Red & Black: Bankruptcy and Class Actions
|
|
- Anne Grant
- 8 years ago
- Views:
Transcription
1 Red & Black: Bankruptcy and Class Actions Presented by: Donna L. Culver Morris Nichols, Arsht & Tunnell LLP Marcy Hogan Greer Alexander Dubose Jefferson & Townsend LLP March 11, 2015
2 UPPO Presentation Disclaimer Use of the Unclaimed Property Professionals Organization, Inc., (UPPO) name of copyrighted materials in this presentation does not constitute an endorsement by UPPO of a member, vendor, product or service. The content represents the opinions of the author and not necessarily those of UPPO. This information is not intended as legal advice and should not be used to replace the advice of legal counsel. 2
3 UPPO Antitrust Statement UPPO has a policy of strict compliance with U.S. federal antitrust laws. UPPO members and/or meeting attendees cannot come to understandings, make agreements, or otherwise concur on positions or understandings, make agreements, or otherwise concur on positions or activities that in any way tend to raise, lower or stabilize prices or fees. Members and/or attendees can discuss pricing models, methods, systems, and applications, as well as certain cost matters that do not lead to an agreement or consensus on prices or fees to be charged. However, there can be no discussion as to what constitutes a reasonable, fair or appropriate price or fee to charge for any service or product. Information may be presented with regard to historical pricing activities so long as such information is general in nature and does not include data on current prices or fees being charged in any trade area. Any discussion of current or future prices, fees, discounting, and other terms and conditions of sale, which may lead to an agreement or consensus on prices or fees to be charged, is strictly prohibited. 3
4 Today s Agenda The Intersection of Bankruptcy and Unclaimed Property Law The Bankruptcy Process Types of Bankruptcy Cases Claims Bar Date Distributions and Discharge Bankruptcy Preemption of State Unclaimed Property Law Pre-Petition vs. Post-Petition Liabilities Unclaimed Distributions 4
5 Today s Agenda (cont.) The Intersection of Class Actions and Unclaimed Property Law Introduction to Class-Action Settlements History of the Doctrine of Cy Pres Recent Cases Defining the Boundaries of Permissible Cy Pres Awards 5
6 The Bankruptcy Process Commenced by filing a petition under title 11 of the United States Code (the Bankruptcy Code ). Court supervised process to marshal assets for distribution to creditors with claims in accordance with priority scheme established under the Bankruptcy Code. Fundamental Concepts: Breathing spell Equality of treatment for similarly situated creditors 6
7 The Bankruptcy Process Types of Bankruptcy Cases Chapter 7 Liquidation Court appointed trustee liquidates the debtor s non-exempt assets and makes distributions to creditors. Chapter 11 Reorganization (Business) Creates a debtor in possession which continues to own, manage and operate the business while working with creditors to negotiate and confirm a plan of reorganization. Chapter 13 Reorganization (Personal) Personal reorganization administered by a trustee which enables an individual with regular income to consolidate debt and pay it back over time. 7
8 The Bankruptcy Process Claims Bar Date Filing of a bankruptcy petition creates a stay of any collection activity against the debtor. The claims bar date is the deadline established for the filing of claims against the debtor s estate. Varies by chapter: Chapter 7, 12, 13 Automatic 90 days after 341 meeting. Chapter 9, 11 Bar date set by court order. Governmental creditors get no less than 180 days from the order for relief. 8
9 The Bankruptcy Process Distributions and Discharge Chapter 7 Cases Distributions made when the case is fully administered (often many years). Corporate debtor does not receive a discharge. Chapter 11 Cases Distributions made pursuant to a plan of reorganization confirmed by the Bankruptcy Court. Except for corporations liquidating in chapter 11 (which cease to exist), the debtor typically receives a discharge of liability. Chapter 13 Distributions made pursuant to a plan by a chapter 13 trustee who receives payments from the debtor in accordance with an agreed schedule. Individual typically receives a discharge. 9
10 Bankruptcy Preemption of State Unclaimed Property Law Pre-Petition vs. Post-Petition Liabilities State of Arkansas v. Federated Department Stores, Inc., 175 B.R. 924 (S.D. Ohio 1992) States claims to a debtor s unclaimed property are not automatically preempted by federal bankruptcy law. Noting that Congress has generally left the determination of property rights and the assets of a bankrupt s estate to state law, the Court held that states unclaimed property laws did not interfere with the operation of bankruptcy or reorganization proceedings, or thwart any significant purposes of the Bankruptcy Code. 10
11 Bankruptcy Preemption of State Unclaimed Property Law Pre-Petition vs. Post-Petition Liabilities In re Drexel Burnham Lambert Groups, Inc.,151 B.R. 684 (S.D.N.Y. 1993); In re Continental Airlines, 161 B.R. 101 (Bankr. Del. 1993) Where a debtor fails to report and deliver possession of property as to which the dormancy period has run pre-petition, the state acquires a prepetition claim against the debtor. States claims for property as to which the dormancy period runs post-petition are preempted by the Bankruptcy Code. 11
12 Bankruptcy Preemption of State Unclaimed Property Law Pre-Petition vs. Post-Petition Liabilities Cases Under Chapter 7 and 13: 11 U.S.C. 347(a) Ninety days after the final distribution under section 726, 1226 or 1326 of this title in a case under Chapter 7, 12, or 13 of this title, as the case may be, the trustee shall stop payment on any check remaining unpaid, and any remaining property of the estate shall be paid into the court and disposed of under Chapter 129 of title
13 Bankruptcy Preemption of State Unclaimed Property Law Pre-Petition vs. Post-Petition Liabilities Cases Under Chapter 7 and 13: 28 U.S.C Unclaimed distributions deposited with the Treasurer of the United States, or a designated depository, in the name of the Court. Owner may request payment for a period of five years after which time such funds are deposited into the United States Treasury to the credit of the United States. 28 U.S.C Establishes a procedure whereby an owner of property paid into the Treasury as to which the five year period has expired may petition the Court for an order directing payment to the owner.
