Colorado Bankruptcy Options - Credit Cards
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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:
Kontrick v. Ryan, No. 02-819 (2004), Argued November 3, 2003, Decided January 14, 2004, CERTIORARI TO THE
UNITED STATES COURT OF APPEALS FOR THE SEVENTH CIRCUIT. A creditor in Chapter 7 liquidation proceedings has "60
days after the first date set for the meeting of creditors" to file a complaint objecting to the debtor's
discharge. Fed. Rule Bankruptcy Proc. 4004(a). The bankruptcy court may extend that period "for cause" on
motion "filed before the time has expired." Fed. Rule Bankruptcy Proc. 4004(b). Reinforcing Rule 4004(b)'s
restriction on extension of the Rule 4004(a) deadline, Rule 9006(b)(3) allows enlargement of "the time for taking
action" under Rule 4004(a) "only to the extent and under the conditions stated in that rule," i.e.,
only as permitted by Rule 4004(b). Held: a debtor forfeits the right to rely on Rule 4004 if the debtor does not raise
the Rule's time limitation before the court considers a creditor's objection to discharge. Only Congress
may determine a lower federal court's subject matter jurisdiction. U.S. Const., Art. III, Sec. 1. The Code
establishes objections to discharges as core proceedings within the courts' jurisdiction. 28 U.S.C. Sec. 157(b)(2)(J).
Congress did not include time constraints within the Code. As Bankruptcy Rule 9030 states, the Bankruptcy Rules shall
not be construed to extend or limit the jurisdiction of the courts. The filing deadlines prescribed in Rules 4004 and
9006(b)(3) are claim-processing rules that do not determine subject matter jurisdiction.
The resources we chose to list pertain in some way to filing Colorado Bankruptcy, whether laws, discharge,
reorganization or other topics . Vast areas of law apply to Colorado Bankruptcy case proceedings and are enforced by
the courts within each case. As new Colorado Bankruptcy laws are enacted each year, the scope of this website
continues to grow.
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