Southern California Bankruptcy Law Blog

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Discharging Income Taxes In Bankruptcy After A Substitute For Return Is Filed: Part II

Posted in Chapter 11 for Individuals & Married Couples, Chapter 13, Chapter 7, Uncategorized

Some time ago I wrote about discharging income taxes in bankruptcy.  I subsequently wrote about discharging income taxes in bankruptcy for a tax year in which the debtor filed a return after the taxing authority ― for simplicity I will generically label the authority as the IRS, though the discussion applies to other taxing authorities… Continue Reading

Nicholas Gebelt is speaking on Bankruptcy Litigation: Preferences, Fraudulent Transfers, and Appellate Procedures & Strategies

Posted in Uncategorized

I will be covering the topics of :  1) Preferential Transfers: Preference Actions and Substantive Defenses, 2) Fraudulent Transfers: Actual Intent and Affirmative Defenses, and 3) Appellate Procedure and Strategies: Appeals from Final Orders and Interlocutory Appeals.  I will present this talk at the National Business Institute’s “Bankruptcy Litigation 101” seminar in Orange, CA on May 8,… Continue Reading

The Treatment Of A Second Mortgage After A Foreclosure Sale

Posted in Foreclosure, Short Sales, Uncategorized

I recently had an interesting email exchange with a couple of fellow bankruptcy attorneys on the subject of foreclosure.  The specific question we discussed was whether a second mortgage holder’s claim is extinguished after the holder of the first mortgage conducts a foreclosure sale. The question is complicated by the fact that there are three… Continue Reading

Low-Cost Bankruptcy Can Be An Expensive Mistake

Posted in Chapter 11, Chapter 13, Chapter 7, Uncategorized

Low cost bankruptcy is a slogan appearing in ads and billboards across Southern California.  Is low cost bankruptcy the best way to get relief from creditors?  This post answers this question in a way that might surprise you. In the Business Section of the October 1, 2011 Los Angeles Times, Jim Puzzanghera reported: In another sign… Continue Reading