Bankruptcy Mastery

Becoming a better bankruptcy lawyer

Here Are 3 Ways To Cram Down A Car In Spite Of The Hanging Paragraph

By Filed Under: Bankruptcy Practice

There are three labeled exits from the 910 freeway.  Find one and you save your client thousands of dollars.  Miss them all and you do your client a disservice. The infamous hanging paragraph in  §1325(a) prohibits bifurcation of a creditor's claim secured by a vehicle into a secured claim and an unsecured claim.  Specifically: section 506 shall not apply to a claim described in that paragraph if … [Continue reading...]

What I Learned In San Antonio, And What We Missed

By Filed Under: Bankruptcy Practice

bankruptcy practice workshop

After a long weekend with 900 bankruptcy colleagues, I've been thoroughly reminded about all that remains to be learned about this marvelous profession.  What did I learn, and what was missing? I took my first bankruptcy case 32 years ago, and looking back, I blanch at what I didn't know then.  Even now, I see new angles, new complexities in a law I've been reading almost daily for more than 3 … [Continue reading...]

NACBA San Antonio: Marketing A Bankruptcy Practice

By Filed Under: Bankruptcy Practice

Our presenter was Larry DePalma, an affable guy who identified himself as  a marketing expert. He mentioned a number of times that he works with a bankruptcy lawyer in Tennessee.  [I checked his  LinkedIn profile  which claims that he is a "Treasury management and payments industry professional with extensive experience in product and marketing management." His specialty, … [Continue reading...]

Evidence Rules In Mortgage Litigation

By Filed Under: Bankruptcy Practice

Judge Pamela Pepper convened a "hearing" on related disputes involving a debtor's mortgage, the creditor's standing, and the payment history on the loan.  The various parties to the dispute sought to obtain, introduce and exclude evidence at the mock hearing.  The comments are almost exclusively hers as she analyzed what we'd just seen. This is bankruptcy court; does anyone care about evidence? … [Continue reading...]

Remember the Big Stuff: Protecting Retirement and Business Assets

By Filed Under: Bankruptcy Practice

Hon. Susan Kelley, U.S. Bankruptcy Court (Milwaukee, WI) Behrooz Vida, Esq. (Bedford, TX) Retirements asset issue that can be calculated by using equity interest rate release calculator. ERISA qualified plans excluded from bankruptcy estate. Nobody knew what was ERISA-qualified and not. IRAs may not have been qualified under Patterson but SUpreme Court came along and said debtor’s own IRA is … [Continue reading...]

Whoa! Watch Out For Preferences

By Filed Under: Bankruptcy Practice

Elaine Dowling, Esq. (Oklahoma, OK) Hon. Margaret Mahoney, U.S. Bankruptcy Court (Mobile, AL) For the record, this was my favorite of the Friday sessions. What is a transfer?  Very broad. Insolvency is based on the time of the transfer, not based on hindsight.  What the parties knew at the time of the transfer.  Strict balance sheet analysis - no exemptions taken into account.  Look at … [Continue reading...]

Low Down On AG Mortgage Settlement

By Filed Under: Bankruptcy Practice

A last minute addition to the program for Saturday was a presentation on the nation wide mortgage settlement between the states' Attorneys General and the five major servicers. Here are my notes from the presentation by Joseph A. Smith, Jr. the court appointed monitor of the settlement. The presentation was accompanied by a concise and remarkably thorough summer of the settlement prepared by … [Continue reading...]

Stripping in San Antonio

By Filed Under: Bankruptcy Practice

John Rao, NACBA Vice President, and Judge Leif Clark presented the program on lien stripping. John Rao: language in Nobelman points to 506(a) to determine the creditor's status. Are they really a secured creditor subject to the modification prohibition of 1322(b)? If not, they can be stripped.  Remember this isn't 522(f) lien avoidance. Exemptions play no part in analysis for 506 lien … [Continue reading...]

Struggling to Surrender

By Filed Under: Bankruptcy Practice

Here's what I would have blogged live if the interest in our live blogging hadn't crashed the server and required uninstallation of the software that would allow us to be really live. This presentation dealt with the problems that arise when the debtor wants to surrender encumbered property and the secured creditor will take no action to acquire title. Honorable Robert Berger, KC KS; James … [Continue reading...]

Washington, Rules & NCBRC

By Filed Under: Bankruptcy Practice

Here's what I would have blogged for the second session on Friday's NACBA Convention. It seems that the enthusiasm for the "live blogging" effort crashed our server.  We're now up, at least for the moment, and for non live blogging. Jon Yarowsky NACBA lobbyist. Two branches of government now involved in politics. Everything in DC has been put off til after election. Nothing will be done … [Continue reading...]

Bankruptcy Mastery Will Provide Live Coverage Of NACBA San Antonio Convention

By Filed Under: Bankruptcy Practice

I hate taking notes during conventions.  I know I should, but I don't do it - ever.  As a consequence, I forget a good chunk of what I've learned. I also get that some people won't be in San Antonio for the NACBA convention April 27 - 29.  So I've prevailed on Cathy for the two of us to undertake the first liveblogging of a NACBA convention. What is liveblogging?  It's live coverage of the … [Continue reading...]