| August 2007 issue: CLLA Breakfast with Dave Barry
Your Name Here! The Bankruptcy Section is looking for volunteers to write a Case Analysis for an upcoming addition. The Case Analysis is typically based on Court of Appeals or Supreme Court decisions, although you can use your discretion to discuss relevant BAP, District Court and Bankruptcy Court decisions -- especially those interpreting BAPCPA's amendments to the Code. If you are interested or would like to learn more, please send an email to the Managing Editor. You can view the archive here. Your subscription You have been subscribed to this list as part of your membership in the Bankruptcy Section of the Commercial Law League of America. CLLA 70 East Lake Street, Suite 630 Phone: 312-781-2000 Newsletter design by: |
KING AWARD FOR EXCELLENCE Thank you for the many King Award nomination submissions! Look to the CLLA webpage and our October newsletter for awardee announcement. Even better, join us for at the CLLA breakfast, Thursday October 11, 2007 at the Orlando Marriot World Center for the King Award Presentation. Tickets are only $80 and can be purchased by calling 800.978.CLLA. Sua SponteDeborah K. Ebner BAPCPA Got you Pondering? We’ve Got Answers! Back to Orlando we go! In a few short weeks the League and its Bankruptcy Section head back to Orlando to host our annual breakfast and educational program at the National Conference of Bankruptcy Judges. On October 10, 2007, the 81st annual conference will commence at Marriott’s Orlando World Center. Our programs promise to be cutting edge and unusually well attended. Case Law UpdatePaula Lucas Failure to disclose potential conflicts not violation of Federal Rule. 2014. Order reversing bankruptcy court's order awarding an adjusted fee for the investment banking services of defendant, and affirming bankruptcy court's finding that defendant's failure to disclose potential conflicts did not violate Federal Rule of Bankruptcy Procedure 2014 or harm the bankruptcy estate, is reversed in part where the district court erred by concluding the bankruptcy court improperly considered a reasonable lodestar in calculating defendant's attorney fees, and to the extent the district court found the bankruptcy court had considered whether defendant's conduct violated Rule 2014. In re. Citation Corporation 2007 U.S. App. LEXIS 17920 (11th Cir. July 26, 2007). Case AnalysisMelanie Rovner Cohen A Bar Date is a Bar Time is of the essence - really. In a recent decision of the bankruptcy court in the Southern District of New York in the Dana case, In re Dana Corporation, No. 06-10354,2007 WL 1577763 (Bankr. S.D.N.Y. May 30, 2007), Judge Lifland denied the motion of Goodyear Tire and Rubber Company for an extension of time to file its claim arising from the sale of goods delivered to Dana during the twenty day period immediately preceding the commencement of the Dana bankruptcy cases. Goodyear filed its claim under §503(b)(9) over 6 months after the bar date. As a result of the ruling, Goodyear was unable to collect on a claim in excess of $1.5 million for goods delivered during the twenty day period prior to Dana’s bankruptcy. NCBJ Sponsorship OpportunitiesThe Commercial Law League of America and its bankruptcy section have sponsorship opportunities available at the National Conference of Bankruptcy Judges ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Sua SponteBy Deborah K. Ebner BAPCPA Got you Pondering? We’ve Got Answers! Back to Orlando we go! In a few short weeks the League and its Bankruptcy Section head back to Orlando to host our annual breakfast and educational program at the National Conference of Bankruptcy Judges. On October 10, 2007, the 81st annual conference will commence at Marriott’s Orlando World Center. Our programs promise to be cutting edge and unusually well attended. Our strong relationship with NCBJ is prominently featured on Thursday October 11, 2007 starting with the League’s annual breakfast. This year, the League presents Dave Barry, the Pulitzer Prize winning syndicated columnist whose distinguished humor has appeared in newspapers around the country. Our presence continues throughout the day at the Honorable Frank W. Koger Memorial CLLA Education Program. At our 22nd Annual Current Developments in Hot and Emerging topics we present Federalism Issues In Bankruptcy, Statutory Construction and the Uses and Misuses of the Court’s Equitable Powers under Section 105 as well as BAPCPA and the Constitution: Does it Measure Up or Fail the Test? Our presenters include distinguished jurists and law school professors from around the country who promise to continue the cutting edge legacy that our program annually provides. Of course, our day would not be complete without presentation of the highly acclaimed Lawrence King Award whose nominees for 2007 include Judges Ginsberg, Paskay, Perris, London and Wedoff, all distinguished jurists who have made tremendous contributions in the area of bankruptcy and reorganization. No matter what the result, each nominee is worthy of recognition