Bankruptcy

Small Business Reorganization After Covid-19 Pandemic: Better and Cheaper Options

Posted on June 16, 2020
In a recent article the New York Times, citing a poll, rather pessimistically stated that more than 40% of the small businesses in the country could close permanently in the next six months because of the coronavirus pandemic. Hopefully this not come to pass as the economy is opened up and we are able to… Continue Reading

Bankruptcy and Reorganization for Small Businesses After Covid-19.

Posted on May 26, 2020
If you own a small business you are most likely very concerned about making it through the next few months.  Unfortunately, one of the inevitable consequences of the ongoing Covid-19 crisis is the increase in business closings – temporarily or permanently...

The Krystal Company Files for Chapter 11 Bankruptcy in Northern District of Georgia

Posted on January 21, 2020
The Krystal Company files Chapter 11 Bankruptcy Petition in the Northern District of Georgia on January 19, 2020. Case No. 20-61065. The company is represented by King & Spalding. According to pleadings, the company owns 182 Krystal restaurant locations...

Can Debtor?s Counsel Also Represent A Non-Filing Spouse (Or Other Party) In A Rule 2004 Examination? Maybe.

Posted on February 24, 2017
This is an issue that comes up fairly often, although normally no objections are made for a Rule 2004 examination.  As long as the lawyer is not obstructive, it is usually not worth the additional time and expense of filing an objection.  In In re Craig, Ch...

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N.D. Ga. ? Judge Sacca Holds Interest Rate Paid Pursuant To 11 U.S.C. §726(a)(5) Is Federal Judgment Rate.

Posted on February 24, 2017
It is the rare Chapter 7 case that ends up with sufficient estate assets to pay all claims in full, plus interest as required by 11 U.S.C. §726(a)(5).  The question addressed by Judge Sacca in In re Robinson, Ch. 7 Case No. 15-51556, 2017 WL 713571 (Bankr...

11th Circuit Addresses Split Of Authority: Oral Statement Respecting Single Asset Falls Within Scope Of §523(a)(2)(A) Rather Than §523(a)(2)(A)

Posted on February 16, 2017
In In re Appling (Appling v. Lamar, Archer & Cofrin, LLP), No. 16-11911, 2017 WL 603833 (11th Cir. February 15, 2017) (click here for .pdf), the Court addressed a question that has divided several other courts – Can a statement about a single asset be a “statement respecting the debtor’s … financial condition” for purposes… Continue Reading

Judge Basier: Debtor May Redeem Real Property Sold At Tax Sale And Pay Redemption Amount Over Term Of Chapter 13 Plan.

Posted on February 11, 2017
In In re Jimerson, Ch. 13 Case No. 16-60838, 2017 WL 393675 (Bankr. N.D. Ga. January 26, 2017 (Basier, J.) (click here for .pdf of opinion), the debtor’s property had been sold at a tax sale for non-payment of Fulton County property taxes.  The purchaser at the tax sale sent the appropriate Barment Notice providing… Continue Reading

Fourth Circuit: Debtors Entitled To Full National And Local Standard Amount Of Expenses If They Incur An Expense In That Category.

Posted on February 11, 2017
Our neighbors to the north recently had a key, debtor-friendly, decision in a Chapter 7 case regarding what expenses may be used in the means test calculations.  In In re Jackson, 2017 WL 59011, Ch. 7 No. 16-1358 (4th Cir., January 5, 2017) the debtors had used the entire amount allowed by the “National and… Continue Reading

Can Non-Citizens, ?Undocumented Workers,? and ?Illegal Aliens? File For Bankruptcy In The United States?

Posted on February 03, 2017
Quite obviously, both immigration and the status of “undocumented” or “illegal” aliens currently in the United States is a hot topic now, and surely will be for a long time.   One issue that shows up in Bankruptcy Courts, albeit rarely, is whether non-citizens, whatever their official status, have access to Bankruptcy Courts in the United… Continue Reading

One Year Time Period For §727(e) Revocation Of Discharge Cannot Be Extended Or Equitably Tolled.

Posted on February 01, 2017
In In re Anzo, Ch. 7 Case No. 14-22766-jrs, 2017 WL 432787 (Bankr. N.D. Ga. January 30, 2017) (click here for .pdf of opinion), the debtor had been granted a discharge on September 29, 2015 and the case was closed on the same date.  Almost a year later, on September 27, 2016 (two days prior… Continue Reading

Lawsuits Being Flying Against Officers, Directors, Insiders And Professionals Of Failed Banks

Posted on February 26, 2011
The State of Georgia is among the national leaders in banks closed by state and federal agencies.  So far in 2011, six Georgia banks have been closed, with the latest two being Habersham Bank and Citizens Bank of Effingham.  Since late 2008, when the banking crisis hit, a total of fifty seven Georgia banks have been closed...

