From the Editor’s Desk - Property of Estate and Exemptions • NACTT Academy

From the Editor’s Desk – Property of Estate and Exemptions

By The Honorable William Houston Brown (Retired)

Profit-sharing plan was not exempt. Prior to filing Chapter 13, which was converted to Chapter 11 and then 7, the IRS had audited the debtor’s tax return, including requesting documentation about a profit-sharing plan. The fact that IRS had closed its audit did not create a presumption that the profit-sharing plan was exempt from the bankruptcy estate, and the bankruptcy court found that the plan was not exempt under § 522(b)(3)(C), due to repeated violations of applicable tax laws, including eight transactions by . . .

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From the Editor – Discharge

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By The Honorable William Houston Brown (Retired) Failure to pay postpetition fees under Rule 3002.1 did not prevent discharge. The debtor had completed payments to the trustee and postpetition mortgage payments to the creditor, but she had not paid $1,370 in postpetition fees that had been asserted by the mortgage creditor and noticed to the debtor under Rule 3002.1. That...

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By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) PART I: Statutes, Rules & Supreme Court (In)actions Introduction Click here for Part II Click here for Part III Click here for Part IV What is the effect of an arbitration clause in bankruptcy? When . . . It looks like you are not signed in or registered! This content...

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Comparison of Annual Change in Chapter 13 Case Filings During the Beginnings of the 2008 and the 2020 Recessions

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By The Honorable Kevin R. Anderson, United States Bankruptcy Court for the District of Utah Coming off the longest economic expansion in U.S. history, Chapter 13 filings were at their lowest levels since 2007. With the country entering a sudden and unanticipated recession in February of 2020, we expected to see Chapter 13 filing rates increase; however, the opposite occurred....

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Alan C. Hochheiser

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Brittani Bushman

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From the Editor – Avoidance

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By The Honorable William Houston Brown (Retired) Tax foreclosure sale avoided as preference. Affirming the District and Bankruptcy Courts, at 571 B.R. 662 and 588 B.R. 394, the Third Circuit held that the Chapter 13 debtors could avoid a pre-petition tax foreclosure sale as a preferential transfer. The township held a properly noticed tax sale at public auction, which resulted...

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Just for fun . . .

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The Academy

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