The hearings on the First Day Motions are set for tomorrow, November 7, 2012, in front of Judge Clarkson at 10:30 a.m.
The various motions can be viewed at www.omnimgt.com/asmc.
All posts in Community
American Suzuki Files Chapter 11 in Santa Ana
American Suzuki filed chapter 11 in Santa Ana yesterday, November 5, 2012. The case has been assigned to Judge Catherine Bauer. Case No. 8:12-bk-22808-CB. Debra Grassgreen is counsel for the Debtor. There are (count em) 22 first day motions not including Debra’s Employment App. My favorite part of the first day motions in these big cases is the Declaration filed to support the motions. The Declaration filed in this case is attched here. Suzuki First Day Dec It has a fantastic amount of information about the company, the problems, the plans, the people etc. The debtor has some $220 million of assets and $346 million of debts. It appears the big problem is the autombile division. The debtor filed a PLAN with everything else which provides essentially that it will sell all of its assets other than the automotive division to a related entity and then wind down the automotive division.
Good News at Prober & Raphael
I am spent! My law firm successfully passed an all day audit by our largest client with “no findings.” The auditors told us we were the first law firm to come away from their audit with no findings. I am so proud of each of my employees, all 80 or so! Awesome job!
Now, we need to be focused on what is coming, this year we will be creating opportunities for felons when opening job positions and will be evaluating their resumes and experiences.
Lee Raphael
Prober & Raphael
Riverside Notes from Mike Gouveia
Riverside Bankruptcy creditor’s meetings moved: All hearings at 3801 University, Riverside, CA 92501 now
Riverside Public Service Law Corp Needs Volunteers: Clinic needs bankruptcy lawyers to give advice to pro se clients
Robert Simmons is the managing attorney for the Joint Federal Pro Se Clinic and he needs your help to counsel the pro se bankruptcy clients. Call him at 951-310-5845 to volunteer your time. The clinic is located at the Riverside Bankruptcy building at 3420 12th Street in Riverside. The clinic is open on most Tuesdays and Thursdays from 10:00 am to 2:00 pm. The hours are flexible. Robert said he needs bankruptcy attorneys and especially those who can advise clients on adversary proceedings.
Secrets to Strip or Avoid Liens: Arnie Wuhrman teaches you how November 10th
Join us in Riverside on Saturday, November 10th as Arnie shows you the ins and outs of Chapter 13 Lien stripping and Chapter 7 lien avoidance.
Three MCLE units provided. $149 per person
9th Annual Bankruptcy Ethics Symposium
Dear Colleagues!
Please find attached a copy of the 9th Annual Bankruptcy Ethics Symposium Flyer which is scheduled for December 14th from 8:30 to 12:00 noon in downtown LA.
Based on our close relationship with the Federal Bar Association, there is a special reduced rate for cdcbaa members. This is always an excellent program!
KEITH HIGGINBOTHAM
2012 cdcbaa President
LACBA Program: Absolute Priority Rule for Individual Chapter 11 Cases
Absolute Priority Rule for Individual Chapter 11 Cases
A distinguished panel of four Central District bankruptcy judges and two
highly regarded Chapter 11 bankruptcy practitioners discuss and debate the
current hot topic in bankruptcy law of whether the 2005 bankruptcy act
abolished the absolute priority rule for individuals in Chapter 11 cases. If
it didn’t, does this mean the end of Chapter 11 for individuals? If it did,
does this give individuals too good of a deal in Chapter 11?
Speakers:
Hon. Alan M. Ahart, US Bankruptcy Court
Hon. Theodor C. Albert, U.S. Bankruptcy Court
Hon. Scott C. Clarkson, U.S. Bankruptcy Court
Stanley E. Goldich, Pachulski Stang Ziehl & Jones
Hon. Robert Kwan, U. S. Bankruptcy Court
David Shemano, Peitzman Weg LLP
Moderated By: David A. Tilem, L/O Of David A Tilem
Annual Holiday Party
December 6, 2012
Save this date on your calendar so that you can be sure to attend the Annual Holiday Party co-sponsored by the
-Los Angeles Bankruptcy Forum
-Financial Lawyers Conference
-Federal Bar Association
-LACBA Commercial Law and Bankruptcy Section
-Central District Consumer Bankruptcy Attorneys Association
– Beverly Hills Bar Association Bankruptcy Committee
December 6, 2012 / From 6:00 to 8:00 p.m.
Location: Edward J. Roybal Federal Court Building
255 East Temple Street, Los Angeles
“Tentatives of the Woodland Hills Bankruptcy Judges” Program, October 24
Tentatives of the Woodland Hills Bankruptcy Judges Program
At lunchtime on October 24, 2012, the San Fernando Valley Bar Association is presenting its annual “Tentatives of the Woodland Hills Bankruptcy Judges” program. This perennial favorite examines selected tentative opinions of the Woodland Hills judges, analyzing the judges and the issues they addressed. The panel consists of David Seror, Steven R. Fox and Shai Oved, all experienced bankruptcy counsel. One additional bonus at the program will be the typically high level of experienced bankruptcy attorneys who attend this program. The panelists share the microphone with attending attorneys who have opportunities to comment about the tentatives and the judges. Attending attorneys will get good insights into these judges, how they rule and why.
The parking is free, the cost of the program is about ½ of what other big bar associations will charge for lunch meetings and the program is an annual favorite. An ample lunch is provided.
Prof. Katie Porter to Speak on the Mortgage Settlement in Santa Ana, Oct 29
Dear Colleagues!
Our friend Professor Porter will be speaking at the Orange County Bar Association on Monday, October 29th from 12:00-1:30 at The Villa located at 510 E. Katella Avenue in Orange , CA 92867. I am informed that several of our Santa Ana Judges will be present. Please see the attached flyer for additional information. commercial_bankruptcy_flyer
KEITH HIGGINBOTHAM
2012 cdcbaa President
Financial Lawyers Conference Program – November 1, 2012
Unavoidable Consequences: Recent Developments In Avoidance Actions Affecting Equity Interests
Thursday, November 1, 2012
A number of recent cases have involved the effect of avoidance actions on the rights and liabilities of holders of equity interests, including shareholders, parent companies, and law firm partners. The panel will examine the Tronox decision addressing whether recovery of avoidance actions is capped at creditor claims, the conflicting decisions in the Brobeck, Coudert, Heller, and Thelen cases addressing whether a partnership agreement waiving unfinished business profits constitutes a fraudulent transfer, the Tousa decisions addressing the use of subsidiary assets to satisfy creditor claims against the parent, the Dynegy examiner’s report addressing the propriety of transferring subsidiary assets to the parent if such transfers are not contractually prohibited by the subsidiary debt agreements, and attempts in the Tribune and Lyondell cases to avoid the section 546(e) defense by having creditors assert state law fraudulent transfer claims against shareholders.
Speakers:
Erin N. Brady, Jones Day
Seth Goldman, Munger, Tolles & Olson LLP
Bradley R. Schneider, Munger, Tolles & Olson LLP
M. Jonathan Hayes Books
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