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ABI Journal

August 04, 2020

Asset Exempt in Chapter 13 Retains the Exemption After Conversion, First Circuit Says

Circuit split is eroding on the loss of a homestead exemption for failing to reinvest proceeds from a sale after filing.

1st Circuit

July 08, 2020

Disclosing a Lawsuit Only in the SOFA Won’t Result in Abandonment, BAP Says

Disclosing a lawsuit in the SOFA and discussing the suit with the trustee is no substitute for listing the suit among a debtor’s assets, the Ninth Circuit BAP says.

9th Circuit

June 23, 2020

New York Decision Shows that Merit Management Is a Dead Letter

The expansive definition of a ‘financial institution’ allows fraudulent transfers to be structured so that no one will ever be held liable.

2nd Circuit, New York, New York Southern District

June 01, 2020

District Judge Rejects the Majority’s ‘Gotcha’ Approach to Automatic Abandonment

Sufficiently listing an asset anywhere in the schedules and SOFA will result in abandonment if the asset was not administered by the trustee, Utah district judge holds.

10th Circuit, Utah

May 22, 2020

An Exempt Asset Effectively Loses Its Exemption in Chapter 13

Lower courts are split on whether an exempt asset is included in the calculation of “projected disposable income” in chapter 13.

10th Circuit, Colorado

May 11, 2020

Second Circuit Rides to the Rescue of a GM Lawyer Who Made a Big Mistake

A mistake by a lawyer isn’t “deliberate” and therefore can’t be a judicial admission.

2nd Circuit

April 23, 2020

Chapter 13 Debtor Can’t Keep Postpetition Appreciation in Value of Stock Options

Two recent decisions by the 9th Circuit BAP seem in conflict on a chapter 13 debtor’s ability to retain appreciation in the value of assets.

9th Circuit

March 26, 2020

Ninth Circuit Creates a Legal Fiction to Uphold Recovery of an Unauthorized Transfer

Ninth Circuit assumed that transferred property must remain property of the estate after conversion from ‘13’ to ‘7’ before the chapter 7 trustee can avoid an unauthorized transfer under Section 549.

9th Circuit

March 20, 2020

Two Circuits Hold that a Debt Buyer Can Be a ‘Debt Collector’ Under the FDCPA

Even the dissenter in the Ninth Circuit would not let a debt buyer off the hook if the complaint were properly pleaded.

9th Circuit

January 21, 2020

Chapter 13 Debtor Keeps Postpetition Appreciation in Nonexempt Property, BAP Says

Courts are split on whether creditors in chapter 13 are entitled to the postpetition appreciation in a debtor’s property.

9th Circuit