In re Zafar David Khan Facts: Debtors and Barton, who founded RPost International, Ltd (“RIL”), received an initial distribution of RIL stock in consideration of “unreimbursed expenses and compensation” in 2001. After suffering a stroke, Barton took a leave of absence from RIL. In 2007, the D...
In re Thompson, 116 B.R. 610 (S.D. Ohio 1990) In Thompson, the debtor breached a lease agreement with One Columbus by defaulting on payments without ever having taken possession of the premises. The State Court entered a default judgment against the debtor in the amount of $113k. The debtor fil...
When filing bankruptcy in California, you have a choice of claiming either the Homestead Exemptions or the Wild-Card Exemptions, under California Code of Civil Procedure 704 and 703, respectively. A debtor wishing to protect their real estate in a bankruptcy proceeding will want to claim the ...
This issue came up in Hoover-Reynolds where the petitioner signed a retainer agreement in January of 1995 to retain the services of legal counsel. A provision in the retainer agreement, according to petitioners attorneys, provided for a “charging lien” against any money awarded in the dissolutio...
Successive Bankruptcy Filings The rules regarding successive bankruptcy filings is actually quite simple. Chapter 7 –gt; Chapter 7 If you have filed a Chapter 7 case in which you received a discharge, you cannot file another Chapter 7 case until 8 years have passed since the date that you fil...
Lien-stripping is the process of bifurcating (splitting) a secured claim into two separate claims, the secured portion and the unsecured portion. For instance, you have a home that is worth $500,000 and you have a first mortgage balance of $300,000 and a second mortgage balance of $300,000. Since...
Bankruptcy Law as a whole is a combination of the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, the Federal Rules of Civil Procedure, State Law, Federal Law, and Case Law developed in the courts. The explanations below are just a brief overview; every chapter of the Bankruptcy Code...
Our firm has extensive experience and expertise in bankruptcy, having two Certified Bankruptcy Law Specialists, and we can assist most individuals, married couples and businesses with their financial problems through Chapters 7 and 13.
Richard and his team were extremely helpful throughout the BK process. Richard Heston answered all of my many questions and was generous with his time. His staff is well organized, which made a difficult process relatively simple. My bankruptcy was due to a business failure. Heston & Heston helped me understand the personal and business issues both pre and post bankruptcy.