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DMX’s bankruptcy petition tossed

Posted on Sunday, November 17th, 2013 at 10:51 pm    

The Chapter 11 bankruptcy case for rap artist DMX was dismissed by a federal judge on Friday, November 8 on a request of a U.S. Trustee. According to reports, Bankruptcy Court Judge Robert Drain dismissed the bankruptcy case of the 42-year-old rapper as requested by U.S. Trustee Tracy Hope Davis after he was cited for legal non-compliance.

DMX, whose real name is Earl Simmons, has a debt of $1.8 million, a large part of which is child support owed for his children. DMX was also barred from filing for bankruptcy for one year and six months.

Facing troubles with your bankruptcy filing can be stressful and frustrating. In order to make sure you are properly following all the steps and necessary regulations when filing for bankruptcy in Houston, speak with a lawyer from the Russell Van Beustring P.C. We can help you through this process when you call 713-973-6650.

Lenny Dykstra guilty of bankruptcy fraud

Posted on Monday, July 2nd, 2012 at 8:48 pm    

Former outfielder for the New York Mets, Lenny Dykstra, has pleaded guilty to three charges of bankruptcy fraud in Los Angeles. Dykstra was accused of not disclosing all of his assets during his 2009 filing.

The former baseball player could possibly face up to 20 years behind bars for money laundering, bankruptcy fraud, and concealment of assets. In his bankruptcy application, he listed $31 million in liabilities and only $50,000 in assets. However, prosecutors say he illegally sold, hid, or destroyed $400,000 worth of property.

The Sacramento Bee reports that Dykstra was also accused of lying while under oath about what he did with his assets. He is currently in prison for grand theft auto, providing a false financial statement, and indecent exposure.

Filing for bankruptcy can be confusing, making it easy to make mistakes. To ensure mistakes don’t lead to fraud charges, contact the bankruptcy attorneys at the Law Office of Russell Van Beustring, P.C. today at 713-973-6650 to schedule a consultation.

Residential Capital’s bankruptcy investigated

Posted on Monday, June 18th, 2012 at 8:14 pm    

An examiner has been appointed to investigate Residential Capital LLC’s bankruptcy filing under allegations that its pre-bankruptcy transactions with Ally, a company that may buy up ResCap’s assets, were improper.

A bankruptcy examiner, who is usually a bankruptcy lawyer, is typically appointed in cases where fraud, mismanagement, incompetence, and dishonesty are suspected.¬†Warren Buffett’s Berkshire Hathaway Inc. supported an investigation. Berkshire owns most of ResCap’s debt.

Reuters reports that unsecured creditors and ResCap’s lawyers are against the appointment of a examiner, claiming there is already an investigation underway with its creditor committee. They fear an additional investigation will slow down its reorganization plan.

If you are wondering if your business’s debts are eligible for discharge, contact the legal experts at the Law Office of Russell Van Beustring, P.C. at 713-973-6650.

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