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Douglas D. Koktavy, P.C.

Blog

  • By: Douglas D. Koktavy, Esq.
  • Published: November 17, 2008

BANKRUPTCY PROCEDURE UPDATE: NEW RULE ON PROOF OF CLAIM FILINGS Query: ARE YOU “PAPER FILING” YOUR PROOFS OF CLAIM? (hint: Not Anymore!) Effective December 1, 2008, mandatory electronic filing will apply to creditors who file, on the average, two or more proofs of claim per week. This new rule is called General Procedure Order 2008-5. In addition, creditors are required…Read More

  • By: Douglas D. Koktavy, Esq.
  • Published: October 20, 2008

BANKRUPTCY UPDATE: NEW RULE ON ROUTINE COMMUNICATIONS WITH DEBTOR Borrowers and lenders sometimes find themselves being held hostage to the bankruptcy code. Consider the following example: Borrower is current on a car loan and files bankruptcy for other reasons. Borrower wants to keep the car and work something out with the bank. However, the bank is advised by counsel not to send…Read More

  • By: Douglas D. Koktavy, Esq.
  • Published: October 20, 2008

Effective May 1, 2008, a new Cover Sheet shall be required to when filing a Reaffirmation Agreement. This new rule is called General Procedure Order 2008-2. Click the link below for a full text of GPO 2008-2, including the new form: http://www.cob.uscourts.gov/orders/gpo2008-2andform.pdf Doug Koktavy https://www.coloradocreditorlaw.com/Read More

  • By: Douglas D. Koktavy, Esq.
  • Published: October 20, 2008

MY ATTORNEY SAID RETAIL VALUE APPLIES, RIGHT? The value of collateral in bankruptcy has always been a point of contention. The new bankruptcy law, known as BAPCPA, became effective October 17, 2005, and sought to clarify this issue. One of the creditor friendly provisions of BAPCPA was contained in 506(a)(2) of the Bankruptcy Code, concerning A value and provides: If…Read More

  • By: Douglas D. Koktavy, Esq.
  • Published: October 20, 2008

Strict foreclosure is a little known process where a lender can take back assets in satisfaction of the debt. It eliminates the costly legal and accounting requirements associated with a receivership. This article will explain the process in the context of a hypothetical business borrower in default. World of Widgets ("WOW") operates in a strip mall and enjoys a solid…Read More

  • By: Douglas D. Koktavy, Esq.
  • Published: October 20, 2008

As many of you are aware, courts are divided over the effect of a surrender of a “910” motor vehicle in Chapter 13. A majority of courts allow the auto finance creditor to file an unsecured claim for the deficiency. A minority of courts provide the surrender is in full satisfaction of the debt. Colorado has joined the majority by…Read More