SECTION: FLP NEWSBeware the Third Party Release in Chapter 11! Until the Supreme Court weighs in, the permissibility of third party releases may depend on the scope of the release, the adequacy of the consideration, and the circuit in which the Chapter 11 bankruptcy case is pending. MARC A. LIEBERMAN, ESQ | 7.22.2022 Can a corporation’s [...]
Category: Bankruptcy
A debtor whose discharged is denied or revoked in a Chapter 7 case cannot discharge in a later Chapter 7 case claims incurred before the prior case. 11 U.S.C. §523(a)(10). However, for individuals who qualify for Chapter 13, the denial or revocation of discharge in an earlier Chapter 7 case might not preclude the granting of a so-called “super-discharge” in a later-filed Chapter …