Author: timothymccandless
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Calculating the Preference Period:
Effective Date of the Trasfer and the Inapplicability of Federal Rule of Bankruptcy Procedure 9006(a) to the Trustee’s Avoidance Powers By Richard Ruszat A threshold issue to preference litigation is the determination of whether a transfer occurred within the applicable preference period. The Bankruptcy Code empowers a trustee to avoid any transfer in interest made…
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Workout Experts for Financially Distressed Companies The The McCandless Law Firm
Workout Experts for Financially Distressed Companies The The McCandless Law Firm is among Northern California’s most experienced workout specialists for creditors, boards, investors and executive management of financially distressed companies. Workouts include managed, out-of-court business terminations as well as an Assignment for Benefit of Creditors (“ABC”), a recognized liquidation path governed by state instead of…
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Why Does a Chapter 11 Cost So Much?
by Brett Weiss, Maryland Bankruptcy Attorney · Posted in Uncategorized Costs Of Chapter 11 Bankruptcy inShare When I give lectures on individual and small business Chapter 11 cases, I always advise new Chapter 11 attorneys to buy a thick towel for their desk. After I get a confused look from the audience, I explain: “It’s…
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How and When to Reopen a Bankruptcy Case
Sometimes people want to reopen a closed bankruptcy case because they failed to invoke important procedures while their bankruptcy case was open. Fortunately it’s usually possible to reopen the bankruptcy and play catch-up. Common reasons for wanting to reopen a bankruptcy case include: failing to timely file an Official Form 23 (pre-discharge counseling certification) failing…
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Chapter 11 Bankruptcy basic
Chapter 11 bankruptcy is a reorganization procedure used by businesses, including sole proprietors, partnerships, and corporations. The debtor in chapter 11 files a petition which includes a list of assets and liabilities, and a detailed statement of financial affairs. The debtor will typically act as his own trustee, called a “debtor in possession”,…
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Loan Workouts, Modifications, Debt Restructuring
Why You Need Us and What We Will Do For You. There are several reasons why it makes sense to hire an experienced loan workout specialist attorney firm such as the Birch Law Group when problems occur. Firstly, by virtue of our 29-year history as an active and well-respected player in the commercial mortgage finance…
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Commercial Real Estate Loan Workouts that Prevent Foreclosure
Whether your lender is a local bank or a securitized CMBS lender, when loan workout discussions break down, the parties often find the property proceeding down the costly and painful path to foreclosure. Our goal is to avoid foreclosure at all costs. The unfortunate reality of a foreclosure sale is that the borrower rarely receives…
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Illegal Foreclosures
OCC Findings: Illegal Foreclosures, Critical Deficiencies posted by Alan White At today’s Senate Banking Committee hearing on Dodd-Frank implementation, Comptroller John Walsh’s testimony gave a preview of some findings from the federal agencies’ investigation of mortgage servicing and the robosigning scandal: “In general, the examinations found critical deficiencies and shortcomings in foreclosure governance processes, foreclosure…
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The Homeowners struggle
Warren op-ed: Banking on Hypocrisy posted by Katie Porter Check out Credit Slips co-blogger Elizabeth Warren’s op-ed on Politico, entitled Banking on Hypocrisy. She quotes extensively from a letter that the American Bankers Association sent to banking regulators in 2006 in opposition to the proposed intra-agency guidance that would have required better underwriting of nontraditional…
abc Assignment for benefit of creditors 