27th Annual Mid-Atlantic Institute on Bankruptcy and Reorganization Practice Seminar Materials - SALE!

Publication Date: September 2012
Available Formats: Print
Pages: 430

Information

Content Summary:

  • Recent Developments in Bankruptcy Law
  • Pre-Bankruptcy Planning: Why You Must Do It: How You (Or Your Client) Can Get in Trouble
  • Update on The Aftermath of Stern v. Marshall
  • The Scope and Implications of Stern v. Marshall, 131 S. Ct. 2594 (2011)
  • Proposed Amendments to Federal Rules of Bankruptcy Procedure
  • The House (And Mortgage) That No One Wants
  • New Proof of Claim and Mortgage Rules And Forms
  • Avoidance of Liens Under 11 U.S.C. §§ 522, 547, and 550
  • In Re Tousa, Inc.: Real Debt, Wrong Payor, and Fraudulent Transfer Liability
  • The Daubert Challenge: Plan Confirmation and Solvency Valuation Experts
  • Notices, Exemptions and The Computation of Time: Recent Developments Involving Bankruptcy Rules 2002, 4003 And 9006
  • Review Of Court Decisions Addressing Bankruptcy Rules 3002, 3004, 3004 (Filing Proofs Of Claims) and Bankruptcy Rule 4002 (The Duties Of Debtors)
  • Practical Considerations For Bad Addresses in Bankruptcy
  • Service Under Bankruptcy Rule 7004 of Adversary Proceedings and Contested Matters
  • Limited Liability Companies and Alternative Non-Corporate Entities in Bankruptcy
  • Judges’ Panel On Chapter 7, 11, and 13 Issues
  • Chapter 11 Panel Discussion

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Expert analysis on the year’s most important bankruptcy topics.

This comprehensive, stand-alone publication is direct from a September 2012 seminar, the region's premier comprehensive bankruptcy law program.  It is available in print or searchable PDF via download, USB Flash Drive, or CD-ROM. Click here for more information on electronic books.

Table of Contents

TABLE OF CONTENTS

27th Annual Mid Atlantic Institute on
Bankruptcy and Reorganization Practice


RECENT DEVELOPMENTS IN BANKRUPTCY LAW
Hon. Frank J. Santoro
Kelly M. Barnhart
W. Calvin Smith


PRE-BANKRUPTCY PLANNING: WHY YOU MUST DO IT:
HOW YOU (OR YOUR CLIENT) CAN GET IN TROUBLE

Hon. David E. Rice
H. David Cox
Joseph A. Guzinski


        I. Introduction
    
        II. Ethical Rules Provisions
    
        III. What Diligence Is Due?
    
        IV. Pre-Bankruptcy Planning and Special Pre-Filing Considerations
    
        V. Specific Examples Converting Nonexempt Assets to Exempt Assets
    
        VI. What Pre-Bankruptcy Planning Lessons Can Be Learned?

UPDATE ON THE AFTERMATH OF STERN V. MARSHALL
S. Elizabeth Gibson
R. Patrick Vance


        Case Law Developments in Response to Stern v. Marshall
    
        I. Oritz v. Aurora Health Care, Inc. (In re Oritz), 665 F.3d 906
        (7th Cir. 2011)
    
        II. Pfizer Inc. v. Law Offices of Peter G. Angelos (in re Quigley Co.), 2012
        WL 1171848 (2d Cir. Apr. 10, 2012)
    
        III. DiVittorio v. HSBC Bank USA, NA (In re DiVittorio), 670 F.3d 273
         (1st Cir. 2012)
    
        IV. Technical Automation Servs. Corp. v. Liberty Surplus Ins. Corp.,
        673 F.3d 399 (5th Cir. 2012)
    
        V. Executive Benefits Ins. Agency v. Arkison (In re Bellingham Ins. Agency,
        Inc.), 661 F.3d 476 (9th Cir. 2011)
    
        Local Rules and Orders in Response to Stern v. Marshall
    
        I. Reference Orders: Souther District of New York, Delaware, Ohio, and
        Florida
    
        II. Proposed Reference Order: Massachusetts
    
        III. Withdrawal of the Reference: Texas
    
        IV. Proposed Local Rule Amendments
    
        Proposed Bankruptcy Rule Amendments

THE SCOPE AND IMPLICATIONS OF STERN V. MARSHALL,
131 S. CT. 2594 (2011)

Michael St. Patrick Baxter
S. Elizabeth Gibson
Randal C. Picker
R. Patrick Vance


        I. The Decision
    
        II. Scope of the Court’s Decision
            A. The Case Law Background
            B. Arguments That the Stern Rationale Applies to Core Proceedings
            Other Than Just State Law Counterclaims Against Creditors
            C. Factors Cautioning Against a Broad Reading of Stern
    
