BANKRUPTCY LAW

Simon Rodriguez, a Chapter 7 trustee for bankruptcy estate of bank holding company filed legal action against Federal Deposit Insurance Corporation (FDIC) in its capacity as receiver for subsidiary bank. The trustee requested a declaratory judgment of $4,081,335 tax refund as result of consolidated...

A Chapter 7 Trustee filed an Objection to Agustin J. Jaramillo and Lillian V. Jaramillo’s Claim of Exemption. They requested the Court disallow their claimed exemption in their residence and to limit the remainder of their claimed exemptions in other real property. Mr. Jaramillo used the real...

In October 2020, a Motion for Authority was filed by the Unsecured Creditors’ Committee (UCC) to bring a fraudulent transfer and turnover claim against trusts and parishes. The United States Bankruptcy Court of New Mexico concluded the motion well taken and should be granted.

Debtors, Paul E. Allen and Kelli D. Allen sued Capital One Bank to obtain the return of Mr. Allen’s garnished wages under an avoidable preference theory. After the wages were returned two weeks later, the Allens amended their complaint alleging Capital One willfully violated the automatic stay by...

 The COVID-19 pandemic has caused increases in unemployment, businesses to shut down, bankruptcies, and additional stresses to the real estate market.  Clay Dudley brought a Motion for Additional Time to Purchase New Residential Homestead because of the COVID-19 pandemic.  He sold his Homestead...

Bankruptcy Exemptions

Short Answer: Maybe

There are different types of bankruptcy protection and they are known by their chapter numbers in the Bankruptcy Code or the law that covers bankruptcy. What most people typically think of as bankruptcy is Chapter 7. This is called a “liquidation” bankruptcy: your property is sold, your creditors...