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US Supreme Court on Justice Holmes' 169th B-day Holds in Milavetz that the Bankruptcy Code's Speech Restrictions on Attorneys Do Not Turn Them into Ruthless Drones

Back in the good old days when bashing BAPCPA was in vogue, I posited here that BAPCPA's "debt relief agency" provisions "look more like an effort to create a consumer bankruptcy lawyer clone who, much like the ever-multiplying Agent Smith from The Matrix-Reloaded , speaks and...

Yra Harris on How BAPCPA Has "Flown Back in the Banks' Faces Good and Hard"

With 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 guest commentator on CNBC, and one of the smarter guys...

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...

Fifth Circuit Adopts Literal Reading of Exemption Statute

One of the reforms adopted by BAPCPA was to increase the amount of time a person had to spend in a state before he could take advantage of that state's exemptions. Under 11 U.S.C. Sec. 522(b)(3)(A), a person must live in a state for 730 days to claim that state's exemptions. If the debtor...

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...

National Conference of Bankruptcy Judges--10/14/11--The Long and the Short of It

The Long and Short of It: Financial Engineering Meets Chapter 11 was one of the more esoteric presentations at the conference with an unusual lineup of panelists. The group included New York Bankruptcy Judge James Peck, investment banker David Barse, Professor Edward Janger, Dr. Riz Mokal from the...

Yet Another Hanging Paragraph Creates a Taxing Situation

A pair of new opinions suggests that dischargeability of taxes is even more complicated subsequent to BAPCPA. In Matter of McCoy , No. 11-60146 (5th Cir. 1/4/12), which can be found here [ an enhanced version of this opinion is available to lexis.com subscribers ], the Fifth Circuit found that,...