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Tag Archives: West Palm Beach bankruptcy lawyers

The IRS, Bankruptcy and You

By David Markarian |

Federal income tax discharge. In certain circumstances, individual income taxes may be discharged in bankruptcy. It is important to understand the crossover effect between Bankruptcy Code section 507(a)(7)(A)(i) and Bankruptcy Code section 523(a)(1)(a). By reading these sections together, one can discern that income taxes arising from a tax year for which the tax return was… Read More »

THE ABC’S OF THE ABC: How does an ASSIGNMENT FOR THE BENEFIT OF CREDITORS work?

By Julianne Frank |

As lawyers representing companies experiencing financial distress, our first mission is diagnosis. Like a physician we have to first understand the nature of the disease before we can determine the best medicine to administer. There are instances where Chapter 11 is not the appropriate tool. The company that cannot be restructured under Chapter 11… Read More »

Test your Bankruptcy Acumen: Part One

By Julianne Frank |

In the course of my 35 years of bankruptcy practice, I find that there are certain questions or issues that seem to be common concerns of those considering a bankruptcy filing. I also find that  prospective clients arrive with preconceived notions about the answers to these questions, or have received bad information from unreliable… Read More »

When is Exempt not Exempt? The Case of the Rare Bird

By Julianne Frank |

The answer to that question could fill volumes but most recently it has encountered a new twist. That twist is embodied in the following fact scenario: You file bankruptcy and list a particular asset, your home, for example, as exempt[1]. Your trustee and creditors have a limited window to object to that exemption. The… Read More »

A New Front in Foreclosure Wars – Statements in Bankruptcy

By David Markarian |

By Dave Markarian A new trend is emerging in the ongoing skirmishes between home mortgage lenders and homeowners involved in lengthy mortgage foreclosure proceedings, in which homeowners defending foreclosure actions have previously sought and received Chapter 7 bankruptcy protection. In an increasing number of cases, lenders are seeking to re-open homeowners’ closed bankruptcy cases… Read More »

Chapter 11 Diagnostic Tools: How We Determine if a Distressed Business is Salvageable

By David Markarian |

By Julianne Frank & David Markarian Chapter 11 is a powerful medium. Using it, the debtor can often reduce loan balances on secured (collateralized) debt to the distress value of the collateral, pay very small amounts of unsecured debts (general payables) over very long periods of time, completely eliminate debt owed to certain creditors,… Read More »

Saving the Troubled Business

By Julianne Frank |

You own a small business and it is struggling. Can you save it and your investment? There are several versions of restructuring and reorganization under both Federal and state laws, and with careful planning you can: stop collection activity (including foreclosures and other lawsuits), force lenders to reduce principal and alter terms of loans,… Read More »

Bankruptcy Creditors Beware

By Julianne Frank |

The Bankruptcy Rules Advisory Committee has recommended that certain  amendments to the rules surrounding the procedures for filing proofs of claim and that they take effect on December 1, 2015. Currently, Bankruptcy Rule 3002(c) states that in a Chapter 7 liquidation, a Chapter 12 family farmer’s debt adjustment, or a Chapter 13 individual debt… Read More »

Markarian & Hayes
Markarian & Hayes is located in Palm Beach, Wellington & Vero Beach, Florida and serves clients across Florida from Vero Beach to the Florida Keys, including those in and around Palm Beach, West Palm Beach, Pahokee, Delray Beach, Loxahatchee, Coral Springs, Boca Raton, Boynton Beach, Lake Worth, Deerfield Beach, South Bay, Pompano Beach, Hobe Sound, Stuart, Port St. Lucie, Sebastian, Fort Pierce, Hollywood, Tampa, Tallahassee, Orlando, Martin County, Broward County, Hillsborough County, Leon County, Palm Beach County, Fort Lauderdale, Miami-Dade County and Sebastian. The firm’s lawyers also have a long history representing clients’ interests throughout the Caribbean.
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