Then there is this; Lessons Soon To Be Learned

Then there is this;

Lessons Soon To Be Learned by the Petitioners

First , do not  file an involuntary bankruptcy petition unless you are certain that standing exists. In assessing standing, keep in mind that a court may scrutinize the merits of a claim that is subject to a bona fide dispute. Attorneys’ fees and costs may be awarded simply if the petition is dismissed without consent. A finding of bad faith is not required before awarding attorneys’ fees and costs.

Second , remember that bankruptcy serves as a collective debt-collection device. Therefore, unless certain that an involuntary case will benefit all creditors as a group, do not file an involuntary bankruptcy petition solely to collect your own legal fees. Also, if an alternate forum exists to resolve fee disputes with a former client, this fact may influence a bankruptcy court's finding of bad faith.

Third , be sure to perform a credit check, judgment search, lien search or similar inquiries against a debtor before filing the petition. The lack of such efforts may contribute to a finding of bad faith. If bad  faith is ultimately found, punitive damages may be awarded even if actual damages do not exist.