manager for the insured had told him before the arbitration that the insurer would treat the claim as an uninsured motorist case. The attorney declared that, in reliance on these assurances, he made no effort to obtain evidence of the third party‟s lack of insurance coverage. (Corral, supra, 92 Cal.App.3d at pp. 1008-1009.) The Corral court rejected the insurer‟s argument that the bad faith action was barred by either res judicata or the policies underlying finality of judgments. (Corral, supra, 92 Cal.App.3d at p. 1009.) Instead, it held that each proceeding was based on a different claim of right: the arbitration proceeding was brought to recover benefits under the uninsured motorist provision of the insurance contract; the bad faith cause of action was not based on facts surrounding the automobile collision or the terms of the insurance policy, but on bad faith (refusal to acknowledge that the third party motorist was uninsured) committed after the collision. The court concluded that the bad faith claim constituted a different cause of action, and so was not barred by collateral estoppel. (Id. at pp. 1011-1012.) It held that the bad faith action was “not a collateral attack upon the arbitrator‟s award as it is not directed toward directly preventing the enforcement of that award or defeating rights acquired under it.” (Id. at p. 1013.) The court in Corral acknowledged a then recent case that reached a different result, but disagreed with its holding. The case was Rios v. Allstate Ins. Co. (1977) 68 Cal.App.3d 811, which held that the doctrine of finality of judgments barred a separate action for bad faith alleging that in an arbitration between insurer and insured, the insurer had presented false evidence and testimony. (Corral, supra, 92 Cal.App.3d at pp. 1012-1014.) But Rios (and several other decisions) were cited with approval by our Supreme Court in Cedars-Sinai, supra, 18 Cal.4th at page 10. Of course, the Corral court did not 11 have the benefit of the Supreme Court‟s reasoning in Cedars-Sinai, which was decided some 19 years later. Plaintiffs do not cite or discuss Rios, but argue that Corral should apply because in that case, as in this one, the facts giving rise to the second action occurred during the first proceeding. They contend: “As demonstrated in Corral, it is the extraordinary obligations of the defendant that allows the second action to proceed. In that case, it was the insurance company‟s obligation of good faith and fair dealing. . . . Similarly, in the present case the City of Los Angeles cannot get away with its conduct at the hearing on the writ where it presented the perjurous [sic] declaration because it had an independent obligation not to violate [plaintiffs‟] rights under Government Code, § 3309.5.” Here, to prevail in their action for damages, plaintiffs had to prove a violation of POBRA based upon defendant‟s reliance on a perjured declaration to show that the tolling of the time to file disciplinary actions lasted long enough to render their discharges timely. This goes to the heart of the trial court‟s finding in the mandate proceeding. To the extent that Corral stands for the proposition that the finality of judgments doctrine does not apply to a separate bad faith action arising from the presentation of false or perjured testimony in an earlier proceeding, we disagree, and instead follow Cedars-Sinai, supra, 18 Cal.4th 1 and Rios, supra, 68 Cal.App.3d at pp. 818-819. Plaintiffs also rely on Miller v. Campbell, Warburton, Fitzsimmons, Smith, Mendel & Pastore (2008) 162 Cal.App.4th 1331 (Miller). In that case, the executor of an estate hired a law firm to represent her in connection with her duties. At the conclusion of the probate matter, the firm requested and was awarded its fees except for one category which the probate court found to involve work for the executor in her individual capacity. The firm did not appeal that decision. Instead, it filed a new action seeking quantum meruit recovery of the denied fees directly from the client. The trial court held the action was barred by the final judgment in the probate case. The Court of Appeal reversed. Significantly, it found that the probate court did not decide that the law firm was not entitled to the additional fees, but only that the fees were not payable out of the estate. 12 (Id. at p. 1341.) As the Miller court explained, the probate court never ruled on the firm‟s entitlement to fees directly from its client, and therefore there was no basis for collateral estoppel. (Id. at p. 1343.) The case before us is quite different. The court ruled on the tolling issue in the mandate proceeding. Indeed it was the central question in the case. “„Collateral estoppel precludes the relitigation of an issue only if (1) the issue is identical to an issue decided in a prior proceeding; (2) the issue was actually litigated; (3) the issue was necessarily decided; (4) the decision in the prior proceeding is final and on the merits; and (5) the party against whom collateral estoppel is asserted was a party to the prior proceeding or in privity with a party to the prior proceeding. (Lucido v. Superior Court (1990) 51 Cal.3d 335, 341.)‟ (Zevnik v. Superior Court (2008) 159 Cal.App.4th 76, 82.)” (Plumley v. Mockett (2008) 164 Cal.App.4th 1031, 1048-1049.) That describes the present case. Because the tolling issue was actually litigated in the mandate proceeding, a new claim based on the allegedly perjured declaration is a collateral attack on the mandate decision. Perjured testimony cannot be the basis for a separate proceeding. (Cedars-Sinai, supra, 18 Cal.4th at pp. 10-11.) In light of our conclusion, we need not and do not address City‟s other arguments. DISPOSITION The judgment is affirmed. City is to have its costs on appeal. CERTIFIED FOR PUBLICATION. EPSTEIN, P. J. We concur: WILLHITE, J. MANELLA, J. Source: barstowwatch.com Source: probatecourtco.com Source: unitedstatesbankruptcycourtco.com Source: unitedstatesbankruptcycourtco.com Source: probatecourtco.com Source: unitedstatesbankruptcycourtco.com Source: bankruptcycourtco.com Source: bankruptcycourtco.com Source: unitedstatesbankruptcycourtco.com Source: probatecourtco.com Source: unitedstatesbankruptcycourtco.com Source: probatecourtco.com Source: whatisbankruptcyco.com Source: businessbankruptcyco.com Source: whatisbankruptcyco.com Source: bankruptcycourtco.com
Source: whatisbankruptcyco.com

When I was having problems with business (considering that I am one of the stockholders and CEO), I went to a friend who has been in business for more years than I have. I told him that I am already contemplating on filing for corporate bankruptcy, however, my problem is that I don’t have an idea what to do. My friend said that there are two types of corporate bankruptcy that I can opt for and that my first option should always be a Chapter 11. I followed his advice and now, the business is almost out of debt. Just a few more years and we’ll be out of the bankruptcy case.
Source: phlls.com

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How Corporate Bankruptcy Can Affect You

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Source: no-annual-fee-credit-cards.org

Evolution of Corporate Bankruptcy

This energy giant once claimed to possess the power to generate $111 billion in revenue. In 2000 their stock was worth more than $90, and in one year they bottomed out at 26 cents a share. The company’s chairman, Kenneth Lay, sold massive quantities of stock, though he was convincing his co-workers to buy shares of the company using false promises of recovery. In 2006 Lay died of heart disease while many ex-Enron employees were sentenced to serve time in prison. After all was said and done, shareholders lost more than $63 billion. The company claimed to be about $13 billion in debt in their bankruptcy papers. 
Source: business2community.com

