From the Editor’s Desk – Claims • NACTT Academy

From the Editor’s Desk – Claims

By The Honorable William Houston Brown (Retired)

Widow’s family allowance claims. The former Chapter 11 debtor died while domiciled in Florida, leaving seven wills and naming various individuals as executors. No probate had begun on any will. Prior to the death, the case was transferred to the Southern District of Texas, where the debtor had been a successful surgeon, and it was converted after the death to Chapter 7. The debtor’s widow filed claims against both the bankruptcy and probate estates for domestic support obligations and family allowance. In a unique and interesting factual . . .

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Critical Case Comment – Present Value and Attorney’s Fees

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By Henry E. Hildebrand, III, Chapter 13 Standing Trustee (Nashville, TN) Administrative fees and claims existing when Chapter 13 plan was confirmed would reduce the amounts received by unsecured creditors in a Chapter 7 under the “best interests of creditors test;” unsecured creditors, expected to receive payments over three years, must be paid the “present value” of that stream of...

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Henry E. Hildebrand, III

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Cathy Moran

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The no man’s land between the mortgage due date and late payment is a persistent trouble spot for Chapter 13 practitioners. For example, are there arrears when the case is filed during the grace period and the payment made before it was late? In Borre, Judge Ronald Sargis of ED CA said no. He held that the payment was not...

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By Hon. Brian Lynch, Bankruptcy Judge, WAWB “[T]he bankruptcy court has a duty to review fee applications, notwithstanding the absence of objections by the United States trustee (“UST”), creditors, or any other interested party….” In re Busy Beaver Bldg. Ctrs., Inc., 19 F.3d 833, 841 (3d Cir. 1994). In Chapter 13 cases this role is critical because in this judge’s...

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David Jacob

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“Just call me the third-party release clause groupie. . . . After another security check and metal detector, we were in and I had a seat where I could see all of the justices in their glory!”

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Michael B. Joseph

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Bankruptcy Code Section 521(e)(2)(A)(i) and (ii) provides that a debtor must supply tax returns to the trustee in a chapter 7 or 13 case, and to a creditor who timely requests such copy. Must the debtor provide copies that contain personal identifying information such as names, addresses and social security numbers of dependents including minor children? Or a redacted version...

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Pam Bassel

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It is appropriate that the title of this article is based on the lyrics from Dire Straits’ biggest hit, since that is where many below-median debtors find themselves – in dire straits.

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Forced Vesting by Any Other Name – Just Might Work

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By Academy Staff Those who have been around consumer bankruptcy for a while remember the halcyon days when a Debtor surrendered property in the Plan; Plan was confirmed; lender would foreclosure and file its deficiency claim; Debtor would complete the Plan; and obtain a discharge of all unsecured debts including the deficiency balance. Lenders were able to realize on the...

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The Smart Way to Cut Out the IRS

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By Cathy Moran, Esq. (Redwood City, CA) Like so much in life, it’s all about timing. I revisited an older post here about delaying the filing of a bankruptcy til the New Year when the debtor expects to owe taxes in April. A Chapter 13 filed in January can include and pay the taxes associated with the tax year ending...

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