Opinion ID: 1927280
Heading Depth: 1
Heading Rank: 2

Heading: The Bankruptcy

Text: On April 30, 1986, during the pendency of the litigation with Continental Bank, Triffin filed a Chapter 7 bankruptcy petition on behalf of General Funding. Triffin explained that as a result of the Continental Bank litigation, other banks ceased working with him and he was unable to finance General Funding or Great States. On July 1, 1986, the bankruptcy court dismissed the petition for failure to file the required financial schedules. After the dismissal of the bankruptcy petition, Triffin apparently liquidated General Funding's remaining assets and abandoned his offices to their landlord. He paid his personal car loan with the proceeds and walked away from his remaining obligations. Because he was unable to repay a $20,000 loan to General Funding made in 1985 by his mother, he turned Great States over to her. According to Triffin, between the time he filed for bankruptcy and the first RG 303 hearing on November 22, 1994, he made no arrangements with his creditors to repay his debts because he had no income and no business. He also explained that after the business failed, he went to law school and focused exclusively on his studies. Since finishing law school, he has spent most of his time in litigation, attempting to be admitted to the Pennsylvania Bar. When confronted with the fact that his behavior suggested that he lacked a sense of responsibility or obligation toward people who had loaned him money, Triffin replied that he would be able to repay his creditors faster as a member of the bar making a decent salary, than by working at a WaWa. He claims that he intended to repay everyone in full once he had the money. He further claims that Continental Bank refused to allow him to pay the judgment from the anticipated proceeds of a pending legal malpractice claim he initiated against Janssen.