14 Bankruptcy Preemption of State Unclaimed Property Law Pre-Petition vs. Post-Petition Liabilities Cases Under Chapter 11: 11 U.S.C. 347(b) Any security, money or other property remaining unclaimed at the expiration of the time allowed in any case under Chapter 9, 11, or 12 of this title for the presentation of a security or the performance of any other act as a condition to participation in the distribution under any plan confirmed under section 943(b), 1129, 1173 or 1225 of this title, as the case may be, becomes the property of the debtor or of the entity acquiring the assets of the debtor under the plan, as the case may be. Subject to modification by the reorganization plan. 14
15 The Intersection of Bankruptcy and Unclaimed Property Law Takeaway: A bankruptcy filing may altogether eliminate unclaimed property liability for any property types as to which the dormancy period has run as of the petition date if a state has failed to file a proof of claim by the applicable bar date. Caveats: Pass-through or 100 cent plans with no bar date. Publication notice of claims bar dates and/or hearing on plan confirmation may give rise to challenges by creditors who fail to receive actual notice. 15
16 The Intersection of Class Actions and Unclaimed Property Law Introduction to Class Action Settlements Procedural Framework Court Appointment of Class Counsel Notice/Opportunity to Opt Out Preclusion Issues Role of Judicial Approval Compensation/Remedies for the Class Residue 16
17 The Intersection of Class Actions and Unclaimed Property Law History of the Doctrine of Cy Pres French term meaning as close as possible Historically used to prevent failure of a trust Has been used in class action settlements for decades now Important tool in the Settlement Toolkit 17
18 The Intersection of Class Actions and Unclaimed Property Law What s at Stake? $200 million: In re Holocaust Victim Assets Litig., 424 F.3d 132 (2d Cir. 2005) $18.5 million (vacated): In re Baby Prods. Antitrust Litig., 708 F.3d 163 (3d Cir. 2013) $11.4 million: In re Lupron Mktg. & Sales Practices Litig., 677 F.3d 21 (1st Cir. 2012) $10.2 million: In re Lease Oil Antitrust Litig., 570 F.3d 244 (5th Cir. 2009) 18
19 The Intersection of Class Actions and Unclaimed Property Law Recent Cases Involving Unclaimed Property Challenges to Cy Pres Awards Highland Homes, Ltd. v. Texas, 448 S.W.3d 403 (Tex. 2014) Klier v. Elf Atochem N. Am., Inc., 658 F.3d 468 (5th Cir. 2011) All Plaintiffs v. All Defendants, 645 F.3d 329 (5th Cir. 2011) (Lease Oil) 19
20 The Intersection of Class Actions and Unclaimed Property Law Proper Use of Cy Pres Awards No Property Right Can Be Created: Claimants who do not meet the eligibility requirements to be Settlement Class Members have no right to or interest in any relief from [the settling defendant] under the terms of the Settlement Agreement.... ALI characterizes as when direct distributions to class members are not feasible due to inability to identify class members or size of awards 20
21 Special Challenges for Cy Pres Awards Must Be Appropriate: Marek v. Lane, U.S., 134 S. Ct. 8 (2013) (Roberts, C.J., statement respecting denial of certiorari) Who Decides? Nexus Requirement Overall Fairness 21
22 The Intersection of Class Actions and Unclaimed Property Law Resources/Practice Tools Federal Judicial Center: Manual for Complex Litigation (Fourth) e/mcl4.pdf American Law Institute: Principles of the Law of Aggregate Litigation American Bar Association: A Practitioner s Guide to Class Actions 22
23 Speakers Donna L. Culver Partner Morris Nichols, Arsht & Tunnell LLP Donna is a business reorganization and commercial litigation partner, with more than 20 years experience in state and federal court. She regularly represents corporate clients in bankruptcy and business litigation matters, and in administrative, regulatory and government proceedings, including unclaimed property (escheat) audits and voluntary disclosure agreements. Donna s bankruptcy litigation experience includes the representation of corporate debtors, creditors and litigation trusts in a variety of commercial disputes, including preference and fraudulent transfer litigation and contested claims matters. She also has substantial experience litigating breach contract and fiduciary duty claims in state and federal court and in alternative dispute resolution proceedings, including mediation and arbitration. She can be reached at (302) or dculver@mnat.com. 23
24 Speakers Marcy Hogan Greer Partner Alexander Dubose Jefferson & Townsend LLP Marcy Hogan Greer is recognized for her work in federal and state trial and appellate courts throughout the country. She has handled class actions, mass torts, and multidistrict litigation of all types and served as the National Editor for the American Bar s best-selling book, A Practitioner s Guide to Class Actions (2010), including its 2012 supplement. She has also handled litigation strategy and appellate proceedings in complex commercial matters involving patents, trademarks, and copyrights, administrative agency challenges, health care (provision and payment), employment disputes, insurance, oil and gas, real estate, and utilities. Marcy is listed in Best Lawyers in America in appellate, bet-the-company litigation, and commercial litigation and was selected as the Austin Bet-the Company Litigation Lawyer of the Year by that organization. She has been included in Texas Super Lawyers for her appellate work every year since its inaugural list and was listed in the Top 100 for several years. She can be reached at (512) or mgreer@adjtlaw.com. 24
The Other Estate : A Primer On Bankruptcy for Non-Profits Lawrence G. McMichael Catherine G. Pappas Dilworth Paxson, LLP Philadelphia, PA
The Other Estate : A Primer On Bankruptcy for Non-Profits Lawrence G. McMichael Catherine G. Pappas Dilworth Paxson, LLP Philadelphia, PA A. Eligibility (1) The Bankruptcy Code sets forth certain eligibility
More informationCase 12-11661-KJC Doc 4624 Filed 06/29/16 Page 1 of 7
Case 12-11661-KJC Doc 4624 Filed 06/29/16 Page 1 of 7 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE ------------------------------------------------------x In re : Chapter 11 : WP
More informationHow To Find Out If A Bankruptcy Attorney Is Disinterested
Case 13-04639-8-RDD Doc 68 Filed 11/04/13 Entered 11/04/13 16:14:55 Page 1 of 7 SO ORDERED. SIGNED this 4 day of November, 2013. Randy D. Doub United States Bankruptcy Judge IN THE UNITED STATES BANKRUPTCY
More informationBANKRUPTCY TERMINOLOGY
ADVERSARY PROCEEDING BANKRUPTCY TERMINOLOGY A lawsuit arising in or related to a bankruptcy case that is commenced by filing a complaint with the bankruptcy court. ASSUME An agreement to continue performing
More informationBankruptcy And Property Of The Estate - An Overview
IMPACT OF BANKRUPTCY ON DOMESTIC RELATIONS CASES Honorable K. Rodney May United States Bankruptcy Judge Tampa, Florida September 2012 1. Bankruptcy -- Overview. A bankruptcy case begins with the filing
More informationCHAPTER 7 BANKRUPTCY I. REVIEW DEBT RELIEF AGENCY DISCLOSURE REQUIREMENTS AND RESTRICTIONS
CHAPTER 7 BANKRUPTCY I. REVIEW DEBT RELIEF AGENCY DISCLOSURE REQUIREMENTS AND RESTRICTIONS Title 11 U.S.C. 526, 527, and 528 of the Bankruptcy Code were added by the Bankruptcy Abuse Prevention and Consumer
More informationHow To File A Trust Deed In The United States
5 THINGS EVERY LAWYER SHOULD KNOW ABOUT BANKRUPTCY Laura A. Deeter, Esq. Five Things 1. What do the different BK chapters mean? 2. Do I need to file a Proof of Claim? 3. What does the BK Trustee do? 4.
More informationBankruptcy Filing and Federal Employment Taxes. Bad investments, too great an assumption of risk, circumstances beyond their control.
I. What causes someone to file for bankruptcy? Bad investments, too great an assumption of risk, circumstances beyond their control. II. The options A. Individuals Chapter 7, Chapter 11, i Chapter 13 B.
More informationadversary proceeding - A lawsuit arising in or related to a bankruptcy case that is commenced by filing a complaint with the court.
Terminology adversary proceeding - A lawsuit arising in or related to a bankruptcy case that is commenced by filing a complaint with the court. assume - An agreement to continue performing duties under
More informationThomas M. Gore McCorkle & Johnson, LLP Savannah, Georgia 912-232-6000. Table of Contents. I. Overview of Creditor s Rights...1
PROTECTING CREDITORS IN BANKRUPTCY Thomas M. Gore McCorkle & Johnson, LLP Savannah, Georgia 912-232-6000 Table of Contents I. Overview of Creditor s Rights...1 A. Overview of Chapters 7, 11, and 13...1
More informationUnited States Bankruptcy Court District of
B25B (Official Form 25B) (12/08) United States Bankruptcy Court District of In re, Case No. Debtor Small Business Case under Chapter 11 [NAME OF PLAN PROPONENT] S DISCLOSURE STATEMENT, DATED [INSERT DATE]
More informationBANKRUPTCY LAW MANUAL
BANKRUPTCY LAW MANUAL FIFTH EDITION THE HONORABLE NANCY C. DREHER CHIEF UNITED STATES BANKRUPTCY JUDGE, DISTRICT OF MINNESOTA MEMBER, UNITED STATES EIGHTH CIRCUIT BANKRUPTCY APPELLATE PANEL (1997-2005)
More informationEXHIBIT 5 1 Flow Chart for Chapter 7
EXHIBIT 5 1 Flow Chart for Chapter 7 The Filing of the Chapter 7 Petition Within 180 days of filing a Chapter 7 petition, an individual debtor must be briefed (including by telephone and on the Internet)
More information13-22840-rdd Doc 402 Filed 10/25/13 Entered 10/25/13 16:17:31 Main Document Pg 1 of 10. (Jointly Administered)
Pg 1 of 10 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK -----------------------------------------------------------x In re: SOUND SHORE MEDICAL CENTER OF WESTCHESTER, et al., 1 Debtors.
More informationWHAT EVERY ATTORNEY NEEDS TO KNOW ABOUT BANKRUPTCY
WHAT EVERY ATTORNEY NEEDS TO KNOW ABOUT BANKRUPTCY 6 Nevada Lawyer March 2014 Where to Look BY CANDACE C. CARLYON, ESQ. AND ADAM BOWLER, ESQ. A great starting point in a search for bankruptcy information
More informationORDERED in the Southern District of Florida on November 17, 2011.
Case 11-01923-EPK Doc 38 Filed 11/17/11 Page 1 of 9 [Tagged Opinion] ORDERED in the Southern District of Florida on November 17, 2011. Erik P. Kimball, Judge United States Bankruptcy Court UNITED STATES
More informationBANKRUPTCY BASICS AND TIPS FOR COLLECTION OF PROPERTY TAXES FROM TAXPAYERS IN BANKRUPTCY
BANKRUPTCY BASICS AND TIPS FOR COLLECTION OF PROPERTY TAXES FROM TAXPAYERS IN BANKRUPTCY by Roy F. Kiplinger Kiplinger Law Firm, P.C. August 5, 2010 We pride ourselves in providing quality legal services
More informationRepresenting Creditors in Consumer Bankruptcy Cases
4 Representing Creditors in Consumer Bankruptcy Cases Michael P. Hogan Craig B. Rule Marcy J. Ford John P. Kapitan I. Overview 4.1 II. General Considerations A. Filing Proofs of Claim 4.2 B. The Automatic
More informationCommon Issues That Arise When a Party to Litigation is in Financial Distress
Stressed About Distress: What Happens When One of the Parties to Your Lawsuit Is in Danger of Filing, or Actually Does File, Bankruptcy? Common Issues That Arise When a Party to Litigation is in Financial
More informationUNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF TEXAS AUSTIN DIVISION STANDING ORDER FOR CHAPTER 13 CASE ADMINISTRATION FOR AUSTIN DIVISION
SIGNED this 28th day of February 2003. Larry E. Kelly Chief United States Bankruptcy Judge Leif M. Clark United States Bankruptcy Judge Ronald B. King United States Bankruptcy Judge Frank R. Monroe United
More informationBy John J. Lamoureux Carlton Fields, P.A. Tampa, Florida. On April 20, 2005 President Bush signed into law the Bankruptcy Abuse Prevention and
RECENT CHANGES TO THE UNITED STATES BANKRUPTCY CODE WHAT CONSTRUCTION LAWYERS SHOULD KNOW AND THE POTENTIAL IMPACT SUCH CHANGES MAY HAVE ON CONSTRUCTION PROJECTS By John J. Lamoureux Carlton Fields, P.A.
More informationWho s Suing Me Now? The Rise of Qui Tam Lawsuits Under the Unclaimed Property Laws
Who s Suing Me Now? The Rise of Qui Tam Lawsuits Under the Unclaimed Property Laws David Finkelson McGuireWoods LLP Michael Rato McElroy, Deutsch, Mulvaney & Carpenter LLP 1 UPPO Presentation Disclaimer
More informationJEFFREY BADDELEY AND ERIC R. GOODMAN
Bankruptcy Court Holds that Postpetition Loan Participation Is Not a Form of Cover Under the Uniform Commercial Code (And Losses Related Thereto Cannot Be Set Off or Recouped Against Prepetition Receivables)
More informationCHAPTER 10 TRUSTEES, EXAMINERS AND CREDITORS COMMITTEES
CHAPTER 10 TRUSTEES, EXAMINERS AND CREDITORS COMMITTEES THE US TRUSTEES PROGRAM A BRIEF HISTORY LESSON: was an experiment in some districts when the Bankruptcy Code first became effective in 1979. is a
More informationBankruptcy Law Firm Ursula Jones, Attorney
ATTORNEY-CLIENT BANKRUPTCY RETAINER AGREEMENT The Client(s) hereby enter into this Attorney-Client Retainer Agreement with Ursula Jones ( Attorney ). 1. TOTAL FEES AND COSTS (a) Fixed Fee: A fixed fee
More informationTime Limitations in Bankruptcy Proceedings THE HYPOTHETICAL. sterilizer from Going Under Equipment Consultants. The sterilizer is manufactured by a
Time Limitations in Bankruptcy Proceedings THE HYPOTHETICAL The Far West Hospital Group, whom you insure, purchased a new surgical equipment sterilizer from Going Under Equipment Consultants. The sterilizer
More informationASSESSING THE RISK OF A MUNICIPALITY S REORGANIZING UNDER CHAPTER 9 OF THE BANKRUPTCY CODE
ASSESSING THE RISK OF A MUNICIPALITY S REORGANIZING UNDER CHAPTER 9 OF THE BANKRUPTCY CODE By John E. Mitchell, Baker & McKenzie, LLP (Dallas) (john.mitchell@bakermckenzie.com) and Angela B. Degeyter,
More informationHow To Defend Yourself In A Court Case Against A Trust
U.S. BANKRUPTCY COURT NORTHERN DISTRICT OF TEXAS ENTERED TAWANA C. MARSHALL, CLERK THE DATE OF ENTRY IS ON THE COURT'S DOCKET The following constitutes the order of the Court. Signed January 20, 2005.
More informationIN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND at GREENBELT. In Re: Debtor Chapter 7. vs. Adversary No.
Entered: July 31, 2013 Case 13-00202 Doc 20 Filed 07/31/13 Page 1 of 10 Date signed July 31, 2013 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MARYLAND at GREENBELT In Re: Fely Sison Tanamor
More informationUncharted Waters: Navigating Governmental Entities Creditor s Rights in Bankruptcy Cases By Edmund S. Whitson, III 1 and Nicole C.
Uncharted Waters: Navigating Governmental Entities Creditor s Rights in Bankruptcy Cases By Edmund S. Whitson, III 1 and Nicole C. Nate 2 1 Mr. Whitson is a shareholder at Anthony & Partners. He has more
More informationChapter 11. Background. A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a "reorganization" bankruptcy.
