April 4, 2009
UST Report on Debtor Audits in 2008
The UST resumed doing debtor audits in May 2008, 1691 total audits in 2008. Here is its report for 2008, issued in March, 2009. It reports that 21% of the audits had at least one material misstatement. The Central District of California had 55 audits with 15 of those reporting at least one material misstatement.
April 3, 2009
Los Angeles Bankruptcy Forum Program April 6
LOS ANGELES BANKRUPTCY FORUM'S
April 6, 2009 Dinner Program
"Clear Channel: Does Appealing Sales Make for Unappealing Assets?"
ALAN M. AHART
U.S. Bankruptcy Court
Central District of California
JOHN M. TEDFORD IV
Danning, Gill, Diamond & Kollitz LLP
SIDNEY P. LEVINSON
Hennigan, Bennett & Dorman LLP
The panel will analyze the Ninth Circuit Bankruptcy Appellate Panel's ruling in Clear Channel Outdoor, Inc. v. Knupfer (In re PW, LLC), 391 B.R. 25 (9th Cir. BAP 2008). Unlike other recent programs on Clear Channel which have focused on the BAP's interpretation of 11 U.S.C. §363(f)(5), this program will focus on the BAP's interpretation and application of statutory mootness under 11 U.S.C. §363(m) and equitable mootness, and the decision's potential impact on bankruptcy sales in this circuit.
$80.00 for LABF members
$100.00 for non-members
$35.00 for government
At the door: Additional $10.00 Monday, April 6, 2009
Doors open at 6:00 PM
Dinner at 6:45 PM
Program at 7:30 PM
Lights out at 8:45 PM Location
Omni Hotel Los Angeles
215 South Olive Street
SIGN UP ONLINE OR MAIL/FAX PRINTABLE FORM AT:
SEATING IS LIMITED. CANCELLATIONS MUST BE MADE BY APRIL 2, 2009. THIS ACTIVITY WILL COUNT FOR ONE HOUR MCLE CREDIT (LABF CERTIFIES THAT THIS ACTIVITY CONFORMS TO THE STANDARD FOR APPROVED EDUCATION ACTIVITIES PRESCRIBED BY THE STATE BAR OF CALIFORNIA.)
April 2, 2009
The Great Decision: Jefferson, Adams, Marshall and the Battle for the Supreme Court
This is a great book if you love the Supreme Court and the history of our country. It is an entire book on Marbury v. Madison, 5 U.S. 137 (1803) written by Cliff Sloan and David McKean. The Amazon listing is here.
I had no idea how close we came to making the Supreme Court a weak sister to Congress and the Executive Branch. The book details the Judiciary Act of 1801 which created a whole bunch of new judgeships (and Circuit Courts of Appeal) by the Federalist Congress right before John Adams left the presidency filling the new positions on his way out. The Republicans took over Congress and Thomas Jefferson, resenting the fact that the Federalists would control the judiciary for a long time, exhorted the now Republican Congress to repeal the Judiciary Act of 1801 and pitch out most of the so-called midnight judges. In the meantime, William Marbury sued the Secretary of State, James Madison, demanding that he be ordered to deliver the judicial commission. The suit was filed by Marbury in the Supreme Court because the Judiciary Act of 1791 authorized certain suits to be filed directly with the Supreme Court. Worrying about the courts getting too strong, Congress did repeal the Judiciary Act of 1801 and changed the Supreme Court "sessions" so that Marbury v. Madison could not be heard until Feb 1803. In the meantime, Stuart v. Laird was filed challenging the power of Congress to repeal the act which in effect removed 16 or so judges who had been appointed "for life" under the Act.
Given the incredible atmosphere, Marshall crafted an incredible decision striking down the portion of the 1791 Act giving the Supreme Court original jursidiction over certain actions. A few days later the Supreme Court, without Marshall who had recused himself since he was the trial judge (on Circuit) in the Stuart v. Laird trial, agreed with the Marshall lower court ruling that Congress had the power to repeal its act.
The book is easy to read and fascinating and I highly recommend it. .
Don't forget my book on the Supreme Court - Bankruptcy Jurisprudence and the Supreme Court - which you can get on Amazon here.
April 1, 2009
ABI Podcast with new NACBA President Carey Ebert
This interview took place on February 26, 2009. The Podcast can be accessed at http://podcast.abiworld.org/ .
March 30, 2009
Circuit Court of Appeals Cases from Last Week
2nd Circuit Court of Appeals, March 26, 2009
Pleasant v. TLC Liquidation Trust, --- F.3d ---, 2009 WL ------ (2nd Cir. 2009)(Defendant's motion to reconsider too late)
5th Circuit Court of Appeals, March 26, 2009
Borrego Springs Bank, N.A. v. Skuna River Lumber, L.L.C., --- F.3d ---, 2009 WL ------ (5th Cir. 2009)(Bankruptcy Court must have jurisdiction over the assets to enter order surcharging assets and imposing a judicial lien)
6th Circuit Court of Appeals, March 23, 2009
Moran v. LTV Steel Co., --- F.3d ---, 2009 WL ------ (6th Cir. 2009)(mere fact that court authorized the committee to sue defendants did not render defendant aggrieved for purpose of standing to appeal order forming the committee)
6th Circuit Court of Appeals, March 27, 2009
Yoppolo v. MBNA Am. Bank, N.A., --- F.3d ---, 2009 WL ------ (6th Cir. 2009)(bank-to-bank transfer actually diminished the Debtor's assets and the "earmark" doctrine did not apply, and thus the transfer was of the Debtor's interest in the property)
8th Circuit Court of Appeals, March 24, 2009
Am. Prairie Constr. Co. v. Hoich, --- F.3d ---, 2009 WL ------ (8th Cir. 2009)(action involving a settlement agreement)
9th Circuit Court of Appeals, March 25, 2009
Educational Cred. Mgmt. Corp. v. Coleman, --- F.3d ---, 2009 WL ------ (9th Cir. 2009)(request for finding of "undue hardship" to permit the discharge of her student loans ripe even though substantially in advance of plan completion)
Leaving Las Vegas
I have been in Las Vegas for the past four days, hence no posts. I spent the first two days anticipating the big victory by Gonzaga over UNC and the past two days licking my wounds. Business in the city is really slow in my unexpert opinion.