April 16, 2010

The Texas Rangers Potentially Face Bankruptcy?

A San Francisco Bankruptcy Attorney discusses the potential bankrutpcy of Major League Baseball's Texas Rangers.

According to a Bloomberg report, the Texas Rangers may be headed for bankruptcy as a result of stumbling blocks with their sale initiated by controller and billionaire Thomas Hicks, of Hicks Sports Group, LLC. It is said that either the sale’s terms need to be determined or another buyer found.

Monarch Alternative Capital, which is said to be captaining the group of creditors owed money by Hicks Sports Group, LLC may take action to block the sale due to a $525 million default in debt from last year. A move like this would potential force the team into bankruptcy.

Although the debt discussions are private, it is said that the group of creditors is seeking $30 million additional funds from the sale of the Texas Rangers.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

Posted by Scott Sagaria | | Email This Post | Comments (0)

Posted In: Bankruptcy Litigation , Chapter 11 Bankruptcy , Corporate Bankruptcies , Creditors and Debt

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April 15, 2010

Unscheduled Property Belongs to the Bankruptcy Estate

A San Francisco Bankruptcy Attorney discusses unscheduled property

Can you reopen a bankruptcy case 70 years after it was closed for purpose of administration? Yes you can. In re Dunning Brothers Co 2009 WL 2842734. It is well settled that unscheduled property of the debtor is still property of the estate. This estate was closed in 1936. Debtor failed to schedule 3 parcels of real property that railroad had easements and now which to acquire. Issues the Court was concerned with: does Bankruptcy Act still apply (yes it does), whether a post Northern Pipeline bankruptcy court exercise jurisdiction to reopen (it may), and whether the changes over the years “for cause” standard for reopening make any difference (they do not). Case reopened and administered.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

Posted by Scott Sagaria | | Email This Post | Comments (0)

Posted In: Bankruptcy Litigation

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January 8, 2010

Are Creditor Judgements Against Debtors Dischargeable in Bankruptcy

A San Francisco Bankruptcy Attorney explains creditor judgements as it pertains to bankruptcy filings...

As a San Francisco Bankruptcy Attorney, I know the reality is that creditors have been getting judgments against debtors who have not paid their debts off. For these debtors, one of the major questions is if that judgment is discharged in bankruptcy. A judgment lien is not automatically dischargeable. The creditor must obtain a judgment from the court. Then, to create a lien, it must be perfected under applicable non-bankruptcy law (usually the State or county in which the asset is located). For real estate, this usually involves obtaining a certified abstract of the judgment from the court that issued it, and recording it with the county recorder’s office wherever the property is located that the creditor wants the lien to attach.

If certain requirements are met, then the judgment lien can be discharged. The bankruptcy code section that states this is 11 U.S.C. 522(f), which allows a lien to be removed to the extent that it impairs an exemption to which the debtor would have been entitled in the absence of the lien. This is basically a mathematical calculation, and depends of course on the value of the asset, the amount of any senior liens, and the amount of the available exemptions (usually governed by the laws of the State where the bankruptcy case is filed, but not always.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

Posted by Scott Sagaria | | Email This Post | Comments (0)

Posted In: Bankruptcy Litigation , Chapter 11 Bankruptcy , Chapter 13 Bankruptcy , Chapter 7 Bankruptcy , Creditors and Debt

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