Understand the complexities and nuances of the Bankruptcy Code to better advise clients and prepare for court.
By Daniel Gill
Former major league all-star pitcher Livan Hernandez had his bankruptcy case in Florida dismissed for failure to file a plan for repaying his debts and other paperwork ( In re Eisler Livan Hernandez , Bankr. S.D. Fla., No. 17-18337, Order Dismissing Case 8/16/17 ).
Hernandez earned $55.1 million over his 17 years in the big leagues during which he played for several teams, including the Expos, Giants, Nationals and Mets, according to the Baseball Almanac. Yet he filed a Chapter 13 case on June 30.
Chapter 13 allows those receiving regular income to obtain debt relief while retaining their property. To do so, the debtor must propose a plan that uses future income to repay all or a portion of his debts over a three- to five-year period.
But Hernandez never filed his proposed plan. Nor did he submit detailed schedules of his assets, liabilities and other important financial disclosures required of all debtors in bankruptcy, despite getting two extensions for the filings from the court.
Although it’s not unusual for a case to be dismissed for failure to file required documents, it’s perhaps surprising to see that result in the case of a celebrity.
The dismissal order prohibits another bankruptcy filing for 180 days.
To contact the reporter on this story: Daniel Gill in Washington at firstname.lastname@example.org
To contact the editor responsible for this story: Jay Horowitz at JHorowitz@bna.com
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