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Bankruptcy

A Texas Bankruptcy Lawyer's Blog

Case updates and commentary of interest to Texas bankruptcy lawyers.
By Stephen Sather

Post Frequency: 1.1/day

Last Entry: September 30, 2020 at 11:22:00

Fifth Circuit Doesn't Save the Save Our Springs Alliance But Time May

Posted on January 29, 2011
Another chapter in the Austin development wars has played out as the Fifth Circuit affirmed the Bankruptcy Court ruling denying confirmation of the plan of reorganization proposed by the Save Our Springs (SOS) Alliance, Inc. Matter of Save Our Springs (SOS) Alliance, Inc...

Antone's Records: A Tragedy in Three Acts and 46 Pages

Posted on January 26, 2011
Austin prides itself on being the Live Music Capital of the World. While many musicians travel to Austin with stars in their eyes, the reality is that it is difficult to earn a living in the music business, either as an artist or an independent record label...

Fifth Circuit Adopts Literal Reading of Exemption Statute

Posted on January 22, 2011
One of the reforms adopted by BAPCPA was to increase the amount of time a person had to spend in a state before he could take advantage of that state's exemptions. Under 11 U.S.C. Sec. 522(b)(3)(A), a person must live in a state for 730 days to claim that state's exemptions...

Bankruptcy, BAPCPA and the Social Contract

Posted on January 20, 2011
Once upon a time, I had a client tell me that he loathed bankruptcy because bankruptcy was socialism and he only believed in market solutions. While his use of terminology was imprecise, it is beyond dispute that bankruptcy represents government changing the terms of privately negotiated contracts...

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Third Circuit Holds That Attorney Letter Can Form Basis for FDCPA Claim

Posted on January 15, 2011
A new opinion from the Third Circuit Court of Appeals could lead to more claims under the Fair Debt Collection Practices Act being filed in Bankruptcy Court. Allen v. LaSalle Bank, N.A., No. 09-1466 (3rd Cir. 1/12/11) held that correspondence from a debt collector to a consumer?s attorney could be actionable under the FDCPA...

Supreme Court Rules That Debtor Must Have Loan or Lease Payment for Means Test Deduction

Posted on January 11, 2011
In an 8-1 decision authored by Justice Kagan, the Supreme Court ruled today that an ownership expense is not "applicable" under the Means Test unless the Debtor has an actual payment. Ransom v. FIA Card Services, No. 09-907 (1/11/11). You can read the opinion here...

From Bankruptcy Trustee to Orthodox Priest

Posted on January 07, 2011
As a bankruptcy lawyer and trustee, Ronald Ingalls helped troubled debtors absolve their financial sins. As Father Methodios Ronald Ingalls, he will now be able to deal with sins of a broader nature. Today, on January 6, 2011, Ronald Ingalls was ordained to the Holy Priesthood of the Antiochian Orthodox Church...

Diocese of Milwaukee Seeks Chapter 11 Protection From Sexual Abuse Claims

Posted on January 05, 2011
The Diocese of Milwaukee filed a petition for chapter 11 relief on January 4, 2011 after twenty years of dealing with sexual abuse claims and an unfavorable ruling on its insurance coverage. In re Diocese of Milwaukee, Case No. 11-20059 (Bankr. E.D...

Judge Rules That Home is Where the Heart Is

Posted on January 04, 2011
In 2000, Natalie Portman starred in "Where the Heart Is," a movie about a pregnant 17 year old girl who makes her home in a Walmart. Judge Stacey Jernigan recently had to decide a quite different case about home and the heart. The case involved whether a modern day cowpoke's heart was down on the ranch or in town in his wife's bedroom...

Supreme Court Grapples With the Meaning of the Means Test

Posted on December 16, 2010
The first case argued before the Supreme Court this term was No. 09-907, Ransom v. FIA Card Services, N.A. You can find the transcript of the oral argument here. This case raises the issue of whether Courts should give the means test a literal interpretation or follow a more functional approach...

What Do Circuit Judges Do? Not Much of it is Bankruptcy

Posted on November 29, 2010
A new report from the Fifth Circuit offers some interesting statistics on the work of the court of appeals. You can find the report here. During Fiscal Year 2010, the Court received 7,337 new appeals, just 1.1% of which were bankruptcy appeals. Nearly 64% of the appeals filed were either criminal or prisoner appeals...

Attorney Pays Steep Price for Unauthorized Filing

Posted on November 27, 2010
When dealing with the Soviet Union, Ronald Reagan famously quoted the Russian proverb "trust but verify." An experienced bankruptcy lawyer from Las Vegas would have avoided a lot of trouble if he had heeded this advice. In re Blue Pine Group, Inc...

Debtor Wins Big Damages in Fraudulent Conveyance Case

Posted on November 17, 2010
When fraudulent transfer claims arise in bankruptcy, the debtor is usually accused of being the dishonest transferor. However, in a recent case from Chief U.S. Bankruptcy Judge Ronald King, the Debtor successfully pursued a claim against her disbarred ex-husband...

Fifth Circuit Protects Texas Tax Lien Purchasers

Posted on November 13, 2010
In a case where private enterprise meets governmental finance, the Fifth Circuit has ruled that purchasers of Texas tax liens are protected from having their contractual interest rates modified in a plan. Tax Ease Funding, LP v. Thompson, et al, No. 09-20777 (5th Cir...

Bankruptcy Map Gives New Meaning to "Red" States

Posted on November 08, 2010
A map showing Bankruptcy Filings Per Capita gives new meaning to the term "Red State." The map prepared by the Administrative Office of the United States Courts analyzes bankruptcy filings per capita for each of the nation's counties for the year ending September 30, 2010...

