The firm regularly assists Chapter 7 bankruptcy trustees and specially-appointed Chapter 11 bankruptcy trustees in administering Chapter 7 and Chapter 11 bankruptcy cases, including obtaining court approval to market, sell, or auction assets of the estate, objecting to a debtor’s discharge, objecting to debtors’ exemptions, objecting to creditor claims, and pursuing legal claims belonging to an estate. Gerrard Cox & Larsen has handled cases for a variety of past and present trustees appointed in the United States District of Nevada.
Once a bankruptcy case is filed, 11 U.S.C. § 362 imposes an automatic stay which prevents a creditor from foreclosing against real estate and performing other collection efforts against a bankruptcy debtor. Gerrard Cox & Larsen files and litigates motions before the United States Bankruptcy Court to obtain relief from the automatic stay to permit secured creditors to pursue trustees sales of real estate, and to collect automobiles, heavy construction equipment, and other collateral for their loans.
The firm asserts claims on behalf of secured and unsecured creditors, monitors the bankruptcy cases for the benefit of creditors, defends the claims in the event that the trustee or another interested party objects to the claim, and assists creditors in obtaining payment through the bankruptcy in the event that a bankruptcy estate has sufficient assets.
Adversary proceedings are lawsuits which arise inside of a bankruptcy case, and often arise in situations where a debtor has obtained a loan through fraud, a debtor is hiding assets, a debtor has fraudulently transferred away or disposed of assets prior to filing, or a debtor or another creditor has refused to turn over assets of the estate. Gerrard Cox & Larsen assists trustees and creditors in all aspects of litigation.