Hellesmeer
THE HELLESMEER GROUP LLC | ASSET PROTECTION ADVISORS
Bankruptcy Defense___________
The possibility of being subject to asset forfeiture under the Pennsylvania Crimes Code is something that most citizens
have never dreamed of. The notion that ordinary citizens
of the Commonwealth could be forced to forfeit their bank
accounts and other liquid assets to government agents just
seems inconceivable.
Many Pennsylvania citizens have a real misunderstanding
as to the breadth and reach of the asset forfeiture provisions
in the Uniform Fraudulent Transfer Act (UFTA) and other
criminal statutes. Unfortunately, the perspective that these
statutes are limited only to those convicted of drug-related
crimes applies to a bygone day. In fact, anyone who runs a
small business which transacts substantial cash revenue, or
anyone who faces possible bankruptcy, may be at risk of
having their assets forfeited under Pennsylvania law.
Hellesmeer Gemeinschaft began our Bankruptcy Defense
Program (BDP) shortly after the events of September 11th.
It was around this time that we noticed a statewide expansion
of the Asset Forfeiture and Money Laundering Sections of the Pennsylvania Office of Attorney General.
Many individuals who have been discharged of debt in Federal bankruptcy find themselves back in court in Pennsylvania. You
can be subject to “debtor’s double jeopardy” due to the four-year limitations period in Pennsylvania for fraudulent transfers and concealment of assets. So, regardless if you’ve been ruled to be
bankrupt or not in Federal court, your creditors may still pursue
the forfeiture of your assets under Pennsylvania law for up to
four years after your bankruptcy.
If you and your family are considering filing for bankruptcy, it is imperative that you discuss the safeguarding of your family’s
assets with an asset protection attorney – not a “bankruptcy
lawyer.”
You must do this prior to filing for Federal bankruptcy relief.
An attorney working in our Bankruptcy Defense Program (BDP) has the background in asset protection architecture which can avoid the ten badges of fraud most often resulting in asset forfeiture. We will transfer your case to a bankruptcy attorney only if we are confident that you will continue to control the majority of your assets.
