Chapter 11 Summary A primary difference between a Chapter 7 liquidation and a Chapter 11 reorganization is that the Chapter 11 estate is generally managed by the debtor (called a “debtor in possession” — “DIP”) instead of a trustee. A second primary difference is that the DIP is given a chance to reorganize his, her […]
Homesteads and Bankruptcy Planning: the best laid plans of mice, men and debtors….
- Bankruptcy
Homesteads and Bankruptcy Planning: the best laid plans of mice, men and debtors… While bankruptcy planning is permitted, changes made to the bankruptcy code in 2005 have constrained efforts to convert non-exempt assets into a homestead exemption. New section 522(o) provides that the value of an interest in a homestead exemption is reduced to the extent […]
