Thursday, October 24, 2013

Tampa Individual Absolute Priority Rule Ruling

As expected another judge in Florida has ruled that the absolute priority rule (APR) still applies in individual Chapter 11 cases.

Judge Williamson recently wrote a memorandum opinion in the case of In re: Valerie Ann Martin with a local case number of 8:13-bk-00624-MGW that follows Chief Judge Jennemann's In re Gelin opinion almost to the exact word.

The most interesting part of the opinion is where Judge Williamson takes the time to differentiate this case from his previous case of SPCP Grp., LLC v. Biggins in which the District Court in Tampa upheld and stated that the APR does not apply to individual Chapter 11 cases.  (For more information on the distinction please look at the opinion page 5)

Again there are many other reasons for individuals to consider Chapter 11 bankruptcy when faced with tough financial times.  Please feel free to call (904) 354-5065 to setup a free consultation to consider your particular situation and options.  You may also email jason@jasonaburgess.com or for more information please visit www.chapter11jax.com

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