Fisher & Williams PLC - Untitled 1

Tax Claims

The treatment of tax debts in bankruptcy proceedings is an attempt to reconcile two conflicting policies. The first policy concerns the government's interest in collecting taxes. The second policy concerns the fresh start that bankruptcy is to...

Case Closing and Reopening

Case Closing

After an estate is fully administered and the court has discharged the trustee, the court shall close the case. The Rules of Bankruptcy Procedure provide the procedure for case closing. If in a...

Chapter 12 Hardship Discharge

A family farmer may be excused from completing payments under a plan of reorganization if payments under the plan are not completed due to circumstances for which the family farmer cannot be held accountable and other statutory criteria have...

IRA Protection in Bankruptcy

Social Security benefits, company pensions, and 401(k) plans are all shielded by law and are, therefore, not lost to creditors in bankruptcy. Whether that same protection extends to an individual retirement account (IRA) is not clear. The...

Creditor Claims

A "claim" is a right to payment, whether or not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured. A claim may also be the right to an...