Atlanta Bar Association, Bankruptcy Section, Monthly Breakfast Meeteings

Posted on January 14, 2011
The Bankruptcy Section of the Atlanta Bar Association enthusiastically announces the commencement of monthly Breakfast Meetings in Year 2011. Please save the dates listed below and come join your colleagues for delicious food, collegiality and entertaining speakers...

Where Are All The Real Estate Bankruptcies? Here Are Some Possible Answers.

Posted on December 19, 2010
As many business bankruptcy lawyers understand, there has not been a groundswell of real estate and single asset bankruptcy cases, as predicted during the beginning of the current economic downturn.  The latest edition of the Georgia Bar Journal has an article entitled "What Happened to Real Estate Bankruptcies?" by Al Adams and Jason Kirkham, and the authors propose several reasons for the relatively few cases that are being filed...

How Much Does A Chapter 11 Bankruptcy Cost? Why Is It So Expensive?

Posted on November 28, 2010
Lawyers who handle Chapter 11 Bankruptcy cases for small to medium size businesses usually address these questions in the initial conversation with potential clients.  "How much is a Chapter 11 case?"  "Why is it so expensive?"  "I just want to stop the foreclosure/lawsuit/collection, then we can dismiss...

Atlanta Bar Bankruptcy Year In Review On December 7, 2010.

Posted on November 13, 2010
Bankruptcy and Commercial Law Year in Review   (Click Here for detailed Brochure). Tuesday, December 07, 2010 (9:00 AM - 3:30 PM) The Commerce Club at 191 Peachtree 49th Floor 191 Peachtree Street NE Atlanta, GA United States AGENDA and FACULTY 8:30a - Registration and refreshments 9:00a - Bankruptcy Law Year in Review, Part 1 Hon...

Mrs. Winner's Chicken & Biscuits Files Chapter 11 Bankruptcy Petition in N.D. Georgia

Posted on November 11, 2010
Mrs. Winner's Chicken & Biscuits, a fast food chain familiar to Atlanta residents has filed a Chapter 11 Bankruptcy petition in the Northern District of Georgia.  In re Famous Recipe Company Operations, LLC d/b/a Mrs. Winner's Chicken & Biscuits, filed November 10, 2010...

The Emergency in Haiti: Can You Help?

Posted on October 23, 2010
I rarely go off-topic in this Blog, and have not used it to promote personal causes, but I am compelled to add this note about Haiti.  I just returned this past Thursday from my second trip to Haiti this year. Most of the trip was spent in the community of Bohoc, Haiti which is about 90 miles (145 kilometers) northeast of Port-au-Prince, the capital of Haiti...

Atlanta Bar Bankruptcy Section Meet & Greet Happy Hour

Posted on October 02, 2010
 Wednesday, October 6, 2010 - 5:30 pm  Meet and greet Judge Wendy Hageanu, recently appointed Bankruptcy Judge for N.D. GA. and toast the 5th anniversary of surviving BAPCPA. Location: No Mas! Cantina 180 Walker Street Atlanta, GA 30313 404...

The Chapter 7 Bankruptcy Filing Of American Shingle & SIding, Inc.

Posted on September 05, 2010
The local and national news has picked up on the Chapter 7 Bankruptcy filing of American Shingle & Siding, Inc.  The case was filed on September 2, 2010, as Chapter 7 Case No. 10-85541-MGD (click here for the petition).  The schedules were not filed with the petition, but the petition indicates that the company had assets between $1-10 million, and claims of $10-50 million...

Northern District Bankruptcy Judges Rule On Deed Attestation Issues

Posted on August 07, 2010
Two recent bankruptcy cases involved the application of Georgia law on deed attestation.  In both cases, the trustee was attempting to set the lien pursuant to section 544 of the Bankruptcy Code. In Gordon v. Wells Fargo, Adv. No. 08-6612, 430 B...

Milavetz: U.S. Supreme Court To Bankruptcy Lawyers -- You Are Debt Relief Agencies

Posted on March 08, 2010
 Milavetz, Gallop & Milavetz, P.A. v. United States, No. 08-1119 (March 9, 2010) (click here for opinion). The majority opinion was written by Justice Sotomayor.   Justices Scalia and Thomas filed opinions concurring in part in the opinion, and the judgment...

Do "Activists" Have Standing To Object To A Chapter 11 Plan Of Newspaper Publisher?

