List It or Lose It: When Actual Knowledge Isn’t Enough

By Cathy Moran, Esq., (Redwood City, CA)

To actually effect abandonment of unadministered assets in a bankruptcy case, the asset in question must appear on Schedule A/B.

That’s the hard teaching of Stevens v. Whitmore from the 9th Circuit BAP.

A passing reference to an asset in the SOFA isn’t sufficient.

Neither was the fact the trustee explicitly knew about the claim then . . .

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Judge Carol A. Doyle: Pre-Retirement Interview

Samantha Ruben

May 14, 2023

(Reprinted with permission. Bankruptcy Court Liaison Committee Newsletter – Spring 2023 (Northern District of Illinois)) During her tenure as a bankruptcy judge for nearly 24 years, Judge Carol A. Doyle has presided over countless chapter 7, 11, and 13 cases, leaving a lasting impact on the Chicago bankruptcy landscape. She has been a dedicated and respected member of the bankruptcy...

A Fond Farewell to 007 – Frank M. Pees

May 3, 2020

On April 30, 2020, Frank M. Pees will retire from his position as the Chapter 13 Standing Trustee (Worthington) for the Southern District of Ohio, Eastern Division. Mr. Pees has been a Trustee since his appointment in 1978. Throughout his career, he has been actively involved in the National Association of Chapter 13 Trustees, serving as President (in 1987), and...

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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...

Critical Case Comment – Sec. 328 vs. Sec. 327 Not Exactly a Smack Down

Henry E. Hildebrand, III

July 17, 2022

A referral fee by retained special counsel paid to debtor’s attorney violates the prohibition in § 504 in that the referral fee constitutes an unauthorized splitting of attorney’s fees. (Williamson) In re Davis, 638 B.R. 198 (Bankr. M.D. Fla. March 31, 2022) Case Summary Four years after Lisa Davis filed her Chapter 13 petition, she was involved in an auto...

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Undersecured Short-Term Mortgages May be Crammed Down

September 8, 2019

By Angela M. Scolforo, Staff Attorney to Herbert L. Beskin, Chapter 13 Trustee (Charlottesville, VA) In Hurlburt v. Black,1 the en banc Fourth Circuit Court of Appeals overturned its prior decision in Witt,2 and held that Bankruptcy Code § 1322(c)(2) authorizes modification of some home mortgage loans through bifurcation and cram down. This enables debtors to cram down home mortgage...

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Passive Retention: A Creditor’s Right or an Act to Exercise Control?

April 14, 2019

By John Andreasen and Patrick Lombardi, Law Students at the University of Illinois College of Law and Duberstein Moot Court Team Members Both consumers and businesses often depend on motor vehicles for their livelihood or, for consumers, access to health care, child care, or other essential services. A creditor’s repossession of a motor vehicle can turn into an existential crisis...

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Five More Things Debtors Should Know About the SBRA – Part VIII

February 16, 2020

By Lawrence R. Ahern, III, Brown & Ahern (Nashville, TN) Introduction This series has focused on the four bankruptcy-related bills that were enacted during the 116th Congress and signed into law on August 23, 2019. One bill, the Small Business Reorganization Act of 2019 (SBRA), will be effective February 19, 2020. It appears in its entirety in Appendix B to...

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Representing Elderly Clients in Bankruptcy – Part 3 of 3

January 19, 2020

By David Cox,1 Cox Law Group, PLLC (Lynchburg, VA) Click here for Part 1 of 3 Click here for Part 2 of 3 C. Challenges unique to older debtors. Mobility/hearing attendance requirements. Attendance at 341 hearing. Section 343 Examination of the debtor clearly indicates that the debtor shall appear and . . . It looks like you are not signed...

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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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All Taxpayers Should Plan Ahead for Natural Disasters

June 9, 2019

Floods, wildfires, hurricanes, tornados and other natural disasters happen quickly and often with little warning. No one can prevent these disasters from happening, but people can prepare for them. Here are some things taxpayers can do to help protect their financial safety should a disaster occur. Taxpayers should: Update emergency plans. A disaster can strike any time. Personal and business...