Courts Disagree on a Trustee’s Ability to Use the IRS’s Longer Statute of Limitations
Two or three years from now, the Tenth Circuit may have a chance to agree or disagree with the Fifth Circuit on an important question under Section 544(b).
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Debtors May Wind Up Operations in Chapter 12 and Farm Through LLCs
Judge Somers wrote two opinions on debtors’ eligibility to reorganize in chapter 12.
Chapter 13 Debtors Keep Windfalls with No Connection to Assets on the Filing Date
Taking sides with the minority on a split, bankruptcy judges in Kansas allow chapter 13 debtors to retain windfalls acquired after filing.
Deeply Subordinated Creditor Barred from Voting or Objecting to Plan Confirmation
Subordination agreement did not transfer voting rights, but prudential standing nevertheless barred the subordinated creditor from participating in confirmation, Judge Somers says.
Earmarking Seems to Be a Dead Letter in the Tenth Circuit
BAP says the Tenth Circuit adopts legal fictions to create preferences.
Judge Name - Do not use it.
Dale L. Somers
Gift Cards Can’t Be Exempt Because They’re the Same as Nonexempt Cash
Pre-bankruptcy planning was ‘creative’ but didn’t succeed in enlarging the debtor’s exemptions.
Judge Name - Do not use it.
Dale L. Somers
Discrimination in Favor of Student Loans Makes Plan Fatally Defective
Bad policy choice in chapter 13 is an issue for Congress, not the courts, judge says.
Judge Name - Do not use it.
Dale L. Somers