Michael D. O'Brien's Legal Cases (6)

Chapter 13 bankruptcy

In re Watt, 14-31295-tmb13, Bankr. D. Or

Oct 15, 2014

OUTCOME: Huge win for owners of "underwater" property with HOA dues

For the first time in any reported case across the country, the Oregon Bankruptcy Court forces a lender to take back a property over their objection. In this case the Debtors owed substantial homeown ... ers association dues on an upside down property and the lender didn't want it back. Since the HOA dues survive a bankruptcy discharge it was important to force the issue. The Court agreed with the Debtors that the bankruptcy code allowed them to force title to the real property into the name of the lender and thus cut off the accruing HOA dues.

Chapter 11 bankruptcy

Small Business Chapter 11

Dec 03, 2012

OUTCOME: $450,000 debt discharged, $3500 monthly cash flow saved

Individual small business owner operating an adult foster care. Residence maintained but first mortgage loan was fixed in plan, second mortgage loan stripped. First mortgage on foster care home reneg ... otiated at fixed rate terms, Second mortgage on foster care home crammed down.

Chapter 7 bankruptcy

Small Business Owner Navigates Chapter 7

Mar 14, 2012

OUTCOME: Chapter 7 No Asset Discharge

Small business owner with retail shop that suffers as a result of economic decline, burdened with business debt that is personally guaranteed, personal assets potentially exposed. Client is counseled ... on asset protection strategies and pre-bankruptcy planning, ultimately leading to chapter 7 filing that eliminates all debt and completes as a "No Asset" Case

Chapter 13 bankruptcy

Home Saved and Lien Stripped

Feb 15, 2012

OUTCOME: Success Discharge

Debtor in home that is way underwater loses job and falls behind on payments. After regaining employment files chapter 13 to stop foreclosure and save home. Collateral benefit of second mortgage lien ... strip

Chapter 13 bankruptcy

Tax Liability Discharged

Jul 15, 2011

OUTCOME: Successful Discharge of Tax Debt

Individual sells an inherited business with minimal tax basis and substantial tax liability results. With extensive planning the RIGHT time to file bankruptcy is determined, a chapter 13 is filed, and ... nearly $300,000 of income tax liability is discharged

Chapter 11 bankruptcy

Specialty Contractor - Painting operation

Feb 15, 2000

OUTCOME: Liquidating Plan in Chapter 11

Successfully represented Debtor in chapter 11 proceedings filing for protection from creditors and obtaining court approval for sale of business as going concern

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