Ask Ms. Ps & Qs

By Professor Nancy Rapoport

Dear Readers:

Judicial opinions are often dry, stick-to-the-facts things. Sometimes, though, a judge writes an opinion that is both useful and fun to read. Judge Stacey Jernigan’s opinion in Milbank v. Sharpshooter II, Inc. (In re Worldwide Diamond Ventures, LP), 2016 WL 5395832 (Bankr. N.D. Tex. 2016), is an example of the latter type of opinion.

In this Chapter 7 case, the fate of the “Pink Diamond” involves the issue of whether the defendant paid so much for the Pink Diamond that the sale was a constructively . . .

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From the Editor – Debtor’s Attorney

May 17, 2020

By The Honorable William Houston Brown (Retired) Sanctions for including foreclosed property in petition. On creditor’s motion, sanctions for attorney fees and costs were awarded against Chapter 13 debtor’s attorney for scheduling as property of estate real property that had been foreclosed and on which debtor’s redemption period had expired. Under Rule 9011(c), a safe harbor letter from the creditor...

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Beyond Professional Ethics

July 25, 2021

By Merideth Akers, CPA, PHR, Comptroller forBradford W. Caraway (Birmingham, AL) I am a Certified Public Accountant (CPA) and a Professional in Human Resources (PHR). I suspect that many who read this article are Licensed Attorneys. Others may hold a certification from other professions. These entities have their own rules of professional ethics and conduct that govern what we are...

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Negotiating Plan Confirmation with Secured Creditors – Issues Involving Balloon Payments and Other Mortgage Loans Subject to Modification Under § 1322(c) – Part 2 of 3

November 15, 2020

By David Cox,1 Cox Law Group, PLLC (Lynchburg, VA) Click here for Part 1 II. Dealing With Balloon, Short Term and Related Mortgage Secured Claims Under §§ 1322(c)(2) And 1325(a)(5). § 1322(c)(2) provides that: “Notwithstanding subsection (b)(2) and applicable nonbankruptcy law . . . It looks like you are not signed in or registered! This content is only available to...

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Paying the Car Loan Directly vs. Through the Plan: Till Debt Us do Part?

January 31, 2021

By Herbert L. Beskin, Chapter 13 Trustee for the Western District of Virginia (Charlottesville) In a recent case out of the Sixth Circuit, the Appeals Court heard an appeal by the Chapter 13 Trustee concerning direct payments by the debtor on a car loan and the applicable interest rate. The case is In re Chambers, 6th Circuit, # 20-1376, Appeal...

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Taxes, Offset, and Mutuality

October 13, 2019

By Cathy Moran, Esq. (Redwood City, CA) Bankruptcy lawyers are accustomed to evaluating the dischargeability of taxes when deciding when to file a client's bankruptcy case. But as we approach the end of the tax year, a client’s current year tax situation becomes another moving part in the “when do we file” analysis. In the simplest situation, the client owes...

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Vesting Victories: Chapter 13 Debtors’ Shielded Against Unlisted Asset Claims

Henry E. Hildebrand, III

August 25, 2024

Once a Chapter 13 case is completed and the debtor receives a discharge, the trustee cannot seek to reopen the case for the purpose of grabbing an undisclosed, prepetition asset and then converting the case to a Chapter 7 so it could be administered.

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From the Editor – Discharge Injunction

May 31, 2020

By The Honorable William Houston Brown (Retired) Only bankruptcy court issuing discharge order can enforce injunction. The Fifth Circuit held that only the bankruptcy court issuing a discharge order has authority to enforce the discharge injunction. The opinion reviews pre-2005 Code provisions and current 28 U.S.C. § 1963, citing other Circuits that “have insisted on a return to the bankruptcy...

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Critical Case Comment – Don’t File a Individual Chapter 13 If the Assets Are Owned by an LLC; It Will Cost You – BIG

Henry E. Hildebrand, III

September 25, 2022

Where a debtor and debtor’s counsel initiated a Chapter 13 petition in an effort to halt a foreclosure against property held by the debtor’s LLC, and where the debtor took no steps to correct the filing, sanctions would be imposed against debtor’s counsel. (Grabill) In re Scaccia, 2022 WL 1216284 (Bankr. E.D. La. April 25, 2022) Case Summary Scaccia owned...

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Separately Classifying Student Loans in Chapter 13

The Academy

June 23, 2024

We originally ran this item in May to give you a heads up of what was coming. July is almost here . . . Starting July 1st, Chapter 13 debtors in Federal Student Loan IDR plans will receive IDR credit for each month they make their bankruptcy plan payments, without needing to separately classify their student loans.

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From the Editor – Dismissal

August 2, 2020

By The Honorable William Houston Brown (Retired) Dismissal with 180-day bar affirmed. The debtors had filed eight Chapter 13 cases over eight years, with each dismissed, and in 2019 the spouses filed three more cases. A mortgage creditor moved for relief from the automatic stay and dismissal in each of the cases. The cases were dismissed with a 180-day bar...

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Related Articles

From the Editor – Debtor’s Attorney

Beyond Professional Ethics

Negotiating Plan Confirmation with Secured Creditors – Issues Involving Balloon Payments and Other Mortgage Loans Subject to Modification Under § 1322(c) – Part 2 of 3

Paying the Car Loan Directly vs. Through the Plan: Till Debt Us do Part?

Taxes, Offset, and Mutuality

Vesting Victories: Chapter 13 Debtors’ Shielded Against Unlisted Asset Claims

From the Editor – Discharge Injunction

Critical Case Comment – Don’t File a Individual Chapter 13 If the Assets Are Owned by an LLC; It Will Cost You – BIG

Separately Classifying Student Loans in Chapter 13

From the Editor – Dismissal

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