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The Bankruptcy Judge rejected these arguments. Marrama appealed to the Bankruptcy Appellate Panel for the First Circuit, which affirmed the lower court's ruling. [3] On appeal from the panel, the full First Circuit Court of Appeals affirmed, rejecting the argument that §706(a) gives a Chapter 7 debtor an absolute right to convert to Chapter 13 ...
Even in cases where there is no presumption of abuse, it is still possible for a Chapter 7 case to be dismissed or converted. If the debtor's "current monthly income" is below the median income, as discussed above, only the court or the United States trustee (or bankruptcy administrator) can seek dismissal or conversion of the debtor's case. If ...
If the results of the means test show no disposable income (or in some cases a very small amount) then the individual qualifies for Chapter 7 relief. An individual who fails the means test will have their Chapter 7 case dismissed, or may have to convert the case to a Chapter 13 bankruptcy.
A judge said Wednesday he was leaning toward throwing out Rudy Giuliani 's bankruptcy case after lawyers for the cash-strapped former New York City mayor and his biggest creditors — two ex ...
Pella developers Jeffrey and Tina Ewing filed for bankruptcy, but did not provide needed financial documents, so a judge dismissed their case.
A judge formally closed Rudy Giuliani’s defunct bankruptcy on Friday after he and his creditors resolved a standoff on how to pay out administrative expenses. The official order unfreezes two ...
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
IRAs fulfill both of the Bankruptcy code's Section 522(d)(10)(E) requirements that (1) the right to receive payment must be from a stock bonus, pension, profit-sharing, annuity, or similar plan or contract and (2) the right to receive payment must be on account of illness, disability, death, age, or length of service.