June 26, 2008
California Bankruptcy Journal Seeking Articles on Individual Chapter 11 Cases
From Tax guru Elmer Dean Martin:
The California Bankruptcy Journal is planning on an issue of the Journal for early next year devoted to articles relevant to individual Chapter 11 cases. A review of Webpacer indicates that the number of individual Chapter 11 cases are increasing at the rate of at least 100% each year. The number of Chapter 11 cases filed by individuals in each of the three California districts in 2008 already exceeds the number filed all of last year. A more significant increase occurred between 2006 and 2007.
If you would like to write an article to be published in the Journal sharing your experiences in individual Chapter 11 cases, please contact me by email at firstname.lastname@example.org.
Program with Antonin Scalia
What are great program! Justice Scalia and Bryan Garner are putting on an all day program on July 25 in Washington, D.C. based on their new book, Making Your Case: The Art of Persuading Judges. The brochure is here. The book, by the way, is an absolute must for any lawyer who ever goes into court. It consists of 115 "pointers," some of which Scalia and Garner disagree on and the ensuing discussion is wonderful. I am going to read one pointer each day to my class.
June 25, 2008
Some Further Thoughts on the Supreme Court and Piccadilly
Just musing about how much the Piccadilly appeal cost and what it accomplished. I didn't spend any time wondering about the result when I saw that Justice Thomas was the author of the majority opinion. The code says no stamp tax can be assessed on sales under a chapter 11 plan, that's what it means. The tax was some $39,000 on a sale of some $80 million. What do you think the cost of the appeal was? From the Bankruptcy Court to the District Court to the Court of Appeals to the Supreme Court? I'll bet the cost of printing the various briefs and appellate record was more than $39,000. And the Supreme Court will publish about 70 opinions this year according to Scotusblog. Since the annual budget of the Supreme Court is about $75 million, that opinion cost a million bucks. And why in the world did the court choose that case? It makes you wonder if they were looking for something for Thomas to do. And why in the world did Breyer bother to dissent? I like Breyer, but his dissent argued that it makes more sense to do what's practical rather than what Congress said. He should save those arguments for cases that matter. And why can't Congress just fix these things (showing my naivete)? The courts all agree that its Congress's choice. They could have whipped out a little amendment making it more clear what they meant.
June 23, 2008
Washington Post Article on Business Credit Cards
From Professor Bob Lawless:
Simone Baribeau from the Washington Post is doing a story about the business credit cards and increasing difficulties by small business owners who find themselves struggling because of high debts on these credit cards. She would be interested in talking to anyone who finds himself or herself in this situation. Stories from around the country are welcome, but she would particularly be interested in speaking to persons in the Washington, DC, metro area. If you or one of your clients is willing to speak to Ms. Baribeau, please contact her directly. BaribeauS@washpost.com
Circuit Court Bankruptcy Cases for Last Week
2nd Circuit Court of Appeals, June 19, 2008
In Re Prudential Lines Inc., --- F.3d --- (2nd Cir., 2008)(bankruptcy court order re use of insurance indemnities to pay claims is reversed)
10th Circuit Court of Appeals, June 17, 2008
Crossingham Trust v. Baines, --- F.3d --- (10th Cir., 2008)(appeal dismissed for lack of final order)
U.S. Supreme Court, June 18, 2008
Florida Dep't of Revenue v. Piccadilly Cafeterias, Inc., ---- U.S. ---, 2008 WL 2404077 (2008)(bankruptcy court order that stamp tax cannot be assessed on sale of property of the estate is reversed)
Thanks to Findlaw.com.