Consumer

The panelists will lead a discussion about the relationship between race and bankruptcy, including decisions on whether to file, under what chapter to file, and the impact of race on professionals and other actors in the bankruptcy system. This session will also address the research about biases and perceptions regarding race and bankruptcy and what can be done about them.

The most popular session each year, this annual favorite will cover all recent bankruptcy law decisions and current consumer bankruptcy law issues. This session is a must-attend for professionals to stay current on consumer bankruptcy law issues.

Chapter 13 trustees are unique. Unlike chapter 7 trustees, they do not take possession of a debtor’s assets. Yet the Bankruptcy Code imposes some responsibilities on them with respect to property of the estate. It also imposes responsibilities on them to assist a debtor. This session will focus on understanding the hybrid nature of the trustee’s role in chapter 13 cases, and how it impacts issues and strategies for debtors and creditors in chapter 13. Can a chapter 13 trustee sell property under § 363? Can a chapter 13 trustee recover preferences under § 547 or fraudulent conveyances under § 548? What are the trustee’s duties regarding the continuing prosecution of litigation brought by a debtor pre-bankruptcy to recover from a third party? What are the chapter 13 trustee’s duties regarding filing proofs of claim on behalf of creditors? What must a chapter 13 trustee do to assist a debtor?

Are there nonbankruptcy alternatives that might better suit your client to deal with their financial difficulties apart from bankruptcy? This session will discuss the possible alternatives and their pros and cons, such as the effectiveness of negotiating with creditors individually, offers in compromise in dealing with the IRS and other governmental units, trial loan modifications and permanent loan modifications on mortgages, tax ramifications if a creditor agrees to discharge the debtor from liability, information that must be disclosed when negotiating a compromise with creditors outside of a judicial proceeding, and how debtors’ attorneys get paid for providing nonbankruptcy alternatives for debtors dealing with their creditors.

With the legalization of marijuana in many states, there are now large numbers of individuals and businesses that derive their income from growing and selling marijuana and from other business activities related to marijuana. This session addresses the issues that emerge when individuals and businesses in this industry encounter financial problems. What are the sources of governing law (state/federal)? Is bankruptcy an option? How are marijuana-related income and assets treated? What are a bankruptcy trustee’s rights and responsibilities in dealing with a marijuana-related business? What ethical issues arise for attorneys representing individuals and entities in this industry? How does the U.S. Trustee’s Office address these issues in light of the conflict between federal law and some states’ laws? What is the direction of the developing body of bankruptcy case law regarding this industry?

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This panel will cover issues relating to the discharge of tax claims, objecting to tax claims and the utility of § 505, the consequences of not having tax returns on file as of the petition date, and other tax-related issues that impact debtors.

This panel will discuss (a) interactions with clients who have mental health problems, lying clients and unreasonable clients; and (b) spousal conflicts, joint individual and business case conflicts, conflicts that arise when changing firms, and multiple-owner business case conflicts.

Resolved: Hiring an independent CRO displaces the need for the appointment of a chapter 11 trustee under § 1104(e) of the Bankruptcy Code. Resolved: Holders of acquired claims should be required to disclose the basis in such a claim as a condition for seeking relief in a bankruptcy case. Resolved: Holders of acquired claims should be required to disclose the basis in such a claim as a condition for seeking relief in a bankruptcy case.

This panel will address hot topics in the consumer bankruptcy world, including analysis of the UpRight decision and the ongoing evolution of fee arrangements.