The Diocese of Milwaukee filed a petition for chapter 11
relief on January 4, 2011 after twenty years of dealing with sexual abuse
claims and an unfavorable ruling on its insurance coverage. In re Diocese of
Milwaukee , Case No. 11-20059 (Bankr. E...
In a case where private enterprise meets governmental
finance, the Fifth Circuit has ruled that purchasers of Texas tax liens are
protected from having their contractual interest rates modified in a plan. Tax
Ease Funding, LP v. Thompson , et al, No...
On this edition, Henry Sommer, Co-Editor-in-Chief of Collier on Bankruptcy and the LexisNexis Matthew Bender Collier line of bankruptcy publications, discusses the U.S. Supreme Court's June 7, 2010 decision in Hamilton v. Lanning in which the court...
The life of an appellate court judge is largely occupied by consideration of criminal appeals and prisoner petitions. In FY2012, these cases made up 64% of the Fifth Circuit's docket. (By contrast, bankruptcy appeals made up only 1.7% of cases docketed...
By Evan Zisholtz
In a 6-3 ruling, the U.S. Supreme Court held that bankruptcy courts have the authority to adjudicate Stern claims so long as the litigant parties provide “knowing and voluntary consent.” This decision in Wellness International...
Way back in 1986, Judge A. Jay Cristol denied his own sua
sponte motion to dismiss a chapter 7 bankruptcy case in verse. In re
Love , 61 B.R. 558 (Bankr. S.D. Fl. 1986). Some 20 years later, he penned
another poetic opinion, this time finding that...
The summer months have been slow at the Fifth Circuit. August and September's opinions include an update on a prior opinion about abstention related to a chapter 15, judicial estoppel, mootness of an appeal of a sale order, a motion to compromise...
In an interesting ruling that has more to do with trust
law than bankruptcy, the Fifth Circuit has ruled that a bankruptcy court
incorrectly held that a trust was not property of the estate. Roberts v.
McConnell , No. 10-50462 (5th Cir. 6/15/11) ....
WASHINGTON, D.C. — (Mealey’s) The U.S. Supreme Court today said it would not hear a case in which Bank of America had argued that the high court needed to resolve a split at the federal appellate level dealing with whether a Chapter 7 debtor...
by Teresa M. Harkins La Vita
A CA federal bankruptcy court
in In re: Balas and Morales became the first since the DOJ's announcement that
it would no longer defend the Defense of Marriage Act to rule on the
constitutionality of DOMA. The bankruptcy...
by Leslie Treff
Although the trend among courts
is to exempt inherited IRAs from property of a debtor's estate, districts are
divided on this issue. This commentary reviews the state of the law on the
exemption of inherited IRAs under Section...
Bernard Madoff's bankruptcy trustee secures a nearly $500 million
feeder-fund bank settlement, and, the SEC reaches a $137 million
settlement with a Banc of America subsidiary in a municipal bond
investigation. Hear these and other stories from...
Here is a link to a very interesting article on an
ethical conundrum faced by many bankruptcy lawyers. It is
written by Gregory Duhl, who is a law professor from William Mitchell
Section 524 of the
Bankruptcy Code divides...
Can different but related account holders offset losses in one account against gains in another account? Can a husband and wife with separate accounts offset losses in one account against gains in the other? When there is a family trust, can the trustee...
Nearly nine months after it filed
for protection under Chapter 9 of the Bankruptcy Code , a federal bankruptcy
judge last week determined that the
city of Stockton, California has satisfied the requirements of Section 109(c)
of the Bankruptcy Code...
Welcome to a new feature of A Texas Bankruptcy Lawyer's Blog. This will be the first in a series of profiles on the bankruptcy judges in Texas, beginning with H. Christopher Mott.
On September 20, 2010, H. Christopher Mott became Texas's newest...
Attorneys are entrusted with a lot of sensitive
information. The attorney-client privilege exists to allow clients to speak
candidly with their attorneys. However, when the same attorney represents
multiple parties, the privilege may not be so absolute...
little fanfare, Yra Harris, a veteran trader of Chicago's pits, started
blogging his Notes From the
Underground last December. I learned about it last month from a
good friend of his, and strongly recommend it to you. Yra is a frequent
A recently released iPhone and iPad app designed for bankruptcy lawyers, Bankruptcy II , describes itself as a "complete reference for the working bankruptcy attorney." It is an overstatement to call it complete, because it does not have cases...
Aside from the issues of a potential violation of the
Constitution, the costs, and the effect on the state's municipal bonds, and the
question of who in a state could declare bankruptcy for the state, a state
filing for bankruptcy should raise...
"The Debtors’ operations constituted a massive Ponzi /pyramid scheme."
- Court appointed trustee Stephen B. Darr
The court-appointed Bankruptcy trustee responsible for marshaling assets for victims of the massive alleged $3 billion...
Here is an article which predicts that 2011 will be
a banner year...for foreclosures. "'Early indications in January were that
this robo-signing related delay will be over by the end of first quarter if not
sooner,' says RealtyTrac's...
What is it with alleged Ponzi scheme perpetrators these
days? They seem to have a heightened sensitivity to the use of the words "Ponzi
scheme." In 2012, two cases were decided against two governmental agencies -
the SEC and the IRS-in connection...
In late September, Philadelphia Mayor Michael Nutter and
a small group of other big-city mayors met with reporters at the National Press
Club in Washington D.C. to enlist them in a campaign to pressure Congress to
Troutman Sanders CFPB Team
In what has become one of the CFPB's signature regulatory
initiatives - "Know Before You Owe" - the CFPB announced on July 28, 2011
that it would be conducting its third round of public commenting and...