Quote:
Originally Posted by Exhibitman
The way BK can be manipulated is ugly AF. For example, one of my landlord clients had a deadbeat tenant that kept filing BK without doing the supporting schedules. The court would toss it out after 60 days but it would derail the eviction case each time. My client finally had to get a court order prohibiting it, which took months and cost $10K. The tenant ultimately skated on a year of rent before filing BK for real. My client got $0 as an unsecured creditor.
|
True dat!
Heck, our former President who touts his business acumen and the "art of the deal" has successfully filed bankruptcy SIX times in the 90s and 00s. Never personally though, so he always walks away free and clear. Can only imagine the number of people and businesses hurt.
I fully understand the need and purpose for bankruptcy laws, but like as in your case, very smart attorneys can take advantage of those laws in some seemingly very unethical ways. And they are perfectly legal and able to do so. Nothing personal towards you, but that is a perfect example of why many people absolutely hate attorneys.
Judges and courts have to abide by the laws in place, and though even they may agree the actions were egregious and morally/ethically wrong, they can't really do anything about it till the relevant legislative authority changes the current laws, and the relevant executive authority signs off on the changes.
I'll have to share some of my bankruptcy horror stories with you. Just a little late in the evening right now.