To GIVE or Not to GIVE “Notice” - That is the Question… • NACTT Academy

To GIVE or Not to GIVE “Notice” – That is the Question…

By Gerard T. Forgét III, JD, MBA, LLM(TAXATION), Omaha, NE

Recently, the IRS Office of Chief Counsel issued a “Memorandum” outlining its position on the consequences of the Effect of Late Notice in a Chapter 13 Bankruptcy filing. According to the Memorandum, the issue is well-settled in situations where the IRS receives NO Notice of the Bankruptcy Petition being filed and of the claims bar date. (n.b. effect . . .

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Rule 3002.1 Does Not Justify Punitive Sanctions

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By Henry E. Hildebrand, III, Chapter 13 Standing Trustee (Nashville, TN) In order for a bankruptcy court to impose sanctions for contempt, Taggart compelsa finding of a violation of a clear and unambiguous order; the bankruptcy court lacks inherent power to issue punitive sanctions under Rule 3002.1. (Jacobs) PHH Mortgage Corporation v. Sensenich, 6 F.4th 503 (2nd Cir. August 2,...

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Can a Secured Claim Still “Ride-Through” Bankruptcy Despite BAPCPA? – Part 1 In re Rhodes Says, “Let Me Count the Ways”

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“The focus of this article is to review some of the issues faced in cases with pending state court marital property division proceedings.”

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By Henry E. Hildebrand, III, Chapter 13 Trustee (Nashville, TN) Chapter 13 debtor may exclude from disposable income amounts projected to be paid to an employer sponsored 401(k) where such payments are consistent with pre-filing contributions made to the retirement account. Davis v. Helbling, 2020 WL 2831172 (6th Cir. June 1, 2020) (Larsen) Case Summary In 2017, Camille Davis filed...

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From the Editor – Claims

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Reaffirmations Impose Impossible Demands on Bankruptcy Counsel

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By Cathy Moran, Esq. (Redwood City, CA) When BAPCA gutted the ipso facto clause, reaffirmation was left as the only way a debtor could be assured of retaining his wheels. Car lenders took sides back then, then changed sides, on whether they would automatically repossess a vehicle when the debt was not reaffirmed. Some wanted the in terrorem effect of...

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By Cathy Moran, Esq., (Redwood City, CA) To actually effect abandonment of unadministered assets in a bankruptcy case, the asset in question must appear on Schedule A/B. That’s the hard teaching of Stevens v. Whitmore from the 9th Circuit BAP. A passing reference to an asset in the SOFA isn’t sufficient. Neither was the fact the trustee explicitly knew about...

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Small Business Reorganization Act…(“SBRA”) H.R. 3311 – Part Two

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By Jan Hamilton, Chapter 13 Standing Trustee (Topeka, KS) I. The Plan1 A. Notions to Consider before the Plan is Filed… Time for Filing of the Plan. No later than 90 days after the filing of the case, the debtor is required to file a plan, unless the court extends the time if the “need is attributable to circumstances for...

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