Category Archives: Bankruptcy Law

Can you buy a new or used vehicle while you are in a chapter 13 bankruptcy?

Yes! First of all, you can buy anything for cash, no permission is needed – but – you need written permission from the court to get a new loan or new credit while you are in a chapter 13 bankruptcy. The court wants to make sure you are not doing something that will jeopardize your ability to complete your chapter 13 Plan. 1. Find a dealer or car lot that is willing to sell you a vehicle and can get you financed. Before anything is finalized, I will need the details of the sale; the year, make, and model of the vehicle, the selling price, the amount of the monthly payment, the interest rate, and the total cost. You (or the dealership) can email or fax this information to me. Continue reading.. To continue reading this legal news please click Read full information...

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WATCH What You Ask For—Waiver of Personal Jurisdiction by Seeking Attorneys’ Fees

On Wednesday, December 13, 2017, Florida’s Third District Court of Appeal issued a decision that will have Florida attorneys carefully considering whether to seek attorney’s fees in conjunction with a motion to dismiss for lack of personal jurisdiction.  In TBI Caribbean Company LTD, etc., et al., v. Stafford-Smith, Inc., etc., the Third DCA determined that defendants/appellants waived their jurisdictional objection to personal jurisdiction by seeking attorney’s fees, while simultaneously (and inconsistently) seeking to also dismiss Plaintiff’s complaint.  The TBI case centers around TBI Caribbean Company LTD’s (“TBI Caribbean”) and Jesus Hinojosa’s (“Hinojosa”) appeal from the trial court’s non-final order denying their respective motions to dismiss Plaintiff’s complaint. The original dispute between the parties concerned a subcontract between Plaintiff and TBI Caribbean and Hinojosa’s….. To continue reading this legal news please click Read full information...

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News Headlines for Dec 15, 2017

Sears lands another deal with Amazon to sell car batteries, tires ,Retailers’ December imports to rise on last-minute restocking: NRF ,Hedge Fund and Rural Phone Company Face Off in Court Over Debt Drama – Bloomberg ,Marijuana Businesses Barred from the Bankruptcy Courts: But How Far Will the Bar Extend? | eSQUIRE Global Crossings ,Nasty Gal founder Sophia Amoruso just raised venture funding for her new company | TechCrunch.. To continue reading this legal news please click Read full information...

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Cobalt International Energy Files Chapter 11 Bankruptcy in Texas

On December 14, 2017, Cobalt International Energy, Inc. (the “Debtor”) and certain of its affiliates[1] (collectively, the “Debtors”) filed chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of Texas. According to the Declaration of David D. Powell, the Debtor’s Chief Financial Officer, the Debtors are independent exploration and production companies operating in the deepwater U.S. Gulf of Mexico and offshore Angola and Gabon in West Africa regions.  The Debtors cite a failed prepetition sale of its Angola assets and the low commodity prices and general market uncertainty as catalysts for filing bankruptcy. According to the Debtor’s bankruptcy petition, it anticipates that funds will be available for distribution to unsecured creditors.  The Debtor lists the number of creditors as between 100-200.  Per the Declaration of David. D. Powell, the Debtors have approximately $2.8 billion in total….. To continue reading this legal news please click Read full information...

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Tackling Your Debt During the Holiday Season

Has your debt landed you on the naughty list this year? It’s that time of year when Santa is making his annual inventory of all the good and bad Minnesotans. But Santa isn’t alone: many Minnesota families are also taking a good hard look at their finances and wondering how much crunch they will feel once their credit card statements come in January. According to a recent report, the average American family spent almost $1,000 on just gifts during the 2016 holiday season and the projected expense of the 2017 season is expected to be even higher. For Minnesota families that are already struggling financially, the added cost of the holidays can turn a bad situation into a dire one... To continue reading this legal news please click Read full information...

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