Chapter 11 Bankruptcy
The Notice of Impending Foreclosure Sale in Maryland
The Notice of Impending Foreclosure Sale in Maryland is perhaps the most important document that you will get about foreclosure, and you should NOT ignore it. This document sets a date when your lender will auction off your house to the highest bidder. You must take action before the auction if you want to save your home.
Full StoryWhat Happens If You File Bankruptcy?
Many of our clients ask us what happens if you file bankruptcy? This is a very important question, and several significant Bankruptcy Code provisions are triggered when filing bankruptcy. Learn more about the automatic stay, bankruptcy estate and the bankruptcy trustee.
Full StoryThe 341 Meeting of Creditors
In every bankruptcy chapter, the person or authorized representative of a business must attend a 341 meeting of creditors that is required under 11 U.S.C. § 341(a). The 341 meeting is not a test. It is an opportunity for the case trustee to do their job and determine if there are any assets to distribute to creditors.
Full StoryTreatment of Unsecured Creditors In Chapter 11
An important benefit of a business filing for Chapter 11 bankruptcy is that the Bankruptcy Code pursuant to 11 U.S.C. §507 prioritizes debt into categories and at the bottom are general unsecured claims, which can be paid a small percentage of their claims.
Full StoryChapter 11 Plan Provision – Providing a Secured Creditor With Dirt-for-Debt
If the debt is secured by real estate, a “dirt-for-debt” solution may allow a debtor to confirm a Chapter 11 plan forcing a secured creditor to accept its real estate collateral as payment for its debt.
Full StoryChapter 11 Cramdown of Secured Debts
Chapter 11 can provide a lifeline to a debtor that cannot currently afford its secured claim payments as structured under the terms of the loan documents that govern the claim.
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