Today, we’ll explore something new here on Bankruptcy Law Network: bankruptcy in Canada. Anyone working in consumer bankruptcy these days knows our Bankruptcy Code is in a less-than-ideal condition. U.S. bankruptcy law was “reformed” in 2005 with the enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act (“BAPCPA”). Our neighbors to the north also [...]
Russell A. DeMott, Charleston Bankruptcy Lawyer
Bankruptcy is in the Bible. In fact, there are plenty of blog posts here on Bankruptcy Law Network about what the Bible says about debt. Kurt O’Keefe’s “Is Filing Bankruptcy a Sin?” is just one of many posts. Most of these posts discuss the Bible and the morality of bankruptcy or apply particular Biblical principles [...]
Filing bankruptcy if you have an interest in a corporation or a limited liability company requires some extra work for you and your bankruptcy lawyer. Preparing an accurate balance sheet listing the company’s assets and debts is a critically important part of this process. As we’ve written before, just because you file bankruptcy doesn’t mean [...]
Filing bankruptcy cases means–very soon after the case has been filed–dealing with bankruptcy trustees. I’ve practiced bankruptcy law for fifteen years now, and one thing I’ve learned about bankruptcy trustees is that they are all different. No two ask for exactly the same documents. And no two want things done exactly the same way. They [...]
If you’re running a business, filing bankruptcy involves preparing a profit and loss statement. While this subject isn’t terribly interesting or sexy, it’s critically important to preparing accurate information for your bankruptcy lawyer. What’s a Profit & Loss Statement? Relax! This isn’t algebra or calculus. This is simply a statement showing income in and expenses [...]