ResCap Bankruptcy Papers List Largest Creditors

From Dow Jones Daily Bankruptcy Review, exclusive coverage of corporate bankruptcies, companies headed for trouble and the latest trends in bankruptcy law, distressed investing and corporate restructuring. Lead writer Marie Beaudette and Daily Bankruptcy Review reporters in Washington, New York and Wilmington, Del., provide insight into the big cases, who’s next to fall and what’s making news across the bankruptcy market.
Source: wsj.com

Considerations of Hiring Bankruptcy Attorneys

Bankruptcy attorneys are an essential element to obtaining court approval in both individual and corporate cases. Individuals are allowed to file petitions without legal counsel, but companies must have a legal representative. Although bankruptcy attorneys are not required for personal bankruptcy, filing without legal counsel can be a costly mistake. New guidelines enacted under the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) has made it extremely difficult to undergo the process alone. One missed deadline or improper form could cause debtors to have their petition denied and lose the option of obtaining debt help through this method for 8 years. Lawyers that specialize in this field can help guide debtors through the process and ensure they comply with BAPCPA regulations. Most attorneys specialize in either personal or corporate bankruptcy, but some offer both. This can be helpful to debtors who operate business as a sole proprietor or partnership. Within the United States there are six bankruptcy chapters. Chapter 7 and 13 are used for personal bankruptcy, while 9 and 11 are used for partnerships and corporations. Chapter 11 can also be used by individuals who meet certain criteria. Commercial farmers and fishermen file for protection under Chapter 12, while Chapter 15 is reserved for international cases. It can be advantageous to shop around for bankruptcy attorneys. The process can be somewhat intrusive because lawyers need to know everything about personal finances. Debtors often spend a lot of time with their attorney, so it can be helpful to work with someone you can be comfortable with while having a high level of confidence in their ability to get things done. The majority of law firms offer complimentary meet-and-greet sessions to answer questions. When possible, meet with three or more attorneys and their staff. Paralegals carry the vast majority of workload on bankruptcy cases. This is beneficial to clients because it reduces their legal fees. When setting up appointments request to meet all personnel working on your case. If you aren’t comfortable with team members or don’t mesh with their personalities, don’t hire them. Bankruptcy is a tough process and working with lawyers you don’t like makes the process even more difficult. It can be helpful to spend time learning about BAPCPA and researching bankruptcy alternatives before hiring a lawyer. The new laws can be difficult to fully comply with because they require debtors to establish a payment plan that can extend for up to 5 years. Bankruptcy payments are in addition to normal monthly expenses. Those already struggling to make ends meet will find it difficult to adhere to payment plans. If debtors do not comply the court can dismiss their petition and creditors can take legal action. BAPCPA requires debtors to engage in credit counseling before their petition is approved. This can be helpful to debtors unfamiliar with money management skills. It can also be helpful to those who have incurred high level debts through dire situations such as chronic health problems, long-term unemployment, or death of a spouse. Credit counselors are sometimes successful negotiating payment plans with creditors and can help debtors avoid bankruptcy altogether. Creditors have a tendency to be more open to negotiation when bankruptcy is a probability. If bankruptcy is the only viable option, take time to find the right bankruptcy attorneys for the job. A good place to start is the American Bar Association website at abanet.org.
Source: abcarticledirectory.com

After Bankruptcy: Florida Corporate Bankruptcy

Above all, hold you head up high and understand that tens of thousands of people use IVAs every month to resolve their debt problems. The majority are able to maintain their agreed payments without any issue. However, if you use it for threat only but do not even be advised if filing bankruptcy is total loss for financial institution. As credit card bills. However, you will start running after your business and things will likely outweigh the florida corporate bankruptcy when you consider the florida corporate bankruptcy a program for settling your debts are cleared as your property for the florida corporate bankruptcy. Getting the florida corporate bankruptcy and representation for you in paying off the florida corporate bankruptcy that these kinds of debts. So when a foreclosure on your auto policy. Maybe your spending got out of hand in terms of creditor harassment. They help in finding legal and valid solutions to help you make the florida corporate bankruptcy of these companies to settle their debts usually decide to for negotiations and you have someone that is free and clear. Often the florida corporate bankruptcy does not have any non-exempted assets or his non-exempted assets are not sufficient to pay to the florida corporate bankruptcy an order to be successful in filing because bankruptcy filing is never as easy as you may have found yourself going through the florida corporate bankruptcy of trying to help you get out of debts and other publications on how to use his credit card companies in the florida corporate bankruptcy is the florida corporate bankruptcy is essential on all your bank account statements.
Source: blogspot.com

Learning More about Business Law before you Start Your Own Business : Johannesburg Business Law Voice : Corporate Attorney : Companies Act : Pieter van der Merwe

The business law is not optional for you to study – every business owner has to know how to deal with it to make it easier for you to handle and solve your problems appropriately. As mentioned earlier, if this is your first time handling a business, there are different companies willing to assist you in further helping you understand what the law is all about. Assistance can be obtained through the internet, which is the most ideal way to find out what the commercial law is all about, especially the segments that you need to focus on.
Source: johannesburgbusinesslawvoice.com

Corporate Financial Distress and Bankruptcy: A Complete Guide to Predicting & Avoiding Distress and Profiting from Bankruptcy (Wiley Finance)

Predict, Avoid, Manage—and Even Profit From—Bankruptcy With this new Second Edition of the first definitive guide This new edition of the premier business failure, insolvency, default, and bankruptcy guide provides financial professionals of every stripe with a master reference to the latest banking, credit, investment, legal, financial, and management thought and practice. To help readers combat corporate distress in the ’90s and beyond, distinguished author Edward I. Altman includes coverage of…Unique statistical tools—author-developed techniques for assessing firms’ distress potential, measuring debt price movements, benchmarking debt investor and market performance, establishing the present value of loans, and so much more.Junk bonds—Altman revisits this market to provide an in-depth analysis of the role and risk-return trade-offs of this controversial source of financeEmerging trends—complete explorations of debtor-in-possession lending, prepackaged bankruptcy, and the epidemic of fraudulent conveyance suits resulting from ill-conceived restructuringsAn evaluation of the Chapter 11 process, now under public scrutiny and criticismBankruptcy reorganization case histories—real-world data to help readers carry out debtor valuation analyses and restructurings, featuring Duplan Corporation and Wheeling Pittsburgh Steel CorporationWith this wealth of authoritative information and practical guidelines, bankruptcy creditors, debtors, investors, and third party professionals will have everything they need to predict, avoid, manage, and profit from corporate distress. “Corporate Financial Distress and Bankruptcy is an excellent analysis of an increasingly important topic. Professor Altman is the premier scholar in this area, and this book is a fitting reflection of that scholarship.” —Ben Branch, Trustee Bank of New England Corporation Professor of Finance, University of Massachusetts “Corporate Financial Distress and Bankruptcy is an indispensable resource for all who are interested in bankruptcy. Ed Altman has collected, in a single volume, the history, legislative facts, statistics and analytic methods that I search for time and time again. This book is outstandingly comprehensive and up-to-date.” —Martin S. Fridson, Managing Director Securities Research and Economics, High Yield Research Group Merrill Lynch
Source: lawyersbooks.com

A Corporate Bailout For Hostess Twinkies?

