Bankruptcy Law Archives

Terminating Sanctions for Document Fabrication in Federal Court

May 3, 2022November 17, 2021 by Scott Talkov

Federal courts have repeatedly found that terminating sanctions are appropriate when a party commits the cardinal sin of litigation since “fabricating evidence has been referred to as the most egregious misconduct which justifies a finding of fraud upon the Court.” Kenno v. Colorado’s Governor’s Off. of Info. Tech., 2021 WL 2682619, at *19 (D. Colo. June … Read More

11 USC 522(o) – Homestead Exemption Limitations in Bankruptcy

February 26, 2022November 1, 2021 by Scott Talkov

In bankruptcy, creditors can allege that debtors should lose the part of their homestead exemption that is allegedly “attributable to” an “intent to hinder, delay, or defraud a creditor” under 11 U.S.C. § 522(o). This is particularly important given the recent increase in California’s homestead exemption effective January 1, 2021, which is now as high … Read More

California Bankruptcy Exemptions Talkov Law

California Bankruptcy Exemptions – 704 vs. 703?

February 26, 2022July 30, 2021 by Talkov Law

Bankruptcy Exemptions in California Filing for Chapter 7 bankruptcy in California is a powerful tool that can relieve debtors of unsecured debts and provide a fresh start. Many people assume that bankruptcy involves creditors taking all their personal property, especially their home and vehicle. However, California bankruptcy exemptions allow debtors to maintain possession of certain … Read More

Bankruptcy Trustee Objection to Hiring Counsel Talkov Law

Bankruptcy Trustee Application to Employ Counsel Must Show Benefit the Estate [11 USC 327(a)]

February 26, 2022July 24, 2021 by Talkov Law

Objections to a Bankruptcy Trustee Hiring a Lawyer There is a common myth that an objection to a bankruptcy trustee’s application to employ an attorney (counsel) is only proper if the attorney is not “disinterested,” a concept similar to being conflicted out of the case. In other words, many believe that not having an interest … Read More

Selling a Home with a Lien Talkov Law California Real Estate Lawyer

5 Tricks to Selling a House in California With a Lien or Judgment

April 22, 2022July 24, 2021 by Talkov Law

Can You Sell California Property with a Lien or Judgment? Purchasing or selling a house is one of the biggest (and usually most expensive) events in a person’s life. This exciting time can be quickly dampened by one thing: a lien. Whether you are buying or selling a home, it is extremely important to ensure … Read More

Contract Attorneys Fees Bankruptcy Litigation California Code Civil Procedure 1021

Motion for Attorney’s Fees in Bankruptcy Adversary Proceedings Under Contract [California CCP 1021]

March 25, 2022May 27, 2021 by Talkov Law

While the general rule in American courts is that each party pays their own attorney’s fees, parties in bankruptcy adversaries and contested matters in California may be entitled to file a motion for attorney’s fees if a contract provides for such a recovery under California Code of Civil Procedure 1021. This pertains to prevailing parties … Read More

CCP 704.965 Automatic Homestead Exemption California Declared Homestead Exemption

CCP 704.965 – Automatic Homestead Exemption Defeats Outdated Limits on Declared Homestead Exemption in Bankruptcy

February 26, 2022May 4, 2021 by Scott Talkov

Debtors Can Still Claim California’s Increased, Automatic Homestead, Despite California Code of Civil Procedure § 704.965 Effective January 1, 2021, the California homestead exemption increased to $300,000 to $600,000 depending upon the median sales price in the county of residence, up from a meager $75,000 to $175,000 the year before. In turn, creditors have looked … Read More

Bankruptcy Trustee Continuing 341 Meeting of Creditors Talkov Law

Why Is the Bankruptcy Trustee Continuing the Meeting of Creditors?

February 26, 2022April 29, 2021 by Talkov Law

Continuances of Meetings of Creditors – What is the Bankruptcy Trustee Investigating? Imagine this: you have filed all necessary bankruptcy paperwork and have attended your mandatory 341 meeting of creditors. You honestly answered all questions that the bankruptcy trustee asked you. Then, you get a notice that your bankruptcy trustee is continuing the meeting of … Read More

Transferring Exempt Property is Not a Fraudulent Transfer Under California Law

Transferring Exempt Property May Not be a Fraudulent Transfer

February 26, 2022April 19, 2021 by Scott Talkov

Transferring Exempt Property May Not be a Fraudulent Transfer Under California Law It is not uncommon for debtors to want to maximize the amount of property they get to keep to avoid creditor collection efforts, especially efforts to collect their personal residence. Generally, the California Uniform Voidable Transactions Act (UVTA) prohibits debtors from transferring ownership … Read More

Nondischargeability for Fraud “Other Than a Statement Respecting the Debtor’s Financial Condition” in Bankruptcy [11 USC 523(a)(2)(A) & 523(a)(2)(B)]

February 26, 2022March 23, 2021 by Ferdeza Zekiri

Bankruptcy Code Section 523(a)(2)(A) Dischargeability Cannot be Based on Oral Fraudulent Misrepresentation “Respecting the Debtor’s Financial Condition” The Supreme Court has held that nondischargeability under Section 523(a)(2)(A) of the Bankruptcy Code for fraudulent misrepresentations “other than a statement respecting the debtor’s or an insider’s financial condition” means that creditors in bankruptcy are barred from claiming … Read More