Nick Jakich and Jay Dunlap owned a corporation the principal asset of which was a golf course. In October 2006 the corporation’s creditors filed a petition to have Golf declared bankrupt under Chapter 11 of the Bankruptcy Code. Dunlap testified in opposition to the petition, but the bankruptcy court granted it and appointed as trustee…Read more
5th Circuit Court of Appeals Bankruptcy Decision – Wells Fargo Bank, N.A. v. Stewart
1st Circuit Bankruptcy Appellate Panel Decision – Sharfarz v. Goguen
Goguen and Sharfarz entered into a construction contract, whereby Goguen agreed to build a residence for Sharfarz. The contract required Goguen to secure the necessary permits and complete the renovation by March 15, 2007; it also required Sharfarz to make seven progress payments totaling $171,286.00. As the construction stalled through October and November 2006, Goguen…Read more
Can I Discharge Debts I Promised to Pay in My Divorce?
If you are thinking about bankruptcy and have been through a divorce, one of the things we are going to ask you for is a copy of the divorce decree or separation agreement. We need to see if you have agreed to pay off any of your ex-spouse’s debts and whether you have to pay…Read more
Where Is Colorado’s Bankruptcy Court?
The permanent address for the U.S. Bankruptcy Court for the District of Colorado is 721 19th Street, Denver, CO 80202. The Bankruptcy Court is located in the U.S. Customs House, between California Street and Stout Street. Due to construction, as of May, 2011, Court hearings are being temporarily held in the Rogers Courthouse, located at…Read more
Should I File Bankruptcy Before I Get Married?
A young man came in for a consultation the other day. I asked him why he was thinking about bankruptcy. He told me that he had tried launching a business a few years earlier and had used credit cards that he had taken out in his name to pay for his living expenses while trying…Read more
Should I Use a Bankruptcy Kit to File My Bankruptcy?
I had to duck into an Office Depot the other day to get some rubber bands and binder clips. Walking down one of the aisles, I came across a display full of “legal kits”. Have you seen these things? They had kits to draft wills, form businesses, and get divorced. It just so happens that…Read more
8th Circuit Bankruptcy Appellate Panel Decision – Lovald v. Tennsyson
This is the second time this panel has had the opportunity to consider the issues involved in this appeal. Following remand for consideration of the effect of Bankruptcy Code Section 544(a)on the trustee’s motion to sell, the bankruptcy court entered judgment on April 29, 2011, denying the trustee’s request to sell jointly-owned real estate free…Read more
6th Circuit Court of Appeals Bankruptcy Decision – In re: Two Gales, Inc.
After the debtor’s chapter 11 case was converted to a case under chapter 7, the bankruptcy court entered orders granting fees to counsel for Susan Rhiel, the chapter 7 Trustee (the “Trustee”), denying the fees requested by Cupps & Garrison, LLC (“C&G”), debtor’s chapter 11 counsel, and requiring C&G to disgorge its pre-petition retainer so…Read more
Will Bankruptcy Help Me?
Bankruptcy should be your last resort. The bottom line is that if it doesn’t help you, you should avoid filing. If you are thinking about filing, ask yourself some questions: Will Bankruptcy Get Rid of My Debts? Bankruptcy, whether Chapter 7 or 13 doesn’t get rid of all debts. Alimony and child support are not…Read more
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