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May 22, 2010

Circuit Court of Appeals Cases from Last Week

2nd Circuit Court of Appeals, May 14, 2010
In re Baker, --- F.3d ---, 2010 WL ----------- (2nd Cir 2010)(proceeds of an annuity exempt under New York Debtor and Creditor Law section 282 and New York Insurance Law section 3212 where New York law permitted the debtor to exempt the annuity payments, and he gave consideration for the contract when he released a wrongful death claim)

4th Circuit Court of Appeals, May 11, 2010
US v. Boulware, --- F.3d ---, 2010 WL ----------- (4th Cir 2010)(15-month sentence affirmed for fraudulently making a declaration under penalty of perjury in a bankruptcy case is affirmed)

5th Circuit Court of Appeals, May 14, 2010
In the Matter of Tex. Comm. Energy, --- F.3d ---, 2010 WL ----------- (5th Cir 2010)(draw down a letter of credit in violation of a bankruptcy court order not violated)

8th Circuit Court of Appeals, May 10, 2010
In re Freier, --- F.3d ---, 2010 WL ----------- (8th Cir 2010)(defendant personally liable for a state-court money judgment rendered against a corporation wholly owned by defendant, where: 1) defendant's material promise to repay the debt in the future, made with the intent to defraud and without the intent to perform constituted actionable fraud; and 2) the evidence supported the bankruptcy court's finding that plaintiff relied on defendant's representation about taking draws)

11th Circuit Court of Appeals, May 12, 2010
In re Managed Care Litig., --- F.3d ---, 2010 WL ----------- (11th Cir 2010)(prior class action settlement agreement did not release the claim plaintiff pursued against defendant in the bankruptcy adversary action)

11th Circuit Court of Appeals, May 04, 2010
Old West Annuity & Life Ins. Co. v. Apollo Grp., --- F.3d ---, 2010 WL ----------- (11th Cir 2010)(allocation of surplus proceeds from the sale of real property in a foreclosure action under Florida and bankruptcy law)

Thanks to Findlaw.com

May 22, 2010 in Other Circuit Briefs | Permalink | Comments (0) | TrackBack

May 21, 2010

UST Report on Bankruptcy Audits

Here is the report dated March, 2010.  There were material misrepresentations in 22% of the total cases audited, 27% in the Central District.   

May 21, 2010 in Bankruptcy Statistics | Permalink | Comments (0) | TrackBack

May 19, 2010

LACBA Program on Chapter 11 First Day Motions

Presented by the Commercial Law & Bankruptcy Section
Program Description:
Judge Deborah Saltzman and experienced Chapter 11 practitioners will present selected topics for "First Day Motions", including employee wage claims, critical vendors, utilities, banking alternatives, limits on notice, immediate cash collateral issues, and how Local Bankruptcy Rules and practices make these motions more efficient.

Scott C. Clarkson, Clarkson Gore & Marsella APLC
Leslie A. Cohen, Leslie Cohen Law PC
Hon. Deborah Saltzman, U.S. Bankruptcy Court
Jason D. Wallach, Gladstone Michel Weisberg Willner & Sloane ALC

Times and Registration Information:
12:00 PM
12:00 PM
12:30 - 1:30 PM

Registration Code:010946
Register Online:  Click here or call our Member Services Department, 9:00 a.m. - 4:00 p.m., at (213) 896-6560. For multiple registrations, call our Member Service Department. Registration closes at 12:00 noon the day before most programs.

May 19, 2010 in Programs | Permalink | Comments (0) | TrackBack

SFVBA Program on Foreclosures

Dear Jon:

The SFVBA program has two speakers, Louis Esbin and Lewis Landau, who have been doing a lot of work in the courts on foreclosure issues.

Here is the link to the website page where the program is advertised: https://www.sfvba.org/Calendar/Signup.aspx?EventNo=1087

Event: Short Sale, Foreclosure and Post Foreclosure Strategies
Start Date: 5/26/2010 12:00 PM
End Date: 5/26/2010 1:30 PM
Location: SFVBA, 21250 Califa St. Suite 113, Woodland Hills

Event Cost:
  Member $35.00
  Non-Members $45.00
  Member at Door $45.00
  Non-Member at Door $55.00

Credits: General 1.5 hours

To register, call Linda Temkin at the Bar Office.  818 227 0590 x 105

Steven R. Fox

May 19, 2010 in Programs | Permalink | Comments (0) | TrackBack

May 18, 2010

Confirmation of an Individual Chapter 11 Plan - What a Concept!

I actually got an individual chapter 11 plan confirmed yesterday.  The plan said the debtor will pay the first on his home according to its original terms.  The second was wiped out and treated as unsecured - the "Lam Motion."  Unsecureds paid x amount per month for five years.  The unsecureds voted for the plan (only four voted).  What was interesting is that once the judge said "plan confirmed," no one was sure what to do next.  There was discussion about when the discharge should be entered (at the end of the plan payments), whether a final decree could be entered and when (when the plan is substantially consumated), whether the case could be closed on substantial consummation and then re-opened five years from now - yes.  We were all admitting that this is kind of new territory.  I am going to file a Motion for Final Decree quickly so the case can be closed and the UST fees and reporting will end.  Then reopen five years from now and seek the final decree and an order avoiding the second on the home.  We'll see what happens.  I have 10 or 12 more of these in the hopper now.     

May 18, 2010 in Current Affairs | Permalink | Comments (4) | TrackBack

May 17, 2010

Meet the Judges - June 2, 2010

The Honorable Sheri Bluebond - Moderator
The Honorable Alan M. Ahart
The Honorable Catherine E. Bauer
The Honorable Samuel L. Bufford
The Honorable Robert N. Kwan
The Honorable Richard M. Neiter
The Honorable Deborah J Saltzman
The Honorable Maureen A. Tighe
The Honorable Vincent P. Zurzolo

$80.00 for LABF members
$100.00 for non-members
$35.00 for government
At door: Additional $10.00 
June 2, 2010
Doors open at 6:00 p.m. - Dinner at 6:45 p.m.
Program at 7:30 p.m.
Lights out 8:45 p.m. 
Omni Hotel Los Angeles
251 South Olive Street
Los Angeles
Click here to register and pay online: 
Or click here to print the registration form:

May 17, 2010 in Programs | Permalink | Comments (0) | TrackBack

May 16, 2010

Bankruptcy Filings by District

Here is a great chart on 2010 filings by district, created by Prof. Bob Lawless.  His entire article and many others can be found at Creditslips.com.  Remember, the Central District is up 45% for this year. 

May 16, 2010 in Bankruptcy Statistics | Permalink | Comments (0) | TrackBack