Bankruptcy is a legal term that often induces fear and confusion in the minds of individuals and businesses struggling with mounting debts. It is essentially a legal recourse designed to provide those ...

On Feb. 4, the Ninth Circuit U.S. Court of Appeals, in a 2-to-1 opinion, affirmed a long-standing pre-bankruptcy planning strategy of converting non-exempt assets to exempt assets shortly before ...

In a Chapter 7 bankruptcy, creditors can seize certain assets to repay the debts you owe. However, exceptions allow debtors to retain some of their assets (or at least part of the asset’s value).

A debtor's non-exempt assets (and even the debtor's entire business) are commonly sold during the course of a bankruptcy case by the trustee or a chapter 11 debtor-in-possession ("DIP") as a means of ...