Chapter 11 Retainer is Property of Estate even if Paid by Third Party

Submitted by Anonymous (not verified) on Sun, 10/06/2013 - 19:00
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In re Newcomb Print Communications, Inc., Case No. 12-08042 (Bankr. W.D. Mich., Sept. 6, 2013).
When a debtor files a case under Chapter 11 and retains legal counsel, another person or entity may fund the debtor’s retainer. But even when the debtor is not the source of the funds, the retainer is property of the bankruptcy estate – which is particularly important if the case later converts to Chapter 7. Read More ›
Tags: Chapter 11, Chapter 7