I promised the folks who attended the Nuts & Bolts Program at UWLA yesterday that I would post my article on the Section 1111(b) election. The Section 1111 fin
The Orange County Bankruptcy Forum — Judges’ Night: Effective Oral Advocacy
The Orange County Bankruptcy Forum
A college of lawyers and others dedicated to the study of bankruptcy and insolvency
June 14, 2012
Judges’ Night: Effective Oral Advocacy
(or how to open your mouth and not insert your foot)
Participating Judges include:
Hon. Theodor C. Albert * Hon. Catherine E. Bauer * Hon. Scott C. Clarkson
Hon. Mark D. Houle * Hon. Deborah J. Saltzman
Hon. Erithe A. Smith * Hon. Mark S. Wallace
(Moderator: Jess Bressi, McKenna, Long & Aldridge LLP)
CM/ECF Dictionary Updates Effective 6/4/12
ATTENTION ECF USERS
Attached please the most current CM/ECF Dictionary updates listing specific docket event codes to be used with the new LBR forms that become effective 6/1/2012, as well some docket event codes that have been retired.
These event code changes will become effective as of Monday, June 4, 2012.
Any questions may be directed to the ECF Help Desk at: ECF_support@cacb.uscourts.gov.
Best regards,
ECF Help Desk
(213) 894-2365
Public Counsel’s Judge Lasarow Pro Bono Awards Event and Reception
Dear Colleagues!
cdcbaa members are cordially invited to the Public Counsel’s Judge Lasarow Pro bono Awards Event and Reception in the lobby of the Roybal Federal Building held on June 21st at 5:30 pm.
Please feel free to attend this most worthy event!
KEITH HIGGINBOTHAM
2012 cdcbaa President
Chair, DAP/Pro bono Committee
9th Circuit BAP Rules Transfer of Note to Securitization Trust does not Affect Right of MERS to Foreclose
Cedano v. Aurora Loan Services, LLC (In re Cedano), — B.R. — (9th Cir. BAP April, 2012)
“[T]he transfer of the Note as part of a securitization process did not affect MERS’s right as a nominee under the DOT.”
“see also, Gomes v. Countrywide Home Loans, Inc., 192 Cal. App. 4th 1149, 1151 (Cal. Ct. App. 2011) (further explaining the MERS system) and Morgera v. Countrywide Home Loans, Inc., 2010 WL 160348, at *8 (E.D. Cal. Jan. 11, 2010) (collecting cases).”
US Trustee has Attorney Position Open in Riverside
The announcement is here. Riverside Staff Atty
Judge Robert Kwan Rules that the Absolute Priority Rule Still Applies in Individual Chapter 11 Cases
In re Arnold, — B.R. — , 2:12-bk-15623 (Bkrtcy, C.D. Ca. May, 2012 Kwan.J.)
Issue: Does the absolute priority rule still apply in individual chapter 11 cases?
Holding: Yes.
Judge Robert Kwan
The debtors here filed a individual chapter 11. They own a number of pieces of real property. They filed a chapter 11 disclosure statement and plan and US Bank objected on the basis that the disclosure statement did not contain adequate information and that the plan was patently unconfirmable because it violates the absolute priority rule. The US Bank unsecured claim was based on a deficiency on property which the debtors had guaranteed.
Judge Kwan agreed with US Bank and refused to approve the disclosure statement. As to whether the disclosure statement contained adequate information, the court found that the options given to unsecured creditors were confusing, did not advise creditors which option would apply, and did not advise creditors of the significance of various court rulings on the various options. The disclosure statement also advised creditors that the debtors would make a new value contribution of $250,000 “at their election” but did not say where that money was going to come from and therefore the feasibility of making the contribution.
Word of Warning from Aki Koyama
Just to get a word of caution out there: Some attorneys make it a regular practice to reuse an original, signed electronic filing declaration by making a copy of the original, redating the copy and then filing this redated copy with the court when filing new documents. This practice is analogous to filing a document with forged signatures. If you know of any attorneys and/or their staff who engage in this practice, please kindly ask them to stop as the attorney of record may be subject to sanctions for this conduct.
Aki Koyama
Staff Attorney for Chapter 13 Trustee Kathy Dockery
Ask the Judges Program – June 4, 2012
LOS ANGELES BANKRUPTCY FORUM IN CONJUNCTION WITH PUBLIC COUNSEL ANNOUNCES ITS JUNE 4, 2012 PROGRAM
“ASK THE JUDGES ”
COME AND FIND OUT EVERYTHING YOU EVER WANTED TO LEARN ABOUT BANKRUPTCY BUT WERE AFRAID TO ASK
PANELISTS: UNITED STATES BANKRUPTCY JUDGES
The Honorable Peter Carroll – Chief Judge
The Honorable Vincent P. Zurzolo
The Honorable Sheri Bluebond – Moderator
The Honorable Richard M. Neiter
The Honorable Robert N. Kwan
The Honorable Catherine E. Bauer
The Honorable Deborah J. Saltzman
The Honorable Mark S. Wallace
The Honorable Sandra R. Klein
The Honorable Julie Brand
The Honorable Neil Bason
Supreme Court Quote
“[The requirement of a speedy bankruptcy case] is a wise policy, and if those who administer the law could be induced to act upon its spirit, would do much to make the statute more acceptable than it is. But instead of this the inferior courts are filled with suits by or against [trustees], each of whom as soon as appointed retains an attorney, if property enough comes to his hands to pay one, and then instead of speedy sales, reasonable compromises, and efforts to adjust differences, the estate is wasted in profitless litigation, and the fees of the officers who execute the law.”
Bailey v. Glover, 88 U.S. 342 (1874)
M. Jonathan Hayes Books
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Senior Contributor
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