In January, 2016 the Ninth Circuit Court of Appeals in Zachary v. California Bank and Trust ruled that the Absolute Priority Rule still applies to individual Chapter 11 reorganizations after the Bankruptcy Code was amended in 2005. This ruling means
For the past five years, Richard Marshack of Marshack Hays LLP and Kelly Zinser of Zinser Law Group have proudly lead the fundraising effort for the Public Law Center’s pro bono Bankruptcy Programs. PLC runs bankruptcy and reaffirmation clinics to
With the recent downturn in the economy and depressed housing market, many individuals have turned to bankruptcy for a possible fresh start. Bankruptcy law also frequently intersects with other areas of commercial law and attorneys from various practice areas are
Do inherited IRAs constitute “retirement funds” that may be exempted from a bankruptcy estate? This issue causes some consternation among bankruptcy trustees when debtors assert exemption claims on money they receive as an inheritance—money that they did not set aside
When a debtor re-files a bankruptcy petition within a year of dismissal, §362(c)(3)(A) ((Unless stated otherwise, all section references are to the Bankruptcy Code, 11 U.S.C. §§101-1330.)) provides that the automatic stay “shall terminate with respect to the debtor” thirty
In re Nicholson: Preponderance of Evidence Will Get Exemption Claim Denied When Filed in Bad Faith Trustee’s often face a procedural quagmire where debtors fail to accurately list or value assets and then seek to amend schedules and claims of
In a prior post, I began a review of when beneficial interests under spendthrift trusts may be reached as property of the estate in the Ninth Circuit. Today I’ll look more closely at the decisions in In re Spencer ((306
Spendthrift Trusts that benefit debtors can raise tricky issues for bankruptcy lawyers and trustees, especially in California where spendthrift protection for beneficiaries is limited to 75% of the payments they would receive, leaving 25% available for recovery by a bankruptcy
Ahcom, Ltd. and Shaoxing – The Race To Dismember Corporate Principals Begins The recent Ninth Circuit case of Ahcom, Ltd. v. Hendrik Smeding, et al., (9th Cir. 2010) 623 F.3d 1248, surprised many bankruptcy lawyers with its holding that a
The 9th Circuit Allows Bankruptcy Trustee To Reach Assets Held In Two Weathered Trusts The recent 9th Circuit Schwarzkopf opinion ((Robert L. Goodrich v. Juan Briones (In Re: Alexis Hill Schwarzkopf), No. 08-56974, (Nov. 23, 2010, 9th Cir); 2010 U.S.
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