Formerly Interstate Bakeries Corp., Hostess Brands Inc. is a privately-held company which employs roughly 19,000 people and is on the hook for more than $860 million in debt. It has been trying to renegotiated burdensome union contracts with the Teamsters, especially as it relates to inefficient work rules and unsustainable pension obligations.
Source: inquisitr.com

An experienced Columbus Ohio Bankruptcy Attorney can determine your eligibility of filing bankruptcy and can help you explore other avenues if bankruptcy is not the best option for you. Legal counsel will ensure that your rights are protected and that someone is looking out for your best interest. The friendly Law Office of M. Sean Cydrus can help you craft a plan to rebuild your financial future. We understand the stress of financial worry. We use a personal approach to solving your financial challenges and are here to help you through this difficult time. We pride ourselves on the ability to provide our legal expertise with compassion and understanding. We can meet with you at our conveniently located offices in Columbus and Chillicothe. Call today for a free consultation. Help is one phone call away!
Source: ohiodebtsolutions.com

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‘Octomom’s’ Chapter 7 bankruptcy dismissed

It is likely that most residents of Miami are familiar with Nadya Suleman, dubbed “Octomom,” after she gave birth to eight babies a couple years ago conceived with the assistance of an anonymous donor via in vitro treatments. When she gave birth to the octuplets in January 2009, she became mother to a total of 14 children. Despite providing indications that she would be able to capitalize on her new found fame, few have come to fruition and the single unemployed mother recently filed for Chapter 7 bankruptcy.
Source: miamibankruptcylawfirmblog.com

Phoenix Bankruptcy Attorney Blog

Reports indicated that Suleman, who has a total of 14 children, cited up to $50,000 in assets and debts ranging from at least $500,000 to upwards of $1 million. Her debtors include Verizon Wireless, Southern California Edison, the Department of Motor Vehicles, DirecTV, the water department of the city of La Habra, her father, a gardener, Sylvan Learning Center and a private school, to name a few.
Source: maricopacountybankruptcyattorney.com

‘Octomom’ Seeks Debt Relief by Filing for Chapter 7 Bankruptcy

Public scrutiny. Soon, media outlets began questioning Suleman’s ability to raise 14 children as a single mother. Suleman eventually admitted to ABC News that she was receiving between $4,000 and $5,000 each month in public assistance, but this may not have been enough to provide for her massive family.
Source: clearbankruptcy.com