Unhappily Ever After: Family Law Issues in Bankruptcy

Posted on November 01, 2010
This paper was originally presented to the West Texas Bankruptcy Institute on October 29, 2010.Love and marriage,Love and marriageGo togetherLike a horse and carriageThis I tell you brotherYou can't have one without the other --Frank Sinatra While love and marriage may go together, divorce and bankruptcy are frequently companions as well...

200th Post!!!

Posted on November 01, 2010
This blog began on June 2, 2006 with a post entitled Supreme Court Rules in Favor of Federal Jurisdiction in Anna Nicole Smith Case; Few Prurient Details in Opinion. Now, 1,613 days later (a number which does not appear in BAPCPA), I am on my 200th post...

New Opinion Raises Difficult Questions on Adequate Protection

Posted on October 31, 2010
A new opinion in the Scopac case raises difficult questions about adequate protection. In Matter of Scopac, No. 09-40307 (5th Cir. 10/19/10), which can be found here, the Fifth Circuit ruled that secured creditors were entitled to a super priority claim for failure of adequate protection even though its pre-petition collateral had appreciated in value during the case...

Schwab v. Reilly Places Homesteads at Risk Years After Filing

Posted on October 28, 2010
A new opinion from the Ninth Circuit illustrates the practical implications of Schwab v. Reilly, 130 S.Ct. 2652 (2010). In Matter of Gebhart, No. 07-16769 (9th Cir. 9/14/10), the Court held that the Trustee was entitled to reap the benefits of post-petition appreciation in the Debtor?s homestead...

Second Circuit Holds That FDCPA Does Not Apply to Proof of Claim in Bankruptcy

Posted on October 17, 2010
The Second Circuit has held that an allegedly inflated proof of claim cannot form the basis for a claim under the Fair Debt Collection Practices Act. Simmons v. Roundup Funding, No. 09-4984 (2nd Cir. 10/5/10). The opinion can be found here. In Simmons, Roundup Funding filed a proof of claim for $2,039...

Highlights from the National Conference of Bankruptcy Judges Day 3

Posted on October 16, 2010
I only attended two panels today before heading for the airport, so this post will be considerably shorter than the previous ones.EthicsThe panel on To Tweet or Not to Tweet: Ethical Issues in Utilizing Social Networking Tools provided the all important ethics credit...

Highlights from the National Conference of Bankruptcy Judges Day 2

Posted on October 16, 2010
I started my day with a jog through New Orleans at sunrise. The Bernstein Law Firm from Pittsburgh sponsored the run. I managed to complete the run, although I was not moving very fast. My time may have had something to do with last night?s entertainment...

Highlights from the National Conference of Bankruptcy Judges Day 1

Posted on October 15, 2010
I am attending the National Conference of Bankruptcy Judges meeting in New Orleans this week. Here are some highlights. Lawrence P. King AwardThe Commercial Law League of America presented the Lawrence P. King Award to Judge Burton Lifland from the Southern District of New York...

"The Document Speaks for Itself." Or Does It?

Posted on October 04, 2010
I just received this memorandum from Judge Pat E. Morgenstern-Clarren of the Northern District of Ohio and thought it was worth passing along.M E M O R A N D U MTO: All attorneys with bankruptcy cases on my docketFROM: Judge Pat E. Morgenstern-ClarrenDATE: October 4, 2010SUBJECT: ?The document speaks for itself...

Best & Worst Posts of the Past Four Years: Looking for Reader Input

Posted on September 27, 2010
After four years of blogging, I am approaching my 200th post. I was planning to do a retrospective on my ten favorite posts. However, I think it would be even more interesting to hear what you, the readers, think. Please send me your nominations for best posts...

Escorts Read Bankruptcy Blogs

Posted on September 26, 2010
The latest trend which has turned up in the comments is thoughtful responses from women identifying themselves as escorts. Here is a sample:It was extremely interesting for me to read that post. Thanx for it. I like such topics and everything that is connected to them...

Pres. Obama Taps Liz Warren to Launch Consumer Financial Protection Bureau

Posted on September 20, 2010
Last Friday, President Obama tapped Harvard Prof. Elizabeth Warren to be a Special Assistant to the President to help launch the Consumer Financial Protection Bureau. If the only thing that I knew about her was that she was a Harvard professor, I might wonder if she was some ivory tower academic...

Fifth Circuit Muddles Judicial Estoppel; En Banc Review Needed

Posted on September 19, 2010
In a new opinion, the Fifth Circuit has taken a big step backward in sorting out the doctrine of judicial estoppel. Reed v. City of Arlington, No. 08-11098 (5th Cir. 9/16/10). While adopting the principle that one panel of the Fifth Circuit cannot overrule another one, the opinion appears to be inconsistent with the Fifth Circuit's most recent prior ruling on judicial estoppel, thus indicating the need for en banc review...

Jernigan on Reaffirmations

Posted on September 13, 2010
I hate reaffirmation agreements. They are way too complicated under BAPCPA and consume way too much time. However, Judge Stacy Jernigan has written a 22 page opinion that explains everything you would ever want to know about reaffirmations. In re Grisham, No...

Bankruptcy Court Predicts Fifth Circuit Will Adopt Broad View of Statement of Financial Condition

Posted on September 06, 2010
Section 523(a)(2) is a Code section which is very familiar to most experienced practitioners, but still can be tricky. In particular, the distinction between statements regarding financial condition and all other fraudulent statements has prompted disagreement among the courts...

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