Colorado Bankruptcy Resources

The sites below were reviewed for content which is relevant to the Colorado bankruptcy issues appearing within this site. For more information regarding our selection of links, please see our review policy. If you have further questions, do not hesitate to email us at admin@colorado-bankruptcy.com. We welcome all sites submitted which are relevant to Colorado bankruptcy issues. We respond to all requests within 3 business days.

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Recent Notable Opinions from Colorado Bankruptcy Courts

Weinman v. Miscio & Stroud, et al., Adversary Proceeding No. 03-1109-SBB decided January 30, 2004 by the Colorado Bankruptcy Court. The trustee in this Chapter 11 case filed an adversary complaint under 11 USC.547 & 550 to avoid preferential transfers against a corporation and two individuals. The trustee contended the debtor tendered 2 prohibited payments totaling $29,000 to the corporation within 90 ninety days before the petition was filed. The complaint further alleged that the corporation subsequently transferred these payments to the individual defendants in separate installments. While the adversary complaint was pending before the Colorado Bankruptcy Court, the corporation agreed to accept a default judgment. The trustee's complaint asserted two claims for relief: 1) the transfers to the corporation  were voidable as preferences according to 11 USC 547(b), and 2) "In the alternative, the [corporation] upon receipt of the funds was obligated to immediately disburse the funds to the [two individuals]. Therefore, the corporation was merely a conduit, and [the two individuals] are initial transferees." The corporation failed to answer the complaint yet indicated to the trustee's office it did not object to a default judgment entered by the Colorado Bankruptcy Court. After entry of the default judgment, the 2 individuals sought dismissal of the complaint upon the pleadings based upon the doctrine of election of remedies. The Colorado Bankruptcy Court held: Because the corporation was insolvent, controlled by the individuals, and retained questionable authority to accept a default judgment, the Colorado Bankruptcy Court was not prohibited to allow the trustee to seek reimbursement from the individuals.

Recent Notable Opinions of the Supreme Court of The United States:

Young v. United States, Docket Number: 00-1567 IN THE SUPREME COURT OF THE UNITED STATES, Argued January 9, 2002, Decided March 4, 2002. Cornelius and Suzanne Young failed to include payment with their 1992 income tax return filed on October 15, 1993. After filing Ch. 13, the IRS assessed tax liability and the Ch. 13 case was later dismissed for their inability to pay taxes through the plan. A new case initiated under Ch. 7 resulted in discharge of the Young's debts. Under the Code, the IRS generally maintains a priority for payment  for taxes due within three years of filing a petition under 11 USC 507(a)(8)(A)(i). This priority renders recent taxes non-dischargeable according to 11 U.S.C. 523(a)(1)(A). When the IRS subsequently demanded payment after the Ch. 7 discharge, the Youngs filed a motion to reopen their Chapter 7 case and specifically discharge all taxes demanded because liability arose before the 11 U.S.C. 507(a)(8)(A)(i) three-year look-back period. The District Court found for the IRS, holding the look-back period was tolled while the Ch. 13 case was pending, and further concluded the 1992 debt had not been eliminated by the Young's Ch. 7 discharge even though no objection to discharge was filed. The Court of Appeals affirmed the Colorado Bankruptcy Court. Held: In a unanimous opinion delivered by Justice Antonin Scalia, the Court determined the 11 U.S.C. 507(a)(8)(A)(i) look-back period was tolled during the pendency of the Chapter 13 case upon the filing of the petition. Justice Scalia reasoned the look-back period was tolled by operation of law because the Code does not explicitly prohibit equitable tolling in favor of the IRS. The implication of this decision affects all Colorado bankruptcy cases. The look-back period applicable to taxes assessed by the State of Colorado are also presumably tolled by initiating any Colorado bankruptcy proceeding.

The resources we list relate in some way to filing Colorado Bankruptcy, whether laws, discharge, reorganization or other topics. Vast bodies of law apply to Colorado Bankruptcy proceedings and are incorporated by the courts within each case. As new Colorado Bankruptcy laws are enacted each year, the scope of this website continues to grow.