RSSBankruptcy fees
Jan 09
Client is about to file a bk7. He gets a nominal royalty from marathon oil company of about $120 bucks per quarter. No biggie. It won’t affect his decision to file, but he has not idea if the interest is assignable or if it ever expires. I’m thinking most royalties are probably assignable and somewhere out there, someone would probably pay a few bucks to get the $120 per quarter and thus, we may risk forfeiture upon filing. Bankruptcy Code prohibits fee splitting. Calif Law says can. Conditions (off the top of my head): client consent, reasonable, etc. So it it’s a state court case, then it’s possible. But if it’s a bankruptcy case, no can do.
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