Law Office of Andrew S. Treharne, lawyers in Mukwonago, WI, Wisconsin

Effect of Chapter 11 Confirmation

The provisions of a confirmed plan bind the debtor; any entity issuing securities or acquiring property under the plan; and any creditor of, equity security holder of, or general partner in, the debtor. Except as may be otherwise provided in the plan or in the order approving the plan, confirmation of the plan vests all of the property of the estate in the debtor. Except as otherwise provided in the plan or in the order confirming the plan, property dealt with by the plan is free and clear of all claims and interests of creditors, equity security holders, and general partners.More...

Chapter 13 Eligibility

Only individuals may file for Chapter 13 bankruptcy. Corporations and partnerships may not file for Chapter 13 bankruptcy. Any individual, even if self-employed or operating an unincorporated business, is eligible for Chapter 13 relief as long as that individual has regular income greater than reasonable living expenses, has unsecured debts not exceeding a certain sum, and has secured debts not exceeding a certain sum.More...

Compensation for Professionals

The Bankruptcy Code provides the statutory authority for compensating the services and reimbursing the expenses of officers of the estate. These claims are afforded first priority in the distribution of an estate. The Bankruptcy Code prescribes the standards according to which the amount of compensation is to be determined. More...

Nondischargeable Debts

Dischargeable debts are those debts that can be discharged through bankruptcy proceedings. Certain debts cannot be discharged through a bankruptcy proceeding. In a Chapter 7 bankruptcy, nondischargeable debts cannot be discharged at all, and in a Chapter 13 bankruptcy, these debts remain even after the repayment plan is completed.More...

Setoffs in Bankruptcy

Setoff is an equitable right of a creditor to deduct a debt it owes to the debtor from a claim it has against the debtor arising out of a separate transaction. The Bankruptcy Code is not an independent source of law that authorizes a setoff; it recognizes and preserves rights that exist under non-bankruptcy law.More...