Molleur Law Blog

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Chapter 11 for Small Businesses

Posted on 11/27/2006 at 05:49 pm | Viewed 1,395 times

Bankruptcy Article #25

James Molleur
November, 2006

The purpose of this Article is to provide a basic understanding of Small Business Chapter 11 bankruptcy cases.

As with any other bankruptcy topic, the specific requirements for any particular business going through Chapter 11 can vary, but there

Small Business Chapter 11

Posted on 11/25/2006 at 12:00 am | Viewed 603 times

Our economy is not running smoothly for everyone. While some individuals and businesses are flourishing under current business conditions, others are not. In particular, small businesses which depend upon local government contracts, or upon tourists, weather conditions (landscaping, snowplowing), or low fuel costs

Dischargeability of Taxes

Posted on 11/05/2006 at 05:23 pm | Viewed 1,545 times

Bankruptcy Article #7

In a Chapter 7 case, Section 523 of the Code determines which tax debts are non-dischargeable. Included are:

  1. Taxes entitled to priority under Section 507(a). See Section 523 (a) (1) (A).
  2. A tax due upon filing a return, but the return is not filed. Section 523(a) (1) (B)

Bankruptcy Reform - 1 Year Later

Posted on 11/04/2006 at 12:00 am | Viewed 339 times

A recent analysis of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) by Gayle Ronan on MSNBC concluded that the jury is still out on the effectiveness of the new law. The average number of bankruptcy filings in the United States in the past few years has been about 1,500,000, but the number filing filing

Market Bets on Loan Defaults

Posted on 10/30/2006 at 12:00 am | Viewed 381 times

The Wall Street Journal recently reported that the subprime loan markets are counting upon significant defaults in order to profit from the loan insurance placed upon each mortgage loan. One of the benefits of our new market driven mortgage loan environment is that more individuals are becoming homeowners than ever before in

Maine State Bar Association Bankruptcy Conference

Posted on 10/13/2006 at 12:00 am | Viewed 344 times

James Molleur co-chaired a 2 day Maine State Bar Association Bankruptcy Conference in South Portland, Maine on October 5th and 6th, 2006. The Conference was an ambitious effort to present speakers and information to bankruptcy attorneys and other professionals on bankruptcy after the passage of BAPCPA, the Bankruptcy Abuse

Accuracy of Property Valuation

Posted on 10/11/2006 at 12:00 am | Viewed 516 times

Bankruptcy Article #20

Hannigan v. White, 1st Circuit Court of Appeals
Decided on June 2, 2005

The First Circuit held that the bankruptcy court was entitled to determine that a debtor, who intentional undervalued his property, could not later amend his

Process of a Chapter 13 Bankruptcy Case

Posted on 09/19/2006 at 05:45 pm | Viewed 1,533 times

Bankruptcy Article #23

James Molleur
September, 2006

This article will explain, in general, the process of a Chapter 13 case in the State of Maine. There are several steps that every Chapter 13 case follows:

  • The creation of the Chapter 13 plan
  • The trustee

Winners and Losers under BAPCPA

Posted on 09/14/2006 at 07:30 pm | Viewed 2,931 times

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 altered the relationship of debtors and creditors, and even altered the relationships between creditors.

Debtors are generally losers under this major revision of the Bankruptcy Code (initially adopted in 1978, and only minimally changed over the past 27 years, until

First Circuit Rules against GMAC

Posted on 09/09/2006 at 12:00 am | Viewed 387 times

On September 1, 2006, the First Circuit Court of Appeals reversed the Maine Bankruptcy Court decision in Pratt v. GMAC. This is one of the most significant decisions in consumer bankruptcy in recent years, and represents a recognition by the First Circuit that creditors have been engaging in inappropriate behavior in attempting to collect

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