Bankruptcy Tweets for the Week Ending 1/31/2011

Here are my tweets for this past week, though expanded into plain english.  RSS Feeds are also available for those wanting them individually organized:

  • A scholarly, wide-ranging opinion by the Hon. Leif Clark examining the intersection of principles of federalism, bankruptcy law, and the evolution of the law of personal exemptions ends narrowly, holding that a Texas debtor transplanted from Nevada can't use either the Texas or Nevada homestead exemption laws to claim his Texas home exempt under Code section 522, but is instead limited to claiming the federal exemptions.
  • Robert Willens reviews a 12/23/10 IRS Private Letter Ruling regarding a consolidated group parent's use of its NOLs post-chapter 11 reorganization.
  • Delaware bankruptcy court won't impose an Illinois constructive trust on a ch 11 debtor's receivables collections that included within them a nondebtor distributor's sales markup.
  • Massachusetts bankruptcy court examines the law of debt recharacterization and equitable subordination and finds for the defendant lender on all counts after a bench trial.
  • Northern District of Illinois district court affirms an Illinois bankruptcy court's temporary stay of collection actions against nondebtor guarantors found to be critical to success of the debtor's reorganization efforts. .
  • A Massachusetts bankruptcy court reviews the split on whether a chapter 7 trustee's motion to extend the time to object to discharge is limited to objections by the trustee alone or can be piggybacked by all creditors who subsequently want to object.
  • Bankruptcy counsel who quasi-robo-signed his debtor clients' names electronically via ECF faces sanctions and state bar review.
  • A settlement agreement default that calls for entry of a judgment 63 times the defaulted amount is enforced by a ND IL district court as shocking, but consistent with terms of agreed-upon settlement agreement.

Thanks for reading!

© Steve Jakubowski 2011