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Filing Chapter Louis E Lee Madere Jr Attorney and Counselor at Law August The following is an outline of select areas of bankruptcy law which are significant as you contemplate a filing under Chapter It gives an overview of the procedures involved with a Chapter and the rights creditors or the trustee can assert Please NO telephone calls and NO E MAIL unless you live in the New Orleans Area and wish to hire me as your attorney to file your bankruptcy I am not allowed to answer questions from outside Louisiana I practice only in Louisiana DO NOT try to file bankruptcy without counsel; hire an attorney And check for updates or changes made since the Fall of the last time this document was updated Lee Madere Often someone who considers bankruptcy is unaware of the nuances of bankruptcy or certain creditors' rights in bankruptcy You should be familiar with some of the applicable provisions as you prepare for filing What follows is not by any means an exhaustive review of bankruptcy law; nor does it fully explain each provision of the bankruptcy code or rules which might apply because each individual's situation is unique and sometimes unanticipated events
Featured Free Fall Radio Air America Goes Bankrupt Liberal network lists million in debts assets of million OCTOBER Air America Radio today filed for bankruptcy listing liabilities in excess of million and assets of only million The Chapter filing by Piquant LLC the radio network's parent company was made in U S District Court in Manhattan The list of Air America's creditors runs pages and includes on air personalities like and as well as law firms landlords limousine firms and a variety of other businesses The company's single largest creditor is founder of RealNetworks who is owed million according to the bankruptcy petition Below you will find an excerpt of the court filing showing all Air America debtors WOOHOO
Frequently Asked Questions About the Chapter Filing What does it mean to voluntarily file for Chapter ? A voluntary Chapter filing such as ours is an action taken by a U S company to resolve financial challenges such as lack of liquidity or excessive debt in order to maximize the value of the Estate for the benefit of all of it's creditors During the Chapter process a company is able to continue to conduct business while reorganizing its finances and operations in order to meet the claims of those to whom it owes money This is accomplished in part through a legal mechanism known as the automatic stay which stops creditors from taking action to collect monies or property they are owed A company in Chapter continues to provide employees with salaries and medical benefits It is also able to continue to do business with suppliers and customers in a routine manner A company exits Chapter when the court has approved a Chapter plan and the transactions and payments proposed in the plan are consummated The plan is usually developed by the company in conjunction with its creditors Is Enron going out of business? No The purpose of Chapter
Lawyer Directory Welcome to Chapter com The Bankruptcy Reform Bill approved amd adopted in made it easier for consumers to avoid bankruptcy At the time consumers were encouraged to file a Chapter bankruptcy before the new laws were adopted Consult an attorney before you make your decision it could save you time money and be better then the alternative chapter Usually the first visit is free just fil out the form below and we'll search our database of Lawyers near you to set up a consultation With the most recent changes in the bankruptcy law many consumers seeking a formerly referred to as a Chapter bankruptcy will have to file bankruptcy under consolidation The new reform rules require those seeking protection under attend a class and file separate documents to have their case reviewed and granted by the It may be a good idea to consult a bankruptcy attorney before filling out and attempting to file any bankruptcy forms on your own Bankruptcy information is easily acquired from many online resources to help you make good choices Bankruptcy reform law adds a new legal dynamic for the in any
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