Debtor Liability After Discharge Under Pre-Bankruptcy Guaranty? (Reinhart v. Schlundt)

Surprise? (Photo by Marilyn Swanson) By: Donald L Swanson Every now and then we get a bankruptcy opinion declaring a rule with broad application that, (i) may make sense is specific situations, but (ii) is a terrible result for others. Here’s an Exhibit A opinion for such a proposition: Reinhart Foodservice LLC v. Schlundt, Case No.... Continue Reading →

Uniform Commercial Code: 2022 Amendments — New Article 12 & Old Article 9 (Interview #3)

https://youtu.be/RotRSOTEKb0 By: Donald L Swanson This video interview provides information about about the 2022 amendments to the Uniform Commercial Code (“UCC”). It is the third of three interviews with Edwin Smith about the 2022 UCC amendments: The first interview is linked here; and The second interview is linked here. Edwin Smith is an expert on the 2022 UCC amendments... Continue Reading →

No Rescue For Chicago From U.S. Supreme Court—This Time (In re Mance)

Chicago (photo by Marilyn Swanson) By: Donald L Swanson Poor Chicago.  Unlike the result for Chicago’s traffic ticket income in Fulton v. Chicago, the U.S. Supreme Court refuses to rescue Chicago in City of Chicago v. Mance (Case No. 22-268; Cert. denied, 11/21/2022).[Fn. 1] Chicago’s Traffic Ticket Income Here’s the deal: Chicago issues three million traffic... Continue Reading →

Uniform Commercial Code: 2022 Amendments — New Article 12 (Interview # 2)

https://youtu.be/MUxzZ9XL1Ew By: Donald L Swanson This video interview provides an explanation about the new "Article 12 -- Controllable Electronic Records," in the 2022 amendments to the Uniform Commercial Code ("UCC"). This video is the second of two interview with Edwin Smith about the 2022 UCC amendments. The first interview is linked here. Edwin Smith is an... Continue Reading →

Post-Petition Interest In A Solvent Bankruptcy: Resurrecting A Rule From 1898 Act vs. Applying Bankruptcy Code Language (Ultra vs. Hertz)

Old and outdated? (photo by Marilyn Swanson) By: Donald L Swanson Four decades and several years ago, Congress repeals the Federal Bankruptcy Act of 1898 and replaces it with the Bankruptcy Reform Act of 1978, aka the “Bankruptcy Code.”[Fn. 1] A decade later, Justices on the U.S. Supreme Court are still disparaging the new Bankruptcy Code... Continue Reading →

Uniform Commercial Code: 2022 Amendments — An Overview (Interview #1)

https://youtu.be/zADLGOSj4g0 By: Donald L Swanson This video interview provides an overview of the 2022 amendments to the Uniform Commercial Code ("UCC"). The interview is with Edwin Smith, who is an expert on the 2022 UCC amendments because he chaired the Drafting Committee of the Uniform Law Commission that produced the 2022 UCC amendments. Ed is also... Continue Reading →

Two Subchapter V Plan Confirmation Standards: (i) Chapter 7 Liquidation, & (ii) Unfair Discrimination (In re Lapeer Aviation)

Two different standards? (Photo by Marilyn Swanson) By: Donald L Swanson Every now and then we get an example of how a process should work. That’s exactly what we have, regarding confirmation of a contested Subchapter V plan, in the case of In re Lapeer Aviation, Inc., Case No. 21-31500 in the Eastern Michigan Bankruptcy Court.... Continue Reading →

Make-Whole Premium: The Equivalent Of Unmatured Interest (Wells Fargo v. Hertz)

Not made whole (photo by Marilyn Swanson) By: Donald L Swanson During a November 9, 2022, hearing on summary judgment motions in the Hertz bankruptcy[fn. 1], Delaware Bankruptcy Judge Mary F. Walrath issues the following oral ruling: The make-whole premium in this case is “calculated based on unmatured interest”; “If something is calculated by interest, I... Continue Reading →

The “Vanishing” Homestead Exemption—Before The U.S. Supreme Court (Wells v. McCallister)

Vanishing? By: Donald L Swanson The case is Wells v. McCallister, Case No. 21-1448 in the United States Supreme Court.  The question presented is: whether a debtor's homestead exemption, existing on the date of bankruptcy filing, can vanish if the debtor sells the homestead during the bankruptcy and does not promptly reinvest the proceeds in another... Continue Reading →

The Benefits Of Conflict (A Study)

Conflict? By: Donald L Swanson “conflict has its own advantages and can be productive.” --From “Benefits of Conflict” [Fn. 1]. The “Benefits of Conflict” study shows how international conflicts “can be beneficial” for the countries in conflict. Moreover, the study's findings and conclusions may have merit in the context of inter-personal relations and mediation as well.... Continue Reading →

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