and thanks. Our relationship with the National Conference of Bankruptcy Judges is important. It is important to the League, our Section and to each of us individually. The Honorable Jeff Hopkins, current President of the NCBJ, advises me that the relationship is also important to the NCBJ. I had the pleasure of meeting and working with Judge Hopkins, when he met and worked with League leadership at our Strategic Planning Conference last month. Judge Hopkins took the time to thank our Section and the League for its work and for support of many issues that impact the Bankruptcy bench and bar. He acknowledges the tremendous potential and important role that the League plays in our bankruptcy system and looks forward to continuing our relationship. To help ensure our continued presence at this nationally preeminent event, I invite your participation by your attendance and your sponsorship of this program. Surprisingly, sponsorship opportunities are still available and therefore invited by clicking here. Registration for both the conference and the League events can be made on-line by clicking www.ncbj.org These are trying times for our industry as well as our practice. We need you to be involved! See you in Orlando, and thanks in advance for helping to ensure the continuation of our quality annual programming and presence. Law Office of Deborah K. Ebner Case Law UpdateTolling of mandatory waiting period for 2nd Chapter 7 discharge does not apply. In Chapter 7 bankruptcy proceedings, summary judgment for debtor is affirmed as tolling of the mandatory period a debtor must wait to obtain a second Chapter 7 discharge, during the pendency of any intervening Chapter 13 proceeding filed by the debtor, does not apply in this case. Tidewater Fin. Co. v. Williams 2007 U.S. App. LEXIS 19474 (4th Cir. August 16, 2007) “Planning” transfers can neither be avoided in bankruptcy, nor lead to denial of discharge. Toleration of bankruptcy planning for some purposes insulates such planning from all adverse consequences — it does not. In matters of bankruptcy and insolvency planning, supposed safe harbors from one danger are exposed to dangers from other quarters and may, in any event, be too small to shelter large capital transactions. In re Beverly (9th Cir. BAP August 6, 2007) CLICKHERE for case. Post-petition default, outside of the three year pre-petition period for which the Code grants priority for excise taxes. Where a self-insured debtor in possession defaulted on its workers compensation obligations, causing a State fund to become liable for such obligations, the fund's claim for reimbursement was an excise tax, but was not entitled to priority under section 507(a)(8)(E) because priority excise taxes must arise pre-petition, within three years of the petition date. In Re. Lorber Industries of California (9th Cir., BAP August 6, 2007) CLICKHERE for case. Final fee application disallowed. Where counsel: (i) failed to establish that the legal services had a reasonable likelihood of benefiting the estate at the time the services were rendered and (ii) failed to meet the most basic standards of representation in a bankruptcy case by being unprepared and indifferent, its fees were disallowed in the amount of $51,217.50. In re. APW Enclosure Systems, Inc. (Bankr. DE Aug. 6, 2007) CLICKHERE for case. No right to cure default. Breaking virtual tie between the New Jersey federal courts, the Court of Appeals holds in this bankruptcy appeal that under 11 U.S.C. section 1322(c)(1), a Chapter 13 debtor does not have the right to cure a default on a mortgage secured by the debtor's principal residence between the time the residence is sold at a foreclosure sale and the time the deed is delivered. In re. Connors 2007 U.S. App. LEXIS 18452 (3rd Cir. August 6, 2007) Failure to disclose potential conflicts not a Rule 2014 violation. Order reversing bankruptcy court's order awarding an adjusted fee for the investment banking services of defendant, and affirming bankruptcy court's finding that defendant's failure to disclose potential conflicts did not violate Federal Rule of Bankruptcy Procedure 2014 or harm the bankruptcy estate, is reversed in part where the district court erred by concluding the bankruptcy court improperly considered a reasonable lodestar in calculating defendant's attorney fees, and to the extent the district court found the bankruptcy court had considered whether defendant's conduct violated Rule 2014. Miller Buckfire & Co., LLC v. Citation 2007 U.S. App. LEXIS 17920 (11th Cir. July 27, 2007) Paula Lucas Case Analysis: A Bar Date is a Bar
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A Pulitzer prize-winning commentator whose laugh-out-loud humor has resulted in several books, Dave Barry is an equal opportunity mocker. On subjects ranging from politics to parenting to money matters, he expertly highlights the irony and absurdity in everyday life. In our interview, Barry talks about his early days as a columnist, what it's like to win the Pulitzer, and how he's honed his humor over time.