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Proper Termination of an Option to Repurchase Under the Bankruptcy Code

ABI

John’s University School of Law American Bankruptcy Institute Law Review Staff In In re Pazzo Pazzo Inc. , 1] Facing financial distress, Berley, filed a petition for relief under Chapter 11 of the Bankruptcy Code. [2] In their bankruptcy schedules, the Debtors listed the lease and the option to repurchase the Property as assets.

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Debtor Allowed to Make Voluntary Contributions to Retirement Fund While Repaying Creditors

ABI

American Bankruptcy Institute Law Review Staff. . In In re Marlena Joy Pizzo , the United States Bankruptcy Court for the District of South Carolina held that a debtor may voluntarily contribute to her retirement plan while paying creditors under a bankruptcy plan. [1] 12]. .

Debtor 40
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The Rights of a Prepetition Lien Holder Against Postpetition Proceeds from a Sale of Real Property

ABI

John’s University School of Law American Bankruptcy Institute Law Review Staff An unpaid secured lender with a prepetition mortgage does not have a right to receive payment of proceeds from a postpetition sale of real property. In 2017, Allegiance Bank loaned Burts Construction, Inc. the “Debtor”) $1.5

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US Trustee Fee Increase that is not Applicable Uniformly Violates the US Constitution

ABI

John's University School of Law American Bankruptcy Institute Law Review Staff Article I, Section 8, Clause 4, of the United States Constitution contains the “Bankruptcy Clause,” which vests Congress with the power to establish “uniform Laws on the subject of Bankruptcies throughout the United States.” [1] 11] In Siegel v.

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Amended Proofs of Claim are not Always Allowed

ABI

John’s University School of Law American Bankruptcy Institute Law Review Staff In In re Maxus Energy Corporation , the United States Bankruptcy Court for the District of Delaware held that PSE&G could not file an amended proof of claim years after the bar date had passed on its timely-filed proof of claim. [1]

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Collection Agencies in Puerto Rico

Nexa Collect

The FCRA-mandated credit reporting period is the same in Puerto Rico: 7 years for debt, and 10 years for bankruptcies, but note that Puerto Rico has its own statute of limitations for filing lawsuits to collect debts: 15 years. 981p (12)). All that being said, in Puerto Rico interest is allowed on money judgments, at a rate of 6%.

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The Final Say: Conversion from Chapter 11 to Chapter 7 is Not a Given

PBWT

It is well-settled that if you are a debtor in chapter 11, you do not have the unfettered right to convert the case to a chapter 7 liquidation. The debtor had married into a family that owned real estate assets in New Mexico, Colorado and Arizona and lived off income from two spendthrift trusts formed by his late wife. ” Id.