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New Amendments Following Reform of New Bankruptcy Laws

New York State Matrimonial Law

Each state is authorized to define marriage and create a supporting system of laws for the regulation of family relationships. In recent years, Federal lawmakers have attempted to politicize even the definition of marriage itself, and preempt all state laws in reaction to political gain. New York matrimonial laws are subject to preemption as are the laws of all states within the US.

In practice - New York State matrimonial law changes

The effect of potential changes in matrimonial laws upon bankruptcy cases is dramatic. These changes include the value of allowed state bankruptcy exemptions, the disposable income available to creditors in Chapter 13 bankruptcy, and qualification for Chapter 7 bankruptcy using family income for means testing.

The US Bankruptcy Code generously incorporates New York State statutory laws into the administration of Chapter 7 liquidation, Chapter 13 plans, and Chapter 11 reorganization cases. The application of State Law in Federal Court is essential for resolving legal issues pertaining to the ownership of property, debtor and creditor rights, employment law and employee rights, enforcement of judgments, determinations of liability, family obligations, and many more individual rights when dealing with large corporations. Each year, as the State Legislature in Albany enacts new statutes, or amends existing statutes, the ripple effect impacts all New York citizens' rights in Federal Bankruptcy Court.

State and federal court opinions may change the operation of New York State statutory law, and in reaction, impact  the administration of consumer cases filed under Chapter 7 and Chapter 13, especially the scheduled classification of assets and dischargeability of liability. Notice the following recent amendments in bankruptcy procedures:

  • New York City property damage litigation lawyers recently partnered with New York City business dispute lawsuit attorneys in claiming loss of income damages in pending personal injury claims may be offset by of a gay companion living in the same household.
  • A team of New York City business dispute lawsuit lawyers and New York law firm dispute litigation attorneys claim that the continual rise in personal bankruptcy filings will be stemmed by over 50% once means testing becomes mandatory, as a condition of qualification, for Chapter 7 bankruptcy discharge. 
  • Franchise lawyers in New York recently claimed amendments to state law prevent ownership of franchise license may no longer be claimed as an asset because of limitations on transferability.
  • New York City complex litigation lawyers and New York City business litigation lawyers recently attacked New York State motor vehicle laws, claiming, in Chapter 13 bankruptcy, the total of all principal, interest and penalties assessed should be included in the plan, rather than actual vehicle value used in prior Chapter 13 bankruptcy cases.
  • New York City real estate ligitation lawyers frequently claim that retail value, produced by professional sellers, should be used for determination of property value rather than actual liquidation value of proceeds recieved from auction.

Back to New York State Statutory Law information index.

 

Should you need answers to legal questions, contact a local attorney. All information herein is general, and must not be considered as legal advice. The included directory of New York bankruptcy lawyers is intended to assist debtors finding lawyers, local contact information, and help answering attorney fee questions. To find a lawyer, search law firms, and qualify attorneys, the New York State Bar and City Bar Associations and County Bar Associations provide general public assistance. These associations include: Albany, Poughkeepsie, Buffalo, Manhattan, Mount Vernon, Queens, New Rochelle, New York City, Brooklyn, Islip, Rochester, Syracuse, Utica, White Plains, Schenectady, and Yonkers. All content copyright protected - New York Bankruptcy Law Summaries 123, Inc. - ©Copyright 1998 through 2005, all rights reserved.

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