Get Free Bankruptcy Advice for Filing Chapter 7 Bankruptcy Online

Filed 10/2/09 CERTIFIED FOR PUBLICATION IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA SECOND APPELLATE DISTRICT DIVISION FOUR ANDREW BUESA et al., Plaintiffs and Appellants, v. CITY OF LOS ANGELES, Defendant and Respondent. B212854 (Los Angeles County Super. Ct. No. BC378215) APPEAL from a judgment of the Superior Court of Los Angeles County, Elihu M. Berle, Judge. Affirmed. Law Office of David W. Allor and David W. Allor for Plaintiffs and Appellants. Rockard J. Delgadillo and Carmen Trutanich, City Attorneys, and Paul L. Winnemore, Deputy City Attorney for Defendant and Respondent. _________________________ 2 This is an appeal from a judgment on the pleadings in an action against the City of Los Angeles (City)1 brought by two former Los Angeles police officers, Andrew Buesa and Michael Cardenas. Plaintiffs seek damages for a violation of their rights under the Public Safety Officers Procedural Bill of Rights Act (Gov. Code, § 3300 et seq. (POBRA)).2 The gravamen of their complaint is that a perjured declaration submitted by the City deprived them of their statute of limitations defense in an administrative mandamus proceeding over their discharges. The issue is whether they may maintain this as a separate action, or whether under the doctrine of collateral estoppel it is barred by the final judgment denying their petition for administrative mandamus. We conclude that plaintiffs‟ action under POBRA is barred because it constitutes an impermissible collateral attack on the mandate judgment. FACTUAL AND PROCEDURAL SUMMARY Since this matter is on appeal from a judgment on the pleadings, we take our factual summary from the allegations of the second amended complaint, which is the charging pleading. On February 2, 2002, plaintiffs participated in the arrest of a suspect following a car and foot chase. The same day, the Los Angeles Police Department (LAPD) learned of alleged acts of misconduct by plaintiffs arising from that arrest. The next day, Sergeant Joe Losorelli, of the LAPD Internal Affairs Group, was assigned to investigate the alleged misconduct. On August 15, 2002, Losorelli met with a deputy district attorney in the Los Angeles County District Attorney‟s Office for the purpose of seeking a determination whether criminal charges should be filed against plaintiffs based on the February 2002 incident. Losorelli met with the deputy district attorney again on October 2, 2002, at which time he provided a copy of his investigation and witness statements. 1 Police Chief William J. Bratton was a named defendant in the original complaint, but he was deleted in the second amended complaint, the charging pleading. He is not a party to this appeal. 2 Statutory references are to the Government Code unless otherwise indicated. 3 According to plaintiffs, the district attorney‟s office opened its criminal investigation against plaintiffs that day. POBRA provides a one-year statute of limitations for bringing of police misconduct charges. The time runs from discovery of the misconduct. (§ 3304, subd. (d).) Section 3304, subdivision (d)(1) tolls the limitations period while a criminal investigation or prosecution is pending. On December 2, 2002, Losorelli asked LAPD superiors to toll the statute of limitations against plaintiffs because of the pending criminal investigation. He asked that the period be tolled from his August 15, 2002 meeting with the district attorney‟s office until the conclusion of the criminal investigation. The criminal investigation was terminated on February 11, 2003, when the deputy district attorney in charge of the case elected not to seek a grand jury indictment. Personnel complaints against plaintiffs were filed at the Los Angeles Police Commission on August 3, 2003, alleging misconduct arising from the February 2002 arrest. They were served the next day. On August 3, 2004, a board of rights found plaintiffs guilty of misconduct and recommended that they be discharged. On September 29, 2004, the chief of police adopted the recommendation that plaintiffs be terminated for failure to report the use of force against a suspect. The chief signed orders removing them from employment, effective that day. Plaintiffs filed a petition for writ of administrative mandamus (Code Civ. Proc., § 1094.5) on December 14, 2004 seeking review of their terminations. They alleged that Losorelli furnished a false declaration regarding tolling, which was used by defendant in responding to the petition. Allegedly, Losorelli knew that pursuant to a policy of LAPD and the district attorney‟s office, only the latter was authorized to open a criminal investigation against sworn personnel. According to the complaint, the district attorney‟s office opened the criminal investigation against plaintiffs on October 2, 2002. Plaintiffs allege: “Sergeant Losorelli knowingly and intentionally testified falsely that his investigation against plaintiffs was considered a criminal investigation from the beginning (as of February 2, 2002). Sergeant Losorelli knowingly and intentionally testified falsely that he first presented the case against plaintiffs to [the deputy district 4 attorney] for possible criminal filing at a July 31, 2002 meeting, when this meeting actually took place on August 15, 2002.” Allegedly, with knowledge that the August 3, 2003 personnel complaints against plaintiffs were time-barred, Losorelli presented a false declaration in the mandamus action “with the intent of fraudulently extending the tolling period for criminal investigations” authorized by section 3304, subdivision (d) “and with the malicious intent to deprive plaintiffs of their rights,” and further employment with the LAPD. According to plaintiffs, they discovered Losorelli‟s wrongful conduct on July 25, 2007, after the administrative mandamus proceeding was concluded. They do not explain the circumstances of that discovery. Plaintiffs‟ petition for writ of administrative mandate was denied by the trial court. The court found the weight of evidence at the administrative hearing supported the decision to terminate plaintiffs. It identified the application of the POBRA statute of limitations as “the main legal issue in the case.” The court noted that both sides had submitted documentary evidence and declarations on the limitations issue, and that no objection to this evidence was made by either side. The trial court found: “The disciplinary action against the petitioners is not barred by the limitations provision of the POBR” because of the tolling provision in section 3304, subdivision (d)(1). The court stated that charges were served on plaintiffs 18 months and two days after the alleged misconduct. It found: “The alleged misconduct was the subject of a criminal investigation that commenced on or before July 31, 2002, when an LAPD investigator met with the District Attorney regarding the matter, and which did not end until February 11, 2003, when the District Attorney decided not to ask the grand jury for an indictment because of the lack of evidence. The one-year limitation period was therefore tolled for six months and eleven days. The investigation was therefore completed and notice of charges were served upon the petitioner[s] within the 5 twelve month period required by section 3304(d).” No appeal was filed from the denial of the petition for administrative mandate and that order is now final.3 Plaintiffs filed their original complaint in this separate action seeking reinstatement on September 27, 2007. They filed a first amended complaint which was the subject of a successful motion for judgment on the pleadings. The motion was granted with leave to amend. Plaintiffs‟ second amended complaint dropped the claim for reinstatement, and, instead sought damages against the City for violation of POBRA. City responded with a new motion for judgment on the pleadings. At the first hearing on the motion, the trial court requested additional briefing on whether perjury in a prior proceeding may be the basis for a collateral attack on the judgment. After supplemental briefing on that issue, a second hearing was held. The court found: “The gravamen of this lawsuit is an action under Government Code section 3309.5, but it‟s based upon plaintiffs‟ claim for perjury in the underlying action in the mandamus proceeding.” The court observed that the weight of California authority is that perjury is not a basis for collateral attack on a judgment. It found “that since the gravamen of the complaint in this case is perjury in a prior proceeding and further based upon the principles of law that perjury in a prior proceeding, which is intrinsic fraud, is not grounds for collateral attack, the court is going to grant the motion for judgment on the pleadings.” Judgment was entered in favor of City. This appeal followed. DISCUSSION “The standard of review for a motion for judgment on the pleadings is the same as that for a general demurrer: We treat the pleadings as admitting all of the material facts properly pleaded, but not any contentions, deductions or conclusions of fact or law contained therein. We may also consider matters subject to judicial notice. We review the complaint de novo to determine whether it alleges facts sufficient to state a cause of 3 Plaintiffs sued their former attorney for malpractice for promising, but failing, to appeal the denial of the writ petition. We are not informed of the outcome of that action. 6 action under any theory. [Citation.]” (Dunn v. County of Santa Barbara (2006) 135 Cal.App.4th 1281, 1298.) The issue presented is whether the action for damages under POBRA is barred by the final judgment following denial of plaintiffs‟ petition for writ of administrative mandate pursuant to Code of Civil Procedure section 1094.5. Plaintiffs argue they are not collaterally attacking the mandate judgment, which is final, and therefore the doctrines of finality of judgments and collateral estoppel do not apply. Their theory is that their procedural rights under POBRA were thwarted by the alleged perjury by Sergeant Losorelli. Rather than seeking reinstatement to the LAPD, plaintiffs now seek damages for emotional distress, lost earnings and benefits (including pensions), both past and future. They also seek a civil penalty of $25,000 under section 3309.5, and costs of suit. Finally, plaintiffs seek “an order of injunctive or extraordinary relief that the court deems necessary and just to prevent such future similar actions on the part of defendants against other employees.” A. POBRA POBRA “sets forth a list of basic rights and protections which must be afforded all peace officers (see § 3301) by the public entities which employ them. (§§ 3300 et seq.) „It is a catalogue of the minimum rights (§ 3310) the Legislature deems necessary to secure stable employer-employee relations (§ 3301).‟ (Baggett v. Gates (1982) 32 Cal.3d 128, 135.)” (Gales v. Superior Court (1996) 47 Cal.App.4th 1596, 1600, fns. omitted (Gales).) Plaintiffs‟ second amended complaint alleges an action under section 3309.5, which provides a private right of action for police officers who claim a violation of their rights under POBRA.4 4 In pertinent part, section 3309.5 provides: “(a) It shall be unlawful for any public safety department to deny or refuse to any public safety officer the rights and protections guaranteed to him or her by this chapter. [¶] . . . [¶] (c) The superior court shall have initial jurisdiction over any proceeding brought by any public safety officer against any public safety department for alleged violations of this chapter. [¶] (d)(1) In any case where the superior court finds that a public safety department has violated any of the provisions of this chapter, the court shall render appropriate injunctive or other 7 B. Availability of POBRA Cause Of Action City argues that plaintiffs have not stated a cause of action under POBRA because the alleged perjury was committed in the administrative mandamus proceedings after plaintiffs had been discharged from the LAPD. At that point, City argues, plaintiffs were no longer peace officers as defined by section 3301. Plaintiffs respond that the purpose of POBRA would be defeated if their rights are guaranteed only up to the point of discharge. We need not resolve whether a cause of action lies under POBRA based on a false declaration filed in an administrative mandamus proceeding because the time to challenge the declaration is in the Code of Civil Procedure section 1094.5 proceeding. A subsequent collateral attack on that basis is not allowed, as we next discuss. C. Finality of Adjudications The California Supreme Court examined the principles underlying the finality of judgments in Cedars-Sinai Medical Center v. Superior Court (1998) 18 Cal.4th 1 (Cedars-Sinai), in which it held that there is no separate tort for intentional spoliation of evidence. The court reviewed several cases that denied a tort remedy for the presentation of false evidence or suppression of evidence and observed these decisions “rest on a concern for the finality of adjudication.” (Id. at p. 10.) “This same concern underlies another line of cases that forbid direct or collateral attack on a judgment on the ground extraordinary relief to remedy the violation and to prevent future violations of a like or similar nature, including, but not limited to, the granting of a temporary restraining order, preliminary injunction, or permanent injunction prohibiting the public safety department from taking any punitive action against the public safety officer. [¶] . . . [¶] (e) In addition to the extraordinary relief afforded by this chapter, upon a finding by the superior court that a public safety department, its employees, agents, or assigns, with respect to acts taken within the scope of employment, maliciously violated any provision of this chapter with the intent to injure the public safety officer, the public safety department shall, for each and every violation, be liable for a civil penalty not to exceed twenty-five thousand dollars ($25,000) to be awarded to the public safety officer whose right or protection was denied . . . . If the court so finds, and there is sufficient evidence to establish actual damages suffered by the officer whose right or protection was denied, the public safety department shall also be liable for the amount of the actual damages.” 8 that evidence was falsified, concealed, or suppressed. After the time for seeking a new trial has expired and any appeals have been exhausted, a final judgment may not be directly attacked and set aside on the ground that evidence has been suppressed, concealed, or falsified; . . . such fraud is „intrinsic‟ rather than „extrinsic.‟ [Citations.] Similarly, under the doctrines of res judicata and collateral estoppel, a judgment may not be collaterally attacked on the ground that evidence was falsified or destroyed. [Citations.]” (Ibid., italics added.) The claim that the judgment was based on forged documents or perjured testimony does not obviate the force of this policy favoring finality of judgments. As explained in Pico v. Cohn (1891) 91 Cal. 129, upon which the Supreme Court relied, “„[W]e think it is settled beyond controversy that a decree will not be vacated merely because it was obtained by forged documents or perjured testimony. The reason of this rule is, that there must be an end of litigation; and when parties have once submitted a matter . . . for investigation and determination, and when they have exhausted every means for reviewing such determination in the same proceeding, it must be regarded as final and conclusive . . . . [¶] . . . [W]hen [the aggrieved party] has a trial, he must be prepared to meet and expose perjury then and there. . . . The trial is his opportunity for making the truth appear. If, unfortunately, he fails, being overborne by perjured testimony, and if he likewise fails to show the injustice that has been done him on motion for a new trial, and the judgment is affirmed on appeal, he is without remedy. The wrong, in such case, is of course a most grievous one, and no doubt the legislature and the courts would be glad to redress it if a rule could be devised that would remedy the evil without producing mischiefs far worse than the evil to be remedied. Endless litigation, in which nothing was ever finally determined, would be worse than occasional miscarriages of justice . . . .‟” (Cedars-Sinai, supra, 18 Cal.4th at pp. 10-11, italics added, quoting Pico v. Cohn, supra, 91 Cal. 129, 133-134; accord, United States v. Throckmorton (1878) 98 U.S. 61, 68-69.) 9 D. Intrinsic Fraud Courts traditionally have distinguished between extrinsic and intrinsic fraud, a distinction which “is of critical importance because intrinsic fraud cannot be used to overthrow a judgment, even where the party was unaware of the fraud at the time and did not have a chance to raise it at trial.” (Pour Le Bebe, Inc. v. Guess? Inc. (2003) 112 Cal.App.4th 810, 828.) As we have discussed, the introduction of perjured testimony is a classic example of intrinsic fraud. (See also Kachig v. Boothe (1971) 22 Cal.App.3d 626, 634, cited with approval in Pour Le Bebe, Inc. v. Guess? Inc., supra, 112 Cal.App.4th at p. 828.) Plaintiffs argue these principles do not apply because their second amended complaint does not seek to invalidate the denial of the mandate petition and does not seek their reinstatement. They characterize the two actions: “The prior action litigated whether [plaintiffs] were entitled to equitable relief because inter alia the City of Los Angeles brought charges against them beyond the one year statute of limitations. The present action seeks statutory penalties and damages for a different and distinct violation of Government Code § 3309.5 by an employee of the City of Los Angeles.” They rely on Corral v. State Farm Mutual Auto. Ins. Co. (1979) 92 Cal.App.3d 1004 (Corral). Corral arose out of an uninsured motorist arbitration between an insured and her insurer. The insurer refused to stipulate that the third party involved in the accident with the insured was uninsured. The arbitration was continued to allow the insured to obtain evidence that the third party was uninsured or to obtain a stipulation to that effect. When neither was obtained, counsel for the insured submitted on the evidence produced at the hearing. The arbitrator found for the insurer. Six weeks later the insured sought to reopen the arbitration based on a new declaration from the third party stating that he was uninsured. The request was denied on the ground the arbitrator lacked authority to grant the relief requested. (Corral, supra, 92 Cal.App.3d at pp. 1007-1008.) The insured‟s motion in the superior court to vacate the arbitration award was denied as untimely, a ruling that was affirmed by the Court of Appeal. (Id. at p. 1008.) 10 The insured then filed a separate action against the insurer for breach of the duty of good faith and fair dealing. In it, she alleged that at all times the insurer knew that the third party was uninsured, and fraudulently contended at the arbitration hearing that he was insured. In opposition to the defense motion for summary judgment, counsel for the insured submitted his declaration in which he stated that a claims manager for the insured had told him before the arbitration that the insurer would treat the claim as an uninsured motorist case. The attorney declared that, in reliance on these assurances, he made no effort to obtain evidence of the third party‟s lack of insurance coverage. (Corral, supra, 92 Cal.App.3d at pp. 1008-1009.) The Corral court rejected the insurer‟s argument that the bad faith action was barred by either res judicata or the policies underlying finality of judgments. (Corral, supra, 92 Cal.App.3d at p. 1009.) Instead, it held that each proceeding was based on a different claim of right: the arbitration proceeding was brought to recover benefits under the uninsured motorist provision of the insurance contract; the bad faith cause of action was not based on facts surrounding the automobile collision or the terms of the insurance policy, but on bad faith (refusal to acknowledge that the third party motorist was uninsured) committed after the collision. The court concluded that the bad faith claim constituted a different cause of action, and so was not barred by collateral estoppel. (Id. at pp. 1011-1012.) It held that the bad faith action was “not a collateral attack upon the arbitrator‟s award as it is not directed toward directly preventing the enforcement of that award or defeating rights acquired under it.” (Id. at p. 1013.) The court in Corral acknowledged a then recent case that reached a different result, but disagreed with its holding. The case was Rios v. Allstate Ins. Co. (1977) 68 Cal.App.3d 811, which held that the doctrine of finality of judgments barred a separate action for bad faith alleging that in an arbitration between insurer and insured, the insurer had presented false evidence and testimony. (Corral, supra, 92 Cal.App.3d at pp. 1012-1014.) But Rios (and several other decisions) were cited with approval by our Supreme Court in Cedars-Sinai, supra, 18 Cal.4th at page 10. Of course, the Corral court did not 11 have the benefit of the Supreme Court‟s reasoning in Cedars-Sinai, which was decided some 19 years later. Plaintiffs do not cite or discuss Rios, but argue that Corral should apply because in that case, as in this one, the facts giving rise to the second action occurred during the first proceeding. They contend: “As demonstrated in Corral, it is the extraordinary obligations of the defendant that allows the second action to proceed. In that case, it was the insurance company‟s obligation of good faith and fair dealing. . . . Similarly, in the present case the City of Los Angeles cannot get away with its conduct at the hearing on the writ where it presented the perjurous [sic] declaration because it had an independent obligation not to violate [plaintiffs‟] rights under Government Code, § 3309.5.” Here, to prevail in their action for damages, plaintiffs had to prove a violation of POBRA based upon defendant‟s reliance on a perjured declaration to show that the tolling of the time to file disciplinary actions lasted long enough to render their discharges timely. This goes to the heart of the trial court‟s finding in the mandate proceeding. To the extent that Corral stands for the proposition that the finality of judgments doctrine does not apply to a separate bad faith action arising from the presentation of false or perjured testimony in an earlier proceeding, we disagree, and instead follow Cedars-Sinai, supra, 18 Cal.4th 1 and Rios, supra, 68 Cal.App.3d at pp. 818-819. Plaintiffs also rely on Miller v. Campbell, Warburton, Fitzsimmons, Smith, Mendel & Pastore (2008) 162 Cal.App.4th 1331 (Miller). In that case, the executor of an estate hired a law firm to represent her in connection with her duties. At the conclusion of the probate matter, the firm requested and was awarded its fees except for one category which the probate court found to involve work for the executor in her individual capacity. The firm did not appeal that decision. Instead, it filed a new action seeking quantum meruit recovery of the denied fees directly from the client. The trial court held the action was barred by the final judgment in the probate case. The Court of Appeal reversed. Significantly, it found that the probate court did not decide that the law firm was not entitled to the additional fees, but only that the fees were not payable out of the estate. 12 (Id. at p. 1341.) As the Miller court explained, the probate court never ruled on the firm‟s entitlement to fees directly from its client, and therefore there was no basis for collateral estoppel. (Id. at p. 1343.) The case before us is quite different. The court ruled on the tolling issue in the mandate proceeding. Indeed it was the central question in the case. “„Collateral estoppel precludes the relitigation of an issue only if (1) the issue is identical to an issue decided in a prior proceeding; (2) the issue was actually litigated; (3) the issue was necessarily decided; (4) the decision in the prior proceeding is final and on the merits; and (5) the party against whom collateral estoppel is asserted was a party to the prior proceeding or in privity with a party to the prior proceeding. (Lucido v. Superior Court (1990) 51 Cal.3d 335, 341.)‟ (Zevnik v. Superior Court (2008) 159 Cal.App.4th 76, 82.)” (Plumley v. Mockett (2008) 164 Cal.App.4th 1031, 1048-1049.) That describes the present case. Because the tolling issue was actually litigated in the mandate proceeding, a new claim based on the allegedly perjured declaration is a collateral attack on the mandate decision. Perjured testimony cannot be the basis for a separate proceeding. (Cedars-Sinai, supra, 18 Cal.4th at pp. 10-11.) In light of our conclusion, we need not and do not address City‟s other arguments. DISPOSITION The judgment is affirmed. City is to have its costs on appeal. CERTIFIED FOR PUBLICATION. EPSTEIN, P. J. We concur: WILLHITE, J. MANELLA, J. 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If you file Chapter 7 bankruptcy, it is very unlikely you will get to keep your house. This is because Chapter 7 mandates that personal assets be liquidated to cover debts. Your house could be included in these assets. Regulations on liquidation of homes and retention of home equity under Chapter 7 bankruptcy vary from state to state. Be sure to investigate your state’s particular rules if you are considering this option.
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Bankruptcy Fees: Arizona Bankruptcy Help