Chapter 11 The chapter of the Bankruptcy Code providing (generally) for reorganization, usually involving a corporation or partnership. (A chapter 11 debtor usually proposes a plan of reorganization to
More informationST. JOHN S UNIVERSITY SCHOOL OF LAW LL.M. IN BANKRUPTCY PROGRAM BUSINESS BANKRUPTCY REORGANIZATIONS. Spring 2016 Professor Alec Ostrow
ST. JOHN S UNIVERSITY SCHOOL OF LAW LL.M. IN BANKRUPTCY PROGRAM BUSINESS BANKRUPTCY REORGANIZATIONS Spring 2016 Professor Alec Ostrow Wednesdays: 5:40 p.m. to 7:50 p.m. Conducted Online Business Telephone
More informationIncome Tax Discharge Considerations in an Individual Debtor s Chapter 7 Bankruptcy
Income Tax Valuation Insights Income Tax Discharge Considerations in an Individual Debtor s Chapter 7 Bankruptcy Robert F. Reilly, CPA, and Ashley L. Reilly Many professional practitioners and small business
More informationDetermining Tax Liability Under Section 505(a) of the Bankruptcy Code
Determining Tax Liability Under Section 505(a) of the Bankruptcy Code Section 505(a) of the Bankruptcy Code (the Code ) provides the means by which a debtor or trustee in bankruptcy may seek a determination
More information503-326-4000 (phone) 503-326-7658 (fax)
Visit our website at http://www.justice.gov/ust/r18/portland/chapter11.htm United States Trustee 620 SW Main St., Suite 213 Portland, OR 97205 503-326-4000 (phone) 503-326-7658 (fax) TO: CHAPTER 11 DEBTORS,
More informationUnited States Bankruptcy Court Eastern District of Pennsylvania LOCAL BANKRUPTCY RULES
United States Bankruptcy Court Eastern District of Pennsylvania LOCAL BANKRUPTCY RULES Current through December 1, 2009 LOCAL BANKRUPTCY RULES OF THE UNITED STATES BANKRUPTCY COURT FOR THE EASTERN DISTRICT
More informationCase 14-24874-KCF Doc 12 Filed 07/21/14 Entered 07/21/14 18:47:10 Desc Main Document Page 1 of 9
Case 14-24874-KCF Doc 12 Filed 07/21/14 Entered 07/21/14 18:47:10 Desc Main Document Page 1 of 9 LOWENSTEIN SANDLER LLP Kenneth A. Rosen, Esq. Jeffrey D. Prol, Esq. Ira M. Levee, Esq. 65 Livingston Avenue
More informationCORE KNOWLEDGE: BANKRUPTCY
American Bar Association SECTION OF LITIGATION CORE KNOWLEDGE: BANKRUPTCY The Bankruptcy Code is a Federal statute and is codified under title 11 of the United States Code. The Bankruptcy Code is divided
More informationSmall Business and Individual Chapter 11 Cases Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
Small Business and Individual Chapter 11 Cases Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 I. Individual Chapter 11 Cases A.A Property of the Estate B Section 1115 1.1 In
More informationChapter 7 Liquidation Under the Bankruptcy Code
From Administrative Office of the United States Courts, Bankruptcy Basics, Public Information Series. Chapter 7 Liquidation Under the Bankruptcy Code The chapter of the Bankruptcy Code providing for "liquidation,"
More informationAdvanced Bankruptcy for Bankers. Candace C. Carlyon, Esq. www.sheacarlyon.com
Advanced Bankruptcy for Bankers Candace C. Carlyon, Esq. www.sheacarlyon.com 1 Pre Bankruptcy Review loan files, confirm collateral security, obtain as much information as possible Consider timing of remedies
More informationIMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY OR BANKRUPTCY PETITION PREPARER.
IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY OR BANKRUPTCY PETITION PREPARER. If you decide to seek bankruptcy relief, you can represent yourself, you can hire an attorney
More informationUNITED STATES BANKRUPTCY COURT FOR THE WESTERN DISTRICT OF MICHIGAN. NEWSTAR ENERGY, U.S.A., INC., Case No. SL 99-02724
UNITED STATES BANKRUPTCY COURT FOR THE WESTERN DISTRICT OF MICHIGAN In re: NEWSTAR ENERGY OF TEXAS, LLC, Case No. SL 99-02723 Debtor. Chapter 11 / In re: NEWSTAR ENERGY, U.S.A., INC., Case No. SL 99-02724
More informationIN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION
IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION In re: ) Chapter 7 Liquidation ) marchfirst, INC., et al., ) CASE NO. 01 B 24742 ) (Substantively Consolidated)
More informationBANKRUPTCY. Westlaw Journal. Part 2: How to Maximize Recovery by Properly Asserting Claims for Goods Sold to a Debtor in the 20 Days Before Bankruptcy
Westlaw Journal BANKRUPTCY Litigation News and Analysis Legislation Regulation Expert Commentary VOLUME 7, ISSUE 18 / JANUARY 7, 2011 Expert Analysis Show Me the Money! Bankruptcy Claims Under Section
More informationThe Requirements for Recognition under Chapter 15
One Debtor, Multiple Countries: A Discussion of Recent Developments in Cross-Border Insolvency Proceedings & Chapter 15 of the Bankruptcy Code By: Lawrence C. Gottlieb Michael Klein Robert Winning Abstract
More informationMarch 26, 2009. Honorable Nancy Pelosi Speaker of the House of Representatives Washington, D.C. 20515. Dear Madam Speaker:
March 26, 2009 Honorable Nancy Pelosi Speaker of the House of Representatives Washington, D.C. 20515 Dear Madam Speaker: I have the honor to submit to the Congress the amendments to the Federal Rules of
More information: In re: : Chapter 11 : WORLDCOM, Inc., et al., : Case No. 02 B 13533 (AJG) : Debtors. : Jointly Administered :
UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK : In re: : Chapter 11 : WORLDCOM, Inc., et al., : Case No. 02 B 13533 (AJG) : Debtors. : Jointly Administered : ORDER GRANTING DEBTORS MOTION
More informationCase 6:11-mp-00013 Doc 1 Filed 09/23/11 Page 1 of 9 UNITED STATES BANKRUPTCY COURT MIDDLE DISTRICT OF FLORIDA ORLANDO DIVISION ) ) ) ) ) ) ) ) ) ) ) )
Case 6:11-mp-00013 Doc 1 Filed 09/23/11 Page 1 of 9 UNITED STATES BANKRUPTCY COURT MIDDLE DISTRICT OF FLORIDA ORLANDO DIVISION In re: DONALD F. WALTON, United States Trustee for Region 21, Plaintiff vs.
