James Calvin Moon's Answers

If a condo project files bankruptcy before breaking ground, will I get my deposit back? what are the chances I will lose it?

You will need to file a proof of claim prior to the claims bar date. Generally speaking, claims are paid on a pro-rata basis depending on their priority. For example, administrative claims (professionals like lawyers and accountants who are representing the Debtor) are paid before general unsecured claims. Your claim is likely considered a general unsecured claim, but you should refer to the Debtor's schedules to see how your claim is addressed -- if at all. If you have any doubt (...

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A friend was arrested in New York for punching and breaking a guys nose who was attacking him in a friends apartment .

Some clarification is needed on your question. First, you state that the individual (we'll call him the "Creditor") filed a civil suit (I am presuming a tort claim) against your friend, but that the statute of limitations ran. However, you do not say whether or not the civil suit was dismissed voluntarily or was tossed out of court as a result of the statute of limitation or was, perhaps, stayed as a result of your friend's bankruptcy case. I assume the latter is not the case, because if...

The company that I worked for filed for Chapter 11 bankruptcy after I signed the severance agreement will I get any money

Attached is a paper on the subject that should give you some guidance. I have reviewed, and it is accurate generally. Obviously, to the extent you need to preserve your claim for the severance payments due, you should engage bankruptcy counsel to represent you in the company's chapter 11 bankruptcy proceeding. Hope this helps.

Corporate protection under chapter 11 bankruptcy

In addition to the response from Mr. Mohen, you could also move to have the case dismissed as a bad faith filing pursuant to section 1112(b) of the Bankruptcy Code IF the hallmarks for a bad faith filing are present. Different courts have different standards, but some of the hallmarks identified -- which are helpful to use if the filing was really done to forum shop and attempt to get a better result in bankruptcy court than in federal or state court -- are: (1) pre-...