        III. The Validity of Consent After Stern
            A. Introduction
            B. Consent to Non-Article III Adjudication
            C. Sections 157(c)(2) and 636(c)(1): Important or Tenuous
            Analogues
            D. Section 157(c)(2): The Prognosis
        
        IV. Procedural Options for Stern-Type Claims

PROPOSED AMENDMENTS TO FEDERAL RULES OF
BANKRUPTCY PROCEDURE

Michael St. Patrick Baxter

THE HOUSE (AND MORTGAGE) THAT NO ONE WANTS
Hon. William F. Stone, Jr.
Malissa Lambert Giles


        Facts
    
        Part A - The Practical Advice
    
        Part B - The Lender’s Failure to Foreclose and Betty’s Legal Options
        
        Conclusion

NEW PROOF OF CLAIM AND MORTGAGE RULES AND FORMS
Madeline A. Trainor

        Rule 3001 Changes: The Original POC
    
        New Rule 3002.1
    
        Conclusion

AVOIDANCE OF LIENS UNDER 11 U.S.C. §§ 522, 547, AND 550

Malissa Lambert Giles

        I. 11 U.S.C. § 522
            A. Section 522(f)
            B. Pleading by Motion or Plan
            C. When Can the Motion be Filed?
            D. Avoidance of Judicial Liens
            E. Non-Purchase Money Security Interests (i.e. pledged interests)
    
        II. 11 U.S.C. § 547 and § 550
            A. Sections 547 and 550
            B. Section 547 Provides That the Trustee May Not Avoid Certain
            Transfers if Certain Conditions Are Met
            C. Pleading by Complaint
            D. Defenses to Avoidance Actions
            E. Section 550
    
        III. Avoidance of Homeowners Association Liens
            A. In re Young
            B. In re Cook

IN RE TOUSA, INC.: REAL DEBT, WRONG PAYOR, AND
FRAUDULENT TRANSFER LIABILITY

Bradford F. Englander

        I. Introduction
    
        II. The Factual Background of the TOUSA Decision
    
        III. The Bankruptcy Court Decision
            A. Insolvency and Related Financial Tests
            B. Reasonably Equivalent Value With Respect to Liens Granted
            by the Subsidiaries
            C. The Parties For Whose Benefit the Lien Transfers Were Made
            D. Direct Transferee Liability For Fraudulent Transfer of the Borrowed
            Funds to the Transeastern Lenders
            E. Remedies
    
        IV. The District Court Decision
            A. Standard of Review
            B. Direct Transferee Liability of Transeastern Lenders With Respect
            to Payment of Funds at Closing
            C. Determination of Reasonably Equivalent Value
            D. For Whose Benefit the Lien Transfers Were Made
            E. Remedies
    
        V. The Eleventh Circuit Decision
            A. Standard of Review
            B. Reasonably Equivalent Value
            C. Recovery From the Transeastern Lenders as Parties for Whose
            Benefit the Lien Transfers Were Made
            D. Remedies
    
        VI. Conclusions
    
THE DAUBERT CHALLENGE:
PLAN CONFIRMATION AND SOLVENCY VALUATION EXPERTS


        I. Origins of Guidance on Admissibility
    
        II. Risk of a Daubert Challenge
    
        III. Challenges to Financial Experts in Bankruptcy Court
    
        IV. Conclusion

NOTICES, EXEMPTIONS AND THE COMPUTATION OF TIME:
RECENT DEVELOPMENTS INVOLVING BANKRUPTCY RULES
2002, 4003 AND 9006

Craig Goldblatt

        Rule 2002 - Notices
            A. Generally
            B. Relevant Code Provisions
            C. Relationship to Rule 9006
            D. Recent Amendments
            E. Recent Noteworthy Decisions
    
        Rule 4003 - Exemptions
            A. Generally
            B. Relevant Code Provisions
            C. Schwab v. Reilly
            D. Recent Noteworthy Decisions
    
        Rule 9006 - Computing and Extending Time
            A. Generally
            B. Recent Amendments
            C. Recent Noteworthy Decisions

REVIEW OF COURT DECISIONS ADDRESSING BANKRUPTCY RULES
3002, 3004, 3004 (FILING PROOFS OF CLAIMS) AND BANKRUPTCY
RULE 4002 (THE DUTIES OF DEBTORS)

Karen M. Crowley

        Rules 3002, 3004 and 3005 - Filing of Proofs of Claim in Chapter 7
        and Chapter 13  
    
        Rule 4002 - Duties of Debtor
            A. Recitation of Duties in Bankruptcy Rule 4002(a)
    
