Articles tagged with: Homebanc Mortgage Corporation

Reports, Articles, Motions, Opinions Concerning HomeBanc Mortgage Corporation Bankruptcy Preferential, Fraudulent Transfer Avoidance Adversary Proceeding Litigation

HomeBanc Mortgage – 386 Bankruptcy Preference Actions – Statute of Limitations Trustee Appointment Extension

The HomeBanc Mortgage Corporation bankruptcy was filed on August 9, 2007, well over 2 years and 5 months ago.  This week 386 bankruptcy preference adversary proceeding complaints were filed by the HomeBanc Mortgage Chapter 7 trustee.  For those who have been lulled into ignorant bliss by the often quoted 2 year statute of limitations for bankruptcy preference actions, the case illustrates that the conversion of a Chapter 11 bankruptcy to Chapter 7 can result in up to a 1 year extension of the statute of limitations – i.e. up to a theoretical maximum of 3 years.