June 4, 2011
Thomson Reuters News & Insight
Subject: [bank-sub-committee] sheri_bluebond@####### has shared:
I guess we didn't manage to kill this.
Thomson Reuters News & Insight
"California's Assembly approved a bill on Thursday that would require local governments to go into mediation before they could file for bankruptcy, an option some have discussed after Vallejo became the state's biggest city to seek bankruptcy protection."
United States Bankruptcy Court - Central District of California
Edward R. Roybal Federal Building and Courthouse
255 E. Temple Street, Suite 1482 / Courtroom 1475
Los Angeles, CA 90012
San Fernando Valley Bar Association
The San Fernando Valley Bar Association is at it again. Its Business/Bankruptcy/Real Property section is presenting four brief topics of interest to bankruptcy practitioners. Louis Esbin and Steven R. Fox are the speakers. They will present brief topics of interest to bankruptcy attorneys and, as is usual, attendees will add to the presentations. The program is set for Wednesday, June 8th at 12:00 noon. The program will conclude by 1:15 p.m. to allow attorneys to attend hearings at the Woodland Hills Bankruptcy Court two blocks away.
The four topics are:
1. Individual Discharge in Chapter 11 Case Prior to Plan Payments Being Completed. One of the speakers recently obtained an early discharge. The brief (it covers the issues and cites cases) will be given out to attendees.
2. The Means Test. Going beyond the software with some neat ideas. Bring your own ideas as well.
3. When Attorneys Are Held Liable for Errors in the Petition and Schedules. This is a minefield for attorneys with new penalties under BAPCPA.
4. Exemption Planning Under the Dark Light of BAPCPA. Attorney Louis Esbin, who has spent a lot of time with exemption issues will be addressing this issue.
If time permits, the speakers will also discuss the absolute priority rule for individuals in chapter 11 and the ongoing split in case law. If you do chapter 11 work, this is a new (and real) problem.
The speakers are well experienced. Even better, the audience is typically filled with experienced bankruptcy attorneys who make valuable contributions to the program. I encourage you to attend and to also sign up any associates you have.
To make a reservation and to pay, call Linda Temkin at the San Fernando Valley Bar Association at (818) 227-0494 x105. A lunch is provided. The charges are listed below.
Event: Bus: Update on Selected BAPCPA Issues
Start Date: 6/8/2011 12:00 PM
End Date: 6/8/2011 1:00 PM
Location: SFVBA, 21250 Califa St. Suite 113, Woodland Hills
Member at Door $40.00
Non-Member at Door $50.00
Credit Hours: General 1 hrs
Steven R. Fox
June 3, 2011
Call for Papers Regulation in the Fringe Economy
Here is an opportunity for law professors or other authors who may be working on a paper on “fringe economy” credit and its regulation. Washington & Lee Law Review is asking for paper submissions by Aug. 15 to be considered for inclusion in a symposium issue and presentation at a conference in Lexington, Va., on Nov. 11.
--Jean Braucher, University of Arizona
The symposium Regulation in the Fringe Economy represents the most significant attempt to date by legal scholars to address the vexing legal and social issues created by lenders on the fringes of the economy who offer payday, auto title, for-profit college, and refund anticipation loans. A complete list of confirmed participants and their paper topics is available at the conference website: http://law.wlu.edu/fringe.
The Frances Lewis Law Center and the Washington and Lee Law Review are delighted to sponsor this conference which will take place on November 11, 2011 at the Washington and Lee University School of Law in Lexington, Virginia. The Washington and Lee Law Review will publish a symposium issue featuring the conference papers in 2012.
The sponsors’ goal is to encourage and recognize excellent legal scholarship in this area. To advance their goal, the sponsors invite lawyers, judges, and scholars to submit papers on regulation in the fringe economy. Papers on related high-risk consumer financial products are also encouraged. An author should submit his or her manuscript in an exclusive submission on or before August 15, 2011. A submission should be no longer than 50 pages or 15,000 words. A limited number of submissions will be accepted. Authors will be notified of the acceptance of their paper and participation in the symposium no later than August 20, 2011.