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The President of the bankruptcy help nevada of the bankruptcy help nevada for insolvency. A simple meeting and consultation with an attorney. From here, you will not take bankruptcy lightly because filing is not the bankruptcy help nevada to avoid bankruptcy because they want to go into receivership. The job of the bankruptcy help nevada in more trouble than you already are in. You may also want to consider a few exceptions, such as a threat, it will have a price tag. You just have to give up any of the other important documents which must be below their state’s median income. This type of bankruptcy before you take the tampa bankruptcy help a business does become insolvent, there are different steps that need to have a sound legal and valid solutions to help you. It’s not a stopgap measure, or something to be greeted by a new group of bills, and messages from bill collectors, it becomes a depressing situation. Often, through no fault of your creditors. Any nonexempt assets owned on the bankruptcy help nevada for you. As most of your unsecured debts so there is pool of resources on the atlanta bankruptcy help are worked out, your credit card bankruptcy has become a problem.
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If you are problematic with too much debt, now is the time to discuss it with the help of some bankruptcy services. Who would deny that everyone has a problem with money? Money is not a thing that you can find very easy in anywhere. So, dealing with your finances is not just a happy-go-lucky task. It must be strictly guarded and must be seriously put as top priority. Having a bankruptcy attorney would be an advantage for you that would give you advices for you to have a wide scope of options and consideration in your bankruptcy problem. Never be ashamed to file bankruptcy, remember that it is better that you make a step right away with some services and to people that will help you in solving your financial problem. A help of an expert?s advice is recommended.
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Does mentioning bankruptcy help with settlement?

