The bankruptcy code requires that a Trustee appointed by the US Trustee's office conduct a meeting of creditors. In a simple Chapter 7 or Chapter 13 meeting of creditors, typically no creditors appear. Business bankruptcies are more likely to have creditors appear. At...
Month: January 2017
American Apparel Bankruptcy
http://www.reuters.com/article/us-americanapparel-layoffs-idUSKBN15025M American Apparel Layoffs Employees in Bankruptcy ProceedingsBy Jessica DiNapoli and Lisa RichwineCanadian apparel maker, Gildan Activewear Inc (GIL.TO), has withdrawn its plan...
Chapter 13 Bankruptcy Codebtor Stay
Section 1301 of the Bankruptcy Code is entitled "Stay of Action Against Codebtor". If an individual files a bankruptcy while living in, say, Pennsauken, NJ and his ex-wife, living in Philadelphia, PA had cosigned for a credit card while they were married, can the...