How Guarantors Can Escape Tax on Soured Debt

Congratulations to all of this year’s Inductees! We are especially proud to recognize friends of the Academy - Judges Crawford and Romero, Michelle Bass, Ed Boltz, Melissa Davey, and Kara Gendron.

Continuing your summer reading, Judge Norton shares with subscribers a three-part outline on zealous advocacy followed by a multi-part Addendum of case summaries broken into various categories. We believe you will enjoy this resource. This week we offer the first group of cases from the Addendum. These cases deal with behavior. Part 1 - History of Zealous Advocacy Part 2 - How Have Courts Discussed “Zealous Advocacy”? Part 3 - Practical Takeaways

“For the past seven months, the National Association of Chapter 13 Trustees has hosted and participated in a working group (the “Working Group”) comprised of individuals from the financial services industry. . . . The Working Group’s stated purpose was to discuss the issues, concerns and challenges involved with providing debtors in consumer bankruptcy cases with the ability to make online post-petition payments to creditors holding secured claims and access to online account information related to such claims.”

Bankruptcy Court has authority to compel implementation of a confirmed Chapter 13 plan which, at its end required the release of a junior lien which had been given no value; attorney’s fees would be awarded to debtors’ counsel for pursuing the release.