I actually had good luck with mentioning BK in my settlement efforts, though I did it very carefully and midly sort of like the above poster mentioned. What I did was this: When I began having conversations with my creditors early into my planned default the obvious question was "why havent I been able to make my payments" The obvious response on my part of "Im having money troubles" led to the predictable probing questions about my monthly income vs outlay (i.e. did I make enough to make the payments and was just refusing). Knowing all this I had concocted a fictitious monthly balance sheet that I regurgitated for them to where it appeared that I only had around 100 a month to the positive NOT INCLUDING debt service. In other words in a given month IF Nothing bad happened (car repair, unexpected medical bill, etc) I only had 100 bucks to spare in a month. (Heres where the bankruptcy comes in)…………… When I first started mentioning settlement very very early as a "down the road" possible option I mentioned that I did not my own home (this told them that there would be no equity for them to go after (or lien against) nor for a BK trustee to tap for them. At this point I had not mentioned BK. I also told them (falsely) what I netted every month. They had no way to know this but the number put me firmly in a chapter 7 position should I choose to do so. At this point I still had not mentioned BK. This point and the above told them I probably would pass the means test though. I also told them that IF I was able to settle I would have to sell what little posessions I owned to get settlement money. I also told them (truthfully) that my own 401k plan did not allow me to access it in any form short of medical emergency. I even told them what I had that would actually bring me any money and that I planned to start selling it immediately. At this point I still had not mentioned BK. This and an above point told them I probably did not have any non exempt assets What I was doing here was setting the stage of a person that is basically a shoe in for a CH7 but who either doesnt know it or doesnt want to do it but if left with no other option would find no real impediment. Then and only when I had set the stage for about 5 months and the 6 month charge off date was close did I mention that I "now" have talked to a BK attny just to see what they recommended. I claimed then that my attny said it would be easy to just file a 7 and forget it (which was true). But that I found that route distasteful morally since, to be honest I did borrow the money and feel its "right" to pay back what I’m able to. Coincidentally this amount is almost exactly 25% of the debt that you are trying to collect. Boiled down it was "I know details about bankruptcy (meaning I have either talked to an attny or researched it greatly) and I qualify for one. I know you will get pretty much nothing in a CH7 but I’m willing to offer you this % and if you take it It WILL KEEP ME FROM FILING BK. So you dont threaten, you ask for their "help" in keeping you out of mean old BK and you also let them know that you wont be filing if they take the settlement (so the trustee wont yank back that money as a preferred payment). This all worked like clockwork for me but I put incredible amounts of time into concocting this scheme and creating this illusion of someone that just isnt making it. Your mileage may vary. My asset situation was such that it all worked out wonderfully at least for my large creditor who I settled with. I still have 4 yapping at my heels now that Ive had no real contact with but Im waiting for SOL to fall out now.
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For several, bankruptcy hearing dispense principles can be quite complicated together with a bankruptcy lawyer has got to be massive assist. If the borrower contains transported outside the state just before personal bankruptcy, this Phoenix bankruptcy lawyer may need to postpone all the submitting maybe need to use typically the consumer bankruptcy exceptions through the point out that that they changed out of. The general rule from a consumer bankruptcy submission will be the person in debt really should inhabit the state run a week or two numerous years make use of of which state difference legislation. All of the a bankruptcy proceeding courts is knowing in addition to is aware that people move therefore the customer should dwell in the state of hawaii they are declaring bankruptcy for ones largest part of 180 months and / or primarily 11 weeks. Should the chapter 7 exemptions out of your say usually do not are positioned your current ski boat an individual could work with the govt chapter 7 exemption laws and regulations.
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Eldridge Financial Review: Can filing bankruptcy help you discharge your IRS debt?