More informationSEC Receivers v. Bankruptcy Trustees: Liquidation by Instinct or Rule
SEC Receivers v. Bankruptcy Trustees: Liquidation by Instinct or Rule Written by: Marcus F. Salitore Jackson Walker LLP; Dallas, Texas msalitore@jw.com Civil complaints filed by the Division of Enforcement
More informationMichelle André Jamie Ryan
Gift Card Planning Presented by: Michelle André Jamie Ryan Tre Towers Advisory Group, LLC Bailey Cavalieri LLC Managing Member Partner (703) 222-5010 (614) 229-3247 michelle.andre@tretowersadvisory.com
More informationIMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY 1
IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY 1 If you decide to seek bankruptcy relief, you can represent yourself, you can hire an attorney to represent you, or you can
More informationINFORMAL OPINION 2014-06 WHEN CLIENT CONSENT IS NECESSARY IN LIMITED SCOPE REPRESENTATION OF CHAPTER 7 BANKRUPTCY DEBTOR
30 Bank Street PO Box 350 New Britain CT 06050-0350 06051 for 30 Bank Street Professional Ethics Committee P: (860) 223-4400 F: (860) 223-4488 INFORMAL OPINION 2014-06 WHEN CLIENT CONSENT IS NECESSARY
More informationEvaluating Who May File A Ch. 11 Plan
Portfolio Media. Inc. 860 Broadway, 6th Floor New York, NY 10003 www.law360.com Phone: +1 646 783 7100 Fax: +1 646 783 7161 customerservice@law360.com Evaluating Who May File A Ch. 11 Plan Law360, New
More informationNOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE
NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE In accordance with 342(b) of the Bankruptcy Code, this notice to individuals with primarily consumer debts: (1) Describes briefly the services
More informationBankruptcy and The Fair Debt Collection Practices Act
Bankruptcy and The Fair Debt Collection Practices Act Rex Anderson 1 Why am I sitting here? I hope Rex is going to show me how to help my clients AND Make money 2 Debtor In Bankruptcy Debtor is insolvent
More information230 West Monroe Suite 240 Chicago, IL 60606 312-372-4400
230 West Monroe Suite 240 Chicago, IL 60606 312-372-4400 The Porter Law Network is owned by attorney Karen J. Porter. Ms. Porter is licensed in the State of Illinois. Ms Porter has more than 25 years of
More informationUNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION
UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION In re: Jointly Administered Case No. 01-42530-H4-11 Metals USA, Inc., et al., Case Nos. 01-42530-H4-11 through 01-42574-H4-11
More informationEXHIBIT A TO ADMINISTRATIVE ORDER 07-2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF OHIO
EXHIBIT A TO ADMINISTRATIVE ORDER 07-2 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF OHIO In Re: ) Chapter 13 Case No. ) ) Bankruptcy Judge Debtor(s) ) RIGHTS AND RESPONSIBILITIES
More informationCCIM Presentation: How Bankruptcies Affect Distressed Assets By: Tom Hillier and Ivy Grey Davis Wright Tremaine LLP
CCIM Presentation: How Bankruptcies Affect Distressed Assets By: Tom Hillier and Ivy Grey Davis Wright Tremaine LLP BANKRUPTCY 101 BASICS & CONTEXT 1. Guiding Policies a. Equality of Distribution b. Adequate
More informationUNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF FLORIDA. JUNG BEA HAN and Case No. 00-42086 HYUNG SOOK HAN, v. Adv. No.
UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF FLORIDA In Re JUNG BEA HAN and Case No. 00-42086 HYUNG SOOK HAN, Debtors. JUNG BEA HAN, Plaintiff. v. Adv. No. 05-03012 GE CAPITAL SMALL BUSINESS FINANCE
More informationIdentifying Defenses Arising From A Plaintiff's Bankruptcy
Portfolio Media. Inc. 860 Broadway, 6th Floor New York, NY 10003 www.law360.com Phone: +1 646 783 7100 Fax: +1 646 783 7161 customerservice@law360.com Identifying Defenses Arising From A Plaintiff's Bankruptcy
More informationChapter 12 is a reorganization for family farmers and fishing families, which is similar to Chapter 13.
GENERAL INFORMATION ABOUT THE BANKRUPTCY SYSTEM INCLUDING THE RIGHTS AND DUTIES OF CHAPTER 13 DEBTORS (and other information necessary to assist a debtor in completion of the chapter 13 plan) WHAT IS BANKRUPTCY?
