From the Editor’s Desk - Property of Estate and Exemptions • NACTT Academy

From the Editor’s Desk – Property of Estate and Exemptions

By The Honorable William Houston Brown (Retired)

Profit-sharing plan was not exempt. Prior to filing Chapter 13, which was converted to Chapter 11 and then 7, the IRS had audited the debtor’s tax return, including requesting documentation about a profit-sharing plan. The fact that IRS had closed its audit did not create a presumption that the profit-sharing plan was exempt from the bankruptcy estate, and the bankruptcy court found that the plan was not exempt under § 522(b)(3)(C), due to repeated violations of applicable tax laws, including eight transactions by . . .

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Critical Case Comment

December 27, 2020

By Henry E. Hildebrand, III, Chapter 13 Trustee for the Middle District of Tennessee (Nashville) Section 506(d) does not allow the voiding of a lien when the underlying claim, filed by the debtor, has been disallowed; when notice is provided to a corporation it must be addressed to the individual who holds the office of an officer, manager, or general...

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4 Reasons to Keep Time Records No One Discusses

Cathy Moran

July 17, 2022

Mention keeping time records to a bankruptcy lawyer and you’re likely met with expressions of utter revulsion. All too many assert that the major appeal of being a bankruptcy lawyer is precisely that they don’t have to keep time. Between flat fee deals with clients, and no look fees in Chapter 13, they feel liberated from the clock and the...

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Critical Case Comment – Present Tense in § 544(b)

Henry E. Hildebrand, III

February 19, 2023

When case converts from Chapter 13 to Chapter 7, the Chapter 7 trustee is not limited to the valuation of the debtor’s home as stated on the original schedules and may capture the increase in equity resulting from the property’s appreciation. (Dales) In re Adams, 2022 WL 2079725 (Bankr. W.D. Mich. June 9, 2022) Case Summary Matthew and Katherine Adams...

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From the Editor – Fair Debt Collection Practices Act

February 2, 2020

By The Honorable William Houston Brown (Retired) Punitive damages reduced for FDCPA and RESPA violations. The mortgage servicer violated FDCPA, RESPA and the Illinois Consumer Fraud and Deceptive Business Practices Act by treating account as delinquent after Chapter 13 debtor had cured arrears, brought account current and obtained discharge. The servicer mistakenly marked the Chapter 13 case as dismissed rather...

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Critical Case Comment–Tardy Filed Stay Extension: Too Bad Too Sad

Henry E. Hildebrand, III

January 7, 2024

Court lacks authority to extend stay in a case with a one-time repeat filer within a year of the previous case especially where the matter is tardily raised.

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Pump the Brakes: Bad Faith Debtors Are Not Gaming the System (Part II)

January 27, 2019

By Kathryne M. Shaw1 Boleman Law Firm, P.C. (Virginia Beach, VA) Click here for Part 1 In Part I of this article, we reviewed In re Holman, in which the debtors violated their confirmation order and exhibited bad faith . . . It looks like you are not signed in or registered! This content is only available to members. Join...

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From the Editor – Claims

June 21, 2020

By The Honorable William Houston Brown (Retired) Recordation of divorce judgment created secured claim. In Chapter 13 case, the debtor objected to former spouse’s secured claim, with pre-bankruptcy divorce judgment awarding former marital home to the husband but ordering equalization payments to the wife. No security was mentioned in the judgment, but its recordation created a lien under Wisconsin law....

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From the Editor

March 24, 2019

By Wm. Houston Brown, United States Bankruptcy Judge (Retired) Discharge - Section 523(a)(8)(A)(ii) does not include “loan.” Denying Navient’s motion to dismiss debtors’ complaint, reviewing the split of authority on whether § 523(a)(8)(A)(ii)’s “educational benefit” included loans, and finding no controlling authority in the Tenth Circuit, the Court concluded that Congress made a distinction between “loan” in § 523(a)(8)(A)(i) and...

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Director’s Awards Recognize 19 Employees for Leadership, Service

The Academy

December 10, 2023

Congratulations to all but specifically the two bankruptcy courts with recognized recipients!

Passing of a Legend

June 13, 2021

By Kara L. West, CPA, Chapter 12/13 Standing Trustee for the Eastern District of Tennessee (Chattanooga); Successor Trustee to C. Kenneth Still C. Kenneth Still was a legend. “Always with Barbara at this side, he epitomized qualities I think we all seek—honesty, diligence, kindness, and patience. He was a great mentor and a quick wit, and I miss him already....