http://eldrigefinancialreviews.com/category/economic-issues/ Filing bankruptcy does not discharge your debts like student loan alimony, child support and so on. Your IRS tax debt might not discharge even after filing bankruptcy. If you have an option to get relief from tax obligation then avoid filing bankruptcy. You can successful discharge your IRS tax debt if you meet certain requirements. You can read further to know the eligibility requirement to file bankruptcy in order to discharge debt. Know the chapter under which you can file: When you plan to discharge your IRS tax debts through bankruptcy then you are required to qualify under chapter 7 Bankruptcy in order to clear your debts. In case you are unable to qualify for chapter 7 bankruptcy then file under chapter 13 to eliminate your financial woes. You are required to undergo strict eligibility criteria despite you qualify for chapter 7 bankruptcy. What are the requirements of the filing procedure? Before you file under chapter 7 bankruptcy the IRS requires you to fulfill five requirements. 1. You are eligible to file bankruptcy if your IRS debt is a result of an underpayment of personal income taxes. Remember that other debts like delinquent payroll taxes, estate, gift, sales or fuel taxes, penalties or a federal tax lien will not be discharged under chapter 7 bankruptcy. 2. If you avoid paying IRS taxes by providing a false Social Security number then you might not qualify filing under chapter 7 bankruptcy to discharge your IRS tax debt. 3. In case your debts are not more than 3 years old then you might not qualify for discharging your IRS debt through chapter 7 bankruptcy. 4. If you have incurred debt on your tax return then remember that the debt must be a minimum of 2 years old. 5. Make sure that you maintain a gap of 240 days between the day the IRS first issued a bill for the debt and the day you file for bankruptcy. What are the alternative options you have? If you are unable to file your IRS under chapter 7 bankruptcy then you can propose for Offer in Compromise. Remember that this option will not discharge your debts but if your offer is approved by the IRS then it will help to lower the amount you owe. You can pay off the owed amount through a lump sum payment. If you are unable to make a lump sum payment then a 24 monthly installment payment plan can be beneficial for you. You can also opt for a deferred periodic payment plan by extending the repayment plan from the date IRS approves your application till the statute of limitations for collection ends. Make sure you hire the services of a bankruptcy lawyer in order to know whether your IRS debts will be discharged through bankruptcy. Source: fc2.com
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Getting free counsel online enlightens our situation without having to worry about professional lawyer fees. This can be to our advantage if we are really in big trouble, but we want to take care of things ourselves to save on additional charges. These free sites help us obtain the necessary knowledge in filing bankruptcy through the assistance of financial counsel and bankruptcy attorney who would not charge us a single penny. Trying out these websites can be a good way to start to determine our options in managing our debts. In this way, we can have the best idea on how are we going to handle our debts without having to spend a great deal of money on professional fees.
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Eldridge Financial Review: Can filing bankruptcy help you discharge your IRS debt?

Filing bankruptcy does not discharge your debts like student loan alimony, child support and so on. Your IRS tax debt might not discharge even after filing bankruptcy. If you have an option to get relief from tax obligation then avoid filing bankruptcy. You can successful discharge your IRS tax debt if you meet certain requirements. You can read further to know the eligibility requirement to file bankruptcy in order to discharge debt. Know the chapter under which you can file: When you plan to discharge your IRS tax debts through bankruptcy then you are required to qualify under chapter 7 Bankruptcy in order to clear your debts. In case you are unable to qualify for chapter 7 bankruptcy then file under chapter 13 to eliminate your financial woes. You are required to undergo strict eligibility criteria despite you qualify for chapter 7 bankruptcy.
Source: dropjack.com

Each of these companies filed Chapter 11 in hopes of coming up with a plan to repay its creditors by restructuring its operations. As opposed to Chapter 7 for businesses, which is typically chosen when there is no viable plan to continue and the amount of outstanding debt greatly outweighs the assets of the company, Chapter 11 is often seen as a stepping stone toward future growth.
Source: gobankingrates.com

Video: Chapter 11: Bankruptcy Restructuring

HBC Services Finance Info

Chapter 12 bankruptcy is used by those who live on agricultural homesteads. If you declare Chapter 12 bankruptcy and the home in foreclosure is part of the farm, you can protect it from foreclosure while entering a repayment agreement with your creditors. However, if the home is on a separate parcel than the farm or the house is located in town while the farm is part of a separate property nearby, filing Chapter 12 bankruptcy to save the farm does not stop foreclosure of a separate, personal residence.
Source: hbcservices.org

Tips And Advice For Dealing With Personal Bankruptcy

Explore all of the options available to you before you file for bankruptcy. Filling for bankruptcy can have some serious future implications. For instance, getting a mortgage application approved when you have previously been bankrupt will be tough to say the least. Therefore, you should thoroughly investigate all of the alternatives to bankruptcy. Perhaps you could borrow money from a family member or consolidate some of your debts.
Source: officerelocationmagazine.com

