BANKRUPTCY

Adversary Proceedings

A common misconception is that all debts are forgiven in bankruptcy. The truth is that there are certain types of debts that are not dischargeable. In addition, certain actions of a debtor such as, an attempt to defraud creditors, may be reason for a bankruptcy court to refuse to discharge a debt. Serious problems can also arise where a debtor fraudulently or preferentially transfers assets immediately prior to filing bankruptcy. Our attorneys have been successful in pursuing and defending an array of claims such as these.

Judgment Enforcements

A question that often arises in bankruptcy proceedings is how the bankruptcy will effect other ongoing litigation or prior judgments obtained against the debtor. While other litigation is usually halted once a bankruptcy is filed, there are certain ways to preserve and fully enforce prior judgments obtained against a debtor. Whether you are a debtor or major creditor, it is important to consult with counsel to understand what effect a bankruptcy filing may have on a judgment obtained or entered against you. Our attorneys can help guide you through this process.

Representative Cases

Munao v. Munao (In re Munao)
Case No. 10-bk-42568, 11-ap-00311 – U.S. Bankruptcy Court for the Northern District of Illinois
Represented judgment creditor in adversary proceeding seeking non-dischargeability based on Debtor’s fraudulent transfer of successful automotive business to his mother immediately before filing for bankruptcy.

Paloian v. Loumbardias (In re Lakeshore Motorcars, Inc.)
Case No. 11-bk-25861, 11-ap-02263 – U.S. Bankruptcy Court for the Northern District of Illinois
Defended individual shareholders in “clawback” action sought by corporate bankruptcy trustee for dividends paid to shareholders prior to insolvency.

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