Outstanding debt is beginning to exceed outstanding receivables
Meet in person with a business bankruptcy lawyer as well as the company's accountant. The answer will depend on the asset and liability picture and the potential personal exposure for the company's liabilities. Notably, a corporation cannot receive a discharge, while individuals are eligible if they qualify.See question
I missed my court hearing so a Default Decision/Order was made. What motion do I file to undo this?
I agree with my colleague. Your lawyer could also make a motion to reargue setting forth both the merits of your position and the reason for your failure to appear at the hearing.See question
Defendant failed to answer my motion within 14 days of the return date. Now late, his lawyer is asking if I'll consent to an adjournment. Will he still get it at this point if I refuse to consent? Do I have any options to move the court to rule a...
There is little reason not to consent to a reasonable adjournment request. There is almost zero chance the court would not grant it anyway over your objection. You'll just be wasting your time. Consider also that courtesy works both ways. You may be the one requesting a short adjournment in the future.See question
I was served with a complaint requesting damages for a accident that I was never involved in and know nothing about. I think the person has mixed me up with a person with the same name. I responded to the complaint with a general denial to all al...
Burden of proof is with plaintiff to prove his/her case, not with you. You have responded with denials so you did what you needed to do to join the issues. A lawyer will be able to help you with motion practice or to understand the court rules so you can seek dismissal prior to trial. Good luck.See question
A levy was placed on my bank account on Friday 4/14/17. I filed for bankruptcy today, 4/17/17. I received my case filing which I copied and sent to the creditors lawyers and the clerk of the issuing court. How long does it typically take for t...
Once the bank has the bankruptcy filing notice in hand it usually clears the restraint within one business day. Check back with the judgment-creditor's lawyer or have your own lawyer contact the bank. Good luck.See question
does it mean anything special?
Many judges believe that court conferences result in better outcomes. Speak to your attorney for his/her take. Just be fully prepared and expect the best.See question
Do I need to file a Summary Disposition Request in Las Vegas if I'm unable to go there for a hearing?
Do not ignore this. If you engage the services of a Las Vegas lawyer you may be able to obtain additional time by having the attorney appear on your behalf. Best of luck in getting this resolved.See question
We have a business with a real estate loan that is in default. The building is not worth what the loan amount is. The bank has been unwilling to negotiate with us. We are considering bankruptcy as a way to let the bank keep the building while w...
Whether bankruptcy is the right answer for you and your business depends on the overall facts and particulars of your situation. Meet in person with an experienced New Jersey bankruptcy lawyer. S/he will want to know all of the business assets and other liabilities, income and cash flow, and whether you signed a personal guaranty. Keep in mind that business entities do not receive a discharge, individual debtors do if qualified. Good luck to you.See question
NY is One Party consent law.
Understand that the other side will provide a written transcript of the deposition. There is a cost to producing a transcript, which is the testimony version the court will need for the Q&A to become part of the written record. If you wish to tape your own testimony for your own use there should be no issue with doing so so long as you disclose this to opposing counsel up front.See question