I've Looked at Clouds from Both Sides Now • NACTT Academy

I’ve Looked at Clouds from Both Sides Now

(Song by Joni Mitchell – first recorded by Judy Collins in 1968)
By Merideth Akers, CPA, PHR, Comptroller for Bradford W. Caraway (Birmingham, AL)

In the simplest terms, bankruptcy has two sides. The debtor is on one side, and the creditor is on the opposite side. Although there are opposite sides in bankruptcy, the system is designed to be non-adversarial. For over 21 years, I have looked at bankruptcy from both sides. I am writing a friendly reminder, that both sides often have critical financial issues that they are facing, and both sides are in need . . .

It looks like you are not signed in or registered! This content is only available to members.

Or Sign In Below:

No Author Biography has been linked to this Article.

Conflicting Interpretations: A Chapter 13 Trustee’s Compensation After Pre-Confirmation Dismissal or Conversion* Part 3 of 3

Brittani Bushman

February 13, 2022

(Used with expressed permission from the MI Bankruptcy Journal and the Steven W. Rhodes Consumer Bankruptcy Conference)By Brittani Bushman, Judicial Law Clerk to the Hon. John T. Gregg, United States Bankruptcy Court for the Western District of Michigan B. Illustrative Decisions (Minority Approach) The Bankruptcy Appellate Panel for the Ninth Circuit recently issued a comprehensive unpublished decision adopting the minority...

Members

From the Editor – Debtor’s Attorney

May 17, 2020

By The Honorable William Houston Brown (Retired) No attorney fees for Chapter 7 work in converted case. In a case that began as Chapter 7 and converted to Chapter 13, the debtor’s attorney sought fees for work in the Chapter 7 phase under § 330(a)(4)(B) rather than § 330(a)(1). The Court found the better interpretation of § 330(a)(4)(B)’s language “in...

Members

Critical Case Comment– Secured Creditor Granted Relief from Stay. But, Wait There’s More . . . No Proof of Claim.

Henry E. Hildebrand, III

July 24, 2022

Secured creditor in a Chapter 13 case entitled to relief from the stay due to lack of adequate protection where the creditor neglects to file a proof of claim and, as a consequent, received no payments under a Chapter 13 plan. (Conley) Weyer v. Valley Communities Credit Union, 2022 WL 1597293 (W.D. Wis. May 19, 2022) Case Summary Dana and...

Members

Some Federal Protections are Stronger Than Others – Sovereign Immunity, Criminal Restitution, and the Automatic Stay

Jeffrey S. Fraser

August 13, 2023

In this brief synopsis, Fraser compares Lac du Flambeauto a case from the Middle District Court of North Carolina and its connection to the automatic stay.

Members

Who Files the Tax Returns Under SBRA

June 7, 2020

By Steven L. Walker, Esq. (San Jose, CA) Subchapter V of the newly amended Bankruptcy Code is silent on the question as to whether the debtor-in-possession, or the court appointed trustee, must file the entity’s income tax returns on Form 1065, Form 1120, or Form 1120S. Although the IRS also has not issued any formal guidance, answers can be found...

Members

Ask Ms. Ps & Qs

September 27, 2020

By Professor Nancy Rapoport Dear Readers: The Academy staff has raised an important issue: Given the mental health issues associated with the pandemic, what should someone do when he or she sees a colleague lawyer in distress? Before we get to the ethics implications, let’s talk about the mental health issue itself. When people are under great stress, they try...

Members

Navigating Secured Creditors Who File Unsecured Chapter 13 Claims

October 31, 2021

By Eric K. Fox, Esq. (Hendersonville, TN) Jane Debtor has a home with a mortgage. An unsecured creditor obtains a judgment against Jane for, say, a credit card debt. Creditor’s attorney records a certified copy of the judgement order with the county register of deeds, thereby converting the unsecured claim against Jane in personam, to a secured claim against her...

Members

Consumers Are Consuming Cash at an Unsustainable Rate

Kevin R. Anderson

June 26, 2022

Consumers have burned through their stimulus cash and are now drawing down their savings to satisfy pent up spending sprees and to cover the increasing cost of living. This cannot continue. From 2015 through the end of 2019, consumers held a consistent average of $1.1 trillion in savings. However, with the commencement of the COVID pandemic and the first of...

Members

Tax Time Guide: Contribute to an IRA by April 15 to claim it on 2018 tax returns

March 24, 2019

3/19/19 IRS reminded taxpayers that it’s not too late to contribute to an Individual Retirement Arrangement (IRA) and still claim it on a 2018 tax return. Anyone with a traditional IRA may be eligible for a tax credit or deduction on their 2018 tax return if they make contributions by April 15, 2019. This news release is part of a...

Employment Law Alphabet Soup

October 24, 2021

By Merideth Akers, CPA, PHR, Comptroller for Bradford W. Caraway (Birmingham, AL) I have taught Compensation and Benefits to candidates preparing to take the Professional in Human Resources certification exam. These two topics include a great amount of employment law. So, I know just enough about employment law to be scared… or maybe cautious is a better term. I am...

Members