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Debtor Can't Also Be Creditor In Ch. 13, 7th Circ Rules

By Yun Park ( November 28, 2023, 6:16 PM EST) -- The Seventh Circuit ruled that an Illinois-based business owner cannot seek a more than $300,000 state court judgment against his former business partners in their Chapter 13 bankruptcy petition, holding that the owner and his alter ego company cannot become both the creditor and debtor....

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