Uniform Law Commission: New Study Committee On Assignments For Benefit Of Creditors

Dale G. Higer is an attorney and a long-time Commissioner for the State of Idaho on the Uniform Law Commission.  His newest role is Chair of the Commission’s newly-formed Study Committee on Assignments for Benefit of Creditors. What follows is Mr. Higer’s report on the Commission and on the work of the newly formed Study... Continue Reading →

Subchapter V Plan: Why Extend The Deadline And Slow The Case?!

Built for speed (photo by Marilyn Swanson) By Donald L. Swanson “Subchapter V is supposed to be a fast process toward plan confirmation, but I don’t see that happening!” --Comment of a Bankruptcy Judge (as I recall the comment) It’s true: (i) Subchapter V is supposed to go quickly, but (ii) it often doesn’t. Here’s why... Continue Reading →

Study Finding: Self-Centeredness Is A Barrier to Effective Negotiation

Self-Centered? (photo by Marilyn Swanson) By: Donald L Swanson A study on “egocentrism” and “misunderstanding in conflict and Negotiation” is enlightening. [Fn. 1] “Egocentrism” is defined as an “excessive interest in oneself . . . at the expense of or in disregard of others.” Study Findings The study finds, in three separate experiments, that negotiating parties,... Continue Reading →

Assignment For Benefit Of Creditors: A Uniform Law Is Needed

A lack of uniformity? (photo by Marilyn Swanson) By: Donald L Swanson It’s time for a uniform law on the subject of assignment for benefit of creditors. Description Assignment for benefit of creditors laws are commonly known by the acrostic “ABC Laws”--for obvious reasons.  Such laws are a tool for owners of a distressed business in... Continue Reading →

The Setting Of The Sun: Subchapter V Eligibility

SUNSET (photo by Marilyn Swanson) By Donald L. Swanson The sun has set.  Yes it has.  The $7,500,000 eligibility limit for Subchapter V expired yesterday (March 28, 2022), without action by Congress to extend it. Actually, the Subchapter V sun was set to set on March 27—but that’s a Sunday.  So let’s give the benefit of... Continue Reading →

Second Circuit Says: SBA Can Deny PPP Funds To Bankruptcy Debtors (Springfield v. SBA)

The setting of the sun (photo by Marilyn Swanson) By Donald L. Swanson Here’s a vindication for the Small Business Administration’s discrimination against bankruptcy debtors: On March 16, 2022, the Second Circuit Court of Appeals reverses a Bankruptcy Court Order that prohibited the SBA from denying PPP funds to bankruptcy debtors. The opinion is Springfield Hospital,... Continue Reading →

Can A Pre-Bankruptcy Agreement Waive A Bankruptcy Discharge? (Arsenis v. Blue Cross)

Ignoring the issue? (photo by Marilyn Swanson) By: Donald L Swanson A Petition for certiorari is before the U.S. Supreme Court in Speech & Language Center, LLC, and Chryssoula Marinos-Arsenis v. Horizon Blue Cross Blue Shield of New Jersey (Case No. 21-1154, filed 2/16/2022). Petition’s Question The Question presented in the Petition is this: “Can parties... Continue Reading →

Justice Breyer’s Upcoming Retirement: The Bankruptcy World Will Miss Him

A Justice Breyer opinion at the U.S. Supreme Court -- Stern v. Marshall By Donald L. Swanson In a few months, Justice Stephen G. Breyer is set to retire from the U.S. Supreme Court. The bankruptcy world will miss him. The reason for discussing this subject now (instead of waiting for the retirement to actually happen)... Continue Reading →

Subchapter V Trustee Duties: Facilitation Conflicts With Other Statutory Duties

Rainbow—a spectrum of light (photo by Marilyn Swanson) 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). Facilitation is a mediator-like tool that can be used by every bankruptcy trustee in every case.  Conflicting Duties For Subchapter V trustees, however,... Continue Reading →

When “Unimpaired” =/= Pay In Full (In re Hertz)

Unimpaired (photo by Marilyn Swanson) By Donald L. Swanson Claims are “impaired,” unless the plan “leaves” their rights “unaltered.”  § 1124(1). This rule is not as simple and unequivocal as it seems, according to an In re Hertz opinion. [Fn. 1]   Here’s why. Plan Treatment of Unsecured Claims Claims of unsecured creditors in the Hertz bankruptcy... Continue Reading →

Blog at WordPress.com.

Up ↑

%d bloggers like this: