Action by Three Courts Required to Settle an Appeal in the Circuit Court
Bankruptcy court approval isn’t enough to settle an appeal in the circuit court.
Judge Name - Do not use it.
Kenneth Francis Ripple
%1
Journal Issue
Bankruptcy Code
Bankruptcy Rule
Judge Finds Several Reasons to Relieve Debtor of Counsel’s Mistake
If a chapter 13 plan was mistakenly five years, no cause is required to shorten it to three years.
Judge Name - Do not use it.
Mark A. Randon
Courts Split on Retention of Property on Individual’s Conversion from Chapter 11 to 7
Ninth Circuit BAP is a better venue for individuals converting from ‘11’ to ‘7.’
Judge Name - Do not use it.
W. Homer Drake Jr., Elizabeth Manger
Creditors Get Personal Injury Proceeds Although ‘Commitment Period’ Expired
Voluntary five-year commitment period sticks the debtor with its burdens, judge holds.
Judge Name - Do not use it.
W. Keith Watkins
Breach of Corporate Fiduciary Duty Is Not Automatically Nondischargeable
‘Fiduciary duty’ is more narrowly defined in Section 523(a)(4) than in corporate law.
Judge Name - Do not use it.
Joseph N. Callaway
Claim Deadline Also Applies to Secured Creditors in Chapter 13, Judge Holds
Although not required to file claims, secured creditors must comply with the deadline if they do.
Judge Name - Do not use it.
Mary Ann Whipple
Debtor Still Protected by Automatic Stay Even after Right of Redemption Terminates
Ninth Circuit’s Tracht Gut opinion limited to its facts by the BAP.
Judge Name - Do not use it.
Meredith A. Jury
January Total Bankruptcy Filings Up 5 Percent from 2016, First Consecutive Monthly Year-over-Year Increases Since 2010
Total U.S. bankruptcy filings increased 5 percent in January 2017 from the same period last year, according to data provided by Epiq Systems, Inc. Bankruptcy filings totaled 55,212 in January 2017, up from the January 2016 total of 52,560. With the total filings in both December 2016 and January 2017 increasing 5 percent over the previous year, total bankruptcies registered back-to-back monthly gains for the first time since 2010. Consumer filings also increased 5 percent in January 2017 to 52,421 from the January 2016 consumer filing total of 49,733. Total commercial filings decreased slightly in January 2017 to 2,791, representing a 1 percent decrease from the 2,827 business filings recorded in January 2016. The 398 total commercial chapter 11 filings in January 2017 represented a decrease of 19 percent from January 2016’s total of 494.
Judge Discharges Bankruptcy After 50 Cent Pays $22 Million
A federal judge has discharged rapper 50 Cent's bankruptcy case after he paid more than $22 million, the Associated Press reported yesterday. Bankruptcy Judge Ann Nevins approved the discharge Thursday in Hartford, Connecticut. The rapper who burst onto the music scene in 2003 with his debut album, "Get Rich or Die Tryin," filed for chapter 11 reorganization in 2015, citing debts of $36 million and assets of less than $20 million. Nevins approved a plan in July calling for 50 Cent, whose real name is Curtis Jackson III, to pay back about $23 million. Jackson's lawyers said yesterday that he paid off the five-year plan early with $8.7 million of his own money and $13.65 million he received in a recent settlement of a legal malpractice lawsuit against other attorneys.