2022 Bankruptcy Procedure Year in Review: Revised Statute and Rules and Selected Cases Part 5 – Supreme Court Activity

Introduction

This series reviews developments in bankruptcy procedure during 2022. Amendments to 16 rules and one new rule took effect December 1, 2022. Many reflected changes necessitated by the Small Business Reorganization Act of 2019 (SBRA),1 and have been in place in the same or similar form on an interim basis since that legislation took effect.

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Brown & Ahern (Nashville, TN)

Larry Ahern is a partner in Brown & Ahern and is an Adjunct Professor of Law at Vanderbilt University (teaching Secured Transactions) and St. John’s University (Bankruptcy Procedure). He is a Fellow of the American College of Bankruptcy and the American College of Mortgage Attorneys and a Director of the Association of Insolvency and Restructuring Advisors. A Rule 31 Certified Mediator in Tennessee, he also holds national certification as a Business Bankruptcy Specialist by the American Board of Certification. Larry practiced bankruptcy and commercial law after his 1972 graduation from Vanderbilt until 2013, when he limited his practice to mediation and other alternate dispute resolution, consulting engagements by legal and financial professionals on legal issues involving bankruptcy, real estate and commercial law, expert testimony, writing, teaching, and speaking. In addition to his current teaching positions, he serves on the Advisory Board of the St. John’s Law School Bankruptcy LL.M. program and, in 2002, was Visiting Professor at Cumberland School of Law (Secured Transactions and Banking). He also chaired the American Board of Certification and the Tennessee Commission on CLE & Specialization and continues serving the ABC as Director Emeritus. Larry’s other professional affiliations include the American Bankruptcy Institute (former Director) and the Mid-South Commercial Law Institute (former Director and President). He is the author or co-author of 19 books and articles on bankruptcy and commercial law, with other articles pending, and he is a frequent speaker and writer.

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By The Honorable William Houston Brown (Retired) Junior mortgage lienholder not affected by modifications of senior mortgage. Under Pennsylvania law, the prepetition modification of terms of the senior mortgage had recapitalized interest and costs already owed but had not created new liabilities. As a result, the junior mortgage holder was not materially prejudiced. The Chapter 13 debtors could avoid the...
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Introduction This series reviews developments in bankruptcy procedure during 2022. Amendments to 16 rules and new one new rule take effect December 1, 2022, absent Congressional action. Many reflect changes necessitated by the Small Business Reorganization Act of 2019 (SBRA),1 and have been in place in the same or similar form on an interim basis since that legislation took effect.
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By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) Click here for Part I Click here for Part II Part III - Description of Collateral Introduction The . . . It looks like you are not signed in or registered! This content is only available to members. Join Now Or Sign In Below: Username or Email Password Remember me...
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