Excerpt from Title 11 of US Code
Back
TITLE 11 CHAPTER 1 § 109
Who may be a debtor under chapter 7?
Notwithstanding any other provision of this section, only a person that resides or has a domicile, a place of business, or property in the United States, or a municipality, may be a debtor under this title.

A person may be a debtor under chapter 7 of this title only if such person is not
(1) A railroad;
(2) A domestic insurance company, bank, savings bank, cooperative bank, savings and loan association, building and loan association, homestead association, a New Markets Venture Capital company as defined in section 351 of the Small Business Investment Act of 1958, a small business investment company licensed by the Small Business Administration under section 301 of the Small Business Investment Act of 1958, credit union, or industrial bank or similar institution which is an insured bank as defined in section 3(h) of the Federal Deposit Insurance Act, except that an uninsured State member bank, or a corporation organized under section 25A of the Federal Reserve Act, which operates, or operates as, a multilateral clearing organization pursuant to section 409 of the Federal Deposit Insurance Corporation Improvement Act of 1991 may be a debtor if a petition is filed at the direction of the Board of Governors of the Federal Reserve System; or …………….

The court was completely misled by many attorneys' lies. I wrote and published a book about these attorneys in 2018. I tried to get law professors to use my book for case studies about ethical issues. As of May 2019, I had no buyers. Perhaps my book will just be a memoir for ancestors.

The false bankruptcy petition filing I claimed was denied when I tried to present such a fact to the court. Even the bankruptcy trustee of the state would not help me get the court to apply this misrepresentation in the bankruptcy filing case. The debtor's company did not do factoring which means you are a company that buys outstanding accounts receivable at a discounted amount and try to collect those debts.

The company actually issued high interest promissory notes to investors who were supposedly financing the purchase of used computer equipment for resale to third world companies. This was the PONZI they were pulling on their investors. No equipment was being bought and sold at all.

Here we had a company issuing investment notes as an unregistered investment company that was not properly licensed. They were also falsely claiming to be a factoring company in their bankruptcy filing. I can only speculate that the court ignored Title 11 of the US Code because there was no license issued by the Small Business Administration.

Unfortunately two lawyers that we paid to help Polly and me were annoyed with me when I tried to explain the above facts about the company's bankruptcy filing. Three lawyers never seemed to know enough to apply Title 11 to this case. We were poorly represented and charged a lot of money by four lawyers that we used. One lawyer did not even take the time to properly understand the kind of debt that we wanted help in recovering. He was annoyed when I was able to directly recover the $25,000 we were owed from a lawyer assigned as the trustee of the bankrupt company. He felt slighted that he was not involved. I did recover the $25,000 without his help.
©2002 Sales and People