        Cases Discussing Duties Imposed by Rule 4002

PRACTICAL CONSIDERATIONS FOR BAD ADDRESSES IN BANKRUPTCY
Karen M. Crowley

        Wrong Addresses in Bankruptcy
            A. Duty of Debtor to Provide Correct Address  
            B. Process for Managing Returned Mail  
            C. Process for Managing Mailing Matrixes and Service Lists
            D. New Electronic “Bad Address” Notice Provided by Court
            E. Consequence of Failure to Correct Address

SERVICE UNDER BANKRUPTCY RULE 7004 OF ADVERSARY
PROCEEDINGS AND CONTESTED MATTERS

Hon. Brian F. Kenney

        I. Service Under Rule 7004
            A. What is Covered
            B. Rule 7004(a) - Incorporating Parts of Federal Rule of
            Civil Procedure 4
            C. Bankruptcy Rule 7004(b) - Special Rules for Service
    
        II. Service of Motions to Avoid Liens - Section 522(f)
            A. Rules 7001 and 4003(d)
            B. Redemption of Property From Lien or Sale - Rule 6008
            C. Chapter 13 Plan - Lien Avoidance Under Section 522
    
        III. Service of Objections to Proofs of Claim
            A. The View That Service Must be Accomplished Per Rule 7004
            B. The View That Bankruptcy Rule 3007 Governs

LIMITED LIABILITY COMPANIES AND ALTERNATIVE NON-CORPORATE
ENTITIES IN BANKRUPTCY

Richard C. Maxwell
Richard L. Wasserman


        I. Eligibility to be a Debtor
            A. Applicable Bankruptcy Code Sections
            B. A Partnership is Included Within the Definition of a “Person” That
            May File Bankruptcy
            C. Neither “Limited Liability Company” (“LLC”) Nor “Limited
            Liability Partnership” (“LLP”) is Listed Within the Definition
            of “Person”
    
        II. Voluntary Petitions
            A. Applicable Bankruptcy Code Section
            B. Who Has Authority to File a Voluntary Petition
            C. Venue: Where Can a Case Be Filed
    
        III. Involuntary Petitions
            A. Applicable Bankruptcy Code Section
            B. Application of 11 U.S.C. § 303(b)(3) to a General Partnership
            C. Involuntary Petition 11 U.S.C. § 303(b)(1) or (2)
            D. Application of 11 U.S.C. § 303(b)(3) to an LLP
            E. Application of 11 U.S.C. § (b)(3) to an LLC
    
        IV. Other State Law Issues
            A. Bankruptcy Filing
            B. Partnerships
            C. LLCs
            D. Property of the Estate When a Member or Partner Files
            Bankruptcy
            E. Comments Regarding Fiduciary Duties and Other Liability-Related
            Issues
    
        V. Assumption and Rejection of Operating Agreements in Bankruptcy
            A. Partnership Agreement
            B. Unresolved Issues in a Partnership Agreement
            C. Treatment of an LLC Operating Agreement as an Executory
            Contract
            D. Meiburger v. Endeka Enters., L.L.C.
            E. LLC Operating Agreements
            F. In re American Media Distributors, LLC
            G. Provisions in a Partnership Agreement
    
        VI. Plan Confirmation Issues and Discharge Issues
            A. Plan Issues
            B. Discharge
    
        VII. Other Bankruptcy Issues
            A. Joint Administration
            B. Statement of Personal Assets and Liabilities
            C. Rule § 101(31) of the Bankruptcy Code
            D. Rule § 101(31)(A) of the Bankruptcy Code
    
        VIII. Tax Considerations
            A. General
            B. No New Entity
            C. Short Year Election
            D. Cancellation of Debt Income
            E. Sale of Partnership Interest

JUDGES’ PANEL ON CHAPTER 7, 11, AND 13 ISSUES
Elizabeth L. Gunn
Roy M. Terry, Jr.


        Topic 1: Violation of the Automatic Stay and Damages for Emotional Distress
        In re Seaton, 462 B.R. 582 (Bankr.E.D. Va. 2011)
            I. Facts
            II. Issue
            III. Holding
            IV. Rule
            V. Rationale
    
        Topic 2: § 1129 Confirmation and the Scope of Non-Debtor Releases
        Behrmann v. Nat’l Heritage Found., Inc., 663 F.3d 704 (4th Cir. 2011)
            I. Facts
            II. Procedural History
            III. Issue
            IV. Holding
            V. Rule
            VI. Rationale
    
        Topic 3: § 507(a)(4) Priority for Severance Claims
        Matson v. Alarcon, 651 F.3d 404 (4th Cir. 2011)
            I. Facts
            II. Procedural History
            III. Issue
            IV. Holding
            V. Rationale
    
