bonkers101
Member
TX
I am in a suit against an organization for the abuse of myself and a number of other children raised there. It was filed in 2000, but they filed bankruptcy in 2003 I think. Things are progressing SO slowly in the courts, the judge approved their reorganization plan and settlement offer and payments were supposed to start in September. We got a letter stating they again pushed it back to 2006, though it doesn't give a month as far as time frame.
My question is this - someone told me they can file another chapter 11 on their debts from the first chapter 11 if they can drag it out for 7 years. If they can state that they can't afford to pay the settlement THEY offered, they can just refile bankruptcy on it again. Is this true?
Also - once the judgement is made and the judge signs off on the settlement agreement, does the money accrue interest until it is paid out in full?
thanks.
I am in a suit against an organization for the abuse of myself and a number of other children raised there. It was filed in 2000, but they filed bankruptcy in 2003 I think. Things are progressing SO slowly in the courts, the judge approved their reorganization plan and settlement offer and payments were supposed to start in September. We got a letter stating they again pushed it back to 2006, though it doesn't give a month as far as time frame.
My question is this - someone told me they can file another chapter 11 on their debts from the first chapter 11 if they can drag it out for 7 years. If they can state that they can't afford to pay the settlement THEY offered, they can just refile bankruptcy on it again. Is this true?
Also - once the judgement is made and the judge signs off on the settlement agreement, does the money accrue interest until it is paid out in full?
thanks.