Relief for Farmers Prior to 1986, a debtor intending to reorganize debts had two options for filing for bankruptcy: Chapter 11 or Chapter 13. Unfortunately, neither option was particularly well suited for family farmers. Chapter 11 provided a complicated and expensive route to relief, while Chapter 13 lent itself to reorganizing debt loads much lower […]
In bankruptcy, parties fight over a limited pool of assets while fees diminish what remains in the estate. While most creditors are responsible for paying their own attorneys’ fees, oversecured creditors are entitled to attorney fees from the debtor pursuant to 11 U.S.C. § 506(b) which states: To the extent that an allowed secured claim is […]
The decision to file bankruptcy is not one that is made lightly. By the time the petition is filed, there have likely been many difficult conversations and strategy sessions to make sure that the entity or individual is making the best move for the future. An essential part of that strategy involves considering the goals […]
Shareholder Joe Peiffer and associate Austin Peiffer recently co-authored an article on chapter 12 bankruptcy with Vermont bankruptcy trustee Jan Sensenich. It was published in the May 2021 edition of the American Bankruptcy Institute‘s ABI Journal. **As of April 1, 2022, the chapter 12 bankruptcy debt limit was raised to $11,097,350.
Recently shareholder Joe Peiffer and associate Austin Peiffer went toe-to-toe with attorneys representing Farm Credit over that creditor’s exorbitant fee demand. While secured creditors often have the right to make the debtor pay their attorney fees, those fees must be reasonable, and in this case they weren’t. Judge Collins agreed, and by objecting to Farm […]
31 December 2019 | 12:27 EST Farm bankruptcies hit nine-year high; impact of higher debt cap remains unclear Chapter 12 family farm bankruptcy filings soared in 2019 to their highest level since 2010 as unusually brutal weather heaped more stress on an agriculture sector already reeling from the trade war with China and multiple years […]
The Commercial Law League of America recently published Joe Peiffer’s article “Thirty-Three Years of Asking “Are We There Yet?”” as one of the title articles in the summer edition of their publication, Commercial Law World. Click the image below to read the article. **As of April 1, 2022 the chapter 12 bankruptcy debt limit has […]
On August 23, 2019 President Trump signed a several bankruptcy law changes. Joe Peiffer recently discussed the changes with ABI Executive Director Sam Gerdano and fellow bankruptcy practitioners Robert Keach, Kristina Stanger, and Don Swanson. Click the image below to read the whole legislative update from the American Bankruptcy Institute.
Joseph Peiffer chats with Doug Cooper about Chapter 12 and raising its debt limit on the Big Show The audio from this conversation is below, as well as the transcript. Doug Cooper:I have been spending some time with Joe Peiffer. He is a bankruptcy lawyer with Ag & Business Legal Strategies, and he has been […]
Doug Cooper: Joe Peiffer is a bankruptcy lawyer with Ag & Business Legal Strategies in Cedar Rapids and Joe, we’ve been talking about a number of things and a couple of things slipped through last congress and didn’t get done. One of those was the debt increase on Chapter 12. What’s the latest? Joe Peiffer: […]