“Bankruptcy Preferences: Claims and Defenses (Part II)”
In my prior article I briefly reviewed the preference laws under the Bankruptcy Code, the elements that have to be proven and the rationale behind such statutes. To reiterate, a preference, by definition, is a payment or transfer that is made by the debtor to a...
“Bankruptcy Preferences: Claims and Defenses (Part I)”
Bankruptcy Preferences: Claims and Defenses (Part I) Quite often in a Chapter 7 bankruptcy case (often called a “straight” bankruptcy or a “liquidating” proceeding), or occasionally in a Chapter 11 or 13 proceeding, certain creditors may receive a demand letter...
“Three Things Not To Do Before Filing Bankruptcy”
THREE THINGS NOT TO DO BEFORE FILING BANKRUPTCY Many times when I first meet with clients about a potential bankruptcy filing, I learn about various property transfers made and transactions they have recently engaged in. While, in most cases, the transfers or...
“Bankruptcy Exemptions (Michigan) What Are They?
BANKRUPTCY EXEMPTIONS (MICHIGAN): WHAT ARE THEY? In my prior Blog, I briefly described what bankruptcy exemptions are, how they are claimed, and then went into detail on the numerous, available, “federal” exemptions. Since Michigan has not “opted out” of the...