Q: How often can bk be filed? Gen Part of LP filed Chap 7, five years later the LP files Chap 11, what's next & when?
A General Partner (GP) of a CA Limited Partnership (LP) filed for personal bk, Chap 7, and the LP was listed as a co-debtor. All claims discharged including many from the LP. Fast forward five years, the LP is now in Chapter 11, with the GP threatening to also file bk personally once more. How does this work? If the LP makes a repayment plan that's confirmed and later the LP defaults, can GP then file personal bk again and get out of paying the debts that were going to be repaid in the plan?
A: A second chapter 7 case can be filed 8 years after the filing date of the prior case in which a discharge was granted, but no sooner. If the debts that the LP included in the chapter 11 were listed as creditors in the GP prior bankruptcy, then all of that debt has already been discharged as to the GP and there is no need for another chapter 7 case.
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