Debtors must report assets, liabilities, contested claims, and other business affairs. The purpose of these disclosures is to allow creditors an opportunity to evaluate proposed plans. Disclosure statements must contain “adequate information.” The specific information required is determined on a…
A Chapter 13 bankruptcy filing may be converted into a Chapter 7 bankruptcy filing. One common reason for converting from Chapter 13 to Chapter 7 is a petitioner’s inability to stay current in the Chapter 13 repayment plan. A petitioner…
Problems may result from the conflict of interests between domestic relations courts and bankruptcy courts when a couple files for bankruptcy during a divorce. The conflict arises because of the differing policies between the courts. Bankruptcy courts have a policy…
Bankruptcy crimes exist to protect the goals of civil bankruptcy, which is a fresh start for consumers, the reorganization of businesses, and the equitable distribution of a debtor’s assets amongst creditors. Almost every bankruptcy crime is preceded by a prior…
Knowledgeable financial legal counsel for lenders and borrowers
As counsel for some of the Midwest’s largest banks and institutional lenders, Burt, Blee, Dixon, Sutton & Bloom, LLP has a wealth of experience in all key aspects of financing and banking issues.
