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Posted On: 03/08/2025 2:47:00 PM
Post# of 22465
With regards to our ability to write this off as a loss, here is what the Hatward attorney responded to me:
Technically, the Trustee’s final report will be the document that you’ll need to establish that you will not be getting paid back on the loan. However, there are a number of possible secured creditors and very little assets, so you should check with your accountant if you can claim the investment as a loss in your 2024 taxes (which is when the case was filed and converted to chapter 7).
The case was filed as Chapter 7 on Dec 11, 2024 as case # 24-10717-SMR in the US Bankruptcy Court in the Western District of Texas, Austin Division
Technically, the Trustee’s final report will be the document that you’ll need to establish that you will not be getting paid back on the loan. However, there are a number of possible secured creditors and very little assets, so you should check with your accountant if you can claim the investment as a loss in your 2024 taxes (which is when the case was filed and converted to chapter 7).
The case was filed as Chapter 7 on Dec 11, 2024 as case # 24-10717-SMR in the US Bankruptcy Court in the Western District of Texas, Austin Division
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