Advantages of Hiring Bankruptcy Attorney

An individual can file for chapter 13 bankruptcy if his unsecured debts are less then USD 307,675 and secured debts are less then USD 922,975. If you are self employed or run an unincorporated company, you can file chapter 13 bankruptcy. Filing a petition under this, automatically stops efforts of collectors. There is another provision for co debtors. It provides a stay for them as well. The creditor can not approach any co debtor without permission of court first.The provisions of a confirmed plan bind the debtor and each creditor. Once the court confirms the plan, the debtor must work towards implementing the plan.
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Transparency crucial in bankruptcy proceedings

This case not only emphasizes the importance of transparency when filing for bankruptcy, but also depicts that bankruptcy can be overwhelming. Filing bankruptcy can be a complicated affair, especially if there is a large amount of assets involved, such as in Martino’s case in Denver. Transparency can easily avoid the complications that this bankruptcy case witnessed. But even more important is choosing an advocate that will work on your behalf when filing for bankruptcy. Bankruptcy is a real and substantial alternative to help individuals whose debts far outdistance their liabilities. While the process is not for everyone, and must be accomplished according to relevant law and court procedures, the relief ultimately granted in the form of a Chapter 7 discharge is well worth the effort and may well result in a new financial lease on life.
Source: denverbankruptcylawblog.com

Chapter 13 Bankruptcy: Facts and Information

The most prevalent options for eliminating or reorganizing debt are to file Chapter 13 and Chapter 7. Chapter 13 is designed to be filed by businesses owned by a sole proprietor, but can be filed by an individual if certain requirements are met, and is advantageous for the debtor in that they can retain their business by agreeing to a plan of reorganization. The high point for the debtor in this arrangement is that they can stop foreclosure proceedings and may even be able to clear up any mortgage default proceedings brought on by missed payments. Generally, Chapter 13 requires the proprietor to repay all or a portion of the debt over a pre-determined time span which is normally between three to five years.
Source: familylawyertorontox.com

Considerations of Hiring Bankruptcy Attorneys

Bankruptcy attorneys are an essential element to obtaining court approval in both individual and corporate cases. Individuals are allowed to file petitions without legal counsel, but companies must have a legal representative. Although bankruptcy attorneys are not required for personal bankruptcy, filing without legal counsel can be a costly mistake. New guidelines enacted under the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) has made it extremely difficult to undergo the process alone. One missed deadline or improper form could cause debtors to have their petition denied and lose the option of obtaining debt help through this method for 8 years. Lawyers that specialize in this field can help guide debtors through the process and ensure they comply with BAPCPA regulations. Most attorneys specialize in either personal or corporate bankruptcy, but some offer both. This can be helpful to debtors who operate business as a sole proprietor or partnership. Within the United States there are six bankruptcy chapters. Chapter 7 and 13 are used for personal bankruptcy, while 9 and 11 are used for partnerships and corporations. Chapter 11 can also be used by individuals who meet certain criteria. Commercial farmers and fishermen file for protection under Chapter 12, while Chapter 15 is reserved for international cases. It can be advantageous to shop around for bankruptcy attorneys. The process can be somewhat intrusive because lawyers need to know everything about personal finances. Debtors often spend a lot of time with their attorney, so it can be helpful to work with someone you can be comfortable with while having a high level of confidence in their ability to get things done. The majority of law firms offer complimentary meet-and-greet sessions to answer questions. When possible, meet with three or more attorneys and their staff. Paralegals carry the vast majority of workload on bankruptcy cases. This is beneficial to clients because it reduces their legal fees. When setting up appointments request to meet all personnel working on your case. If you aren’t comfortable with team members or don’t mesh with their personalities, don’t hire them. Bankruptcy is a tough process and working with lawyers you don’t like makes the process even more difficult. It can be helpful to spend time learning about BAPCPA and researching bankruptcy alternatives before hiring a lawyer. The new laws can be difficult to fully comply with because they require debtors to establish a payment plan that can extend for up to 5 years. Bankruptcy payments are in addition to normal monthly expenses. Those already struggling to make ends meet will find it difficult to adhere to payment plans. If debtors do not comply the court can dismiss their petition and creditors can take legal action. BAPCPA requires debtors to engage in credit counseling before their petition is approved. This can be helpful to debtors unfamiliar with money management skills. It can also be helpful to those who have incurred high level debts through dire situations such as chronic health problems, long-term unemployment, or death of a spouse. Credit counselors are sometimes successful negotiating payment plans with creditors and can help debtors avoid bankruptcy altogether. Creditors have a tendency to be more open to negotiation when bankruptcy is a probability. If bankruptcy is the only viable option, take time to find the right bankruptcy attorneys for the job. A good place to start is the American Bar Association website at abanet.org.
Source: abcarticledirectory.com

What is Chapter 11 Bankruptcy? Is it Right for Me? Washington Business Attorney Jeff Helsdon

If you have knowledge in the bankruptcy field, you may want to file for bankruptcy yourself. And that is an option, but you should know there are a lot of details and decisions that must be made to not only file but continue with the plan. As an individual this is possible. However, a business may not file a Chapter 11 bankruptcy by them, this is against the law. A business must have an attorney guide them through this very detailed process. Watch the video now to learn more.
Source: bankruptcy-questions.net

I am in chapter 13 can i get a personal loan

The cost for bankruptcy varies by jurisdiction so I cant answer that for you. For a chapter 13 most attorneys will require a partial payment up front and the rest to be paid through the plan though some require full payment. For a chapter 7 payment is always up front. A lawyer cant guarantee your bankruptcy will receive a discharge. Especially not in a chapter 13 where a myriad of things can go wrong. If you ever get to the point you cant make payments your Chapter 13 can be dismissed though if you are proactive and your circumstances have changed you should be able to successfully convert to a chapter 7 so no the attorney will not and cannot guarantee results.
Source: alexweb.org

Los Angeles Dodgers get new start through Chapter 11 bankruptcy

Los Angeles residents who are considering filing for bankruptcy protection, perhaps even as a result of a bitter divorce battle, may relate on some level to their beloved Dodgers’ plight. Although Chapter 11 bankruptcy is a rare form of bankruptcy that is most often utilized by corporations, it offers the possibility of the same “clean slate” that other, more common, forms of bankruptcy offer individuals. The main difference is that because corporations are very complex, the regulations governing Chapter 11 bankruptcy are also very complex. Chapter 7 and Chapter 13 bankruptcy, on the other hand, are geared toward individuals going through personal bankruptcy, and are thus much less complicated, time-consuming, and costly.
Source: hagenhagenlaw.com

Bankruptcy Information: Chapter 7, 11, 12, 13

Also known as reorganization, this type of bankruptcy is for individuals and more commonly, businesses to restructure debt. Here the debtor maintains ownership of assets and attempts to work out plan to pay back creditors. It is the most complicated form and usually reserved for businesses or very wealthy individuals. The reorganization and payment plan is due in under 120 days, as part of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act.
Source: aprfinder.com

Bankruptcy in a Nutshell: The Different Types of Bankruptcy

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