chapter 7

Real Property Owned By Dissolved LLC Was Not Property Of Individual Member’s Bankruptcy Estate

06/25/25

In In re Kimball, Ch. 7 Case No. 24-11036-pmb, 667 B.R. 487 (Bankr. N.D. Ga. 2025) (click here for pdf) , the Lender foreclosed on commercial property owned by a limited liability company on August 6, 2024.

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Judge Coleman – Vehicle Cannot Be Exempted as Tool of Trade

06/17/25

In In re Cady, Ch. 7 No. 24-41026-ejc, 2025 WL 1587266 (Bankr. S.D. Ga. June 4, 2025) the issue was whether the Debtor, a real estate agent, could claim an exemption in her vehicle as a tool of the trade.

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When Should A Corporation File Chapter 7?

05/04/25

When an individual files for Chapter 7 relief, the goal is to keep their exempt property and discharge their dischargable debts. A corporation does not receive either of these benefits in Chapter 7, meaning that it turns over all of its property to be liquidated and still owes the remainder of its debts after the case is over. So why would a corporation ever for Chapter 7?

Bad Stuff Can Happen

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