Bitcoins and Bankruptcy

By Phil Lamos, Chief Legal Counsel, Office of the Chapter 13 Trustee Craig Shopneck (Cleveland, OH)

In my almost 20 years at the Trustee’s office I’ve had to put a value on everything from a 1962 Ford Falcon to a song copyright to a collection of hermit crabs, and now there is something new to value: Bitcoin.

What is Bitcoin? Bitcoin is “virtual” currency, sometimes referred to as cryptocurrency. Bitcoin was founded in 2009 to provide a decentralized and anonymous method of making financial transactions. Bitcoin (and other less prevalent cryptocurrencies) are unique in . . .

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Lawrence R. Ahern, III

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The NACTT Emeritus Trustees

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Henry E. Hildebrand, III

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Failure of Chapter 13 debtors to satisfy post-petition property tax payments to the county, specifically required in the debtors’ Chapter 13 plan, renders the debtors ineligible for a discharge, even where the debtors proposed a loan modification to repay the mortgage creditor which had advanced the post-petition taxes. (Rodriguez) In re Villarreal, 2022 WL 1102223 (Bankr. S.D. Tex. April 12,...

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Lawrence R. Ahern, III

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Introduction This series reviews developments in bankruptcy procedure during 2022. Amendments to 16 rules and new one new rule take effect December 1, 2022, absent Congressional action. Many reflect changes necessitated by the Small Business Reorganization Act of 2019 (SBRA),1 and have been in place in the same or similar form on an interim basis since that legislation took effect.

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From the Editor

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By The Honorable William Houston Brown (Retired) Chapter 13 debtors’ FDCPA claim was not “related to” bankruptcy case. After reopening closed case, the debtors filed adversary complaint against mortgage holders and servicers, alleging various claims for violation of discharge injunction, automatic stay and FDCPA. The complaint plausibly pleaded elements required for §§ 362(k) and 524(i), but the claims under FDCPA...

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The NACTT Emeritus Trustees

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In recent years, a handful of cases have discussed the issue of what happens to the trustee’s percentage fee, collected from debtor plan payments, upon the dismissal or conversion of a case prior to confirmation. This is an emerging area of law, with decisions on both sides. However, with this new issue, there appears to be at least some confusion...

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By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) PART III: The Lower Courts Struggle with Arbitration Guidelines Introduction Click here for Part I Click here for Part II

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