In the January 2015 edition of the ABI Journal, Kathleen Furr and Brett Switzer (hereinafter “the authors”) lauded the decision in In re Rose. In that decision, the court rejected the concept of providing for the vesting of property of a chapter 13 estate in an entity other than the debtor, based solely on state la
Most chapter 7 clients are looking for the quickest and easiest way to discharge their debts, retain or protect their assets and move on with their lives. Difficulties in achieving these results can arise when assets are disclosed or discovered after the bankruptcy filing.
Theoretically, an individual bankruptcy debtor may amend property claimed as exempt on his or her Schedule C at any time until the close of the bankruptcy proceeding. The debtor must give notice of the amendment to the trustee and to “any entity affected thereby,” which is usually all creditors.
Following a nearly-three-year study, on Dec. 8, 2014, the ABI Commission to Study the Reform of Chapter 11 published a 400-page report containing recommendation and principles for policymakers. This article focuses on chapter 11 reform relating to professional retention and compensation.
Editor's Note: David Morris is the senior deputy prosecuting attorney for the Marion County Prosecutor’s Office Child Support Division and an adjunct professor at the Indiana University Robert H. McKinney School of Law.
Hon. Sheri Bluebond sits as chief judge on the U.S. Bankruptcy Court, Central District of California. She is a dynamic figure at most bar events and is revered by colleagues, attorneys and trustees. For example, she recently presented an award at the home of James T. King, a beloved leader of the bankruptcy community, who became bedridden while battling cancer.
Most debtors that are contemplating chapter 7 are on the brink of economic disaster. They have creditors harassing them, calling them nonstop, garnishing wages and income tax returns, and seizing their vehicles to satisfy judgments. These hardworking individuals simply do not have the extra funds to pay a bankruptcy attorney up front in full to file a bankruptcy case to stop the creditors.
A single bankruptcy court may handle hundreds of chapter 13 cases filed each week, and their orderly disposition depends on the finality of confirmed plans. Nevertheless, Congress was aware that chapter 13 debtors frequently encounter turmoil and, less frequently, windfalls in their financial circumstances, rendering modifications o
Editor's Note: David Morris is the Senior Deputy Prosecuting Attorney for the Marion County Prosecutor’s Office Child Support Division and an adjunct professor at Indiana University’s Robert H. McKinney School of Law.
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