Twenty years in, it’s still undecided. We have no uniform rule on what happens to equity in an asset, built up during a Chapter 13 plan, when the case converts to Chapter 7. Amazingly, nearly 20 years after subsection (f) was added to 348, courts are split on how it works. But another court has […]
Brokerage Agreement Boilerplate May Cost Client Their IRA
Talk to Chuck and lose your IRA? That’s the prospect suggested by a recent bankruptcy case from ED TN featured in the ABI Journal this month. In a nutshell, the case held that lien granting language in the standard Merrill Lynch brokerage account agreement was a prohibited transaction with respect to an IRA. Daley, 459 […]
Join Me For A Day Of Online Marketing On December 8, 2012
Once upon a time, a raft of consumer bankruptcy lawyers were lost in Googleland. The landscape was littered with pandas and penguins. No one could find the lawyers; the lawyers couldn’t find clients…. Is that a familiar tale? For some enterprising lawyers, the story will have a happy ending. They will spend a day with […]
The Mystery Of Adequate Protection
Adequate protection in operation seems to stump new bankruptcy lawyers. How does the adequate protection payment relate to the claim as a whole? How do you figure it? Who gets adequate protection? The knottiest question I took at Amelia Island (and the least satisfying answer) came in the Chapter 13 plan class about adequate protection. […]
My Choice of Nuggets From NACBA Workshop
Wrap up from Amelia Island NACBA Workshop Anytime you spend time rubbing shoulders with other committed bankruptcy lawyers, you learn something. Some learning occurs in the presentations. Some on the other hand is the product of what my fellow Californian Jay Fleischman calls hallway magic. Share, trade, question, complain to other bankruptcy attorneys in […]
Bankruptcy Ethics: Candor v. Confidentiality
Crack of dawn from Amelia Island: a crackerjack program on bankruptcy ethics with Judge Thomas Waldron; soon to be judge Cynthia Grimes; and Jill Michaux, Topeka Kansas bankruptcy practitioner. Premise: candor to the tribunal trumps the duty of confidentiality to the client. The rules that apply found in Model Rules Rule 3.3 The lawyer shall […]
Bankruptcy Case Law Update
I can’t type fast enough to summarize Henry Sommer’s comments on the cases, but I’ll list the cases Henry included in the Case Update. Hall v. US, 132 S. Ct. 1882 – do post petition capital gains taxes have priority Johnson v. Zimmer, 686 F.3d 224 household size when debtor has partial custody Flores, 2012 […]
