“Grab What You Can Get, When You Can Get It”: A New Bankruptcy Law Of The Land (Siegel v. U.S. Trustee Program)

Grab what you can get? (photo by Marilyn Swanson) By: Donald L Swanson Remember the old saying, “Grab what you can get, when you can get it”? Well . . . that old saying is now the federal law of the land, applying exclusively to bankruptcy laws in Alabama and North Carolina.  Here’s how.  Congress imposed... Continue Reading →

Some Bankruptcy Law History: Debtor Benefits Are Always A Tough Sell (Part III, The Bankruptcy Code)

A bankruptcy courtroom By: Donald L Swanson Bankruptcy benefits for individual debtors are a tough sell—always have been.  That’s because no one likes bankruptcy—unless they need it. But relieving people from debts in unfortunate circumstances is essential to our collective way of life in these United States.  That’s always been true. What follows is the third... Continue Reading →

Some Bankruptcy Law History: Debtor Benefits Are Always A Tough Sell (Part II, Early 1800s to 1978)

An early-days U.S. courtroom (photo by Marilyn Swanson) By: Donald L Swanson Bankruptcy benefits for individual debtors are a tough sell—always have been.  That’s because no one likes bankruptcy—unless they need it. But relieving people from debts in unfortunate circumstances is essential to our collective way of life in these United States.  That’s always been true.... Continue Reading →

Some Bankruptcy Law History: Debtor Benefits Are Always A Tough Sell (Part I, Ancient Days to 1803)

Ancient Athens (photo by Marilyn Swanson) By: Donald L Swanson Bankruptcy benefits for individual debtors are a tough sell—always have been.  That’s because no one likes bankruptcy—unless they need it. But relieving people from debts in unfortunate circumstances is essential to our collective way of life in these United States.  That’s always been true. What follows... Continue Reading →

Student Loan Problem: Statistics & A Failure To Acknowledge Reality

Ignoring reality? (photo by Marilyn Swanson) By: Donald L Swanson We have a student loans problem in these United States. A huge part of the problem is that we are, (i) focused on addressing symptoms of the problem in small ways, (ii) ignoring the underlying problem, and (iii) enabling higher education costs to spiral out of... Continue Reading →

State Laws For Avoiding Insider Preferences (UVTA, UFTA & In re Lamie)

Little-known and rarely-used? (Photo by Marilyn Swanson) By: Donald L Swanson Preference avoidance provisions are a crucial part of the Bankruptcy Code—contained, primarily, in § 547 & § 550. States also have a preference avoidance statute—for insiders.  It’s in the Uniform Voidable Transactions Act (“UVTA)” or in its predecessor, the Uniform Fraudulent Transfer Act (“UFTA)). The... Continue Reading →

NFL & Bankruptcy: Carolina Panthers’ Failed Practice Facility Project

Carolina Panthers practice facility after construction halted. By: Donald L Swanson 2022 has been a bad year for the Carolina Panthers of the National Football League: Their practice facility project goes into Chapter 11 bankruptcy on June 1, 2022 (Case No. 22-10505 in the Delaware Bankruptcy Court); They fire their coach after only five games (one... Continue Reading →

Subchapter V Trustee: Initial And Subsequent Zoom Meetings–A Facilitation Tool

A Vise-Grip Tool By: Donald L Swanson “The [Subchapter V] Trustee shall— . . . facilitate the development of a consensual plan of reorganization.”  11 U.S.C. § 1183(b)(7). That’s what we Subchapter V trustees are supposed to do. Ok, fine.  But how are we supposed to do that? A facilitation tool that many Subchapter V trustees... Continue Reading →

ABC Details In Illinois: Under Common Law Of Trusts

An Illinois view (photo by Marilyn Swanson) By: Donald L Swanson Assignments for benefit of creditors (“ABC”) are rarely used in these United States.  That’s for two reasons: (i) some states have no ABC statute and do not recognize the common law of ABCs, and (ii) other states have onerous ABC statutes that no one wants... Continue Reading →

Tough Guys Finish Last In Negotiations (A Study)

Finishes last? (Photo by Marilyn Swanson) By: Donald L Swanson Negotiators consider, (i) the reputation of the opposition, in an effort to decrease uncertainty, and (ii) their own reputations, recognizing that past behaviors can influence future efforts. A study examines the effects of a negotiator’s tough guy reputation on negotiation processes (fn. 1, the “Study”). Distributive... Continue Reading →

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