Although Social Security benefits are not subject to the “operation of any bankruptcy or insolvency law,” judge says they can be considered in deciding whether someone should be allowed to confirm a chapter 13 plan or have a chapter 7 case dismissed for ‘abuse.’
With deadlines already elapsed, Judge Grossman disagrees with three judges who allowed redesignation under subchapter V of chapter 11.
More than 600 cases have already been filed under the SBRA since subchapter V of chapter 11 became effective in February.
The expansive definition of a ‘financial institution’ allows fraudulent transfers to be structured so that no one will ever be held liable.
Bankruptcy Judge David Warren warns small business trustees that they won’t be compensated if they are “overzealous” or undertake “unnecessary or duplicative services.”