Can someone sell of assets when bankrupcy has been filed for
I am a creditor. A person who owes me a substantial amount of money has filed for bankrupcy. However he is selling his assets off. Can he legally sell his assets before the court decides on his case?
Re: Can someone sell of assets when bankrupcy has been filed for
Your debtor may, in fact, be selling assets under the direction of the Bankruptcy Trustee; if that's the case, the Trustee is making sure that funds are available to pay all creditors, including you. If it's not the case, there may be another reason why the sale of assets is permitted. Without knowing the case, your question cannot be answered effectively on this board.
You need to contact an attorney who handles creditor bankruptcy issues to get this matter looked into sufficiently. Contact the Capital District's Bankruptcy Bar for a referral to a creditor's attorney. You can find a link to their website from the site of the US Bankruptcy Court for the Northern District of NY (www.nynb.uscourts.gov ... or maybe that should be nbny?)
THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.
Re: Can someone sell of assets when bankrupcy has been filed for
Your debtor may, in fact, be selling assets under the direction of the Bankruptcy Trustee; if that's the case, the Trustee is making sure that funds are available to pay all creditors, including you. If it's not the case, there may be another reason why the sale of assets is permitted. Without knowing the case, your question cannot be answered effectively on this board.
You need to contact an attorney who handles creditor bankruptcy issues to get this matter looked into sufficiently. Contact the Capital District's Bankruptcy Bar for a referral to a creditor's attorney. You can find a link to their website from the site of the US Bankruptcy Court for the Northern District of NY (www.nynb.uscourts.gov ... or maybe that should be nbny?)
THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.
