The primary reasons most debtors file for Chapter 7 bankruptcy protection are to rid themselves of debts which hinder their ability to get back on their feet financially. But individuals considering whether to take such an avenue need to recognize that many types of...
Month: August 2014
Genome Sequencer Files for Chapter 7 Bankruptcy
PathoGenetix, a company working to identify pathogenic bacteria in food samples using its own patented genetic scanner, recently filed for Chapter 7 bankruptcy in the District of Massachusetts bankruptcy court.According to the company’s bankruptcy filings,...
Battle of Appraisers May Shape Key Decision in Bankruptcy Case
In a variety of bankruptcy settings, the value of certain property, particularly real estate, may dominate the outcome of the case. These valuation disputes occur in Chapter 7 liquidations, Chapter 13 bankruptcies and Chapter 11 corporate reorganizations. Frequently,...
Old Domestic Dispute Resumes in Bankruptcy Case
Approximately ten years after these New Mexico residents concluded their divorce, and years of intervening enforcement battles in a New Mexico District Court, two former spouses continued their fight in federal bankruptcy court after the ex-wife filed for bankruptcy...
Goldman Sachs Settles with Fannie Mae and Freddie Mac over Mortgages
In the wake of the Justice Department’s record-breaking settlement with Bank of America requiring the mammoth institution to pay a settlement of approximately $17 billion for fraud related to mortgage practices, now investment banking firm Goldman Sachs is...
The Reaffirmation of Debts in Bankruptcy Cases
When individuals decide to file a Chapter 7 bankruptcy action, they are generally commencing a process in which they will be liquidating most of their assets so that they can use the proceeds derived from that liquidation to achieve two goals; (1) pay off creditors to...
Imputing Fraud to a Spouse in a Bankruptcy Case
A dispute which began over the manner in which a Tennessee horse farm owner charged his clients who kept their horses at his farm eventually became an argument over whether that owner's wife should bear some of the financial consequences of what appeared to be...
Statute of Limitations Bars Suit Against Home Lender Which Foreclosed
In a recent case against their former real estate lender, two New Mexico residents failed in District Court to successfully bring claims against that lender because they waited too long to file their case. These homeowners alleged that, in March 2007 when they signed...
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