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About Mark J. Markus- California Bankruptcy Attorney
Expertise
Mark J. Markus is a Los Angeles attorney who has practiced exclusively bankruptcy law in California since 1991 and is rated A+ by the Better Business Bureau. He represents debtors, creditors, and Trustees in Chapter 7, Chapter 11, and Chapter 13 of the bankruptcy code throughout California.


Experience
Visit http://www.bklaw.com for more information on bankruptcy in general and Mark J. Markus in particular. Many questions are answered on the web page (hint, hint).
The Markus webpage also contains more information on
  • business bankruptcy,
  • chapter 7 bankruptcy,
  • chapter 11 bankruptcy,
  • chapter 13 bankruptcy,
  • Frequently Asked Bankruptcy Questions

    Also visit our new bankruptcy blog for interesting articles and much more.



    Education/Credentials
    J.D., University of Arizona 1990. B.A. Economics, California State University, Northridge 1986. For more details please click here

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    You are here:  Experts > Business > Corporate Law > Bankruptcy Law > Chapter 11 Priority Claims

    Bankruptcy Law - Chapter 11 Priority Claims


    Expert: Mark J. Markus- California Bankruptcy Attorney - 10/8/2009

    Question
    I am the owner of a S Corp and was awarded a $20,000 judgement in the state of Virginia against one of my customers (also a corporation based in Maryland)on 08/17/2009.  My customer filed Chapter 11 on 09/28/2009.  Does my judgement qualify as priority?  If so, would this still be the case if the judge did not sign the judgement until 09/28/2009 or later?


    Answer
    The judgment is definitely not a priority claim.  If you converted the judgment into a lien more than 90 days prior to the filing of the bankruptcy case, then you may have a perfected security interest against whatever assets the lien attached to.   IF the judge didn't enter the order on the judgment until after the CH. 11 case was filed, then there is no judgment.

    Either way, it looks like you (your corporation) just has a general unsecured claim for whatever the amount is that is owed to your corporation.

    http://www.bklaw.com/

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