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Monday, October 27, 2014

What is an Adversary Proceeding in a Bankruptcy Case? Attorney Peter Lamont Explains

An Adversary proceeding is a lawsuit arising out of or related to a pending bankruptcy case. While it can be filed by the individual petitioning for the bankruptcy, it is more commonly filed by a creditor or the trustee.  
Adversary lawsuits are more common in more complex bankruptcy filings but are often filed in more "straightforward" cases as well.  The subject of an adversary proceeding varies but most commonly involves: (1) issues concerning the dischargability of a debt; (2) objections or revocations of a discharge; (3) recovery of money or property; and (4) violation of an automatic stay by a creditor.
Similar to a regular lawsuit, an adversary proceeding is initiated by the filing of a Complaint with the U.S. Bankruptcy Court. The respondent (similar to a defendant in "regular" litigation) may then file an answer to the petitioner’s allegations. During the proceedings, the parties are permitted to conduct discovery — which may include depositions, interrogatories and subpoenas for documents. The bankruptcy court may conduct a hearing at which the judge considers the evidence presented by the parties and makes a decision; however, many adversary proceedings are settled by consent order.
If you would like more information about this topic or have general legal questions, please feel free to contact me at (973)949-3770 or via email at plamont@peterlamontesq.com We answer legal questions on a daily basis and would be happy to discuss any issues or questions that you have with you.  Offices in: New Jersey New York, Colorado & Puerto Rico.  Affiliated throughout the country.

© 2014, Law Offices of Peter J. Lamont. This Update is provided for informational purposes only. It is not intended as legal advice nor does it create an attorney/client relationship between the firm and any readers or recipients. Readers should consult counsel of their own choosing to discuss how these matters relate to their individual circumstances. This Update may be considered attorney advertising in some states. Furthermore, prior results do not guarantee a similar outcome.
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