Selected authors will present their papers at the November 11 conference. All participants are asked to provide their own travel expenses. Papers specifying the conference may be mailed to the Washington and Lee Law Review or sent electronically to firstname.lastname@example.org. The Law Review Articles Editors and Washington and Lee University School of Law Professor Margaret Howard will review the papers.
Even if you are not able to submit a paper, the sponsors invite you to attend the conference. There will be no charge for attending. The Frances Lewis Law Center is a licensed Virginia Continuing Legal Education provider which will supply Virginia CLE credit for those attending.
Mallory A. Sullivan -- Symposium Editor, Washington and Lee Law Review
Christine M. Shepard -- Editor in Chief, Washington and Lee Law Review
Amendment to Title 11?
On May 26th, Sen. Durbin (D-IL) introduced S.1102 a bill to amend Title 11 with respect to certain exemptions to discharge in bankruptcy.
The bill is Durbin's previously introduced, in other Congresses, student loan in discharge bill.
According to Durbin's statement, the bill restores fairness in student lending by treating privately issued student loans in bankruptcy the same as other types of private debt.
U.S. Senators Durbin was joined in the Senate by Sens. Whitehouse (D-RI) and Franken (D-MN) with a companion measure (HR 2028) in the House sponsored by Reps. Cohen (D-TN), Davis (D-IL), Miller (D-CA) and Conyers (D-MI).
June 2, 2011
The Honorable Michael S. McManus denied the U.S. Trustee's Motion to Dismiss a legally married same-sex couple's Chapter 7 case. The UST moved to dismiss alleging that the Debtors' joint petition was improper and unauthorized because the term "spouse" as defined by the Defense of Marriage Act's (DOMA) is limited to a person of the opposite sex.
Read the ruling here: Download MTD order
May 31, 2011
Feds look to give trustees more power
"Federal legislation introduced last week is giving credence to a battle being fought
in Middle Tennessee by bankruptcy trustee Henry "Hank" Hildebrand.
Hildebrand was the subject of a Friday story related to a growing movement across
the country: Judges and debtors who force mortgage companies to produce a physical
note before foreclosing on a home.
Because in Tennessee judges aren't involved in the foreclosure process, it's been
bankruptcy trustees here who have been fighting that battle instead.
In Middle Tennessee, Hildebrand said he's had about 60 cases this year where a
lender couldn't produce the actual note, though he is seeing some movement towards
The legislation, introduced by Sen. Patrick Leahy, D-Vt., would give the
U.S. Trustee Program, the arm of the Justice Department that oversees foreclosures,
the power to sanction servicers and lenders who submit false claims, overstate
what's owed or don't produce proper documentation."
May 30, 2011
Schulte Roth & Zabel News: U.S. Bankruptcy Judge rules in favor of JANA Partners vs. former clients of Marc Dreier
I’m writing to share with you the news that a U.S. bankruptcy judge has ruled in favor
of the hedge fund JANA Partners LLC in its defense against claims from former clients
of disbarred attorney Marc Dreier. The court ruled that former clients of Marc Dreier
bore the risks of their fraudulent agent when Dreier forged a signature on settlement
documents between his client and the hedge fund JANA.
Schulte Roth & Zabel LLP served as outside legal counsel to JANA Partners LLC;
the team was led by litigation partner Michael E. Swartz, whose practice focuses on
complex commercial, securities and business litigation and antitrust, and of counsel,
Nicole Z. Davidson.
Please let me know if you’d be interested in speaking with Michael Swartz of Schulte
Roth & Zabel. I’m happy to provide you with a copy of the ruling and any additional
All the Best,
Listed in 25 Best Blogs for Bankruptcy
I posted an article, "The 25 Best Blogs for Dealing With Bankruptcy" (http://www.accountingdegree.com/blog/2011/the-25-best-blogs-for-dealing-with-bankruptcy/). I just thought I'd share it with you in case you thought it would appeal to your readers.
I am happy to let you know that your site has been included in this list.
Thanks for time!