Conversion to Chapter 7 from Chapter 13 usually comes amid some sort of train wreck. The debtor has defaulted on plan payments, decided to surrender the house, or even got a loan modification that allows him to keep the house. Often, there is pressure to convert the case before it is dismissed. In the bustle, […]
Unfair Loan Modification Practices Rejected By 9th Circuit
Promising a loan modification and failing to deliver, after pocketing trial mod payments, isn’t fair, said the 9th Circuit in Oskoui. And if it isn’t fair, it can be actionable under California’s Unfair Competition Law (B&P 17200). Not to mention constituting a breach of contract. Thus, there do seem to be some limits on […]
Picking Your Chapter 11 Teammates
Professionals in Chapter 11 have to be “disinterested“; make sure they are also capable. You should read this post here if you are keen about taxes. In two recent cases, the estate has employed professionals connected to the debtor in his pre filing past. It’s often the case that accountants and tax preparers come with […]
What Keeps Me Busy
The number of new cases through my doors is down, just like it is everywhere. But I’m staying busy. Busier some days than I would like to be. I thought it might be fun to look at the change in the composition of my cases over the past two years. More complicated cases There […]
When Just-In-Time Is Just Right
Getting things done and off your desk is usually a good modus operandi for an attorney. But sometimes, waiting until the last minute is better. The Required Bankruptcy Courses Since 2005 when the Bankruptcy Code was most recently amended with changes known as the Bankruptcy Abuse Prevention and Consumer Protection Act (“BAPCPA“), debtors filing bankruptcy are required […]
Can You Tell A Lien From A Secured Claim?
The underwater second deed of trust was listed on Schedule F in the debtor’s prior Chapter 13 case as an unsecured claim. Functionally, the lien was without value. But, the debtor, now my client in a subsequent case, took a gentle tongue lashing from a bankruptcy judge about the classification of the claim on the […]
How To Insure The Judgment Isn’t Discharged In Bankruptcy
The settlement agreement, fully executed, provided explicitly that the obligation was not dischargeable in bankruptcy. So how come the successful resolution stood to go up in flames when the defendant filed bankruptcy? Because the terms of the settlement agreement didn’t track the elements of the bankruptcy code’s elements for non dischargeable debts. With agreed facts, […]
