December, 2013

Protect Your Tax Refunds When You File Bankruptcy!

On the eve of new year’s, I thought it’d be a good idea to discuss an issue that arises with every new year. 2013 is closing which means tax season is approaching.  Now if you are set to receive a tax refund from the IRS or the Franchise Tax Board, make sure you understand the right to that money is an asset in your bankruptcy case. I’ll say it again – that money is an...

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Do Single Asset Real Estate Chapter 11 Bankruptcies Really Work?

What is a Chapter 11 Single Asset Real Estate Bankruptcy Case?  Well, first, these are commonly referred to as “SARE” cases. A SARE case is one where there is a single piece of property or project, other than residential real property with fewer than 4 residential units, which generates substantially all of the gross income of the debtor.  See 101(51B) of the US Bankruptcy Code.  ...

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