When a person (the debtor) files for bankruptcy protection, one of the critical aspects to obtaining relief is the debtor's accurate disclosure of his or her finances. In order for a federal bankruptcy court to properly handle any case, whether it is a Chapter 7,...
Month: March 2014
New Mexico Supreme Court Applies Loan Protection Act to Nullify Foreclosure
Last month the New Mexico Supreme Court found that the Bank of New York could not foreclose on the home of a New Mexico resident who had refinanced his home by entering in to a promissory note with a different company. The Court specifically interpreted the New Mexico...
In Chapter 11 Bankruptcies How Administrative Expenses Aid Reorganization
Generally speaking creditors, whether classified as secured or unsecured creditors, in a Chapter 11 bankruptcy case, expect to be paid only a fraction of what they are owed by the debtor's estate. But some creditors who provide the company in bankruptcy those services...
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