From the Editor’s Desk – Plan Confirmation • NACTT Academy

From the Editor’s Desk – Plan Confirmation

By The Honorable William Houston Brown (Retired)

Second mortgage creditor did not hold unsecured claim in Chapter 20 case. The debtor had received a Chapter 7 discharge and within one year filed a Chapter 13, in which she filed a motion to value her residence, resulting in an order that the second mortgage had no value to support it and that the lien would be avoided on completion of plan payments. The debtor was not eligible for Chapter 13 discharge, but her amended plan proposed to pay the second mortgage nothing. The debtor then objected to . . .

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Bankruptcy Lawyer Must Have Otherworldly Powers

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Just for fun . . .

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Conflicting Interpretations: A Chapter 13 Trustee’s Compensation After Pre-Confirmation Dismissal or Conversion*Part 1 of 3

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(Used with expressed permission from the MI Bankruptcy Journal and the Steven W. Rhodes Consumer Bankruptcy Conference) I. Introduction Although the Bankruptcy Code has been around for decades, bankruptcy courts continue to be faced with significant disputes regarding the interpretation of its provisions. An emerging issue that has gained traction in recent years involves the compensation of a chapter 13...

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Evictions in Ohio, Kentucky, Michigan and Tennessee May Go Forward? Sixth Circuit Says CDC’s Eviction Moratorium Exceeded Its Authority

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After the CARES Act’s 120-day moratorium on evictions ended, the Centers for Disease Control (“CDC”) extended the moratorium, with the CDC’s order based on authority under the Public Health Service Act of 1944. CDC stepped into the landlord-tenant arena to make and enforce regulations necessary to prevent spread of COVID-19, citing 42 U.S.C. § 264(a). Subsequent to CDC’s action, Congress...

Assumption of Auto Lease in Chapter 7 Requires No Court Approval Says the 9th Circuit: In re Bobka

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2022 Bankruptcy Procedure Year in Review: Revised Statute and Rules and Selected Cases – Part 3 Rules Related to SBRA (Continued)

Lawrence R. Ahern, III

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From the Editor – Confirmation

March 8, 2020

By The Honorable William Houston Brown (Retired) Equal monthly payments and attorney fees. The secured creditor objected to confirmation on basis that the plan improperly deferred its payments until debtor’s attorney fees were paid, and the District Court affirmed confirmation that delayed start of secured equal monthly payments for 21 months. The opinion examines three approaches to the issue: 1)...

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Tax Form 1099 Needs A Closer Look: Chances Are It’s Wrong

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By William J. Purdy, III, Simmons & Purdy (Soquel, CA) Hundreds of thousands of taxpayers in the past few weeks have looked at or at least thought about, Form 1099-A or Form 1099-C documents they have received. Some arrived in the tax year a debt was allegedly cancelled. Others are issued by financial instructions many years after they should have...

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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....

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Henry E. Hildebrand, III

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The Ninth Circuit has now joined its sister Circuit in holding that the Bankruptcy Code does not permita Chapter 13 Trustee to retain the percentage fees collected on payments that a chapter 13 debtor made pre-confirmation in accordance with 26 U.S.C. §586 but, upon dismissal prior to confirmation of the plan, is obligated to return the fee to the debtor,...

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The “Snapshot” Rule – Part 1: The Circuits Begin to Line Up

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By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) Exemptions are determined at the time the debtor files for bankruptcy. … This maxim is called the "snapshot" rule because the debtor's financial situation is frozen in time, as if someone had taken a snapshot of it.1 Recent Caselaw The First and Ninth Circuits On March 1, the Ninth Circuit...

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