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Guest
NONE WILL TOUCH THIS ONE CH11 attack small bus
What is the name of your state? TN
Is there any real defense for this thing called "90 days prior to CH filing"? This is the part of 11 in code 547 and others that says in plain eng.. You must repay any monies paid you by the company NOW in CH11.. as you were paid (for goods,services, etc) within 90 days of the CH 11 filing. Also states that prima facie you are guilty if paid and further that company is considered "insolvent" if they paid their bills within 90 day of CH 11..
This is a very nasty little law that most do not know about and futher MOST do not know these folks can wait almost two years to attack.. With record CH 11 forecast for 2007.. a lot of small business going to get economically hammered.. ANY read defense against it and please no "Hire a lawyer" friend in one case we know of "Owed" $18K.. and lawyers "estimated 10K-15K and then you may still have to pay" . so a loser either way there.. IDEAS?
FYI A LOT OF SMALL BUSINESS GOING TO GET HIT BY THIS ONE.. as one retired lawyer told me.. that 2005 act is about a poor a law as ever written.. corp and lawyer welfare... more a management tool for investors and a gold mine for lawyers then good law. Seems he is right.
What is the name of your state? TN
Is there any real defense for this thing called "90 days prior to CH filing"? This is the part of 11 in code 547 and others that says in plain eng.. You must repay any monies paid you by the company NOW in CH11.. as you were paid (for goods,services, etc) within 90 days of the CH 11 filing. Also states that prima facie you are guilty if paid and further that company is considered "insolvent" if they paid their bills within 90 day of CH 11..
This is a very nasty little law that most do not know about and futher MOST do not know these folks can wait almost two years to attack.. With record CH 11 forecast for 2007.. a lot of small business going to get economically hammered.. ANY read defense against it and please no "Hire a lawyer" friend in one case we know of "Owed" $18K.. and lawyers "estimated 10K-15K and then you may still have to pay" . so a loser either way there.. IDEAS?
FYI A LOT OF SMALL BUSINESS GOING TO GET HIT BY THIS ONE.. as one retired lawyer told me.. that 2005 act is about a poor a law as ever written.. corp and lawyer welfare... more a management tool for investors and a gold mine for lawyers then good law. Seems he is right.
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