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Continue Business to Protect Gains Triggered in Chapter 12 Bankruptcy from Tax

Absent definitive decisions in the applicable Circuit, bankruptcy chapter 12 debtors should consider pursuing a strategy of partial liquidation, paying available proceeds to secured lenders, and then utilizing the bankruptcy to deal with the taxes that typically accompany liquidation. But they should...

U.S. High Court Hears Arguments On Vehicle Ownership Deduction Costs In Bankruptcy

WASHINGTON, D.C. -- A debtor who contends that the Bankruptcy Code provides for a deduction of vehicle ownership costs regardless of whether the debtor owns a vehicle and a creditor who objects to that deduction presented their arguments at the U.S. Supreme Court on Oct. 4, with both insisting that the...

Unhappily Ever After: Family Law Issues in Bankruptcy

This paper was originally presented to the West Texas Bankruptcy Institute on October 29, 2010. Love and marriage, Love and marriage Go together Like a horse and carriage This I tell you brother You can't have one without the other --Frank Sinatra While love and marriage may go...

Lawyers as "Debt Relief Agencies" under the Bankruptcy Abuse Prevention and Consumer Protection Act: A Review of Milavetz, Gallop & Milavetz v. U.S.

Professor Eli Wald examines the Supreme Court's decision on whether attorneys are "debt relief agencies" pursuant to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), and if so, whether BAPCPA's provisions regarding advice to clients and requiring certain...

U.S. High Court Rejects Case Involving Bifurcation Of Auto Loan Debt In Bankruptcy

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Oct. 3 declined to hear a case in which a lender argued that a debtor should not be permitted to bifurcate a secured creditor's claim regarding an automobile finance transaction in which the dealer extended financing to include an advance...