Even though the original question was how often you can file Chapter 7 in Florida we will also look at Bankruptcy proceedings under Chapter 13 as well. If you have already filed for bankruptcy in the past and have received a discharge, the bankruptcy code specifies how long you need to wait between filings. If your previous bankruptcy case didn’t result in a discharge, you can file without attention to time limits.
In bankruptcy cases, what legal matters need to be handled by federal district judges as opposed to being overseen and decided upon by bankruptcy judges?
The U.S. Supreme Court is preparing to hear a case that will determine which matters in a bankruptcy litigation can be rightly handled by bankruptcy judges and which must be presided over by full-fledged district judges as a matter of constitutional law. Bankruptcy judges have the benefit of specialized training for their field, but they lack the constitutional standing that is afforded to U.S. district judges.
The company that contaminated drinking water for thousands of West Virginians with a chemical leak into the Elk River filed for Chapter 11 bankruptcy on January 10.
According to official bankruptcy documentation, Freedom currently owes $3.6 million to 20 of its top unsecured creditors. They also owe over $2.4 million in unpaid tax debt dating back more than a decade. The IRS has at least three liens on the company’s property and are demanding payment.
Atlantic City, New Jersey, once considered the Las Vegas of the East Coast has been hit hard in the past few years by a stagnate economy and lack of business to its dozen casinos. In the past six years, half of those casinos have filed for bankruptcy. The latest filing was made in November, 2013 by the once iconic Atlantic Club Casino (formerly the Atlantic City Hilton). The casino filed for Chapter 11 bankruptcy protection on November 6 and a spokesperson for the company stated at that time that the casino will remain open and operate on its regular schedule while they seek a buyer for the property. For right now, any internal problems are still transparent to visitors.
United States Enrichment Corporation (USEC), based in Bethesda, Maryland is the only American company that deals in uranium enrichment. With that kind of power and responsibility, it is hard to believe that they would ever need to think about filing bankruptcy. In keeping with reports made late last year, however, the process has begun. The company is moving ahead with plans to seek bankruptcy protection in its efforts to continue operating.
The Clark vs. Rameker Bankruptcy case has the potential to define how inherited individual retirement accounts are handled in the debt fulfillment process in a bankruptcy for future cases. The case involves a small business owner, Heidi Heffron-Clark with her husband, Brandon Clark. Heffron-Clark’s mother left her a $300,000 IRA account that creditors in their pizza shop’s bankruptcy case are looking to acquire to settle part of the debt. The lower courts have split on their rulings in this case, so the highest court in the nation now has the task of not only deciding on the case but also setting the precedent for other cases, impacting retirement as well as end of life planning for those facing similar circumstances.
Circumstances can change in an instant, even for a company with strong backing and a good product. Fisker Automotive is a prime example. The company filed last week for bankruptcy after receiving a commitment for a $529 million loan from the United States Department of Energy. The DOE suspended funding in 2011 after Fisker failed to satisfy a number of milestones in the sale of their luxury vehicle, Karma. At the point when funds were suspended, Fisker had already received a disbursement of $192 million. The DOE managed to recover only $28 million of the loan from Fisker. It sold the remainder to Hybrid Technology, LLC for $25 million.
A battle is raging in U.S. Bankruptcy court to attempt to dismiss an involuntary bankruptcy claim that is being filed against CSN Houston by NBC Universal on behalf of NBC/Comcast. This may not seem like a significant move to most of the country, but rest assured that people in the Houston area are paying very close attention to these proceedings and awaiting a ruling from Judge Marvin Isgur.
Approximately 1.1 million individuals filed bankruptcy petitions in 2012. The primary cause for filing revolved around consumer debt. Median average monthly income among filers nationwide was $2,743 and median average monthly expenses was $2,769. Most of those filings were made under Chapter 7. For many of those who filed in 2012, it was not the first time they did so.
ECOtality, a green energy company backed in part by taxpayer funds, filed for Chapter 11 bankruptcy protection on September 16, 2013. The filing follows a tumultuous period for the company that, in the weeks leading up to the filing, saw mass layoffs and a halt on fulfilling orders for their charging stations for electric vehicles. They had been awarded $115 million by the United States Department of Energy (DOE) in stumulus funds to advance their work and produce the charging stations. Those payments were suspended in August after disbursements totaling over $96 million had already been paid.