Recently, I had the pleasure of a great conversation with Chapter 13 Trustee, Thomas McDonald, from the EDMI. As it turns out, we have both been pilots for a long time. Once we came to this realization, our conversation quickly devolved from the issues confronting the bankruptcy industry to talk of density altitude, mountain flying, and the importance of using...
From the Editor – Postpetition Debt
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By The Honorable William Houston Brown (Retired)
Debtor not engaged in business nor self-employed were not required to obtain court’s permission to incur postpetition debt. The court found nothing in the Bankruptcy Code requiring a court’s authorization for a Chapter 13 debtor who is not engaged in business to incur postpetition debt or obtain credit. The Code only requires such authorization for debtors governed by § 1304. The debtors did not need court authorization to incur debt for the purchase of a vehicle to replace one destroyed in wreck. In re Fields
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