Muenster Bankruptcy Lawyer, Germany


Includes: Bankruptcy Litigation, Commercial Bankruptcy, Consumer Bankruptcy, Dissolution

Till Harald Zech

General Practice
Status:  In Good Standing           Licensed:  27 Years

Busso Hubertus Peus

General Practice
Status:  In Good Standing           Licensed:  10 Years

Lars-Uwe Pera

General Practice
Status:  In Good Standing           Licensed:  28 Years

Rolf B. Arnade

General Practice
Status:  In Good Standing           Licensed:  29 Years

Martin Johannes Zimmermann

General Practice
Status:  In Good Standing           Licensed:  20 Years

Thomas Eberhard Elbel

General Practice
Status:  In Good Standing           Licensed:  24 Years

Alexander Markus Leisten

General Practice
Status:  In Good Standing           Licensed:  14 Years

Wolfgang Nockelmann

General Practice
Status:  In Good Standing           Licensed:  32 Years

Lars-Uwe Pera

General Practice
Status:  Inactive           Licensed:  28 Years

Hildegard Bison

General Practice
Status:  In Good Standing           Licensed:  32 Years

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LEGAL TERMS

LIQUIDATING PARTNER

The member of an insolvent or dissolving partnership responsible for paying the debts and settling the accounts of the partnership.

LIABILITY

(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pi... (more...)
(1) The state of being liable--that is, legally responsible for an act or omission. Example:Peri hires Paul to fix a broken pipe in her bathroom, but the new pipe bursts the day after Paul installs it, ruining the bathroom floor. This raises the issue of liability: Who is responsible for the damage? Peri claims that Paul is responsible, and sues him for the cost of hiring another plumber to fix the pipe and replacing the floor. Paul, in turn, claims that the pipe manufacturer is responsible, because they supplied him with faulty materials. Both Peri and Paul must prove their claims in court; if Paul and/or the manufacturer is found liable, one or both will have to pay damages to Peri. (2) Something for which a person is liable. For example, a debt is often called a liability.

CREDIT REPORT

An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you m... (more...)
An account of your credit history, prepared by a credit bureau. A credit report will contain both credit history, such as what you owe to whom and whether you make the payments on time, as well as personal history, such as your former addresses, employment record and lawsuits in which you have been involved. An estimated 50% of all credit reports contain errors, such as accounts that don't belong to you, an incorrect account status or information reported that is older than seven years (ten years in the case of a bankruptcy).

REAFFIRMATION

An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing deb... (more...)
An agreement that a debtor and a creditor enter into after a debtor has filed for bankruptcy, in which the debtor agrees to repay all or part of an existing debt after the bankruptcy case is over. For instance, a debtor might make a reaffirmation agreement with the holder of a car note that the debtor can keep the car and must continue to pay the debt after bankruptcy.

GENERAL PARTNER

A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the... (more...)
A person who joins with at least one other to own and operate a business for profit -- and who (unlike a corporation's owners), is personally liable for all the business's debts and obligations. A general partner's actions can legally bind the entire business. See also partnership, limited partnership.

PREFERENCE

A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commer... (more...)
A payment made by a debtor to a creditor within a defined period prior to filing for bankruptcy -- within three months for arms-length creditors (regular commercial creditors) and within one year for insider creditors (friends, family members, and business associates). Because a preference gives the creditor who received the payment an edge over other creditors in the bankruptcy case, the trustee can recover the preference (the amount of the payment) and distribute it among all of the creditors.

C CORPORATION

Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S c... (more...)
Common business slang to distinguish a corporation whose profits are taxed separate from its owners under subchapter C of the Internal Revenue Code, from an S corporation, whose profits are passed through to shareholders and taxed on their personal returns under subchapter S of the Internal Revenue Code.

CONSUMER CREDIT COUNSELING SERVICE (CCCS)

A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily fu... (more...)
A national non-profit agency that, at no cost, helps debtors plan budgets and repay their debts. One major criticism of CCCS is that each office is primarily funded by voluntary donations from the creditors that receive payments from debtors repaying their debts through that office. Despite this criticism, most CCCS counselors provide clients with thorough and neutral advice.

FCBA

See Fair Credit Billing Act.

SAMPLE LEGAL CASES

In re Citigroup Inc. Shareholder Derivative Litigation

... By February 2007, subprime mortgage lenders began filing for bankruptcy and subprime mortgages packaged into securities began experiencing increasing levels of delinquency. ... February 12, 2007: ResMae Mortgage, a subprime lender, filed for bankruptcy. ...

In re Lear Corp. Shareholder Litigation

... Despite having avoided the need to file for bankruptcy and having seemingly positioned the company for a profitable near future, Lear's CEO (and long-serving company executive) Robert Rossiter was nervous about Lear's long-term prospects, referring to it in an October 2006 ...

In re Appraisal of Metromedia Intern. Group

... In order to effectuate an asset sale without a vote of its common shareholders, MIG proposed to file a voluntary bankruptcy petition and then seek reorganization under Chapter 11 of the United States Bankruptcy Code. According ...

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