New Jersey Court Holds Specific Performance Can Leave Contracts Non-Executory

Admin on July 16, 2021 Posted in Blog

A New Jersey Bankruptcy Court recently rejected a motion to deny a written agreement  in accordance with Bankruptcy Code section 365. The court held that a court’s request of specific performance made under a contract was non-executory and non-rejectable. The following examines the potential repercussions of this case, the role of section 365, and what […]

Taking Steps to Combat Elder Bankruptcy

Admin on September 16, 2019 Posted in Blog

The number of elderly individuals in the United States who have proceeded through the bankruptcy process has increased substantially over the last few years. Statistics reveal that in 1991, elderly individuals comprised 2% of individuals who filed for bankruptcy. This group, however, now comprises approximately 12% of people who pursue bankruptcy. This increase will result […]

Debi Thomas

Admin on October 23, 2018 Posted in Blog, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy

San Jose native Debi Thomas has an impressive resume. She was a pre-med and engineering student at Stanford University; she is a graduate of Northwestern Medical School; she was a trained orthopedic surgeon; she was an Olympic champion and bronze medal winner at the 1988 Winter Games in Calgary; she became the first African-American woman […]

Downward Trend in Bankruptcy Filings

Admin on December 16, 2017 Posted in Bankruptcy News, Blog

Government statistics regarding bankruptcy filings demonstrate an interesting trend. The trend shows a four-year downward direction and an overall downward trajectory. This table represents filings between 2014 and 2017: Year Total Bankruptcy Filings Business Bankruptcy Filings Consumer (Personal) Bankruptcy Filings 2017 796,037 23,443 772,594 2016 819,159 25,227 793,932 2015 879,736 25,046 854,690 2014 1,000,083 30,113 […]

Divorce and Bankruptcy

Admin on October 26, 2017 Posted in Blog, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy

Financial stress can take a toll on relationships. Those in the Bay area may remember a time when, typically, the husband worked a 9-5 job while the wife stayed at home and took care of the children and the house. They would go on family outings on weekends year round. Women who worked often provided […]

341(a) Meeting

Admin on April 13, 2017 Posted in Bankruptcy Law, Blog

One feature of the Bankruptcy Abuse Prevention Creditor Protection Act, or BAPCPA, was the creation of the 341(a) meeting of the creditors. The purpose of this meeting is to allow the trustee to verify the accuracy of the bankruptcy petition and to give the creditors a forum to discuss the petition and ask questions. Every […]

Should You File A Joint Petition for Bankruptcy?

Admin on February 24, 2016 Posted in Blog, General Bankruptcy

While bankruptcy is typically thought of as something for individuals or businesses, in some cases bankruptcy is right for married couples. To qualify for a joint bankruptcy petition, a couple must be legally married. Cohabitation alone is not enough to qualify. A married couple may seek joint bankruptcy under either Chapter 7 or Chapter 13. […]