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310.376.9865
Today I observed two things at the bankruptcy 341(a) meeting of creditors
- First: My client was at the end of the calendar, and was due to be called for examination next to last. I was at the back of the room and I noticed one debtor that was due to be examined, and he kept getting phone calls on his cell, and he would jump up and run out into the lobby so he could talk on the phone. Since he was not observing the process or the questioning he was ill prepared when he went up to the table to be examined. Furthermore, he apparently owed more than $one million dollars in unsecured debt, and when you have a high amount of debt, the trustee usually has more questions.
- Sure enough went he was examined he was stumped by some of the same questions that had been asked repeatedly, and if he had paid attention, he would have been to answer the questions easily. His meeting was continued.
- This is one of the reasons I like for my client to arrive at the hearing 30-45 minutes early, I can go over the question that will be asked one more time, then they can watch 5 to 10 people go ahead of them, and they can observe the process, and if there are any questions that are asked before them, we can go out in the hall and discuss them, so they are ready for the examination.
- Second: A corporation filed for bankruptcy, why, I don’t know. The bankruptcy attorney had his client prepared, however when a corporation files bankruptcy more information is required. In this case the trustee asked the bankruptcy attorney to provide a list of all assets, lease agreements, machinery, equipment, deposits , etc, and provide an accounting of what happened to all the property. Also needed, bank statements and tax returns for the corporation. So, when ever a corporation files for bankruptcy, it will be more involved.
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- Los Angeles/Orange County Bankruptcy Attorney
- Law Offices MJ Mann Bankruptcy Attorney
- 2706 Artesia Blvd, Suite BK
- Redondo Beach, CA 90278
- 310.376.9865
