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Vol 13, Num 3 l September 2015

Young and New Members

► In This Issue:

New Bankruptcy Rule 3002-1 Amendments and Future Considerations: Seeking More Clarity in Post-Petition Chapter 13 Obligations


Megan W. Murray
Trenam Law
Tampa, Fla.

The Judicial Conference Advisory Committee on Bankruptcy Rules recently unanimously agreed to proposed amendments to Bankruptcy Rule 3002-1, which requires a secured creditor of residential property to notify debtors of changes to post-petition payments that may become due over the course of a chapter 13 bankruptcy. The rule originally went into effect in December of 2011 to “aid in the implementation of § 1322(b)(5), which permits a chapter 13 debtor to cure a default and maintain payments on a home mortgage over the course of the debtor’s plan.” The rule in its current form requires the creditor to notify a debtor of any change in payment amount, including interest rate or escrow adjustments, no later than 21 days before a new payment amount is due.   » Read More

Bankruptcy Basics: Employee Wage Motions in Chapter 11 Cases


Veronique Urban
Farrell Fritz, P.C.
Uniondale, N.Y.

A company’s decision to file for chapter 11 bankruptcy protection will inevitably cause disruption to the debtor’s operations, communications and daily routine, especially at the start of the bankruptcy case. In order to minimize these disruptions and to provide reassurance to its employees, creditors and vendors, a chapter 11 debtor generally files a series of “first day” motions concurrently with, or shortly after, the filing of its chapter 11 petition.

First-day motions can be administrative or operational in nature. Administrative first-day motions are those that seek orders from the bankruptcy court to allow the bankruptcy case itself to run efficiently, such as first-day motions filed by large debtors that seek the joint administration of its bankruptcy cases. » Read More

Don't Miss the October 2nd Early Bird Registration Deadline for the Winter Leadership Conference

ABI has launched a new website and registration page for this year’s Winter Leadership Conference! Join us Dec. 3-5, 2015, at the historic Arizona Biltmore in downtown Phoenix for CLE, networking and breath-taking views. Offering up to 12/14 hours of CLE/CPE credit and 2.75/3 hours of ethics, there are a variety of sessions with topnotch speakers for consumer and business practitioners, as well as financial advisors.

This year the Young and New Members & Unsecured Trade Creditors committees will host a joint session titled A Road to Recovery – How to Navigate the Twists and Turns of Insider Litigation. Scheduled for Saturday, from 9:30 - 10:45 am, speakers for this session include Eric D. Madden (Reid Collins & Tsai LLP; Dallas), Nancy A. Peterman (Greenberg Traurig, LLP; Chicago), David M. Posner (Kilpatrick Townsend & Stockton LLP; New York), and Russell C. Silberglied (Richards, Layton & Finger, PA; Wilmington).

NEW Highlights from the conference include:

  • Optional events, including a golf tournament, kayaking, tennis, horseback riding and much more
  • Great Debates on chapter 11 plans, whether a bankruptcy judge can disband a creditors’ committee and must a creditor file a proof of claim
  • BAPCPA Consumer Issues: 10-Year Anniversary Special
  • Nine joint committee sessions, provided by ABI’s 18 committees
  • A live Bloomberg “Eye on Bankruptcy” luncheon presentation
  • A special Casino Night!
  • A judges’ roundtable on hot-button issues
Early-bird registration ends Oct. 2, so be sure to register to take advantage of the savings.

5th Edition of Bankruptcy in Practice Is Now Available

Bankruptcy in Practice, 5th Edition

Since it first appeared in 2002, Bankruptcy in Practice has been one of ABI’s most popular titles. Now this comprehensive book has been extensively revised by Michael L. Bernstein and George W. Kuney to incorporate important case law such as RadLAX, Till, and LaSalle, as well as new analysis of vital parts of the Bankruptcy Code, such as § 1111(b). The book bridges the divide between classroom theory, courtroom procedure and conference room negotiation, and blends doctrine and practical counsel in a unique and highly accessible treatment of bankruptcy law and process. New and nonspecialist lawyers in particular will find the book a lifeline to demystifying the arcane rules of the bankruptcy road. Order the new edition today at the ABI Bookstore, or as part of the Young & New Member bundle!

Fraud  & Forensics Webinar 10.08.15


7th Annual Mid-Level Professional Development Program - Chicago - 10.28.15

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Tel. (703)-739-0800
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