Author Archives: LegalAZ
BANKRUPTCY—CHAPTER 11–TWO EXAMPLES OF A SUCCESSFUL “CRAMDOWN” ON DEBTS SECURED BY DEBTOR’S RESIDENCE AND RENTAL PROPERTY
Our client filed a chapter 11 bankruptcy proceeding. Client owned a primary residence with a First Deed of Trust securing a loan of $780,000 and a second Deed of trust of $498,981. Client also owned a rental property with a loan of $636,793. By filing two separate actions in the bankruptcy court, we were able to reduce the loan secured by the second Deed of Trust on the residence to $150,000. The loan on the rental property was reduced to … Continue reading
SUCCESSFUL OUTCOME IN TWO BUSINESS CASES—PLAINTIFFS PAID THE DEFENDANTS (OUR CLIENTS)
We represented one client who was sued by a former business associate for approximately $100,000. It was a fairly complex case which involved the taking of numerous depositions, motions with the court, etc. shortly before the trial date, the Plaintiff who brought the action voluntarily agreed to pay our client a significant sum to settle the matter. Although this is not always the result, it demonstrates the result of good creative lawyering that ended with a good result for our … Continue reading