It’s that time of year again! The bankruptcy courts’ new rules, fees, and forms come into effect today. Just like news outlets this time of year summarize where you can find the best online deals, we thought we’d take the opportunity to review this year’s bankruptcy-related amendments. Consult your local listings bankruptcy rules, statutes and forms for more detail.
Rule Amendments
“A boy’s best friend is his mother.” – Norman Bates
“Let’s have a family gathering for the remaining family members who still speak to each other” – Someecards, Inc.
A recent decision from the United States Bankruptcy Court for the Western District of Texas touched on two popular bankruptcy topics: notice requirements and the effect of a bankruptcy discharge on claims.
In yesterday’s post, we published a speech in which Harvey Miller discussed how he got started practicing bankruptcy law. Today, we are publishing the text of a speech that Harvey gave in March of 2014 on the 40th anniversary of the Southeastern Bankruptcy Law Institute, at which Harvey was a frequent speaker. In this speech, Harvey looked back at the evolution of bankruptcy law over the past 50 years.
Introduction
Are a debtor’s net operating losses considered property of the estate when they are reported on a consolidated tax return by a non-debtor parent? We previously wrote about this issue here.
Is a rent-stabilized lease in New York a “local public assistance benefit” that is exempt from property of a debtor’s bankruptcy estate, or is it merely “a quirk of the regulatory scheme in the New York housing market[?]” That was the question recently decided by the Second Circuit in In re Monteverde.
Although the bankruptcy world has long been acquainted with Ponzi schemes, the courts have not clearly answered the question of how to distribute investors’ funds after a scheme fails – especially in the scenario where certain investors profit. The United States Bankruptcy Court for the District of Utah recently weighed in on the issue in
In post-confirmation proceedings, bankruptcy courts maintain the ability to clarify a plan where silent or ambiguous, and interpret a plan to advance equitable considerations. However, bankruptcy courts are not allowed to modify a plan outside the confines of section
“That ain’t right. Baby, that ain’t right at all.”
– Nat King Cole
This article has been contributed by Martin Desrosiers and Julien Morissette, partner and associate respectively, in the Insolvency & Restructuring Group of