Bankruptcy Mastery - Page 2 of 37 - Becoming a better bankruptcy lawyer

Sole Proprietorships In Chapter 7 In Trustee’s Cross Hairs

By Cathy Moran, Esq. Filed Under: Business bankruptcy

Why would a Chapter 7 trustee shut down a proprietorship business with no value? That question comes up again and again from newish bankruptcy lawyers who can't imagine that a trustee would demand the closing of the debtor's business. After all, goes the argument, the debtor needs to make a living and the business has no non-exempt value. The trustee's insistance on closing the … [Continue reading...]

Assessing the Ailing Business Post Pandemic

By Cathy Moran, Esq. Filed Under: Business bankruptcy

Long after the human patients recover from the coronavirus, small businesses will still be ailing. And long nights will be spent deciding whether to try to stay in business. As bankruptcy lawyers, we're going to see people in pain trying to assess what to do next. Business owners may see the exit heading through the bankruptcy courts, but that may be neither necessary nor wise. Here's my list … [Continue reading...]

Objection: Hearsay

By Wayne Silver Filed Under: lawyer skills

There you are, client on the witness stand, jury in the box, story being told on direct exactly the way you prepared her, things going just swimmingly. And then opposing counsel stands and utters those two lovely words…”Objection, hearsay.” Huh? That’s ridiculous, you confidently think to yourself, just as you hear the trial judge say, sustained!. Diving into Evidence Code … [Continue reading...]

Taxing Questions in Bankruptcy’s New Subchapter V

By Steven Walker Filed Under: Bankruptcy Practice, Tax

With the enactment of the Small Business Reorganization Act, Chapter 11 is expected to become more accessible and economic for business debtors with debts below the limits. For bankruptcy lawyers taking their first venture into Chapter 11, knowledge of the tax issues in reorganizations becomes critical. So, I'm happy to have attorney Steven Walker of San Jose, California, guide us through the … [Continue reading...]

Analyzing The Troubled Chapter 13: 20,000 Questions Under The Surface Of The Case

By Cathy Moran, Esq. Filed Under: Chapter 13

After the pandemic, when the economy lurches back into motion, bankruptcy lawyers will confront a clutch of troubled Chapter 13 cases. In the face of disruption, distress, and the unknown, we'll be called on to guide clients forward, in one direction or another. Let's review the questions we'll need to answer in order to provide the sharpest analysis for clients. We'll need our arms … [Continue reading...]

Coronavirus & The Law

By Cathy Moran, Esq. Filed Under: Bankruptcy Practice, Breaking

In the face of pandemic and economic stasis, information is both vital and fleeting. I'm going to collect here links to sources of information useful to consumer lawyers as I find them. As always, check the dates on the linked resources, as I fully expect change, and more change as we work our way through this crisis. General legal resources ABA Covid-19 articles and resources- no … [Continue reading...]

Mortgage Matters In Times Of COVID-19

By Bob Schuman Filed Under: Bankruptcy Practice

Is it 2008 again? For us in the mortgage industry, we woke up this week feeling as if during the night, we were transported back to 2008 when the mortgage industry basically collapsed. Then, Fannie Mae, Freddie Mac, and the FHA were the exceptions. As of March 25, 2020, like everything else, the world of mortgage lending has been once again been turned on its head. Here we are again, … [Continue reading...]

Charting The Course of A Case

By Cathy Moran, Esq. Filed Under: Before filing, Start Here

Planning the bankruptcy often determines whether the case succeeds or fails. To obtain good results for a bankruptcy client, sometimes you have to serve up unpleasant news and force the client to swallow that bitter pill. Hum a chorus of You Can't Always Get What You Want. Of course, you can't really force them to do anything, but you should reconsider taking on a client who shrugs off your … [Continue reading...]

Black Decision Sheds Light On Vesting Questions

By Cathy Moran, Esq. Filed Under: Bankruptcy Practice

Clouds of uncertainty have hovered over Chapter 13 debtors who find that they need to sell appreciated property before the case is over. Does appreciation occurring after filing go to creditors on the theory that the appreciation is property of the estate? Or does the vesting of property at confirmation entitle the debtor to any post petition appreciation? With the 9th Circuit BAP's … [Continue reading...]

Taxes & Timing: Calculating Outcomes for Bankruptcy Debtors

By Cathy Moran, Esq. Filed Under: Tax

Bankruptcy lawyers regularly evaluate the dischargeability of taxes when deciding when to file a client's bankruptcy case. At base, the 3 year rule, the 2 year rule, and the 240 day rule routinely drive timing of a bankruptcy. But as we approach the end of the tax year, a client’s current year tax situation becomes another moving part in the “when do we file” analysis, unrelated to tax … [Continue reading...]

First Principles For First Meetings

By Cathy Moran, Esq. Filed Under: Bankruptcy Practice

Once again, I sat in a 341 meeting where the trustee purported to deliver vital information to the assembled debtors. She had a captive audience of anxious listeners. She had ostensible power of life and death over their financial future. They needed to know what she had to say. But as communication, it failed. Badly. For utterly avoidable reasons. The delivery was rushed, mumbled, … [Continue reading...]

PACE Loans- New Subprime Debts

By Cathy Moran, Esq. Filed Under: Bankruptcy Practice

Presentation November 2017 NCLC Consumer Litigation Conference 1 NCLC PACE Presentation final … [Continue reading...]

When Worlds of Bankruptcy & Family Law Collide

By Cathy Moran, Esq. Filed Under: Family Law in Bankruptcy

Bankruptcy, actual or threatened, can cause a genuine disruption in the force when divorce is on the table. That collision can be liberating or disruptive, depending on the timing of a bankruptcy filing and the goals of your client. Because the fallout from a bankruptcy case can be overwhelming, family lawyers need a working knowledge of how federal bankruptcy law can impact the financial … [Continue reading...]