by Matthew Gensburg | Mar 1, 2021 | GCK on Law
In order to confirm a Chapter 11 plan, the debtor must meet the requirements of 11 U.S.C. §1129(a). In connection therewith, subject to the exception contained in Section 1129(a)(8), all impaired classes under the plan must vote in favor of acceptance of the plan. ...
by Matthew Gensburg | Feb 22, 2021 | GCK on Law
Section 554(c) of the Bankruptcy Code provides that, unless the court orders otherwise, “any property scheduled under section 521(a)(1) of this title not otherwise administered at the time of the closing of a case is abandoned to the debtor.” Surprisingly, courts...
by Sandra Mertens | Feb 17, 2021 | GCK on Law
In March 2020, the federal government passed the Families First Coronavirus Response Act (“FFCRA”) which provided a refundable tax credit for eligible self-employed individuals who were unable to work or telework because they or a family member had COVID-19. The tax...
by Matthew Gensburg | Feb 15, 2021 | GCK on Law
Section 303(b)(1) of the Bankruptcy Code provides, in relevant part, that “[a]n involuntary case against a person is commenced by the filing with the bankruptcy court of a petition under chapter 7 or 11 of this title – (1) by three or more entities, each of which is *...
by Matthew Gensburg | Feb 11, 2021 | GCK on Law
Section 706(a) of the Bankruptcy Code (“Code”) provides “[t]he debtor may convert a case under this chapter to a case under chapter 11, 12 or 13 of this title at any time, if the case has not been converted under section 1112, 1208 or 1307 of this title.” While the...
by Matthew Gensburg | Nov 9, 2020 | GCK on Law
Under Section 109(f) of the Bankruptcy Code, “[o]nly a family farmer * * * with regular annual income may be a debtor under chapter 12 of this title.” Chapter 12 of the Bankruptcy Code provides for the adjustment of debts of a “family farmer” as the term is defined...
