Tag: bank accounts

Bankruptcy conversion can lead to losing an asset for bad faith

Converting a Bankruptcy and Bad Faith

Posted by Hale Andrew Antico on

Converting a Bankruptcy and Bad Faith

Bankruptcy Conversion to Chapter 7 Could Risk a Postpetition Asset if Debtor Acted in Bad Faith

Summary

In Pancic v Lokan (In re Lokan), BAP No. OR-22-1249-CLB, Bk. No. 6:20-bk-62593-TMR (9th Cir. BAP 6/14/2023)(unpublished opinion), the Bankruptcy Appellate Panel for the Ninth Circuit (“BAP”) held that the chapter 13 debtors converted their case to Chapter 7 in good faith and therefore a post-petition inheritance was not property of the chapter 7 estate.

Facts

Stephen and Brenda Lokan filed a Chapter 13 bankruptcy in Oregon on November 23, 2020 with unsecured claims of approximately $100,000.  Their plan was confirmed with plan payments of $150 per month giving unsecured creditors about 10% of their claims.

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Chicago v Fulton automatic stay and turnover cases are not just about cars

After Chicago v Fulton: Not Only Cars

Posted by Hale Andrew Antico on

After Chicago v Fulton: Not Only Cars

A Survey of Fulton Rulings and a Weakened Automatic Stay

Intro: What is a Fulton ruling?

When Chicago v Fulton (In re Fulton), 141 S Ct. 585 (Sup Ct, 2021) was first decided by the Supreme Court, there was a consensus among bankruptcy attorneys that the erosion of the automatic stay with regard to turnover was only about cars. That is, Fulton was a narrow ruling that was only about impounded vehicles seized prepetition, and wouldn’t really impact or weaken the automatic stay otherwise. Two years on, that turns out not to be the case.

June 2023 Update: the following list has been updated to include cases citing Fulton and the automatic stay through the midpoint of 2023.

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bankruptcy dos and don'ts

12 Crucial Tips Before Filing Bankruptcy

Posted by Hale Andrew Antico on

12 Crucial Tips to Do (and Avoid) Before Filing Bankruptcy

Los Angeles Bankruptcy lawyer explains what to do and don’t before seeking a fresh start

If you’re thinking about filing bankruptcy, what you do you beforehand has more of a bearing on the success of your case than how well the papers are completed. As a longtime Los Angeles bankruptcy attorney, I must make the best of the circumstances that are presented to me. Sometimes these situations are, shall we say, less than ideal.

What follows, in no particular order, are just some of the things I wish the people I meet with had done, or avoided doing, before we met for the consultation.

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