Posted on March 07, 2010
Seraphin v. Morris Publ'g Group LLC (In re Morris Publ'g Group LLC), 2010 Bankr. LEXIS 488, Ch. 11 Case No. 10-10134 (Bankr. S.D. Ga. Feb. 9, 2010). Morris Publishing Group and 15 affiliates filed Chapter 11 petitions on January 19, 2010.  The Debtors filed a prepackaged plan under which all classes were unimpaired...

11th Circuit Confirms That Potential Claims And Lawsuits Must Be Diclosed Or A Debtor Will Be Judicially Estopped From Pursuing Them.

Posted on February 28, 2010
There have been several cases over the years dismissing lawsuits by Debtors who failed to list the claim as an asset in their Bankruptcy schedules.  As the opinion below confirms, the same duty applies where the claim arose after the filing of a Chapter 13 case and even where the Debtor proposed to pay, and in fact did pay, all claims in full through a Chapter 13 plan...

Does A Credit Card Issuer Have A Security Interest In Good Purchased On Card? Yes, says Judge Bonapfel.

Posted on February 28, 2010
In a case that will likely be much more relevant to Chapter 13 cases, rather than Chapter 7 cases (where creditors are far less interested in repossessing household goods), Judge Bonapfel has ruled that a store credit card issuer's claim must be treated as secured in the Debtor's Chapter 13 plan...

ND Ga - Chapter 7 Case Not Dismissed Merely Because Debtor Had Not Filed Tax Returns In Several Years

Posted on February 28, 2010
In re Stevens, 2010 Bankr. LEXIS 463 (Bankr. N.D. Ga. Jan. 28, 2010) (Bonapfel).  The United States Trustee filed a Motion to Dismiss the Chapter 7 case on the grounds that the Debtor had not provided a copy of his tax return within 7 days before the first meeting of creditors, and Debtor testified at the meeting that he had not filed a return for 15 years...

Venue For Large Chapter 11 Cases: Has The Supreme Court Changed the Rules?

Posted on February 25, 2010
The rules for venue for bankruptcy cases are found in 28 U.S.C. § 1408, which provides the following: Except as provided in section 1410 of this title, a case under title 11 may be commenced in the district court for the district— (1) in which the domicile, residence, principal place of business in the United States, or principal assets in the United States, of the person or entity that is the subject of such case have been located for the one hundred and eighty days immediately preceding such commencement, or for a longer portion of such one-hundred-and-eighty-day period than the domicile, residence, or principal place of business, in the United States, or principal assets in the United States, of such person were located in any other district; or (2) in which there is pending a case under title 11 concerning such person's affiliate, general partner, or partnership...

Seventh Annual Emory Bankruptcy Developments Journal Symposium

Posted on February 23, 2010
The Seventh Annual Emory Bankruptcy Developments Journal Symposium will be held on March 4, 2010.  The schedule for the event is below. You can register by clicking here.   Symposium Schedule 8:00 am – 8:45 am Registration and Breakfast 8:45 am – 8:50 am Welcome     Dean David Partlett 8:50 am – 9:50 am Panel Discussion 'Ponzi Schemes—Bankruptcy Court v...

ND Ga - Creditor Not Entitled To Default Judgment; Responsibilities Of Lawyers

Posted on February 06, 2010
Chase Bank USA, N.A. v. Hampson (In re Hampson), 2009 Bankr. LEXIS 3412, Adv No. 09-4059 (Bankr. N.D. GA September 11, 2009) (Bonapfel). Plaintiff Bank sought an order of nondischargeabilty for cash advances taken by the Debtor within 174 days of the filing of her Chapter 7 case...

ND Ga - Chapter 7 Trustee Cannot Sell Avoidance Claims

Posted on February 06, 2010
In re McGuirk, 414 B.R. 878 (Bankr. N.D. Ga. August 31, 2009) (Bihary).  A creditor approached the Chapter 7 Trustee about purchasing the assets of the Chapter 7 Estate, including the avoidance actions (although the Trustee apparently believed there were no such actions available in the case)...

Southeastern Bankruptcy Law Seminar 2010

Posted on February 02, 2010
  THIRTY-SIXTH ANNUAL SEMINAR March 18-20, 2010   Early Registration Deadline: February 10, 2010 ONLY A FEW DAYS TO SAVE $70! The InterContinental Buckhead Hotel ATLANTA, GEORGIA    ATTENTION GEORGIA LAWYERS! Are you short of hours in 2009? The SBLI this year is prior to the March 31 deadline to complete your 2009 CLE without penalty...

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