More informationBANKRUPTCY: THE SILVER BULLET OF TAX DEFENSE. Dennis Brager, Esq.*
Adapted from an article that originally appeared in the California Tax Lawyer, Winter 1997 BANKRUPTCY: THE SILVER BULLET OF TAX DEFENSE Dennis Brager, Esq.* Many individuals, including accountants and
More informationACQUISITIONS OF TROUBLED BUSINESSES: A COMPARISON OF THE BANKRUPTCY AND NON-BANKRUPTCY ALTERNATIVES. James P. S. Leshaw 1
ACQUISITIONS OF TROUBLED BUSINESSES: A COMPARISON OF THE BANKRUPTCY AND NON-BANKRUPTCY ALTERNATIVES By James P. S. Leshaw 1 August 17, 1995 1 James P. S. Leshaw is a member of the Bankruptcy and Reorganization
More informationCase 15-01019-jal Doc 14 Filed 11/20/15 Entered 11/20/15 15:20:55 Page 1 of 5 UNITED STATES BANKRUPTCY COURT FOR THE WESTERN DISTRICT OF KENTUCKY
Case 15-01019-jal Doc 14 Filed 11/20/15 Entered 11/20/15 15:20:55 Page 1 of 5 UNITED STATES BANKRUPTCY COURT FOR THE WESTERN DISTRICT OF KENTUCKY IN RE: TIMOTHY SCOTT STURGEON CASE NO. 15-10309 (1(7 Debtor(s
More informationDefending Preference Claims: What s Mine is Mine What s Yours is Negotiable
Defending Preference Claims: What s Mine is Mine What s Yours is Negotiable By William B. Creim and Laurie K. Jones Introduction This article discusses practical strategies for trade creditors who receive
More informationRe: Dischargeability of Court-Ordered Restitution When the Debtor has Filed a Petition in Bankruptcy
1 of 8 6/23/2005 8:28 AM November 30,1994 The Honorable Winona E. Rubin Director of Human Services State of Hawaii 1390 Miller Street Honolulu, Hawaii 96813 Dear Ms. Rubin: Re: Dischargeability of Court-Ordered
More informationNot Just for Retailers: Gift Cards & Stored Value Cards:
Not Just for Retailers: Gift Cards & Stored Value Cards: (The Basics) Presented by: Amanda Culp - Card Compliant LLC Richard M. Zuckerman - Dentons US LLP UPPO Presentation Disclaimer Use of the Unclaimed
More informationUNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF WISCONSIN. In re Case No. 13-23483 JANICE RENEE PUGH, Chapter 13 Debtor.
UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF WISCONSIN In re Case No. 13-23483 JANICE RENEE PUGH, Chapter 13 Debtor. MEMORANDUM DECISION ON DEBTOR S OBJECTION TO INTERNAL REVENUE SERVICE S MOTION
More informationCase 10-32200 Document 33 Filed in TXSB on 04/21/10 Page 1 of 8 IN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS
Case 10-32200 Document 33 Filed in TXSB on 04/21/10 Page 1 of 8 IN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION ENTERED 04/21/2010 ) IN RE ) ) SOUTHWEST GUARANTY,
More informationBankruptcy Issues in Foreclosure Actions. Andrew J. Zeigler
Bankruptcy Issues in Foreclosure Actions Andrew J. Zeigler Bankruptcy Automatic Stay 11 U.S.C. 362 Once a bankruptcy petition is filed all collection activities must stop immediately. Applies to all creditors
More informationChapter 13: Repayment of All or Part of the Debts of an Individual with Regular Income ($235 filing fee, $39 administrative fee: Total fee $274)
B 201A (Form 201A) (12/09) WARNING: Effective December 1, 2009, the 15-day deadline to file schedules and certain other documents under Bankruptcy Rule 1007(c) is shortened to 14 days. For further information,
More informationIN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION
IN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION DUTIES AND RESPONSIBILITIES OF A DEBTOR UNDER CHAPTER 7 AND ATTENDANCE AT THE 341 MEETING OF CREDITORS In either
More informationChapter 13 Handbook. David Burchard Chapter 13 Trustee Santa Rosa Division. (707) 544-5500 * Fax (707) 544-0475 www.burchardtrustee.
Chapter 13 Handbook David Burchard Chapter 13 Trustee Santa Rosa Division (707) 544-5500 * Fax (707) 544-0475 www.burchardtrustee.com TABLE OF CONTENTS I. Disclaimer.....1 II. Introduction.......2 III.
More informationHow To Get A Court To Let A Bankruptcy Case To Go Through
UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF NEW YORK -------------------------------------------------------- IN RE: MICHELLE MARIE WARD CASE NO. 03-66503 Debtor Chapter 13 ---------------------------------------------------------
More informationIN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ALABAMA WESTERN DIVISION. v. AP No. 08-70044 MEMORANDUM OF DECISION
Document Page 1 of 16 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ALABAMA WESTERN DIVISION IN RE: DENISE L. EVANS, Case No. 08-71204-CMS-07 Debtor. PREMIER SELF STORAGE, LLC., Plaintiff,
More informationIn re Washington Mutual, Inc.: Delaware Bankruptcy Court Limits Debtors Release of Third Parties. March/April 2011. Mark A. Cody
In re Washington Mutual, Inc.: Delaware Bankruptcy Court Limits Debtors Release of Third Parties March/April 2011 Mark A. Cody In a recent decision, Judge Mary F. Walrath of the United States Bankruptcy
More informationFEATURED ARTICLE. Introduction. If You Represent Employees, You May Want to Read This
FEATURED ARTICLE What California Business Lawyers Need to Know About the New Bankruptcy Legislation (Part 2) By Lawrence Peitzman and David B. Shemano Introduction In Part I of this article, published
More informationThe individual or husband and wife must be engaged in a farming operation or a commercial fishing operation.
Chapter 12 Background: Chapter 12 is designed for "family farmers" or "family fishermen" with "regular annual income." It enables financially distressed family farmers and fishermen to propose and carry
More information11-15059-mg Doc 1847 Filed 04/17/14 Entered 04/17/14 17:21:50 Main Document Pg 1 of 16
11-15059-mg Doc 1847 Filed 04/17/14 Entered 04/17/14 172150 Main Document Pg 1 of 16 Hearing Date and Time May 22, 2014 at 200 p.m. (Prevailing Eastern Time) Response Deadline May 15, 2014 at 400 p.m.
