Professional Compensation/Fees

No Need for Chapter 11 Sub V Trustees

UST should provide data on the fees charged by sub V trustees and what they did for the case to justify their needless fee Business Shmuel Klein SHMUEL.KLEIN@VERIZON.NET law office of shmuel klein

The Shrinking Practice

The state of the bankruptcy bar and why it's shrinking. In the past 2 years, our 3-person panel has taken over 5 other law practices. Three practitioners retired. One died. One simply wanted to get out of the bankruptcy practice area. Many more exits are on the horizon.

It's important to understand how to take over another attorney's practice effectively, efficiently, and ethically. We are compelled to give clients options, but also have a duty to ensure they will continue to have cost-effective representation. It's also essential that those of us in the practice NOW are taking the appropriate steps in succession planning to make these transitions smooth.

We will discuss why we think people are getting out, why now, and what we can do to ensure we continue to have provide quality legal services in the practice of bankruptcy law. What steps must be taken under the guidance of the OCDC to efficiently and effectively take over a law practice. Consumer Suggested Speakers Betsy Lynch blynch@chinnery.com Chinnery Evans & Nail, PC

Trustees’ Commissions Are Based on Distributions Made to Co-Owners of Property Sold

Bankruptcy courts are divided on whether the calculation of a trustee’s commissions includes distributions made to co-owners of property that the trustee has sold.

U.S. Restructuring Outlook: Third-Party Litigation Financing

In the past decade, third-party litigation financing (TPLF) — an arrangement where a nonparty funder provides financing for the prosecution of a lawsuit in exchange for an interest in the potential recoveries — has become increasingly accessible in the U.S. In the bankruptcy context, where a debtor’s estate may otherwise have limited resources to pursue valuable causes of action, the availability of TPLF provides restructuring professionals with a key tool to improve litigation outcomes and maximize the value of estate assets in the face of liquidity constraints.

Supreme Court Round-Up

Chapter 13 Pre- and Post-Confirmation Issues