Chapter 7 Official Bankruptcy Forms Revised To Reflect April 1, 2025 Dollar Amount Adjustments Now In Effect

Bob Eisenbach — Tue, 01 Apr 2025 15:00:00 +0000

As discussed in an earlier post called “Jumping Up: Bankruptcy Code Dollar Amounts Will Increase On April 1, 2025,” various dollar amounts in the Bankruptcy Code and related statutory provisions were increased for cases filed on or after today, April 1, 2025. This chart has a list of all of the dollar amount changes now in effect. The official bankruptcy forms have also been revised to…

Source

Amendments To The Federal Rules Of Bankruptcy Procedure Take Effect December 1, 2017

Bob Eisenbach — Tue, 14 Nov 2017 16:22:18 +0000

Just about every year amendments are made to the rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The amendments address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. As the photo above reminds us, the rule amendments are ultimately adopted by the U.S. Supreme Court (and technically subject to…

Source

The Venture-Backed Company Running Out Of Cash: Fiduciary Duties And Wind Down Options

Bob Eisenbach — Tue, 16 Feb 2016 16:37:42 +0000

Many start-up companies backed by venture capital financing, especially those still in the development phase or which otherwise are not cash flow breakeven, at some point may face the prospect of running out of cash. Although many will timely close another round of financing, others may not. This post focuses on options available to companies when investors have decided not to fund and the company…

Source

Major Overhaul Of Federal Bankruptcy Forms, Plus An Accompanying Rule Amendment, To Take Effect December 1, 2015

Bob Eisenbach — Tue, 17 Nov 2015 15:43:35 +0000

Almost every year, changes are made to the set of rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The changes address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. Often there are revisions to the official bankruptcy forms as well. One Little Rule Amendment? This year’s amendments impact…

Source

Amendments To The Federal Rules Of Bankruptcy Procedure, Including One Shortening The Time For Serving A Summons, Take Effect December 1, 2014

Bob Eisenbach — Mon, 01 Dec 2014 15:01:43 +0000

Almost every year, changes are made to the set of rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The changes address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. Rule Amendments. This year the rule amendments, which go into effect on December 1, 2014, mainly address bankruptcy appeals…

Source

Why Creditors Can’t Afford To Ignore Objections To Bankruptcy Claims

Bob Eisenbach — Tue, 01 Jul 2014 15:03:47 +0000

It’s been several years since I last posted about objections to bankruptcy claims, and the topic is so important to creditors that it’s time to revisit it. File And Forget? When a customer or other party with which you do business files bankruptcy, it’s important to file a proof of claim on time by the deadline (also known as a “bar date”) set in the case. Once you do, however…

Source

What The U.S. Supreme Court’s Unamimous Decision In A Homestead Exemption Case Says About The Power Of Bankruptcy Courts In Business Cases

Bob Eisenbach — Wed, 05 Mar 2014 15:48:52 +0000

It seems that most bankruptcy decisions by the U.S. Supreme Court involve individual debtors, and the Supreme Court’s latest opinion is no exception. Even though the decision is not in a business bankruptcy case, it examines the bankruptcy court’s powers under Section 105(a) of the Bankruptcy Code. Section 105(a) is commonly invoked in business bankruptcy cases to prevent business…

Source

The Privilege Is All Mine: What Happens To A Corporation’s Attorney-Client Privilege In Bankruptcy?

Bob Eisenbach — Mon, 29 Jul 2013 11:25:03 +0000

It’s well-established that a corporation has an attorney-client privilege and can assert it to keep communications between the corporation and its attorneys confidential. When a corporation is solvent, its officers and directors maintain the right to assert — or waive — the attorney-client privilege on behalf of the corporation, and control who has access to privileged communications.

Source

Forced Into Bankruptcy: The Involuntary Bankruptcy Process

Bob Eisenbach — Thu, 24 May 2012 11:06:27 +0000

When a company is facing financial distress, the question often comes up whether creditors can "force" the company into bankruptcy. Although the answer is more complicated than it may seem, this post aims to sort out what being "forced into bankruptcy" really means (hint: there are two different ways this can happen) and why it matters to companies and creditors. Forced But Voluntary Bankruptcy.

Source

Bankruptcy Judge’s Free Online Research Binder Now Updated

Bob Eisenbach — Tue, 21 Jun 2011 14:42:55 +0000

I have posted in the past about the helpful research binder that former Judge Randall J. Newsome of the United States Bankruptcy Court for the Northern District of California had made available on the Bankruptcy Court’s website. Although Judge Newsome has retired from the bench, fortunately Judge Charles Novack, also of the U.S. Bankruptcy Court for the Northern District of California…

Source