[DOWNLOAD] "Matter Emil Stavriotis and Judith Stavriotis" by United States Court of Appeals for the Seventh Circuit " eBook PDF Kindle ePub Free
eBook details
- Title: Matter Emil Stavriotis and Judith Stavriotis
- Author : United States Court of Appeals for the Seventh Circuit
- Release Date : January 23, 1992
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 69 KB
Description
CUMMINGS, Circuit Judge. The question presented in this appeal is whether the bankruptcy court abused its discretion when,
after the bar date for filing claims, it refused the Internal Revenue Service's request to amend a proof of claim. The Internal
Revenue Service had sought to amend its original proof of claim in order to increase the debtors' 1981 tax liability from
$11,132.93 to $2,435,078.39, and in order to add tax liability for 1982, an additional tax year. I. Facts In October 1985, Emil and Judith Stavriotis ("the debtors") filed a voluntary petition for reorganization pursuant
to Chapter 11 of the Bankruptcy Code, 11 U.S.C. § 1101 et seq. The Bankruptcy Court for the Northern District of
Illinois set November 6, 1986, as the deadline, or "bar date," for filing all claims against the debtors' estate. On October
2, 1986, approximately one month prior to the bar date, the IRS filed a timely proof of claim for 1981 and 1984 income taxes
and related penalties in the total amount of $11,132.93. The IRS based its claim amount on the debtors' amended tax returns
rather than an independent audit or assessment.