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Attached is the Declaration of Charles Kurth, CFO of Mervyn's which is designed to support the first day motions filed by the debtor. This declaration is not as useful as is usually the case. There is not really a lot...
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I was on the freeway heading to Riverside (through Chino Hills - the epi-center) when the earthquake hit. I felt nothing. I got off the freeway to get some water and the store I stopped at had a sign which...
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Statistics nuts will love this spreadsheet - 201 rows down and about 60 columns across. Collections and distributions by trustee, by category of distribution. $5.1 billion in debtor payments for the fiscal year 2007. $2.8 billion went to secured creditors,...
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Schwab v. Reilly (In re Reilly) --- F.3d ---, 2008 WL 2789550 (3rd Cir., July, 2008) Issue: When the debtor lists an asset on Schedule B at a certain amount and then lists the same asset as exempt on Schedule...
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1st Circuit Court of Appeals, July 23, 2008 In re Arch Wireless, Inc., --- F.3d ---, 2008 WL 2814798 (1st Cir 2008)(creditor may proceed in spite of chapter 11 discharge because creditor did not receive proper notice) 2nd Circuit Court...
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In the San Fernando Valley, north of Los Angeles, where I live the foreclosures are sizzling. According to the Daily News, there were 803 foreclosure sales in June, 08 compared to 263 in July, 07. There were 2,084 foreclosure sales...
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Harvard Professor Elizabeth Bartholt's testimony before the US Senate on July 23, 2008 gives a fascinating look at the reality of arbitration clauses in employment contracts and credit card agreements. She testifies that she herself was an arbitrator for a...
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80 pages of statistics and I didn't bring my advil this morning. The report prepared by something called "Office of Judges Programs, Statistics Division, Administrative Office of the United States Courts" can be found here. Five attorneys were sanctioned for...
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This is a great article by a young Harvard fellow, Michael Simkovic, which establishes with empirical data that bankruptcy filings are down because of the amendments, credit card profits are up hugely since the amendments, and credit card companies have...
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The firm of Sonnenschein Nath & Rosenthal which represented the Creditor's Committee for the month before the chapter 11 case was converted to chapter 7 has filed a fee application seeking $235,000 in fees. GMAC has objected to the application...
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5th Circuit Court of Appeals, July 14, 2008 Kane v. Nat'l Union Fire Ins. Co., --- F.3d --- 2008 WL 2721157 (5th Cir. 2008)(trustee is real party in interest in pending non-bankruptcy action and has not abandoned the asset) 6th...
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As long as they spell your name right is what I always say. The NLJ Article on Kagenveama can be accessed here. There is a great quote from the Chapter 13 guru, Judge Keith Lundin: "[Kagenveama] is a huge message...
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According to the Los Angeles Daily News, Countrywide has agreed to pay Western Pennsylvania chapter 13 trustee Rhonda Winnecour $325,000 as a settlement for an action she filed against Countrywide seeking sanctions. Countrywide was charging borrowers improper fees and was...
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According to troubledcompanyreporter.com, the Bankruptcy Court in Delaware, Judge Kevin Carey, denied a motion to approve DIP Financing for Landsource based in part on the objection of the unsecured creditors committee, represented by Laura Jones of the Pachulski, Stang firm....
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Mr. White's remarks can be found here. One surprising comment is that the UST audits, while they were conducting them full blast in fiscal year 2007, found "at least one material misstatement" in 30% of the cases. I assume that...
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The Ninth Circuit Judicial Conference is scheduled to take place on July 28-31 at the Sun Valley Inn and Lodge. Supreme Court Justice Anthony Kennedy will be one of the speakers as well as Paul Clement, until recently, the Solicitor...
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5th Circuit Court of Appeals, July 08, 2008 In re Hilal, --- F.3d ---, 2008 WL 2655796 (5th Cir. 2008)(appeal not moot even though chapter 11 plan substantially consummated) 5th Circuit Court of Appeals, July 10, 2008 In Re Enron...
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Dear Insolvency Law Committee Constituency List Members: Governor Schwarzenegger signed legislation on July 8, 2008, effective immediately, regarding all California residential mortgage foreclosures. Civil Code sections 2923.5, 2923.6, 2924.8 and 2929.3 and Code of Civil Procedure section 1161b are added...
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This is a pretty fun 40 second clip from the dating game a long time ago.
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Hello Fellow Alums I am a 2003 UWLA graduate and the legal coordinator for the Thomas Mesereau-Ephriam-Villaraigosa Free Legal Clinic. I am extending to all students and alum the opportunity to come out and share your legal expertise, brush up...
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The man was my idol; the absolute best make-the-play-no-matter-what quarterback. Maybe I will learn something from his chapter 11 case. Vick filed chapter 11 in the Eastern District of Virgina yesterday, case no. 08-50775-FJS. His address is listed as Michael...
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This looks like a really useful website for chapter 13 practitioners, www.considerchapter13.org . Retired Bankruptcy Judge Tom Waldron is the spearhead of the organization with the title "Academy Adviser."
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3rd Circuit Court of Appeals, June 24, 2008 In re Mansaray-Ruffin, --- F. 3d ---, 2008 WL 2498048 (3rd Cir. 2008)(Chapter 13 plan did not invalidate lien, adversary proceeding required) 4th Circuit Court of Appeals, June 25, 2008 Tidewater Fin....
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The National Association of Chapter 13 Trustees is holding its Annual Meeting next week in San Francisco. The brochure is attached here.
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Thanks to Prof. Katie Porter post on Credit Slips for this information. Tennessee has passed a law banning credit card solicitation on college campuses or using school facilities or student organization to solicit for credit cards or from offering gifts...