        Topic 4: Employment Applications and Conflicts of Interest
        In re Circle T Pipeline, Inc., 2011 Bankr. LEXIS 2490 (Bankr. W.D. Va. Apr. 27, 2011)
            I. Background
            II. Holding
            III. Rationale
    
        In re Dickson Properties, LLC, 2012 Bankr. LEXIS 2520 (Bankr. E.D. Va. June 5, 2012)
            I. Background
            II. Holding
            III. Rationale
    
        Topic 5: Creditor’s Obligations in Bankruptcy
        In re Williams-Nobles, 459 B.R. 242 (Bankr. E.D. Va. 2011)
            I. Background
            II. Holding
    
        Johnson v. Cadles of Grassy Meadows, II, (In re Johnson), 466 B.R. 67 (Bankr. E.D.
        Va.)
            I. Background  
            II. Holding
            III. Rationale
    
        Topic 6: Authority to Issue Final Orders vs. Reports and Recommendations
        McCarthy v. Wells Fargo Bank, N.A. (In re El-Atari), 2011 U.S. Dist. LEXIS
        133423 (E.D. Va. Nov. 18, 2011)
            I. Background
            II. Holding
            III. Rationale
    
        Shaia v. Taylor (In re Connelly), 2012 Bankr. LEXIS 1349 (Bankr. E.D. Va.
        Mar. 30, 2012)
            I. Background
            II. Holding
            III. Rationale
    
        Topic 7: Chapter 13 Topics
        Johnson v. Zimmer, 2012 U.S. App. LEXIS 14153 (4th Cir. July 11, 2012)
            I. Background
            II. Holding
            III. Dissent
    
        Morris v. Quigley (In re Quigley), 673 F.3d 269 (4th Cir. 2012)
            I. Background
            II. Holding
    
        In re Sweitzer, 2012 Bankr. LEXIS 3894 (Bankr. D. Md. Aug. 24, 2012)
            I. Background
            II. Holding
    
        Topic 8: Absolute Priority Rule Still Applicable to Individual Chapter 11 Cases
        Maharaj v. Stubbs & Perdue, P.A. (In re Maharaj), 681 F.3d 558 (4th Cir. 2012)
            I. Facts
            II. Procedural History
            III. Issue
            IV. Holding
            V. Rule
            VI. Rationale
    
        Topic 9: § 707(b) Application and Orders
        In re Lassiter, 2011 Bankr. LEXIS 1927 (Bankr. E.D. Va. May 24, 2011)
            I. Background
            II. Holding
            III. Rationale
    
        McDow v. Dudley, 662 F.3d 284 (4th Cir. 2011)
            I. Background
            II. Holding
            III. Rationale
    
        Topic 10: Valuation Evidence for Real Estate Lien Strip Cases
    
        Topic 11: § 523(a)(16) and Post-Petition Homeowners Association Fees
    
        Topic 12: Complaints Pursuant to Va. Code Ann. § 55-80
        Must Allege Notice of Fraudulent Intent
        Gold v. Sovereign Bk. (In re Taneja), 453 B.R. 618 (Bankr. E.D. Va. 2011)
            I. Facts
            II. Issue
            III. Holding
            IV. Rule
            V. Rationale
    
        Topic 13: Default Judgment and Summary Judgments
        O’Sullivan v. Loy (In re Loy), 2011 Bankr. LEXIS 4196 (E.D. Va. Oct. 27, 2011)
            I. Facts
            II. Holding
            III. Rule
            IV. Standard
    
        McDow v. Ryan (In re Ryan), 2011 Bankr. LEXIS 3004 (E.D. Va. Aug. 1, 2011)
            I. Facts
            II. Holding
            III. Rule
            IV. Standard

CHAPTER 11 PANEL DISCUSSION
Hon. Kevin R. Huennekens
Benjamin C. Ackerly
Tyler P. Brown
Douglas M. Foley
Stanley J. Samorajczyk

Authors

Hon. Frank J. Santoro

Kelly M. Barnhart

W. Calvin Smith

Hon. David E. Rice

H. David Cox

Joseph A. Guzinski

S. Elizabeth Gibson

R. Patrick Vance

Michael St. Patrick Baxter

Randal C. Picker

Hon. William F. Stone, Jr.

Malissa Lambert Giles

Madeline A. Trainor

Bradford F. Englander

Craig Goldblatt

Karen M. Crowley

Hon. Brian F. Kenney

Richard C. Maxwell

Richard L. Wasserman

Elizabeth L. Gunn

Roy M. Terry, Jr.

Hon. Kevin R. Huennekens

Benjamin C. Ackerly

Tyler P. Brown

Douglas M. Foley

Stanley J. Samorajczyk

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