More informationBankruptcy Basics June 9, 2009
Bankruptcy Basics June 9, 2009 Brooks Hamilton Haynes and Boone, LLP www.haynesboone.com Purposes of bankruptcy Mechanism to allow person or company that cannot pay creditors to resolve debts through division
More informationJurisdiction and Venue in Chapter 15 Selected Issues
Jurisdiction and Venue in Chapter 15 Selected Issues Prepared by: Jeanne P. Darcey Sullivan & Worcester LLP Boston, MA jdarcey@sandw.com October 8, 2013 Please visit us on our website at www.sandw.com
More informationProper Burial: How to Advise Your Corporate Clients When the End is Near. Bar Association of San Francisco April 27, 2011
Proper Burial: How to Advise Your Corporate Clients When the End is Near Bar Association of San Francisco April 27, 2011 GOALS Avoid or minimize director/officer liabilities Appropriate vehicle to bring
More informationSummary Outline of Mississippi Revised LLC Act (House Bill 683)
Summary Outline of Mississippi Revised LLC Act (House Bill 683) In General The Revised Act is very friendly to small business but also supports freedom of contract principles. Existing LLCs that have written
More informationIN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ALABAMA SOUTHERN DIVISION
Document Page 1 of 7 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ALABAMA SOUTHERN DIVISION In Re: ) ) TANITA M. CAIN, ) Case No. 13-04056-TOM-7 ) Debtor. ) MEMORANDUM OPINION AND
More informationFrequently Asked Questions. for. Chapter 7 Debtors
Frequently Asked Questions for Chapter 7 Debtors The information contained in this document is provided as a service to our clients, and does not constitute legal advice. We try to provide quality information,
More informationUNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF CALIFORNIA. Plaintiff, D e fendants.
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF CALIFORNIA 1 1 1 0 1 IN RE HYDROXYCUT MARKETING AND SALES PRACTICES LITIGATION ANDREW DREMAK, on Behalf of Himself, All Others Similarly Situated and the
More informationBANKRUPTCY ISSUES RELATED TO MORTGAGE FORECLOSURES
TABAS FREEDMAN Attorneys One Flagler Building 14 Northeast First Avenue, Penthouse Miami, Florida 33132 Telephone 305.375.8171 Facsimile 305.381.7708 www.tabasfreedman.com Gary M. Freedman gfreedman@tabasfreedman.com
More informationUNITED STATES BANKRUPTCY COURT MIDDLE DISTRICT OF FLORIDA TAMPA DIVISION
In re: JON J. HAMMILL, UNITED STATES BANKRUPTCY COURT MIDDLE DISTRICT OF FLORIDA TAMPA DIVISION Case No. 8:09-bk-2272-CPM Debtor. Chapter 7 / DONALD F. WALTON United States Trustee for Region 21, Plaintiff
More informationALI-ABA Course of Study Asbestos Litigation: Where Is It Going? When Will It End? December 4-5, 2008 San Antonio, Texas
0 ALI-ABA Course of Study Asbestos Litigation: Where Is It Going? When Will It End? December -, 00 San Antonio, Texas Non-Class Aggregate Settlements Submitted by Patrick M. Hanlon University of California
More informationPayment System Override Deems Transaction Not Ordinary
Payment System Override Deems Transaction Not Ordinary Ames Merchandising Corp. v. Cellmark Paper Inc. (In re Ames Dept. Stores, Inc.), 2011 Bankr. LEXIS 969 (Bankr. S.D.N.Y. Mar. 28, 2011) In Ames Merchandising
More informationBearing Fruit: Reward and Loyalty Programs. UPPO Presentation Disclaimer
Bearing Fruit: Reward and Loyalty Programs Tuesday, March 25, 2014 Amanda Culp Card Compliant Charolette Noel Jones Day Richard Zuckerman Dentons UPPO Presentation Disclaimer Use of the Unclaimed Property
More informationNotice of Formation Solicitation for Official Committee of Student Creditors
Office of the United States Trustee District of Delaware 844 King Street, Suite 2207 Wilmington, DE 19801 Tel. No. (302) 573-6491 Fax No. (302) 573-6497 IN RE: Chapter 11 Corinthian Colleges, Inc., et
More informationBankruptcy Court Has Broad Discretion to Estimate and Temporarily Allow Claims for Voting Purposes. March/April 2005. Kelly Neff and Mark G.
Bankruptcy Court Has Broad Discretion to Estimate and Temporarily Allow Claims for Voting Purposes March/April 2005 Kelly Neff and Mark G. Douglas Protracted delay in liquidating claims against a chapter
More informationMy Customer Filed Bankruptcy What Should I Do Now?
My Customer Filed Bankruptcy What Should I Do Now? Lynnette Warman Lwarman@Hunton.com Copyright October 2009 First, confirm there has been a filing. Not all cases get filed. Or if they are filed, they
More informationInsurance in Bankruptcy
Fear of Losing D&O Insurance in Bankruptcy Is Overblown B y P a t r i c i a J. V i l l a r e a l a n d D o u g l a s R. C o l e he typical D&O insurance policy covers not only a company s directors and
More informationCase 10-93904-BHL-11 Doc 416 Filed 03/31/11 EOD 03/31/11 15:52:22 Pg 1 of 12 SO ORDERED: March 31, 2011.
Case 10-93904-BHL-11 Doc 416 Filed 03/31/11 EOD 03/31/11 15:52:22 Pg 1 of 12 SO ORDERED: March 31, 2011. Basil H. Lorch III United States Bankruptcy Judge IN THE UNITED STATES BANKRUPTCY COURT SOUTHERN
More informationUNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF MICHIGAN. NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE
B 201A (Form 201A) (11/11) UNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF MICHIGAN NOTICE TO CONSUMER DEBTOR(S) UNDER 342(b) OF THE BANKRUPTCY CODE In accordance with 342(b) of the Bankruptcy Code,
More informationCase 15-10952-KJC Doc 826 Filed 08/21/15 Page 1 of 7 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE.
Case 15-10952-KJC Doc 826 Filed 08/21/15 Page 1 of 7 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re: CORINTHIAN COLLEGES, INC., ET AL., Debtors. Chapter 11 Case No. 15-10952 (KJC)
More information