| Central District of California | ||||||||
| 2008 | 2009 | 2010 | % | 2011 | 2012 | |||
| Jan | 3,694 | 6,004 | 9,013 | 50% | 10,868 | 21% | 8,835 | -19% |
| Feb | 3,787 | 6,971 | 9,659 | 39% | 10,631 | 10% | 9,307 | -12% |
| March | 4,381 | 8,529 | 12,840 | 51% | 13,543 | 5% | 10,108 | -25% |
| April | 5,023 | 8,512 | 12,114 | 42% | 12,087 | 0% | ||
| May | 5,177 | 8,967 | 11,906 | 33% | 11,669 | -2% | ||
| June | 5,351 | 9,595 | 12,190 | 27% | 11,718 | -4% | ||
| July | 5,983 | 9,894 | 12,737 | 29% | 10,418 | -18% | ||
| Aug | 6,195 | 9,748 | 12,720 | 30% | 11,496 | -10% | ||
| Sept | 6,290 | 9,214 | 12,412 | 35% | 10,006 | -19% | ||
| Oct | 6,364 | 10,322 | 11,753 | 14% | 9,887 | -16% | ||
| Nov | 6,029 | 9,462 | 10,900 | 15% | 9,099 | -17% | ||
| Dec | 6,615 | 9,864 | 10,925 | 11% | 9,089 | -17% | ||
| 64,889 | 107,082 | 139,169 | 30% | 130,511 | -6% | |||
| % of total | 0.059 | 0.075 | 0.089 | 0.095 | ||||
All posts tagged bankruptcy
Bankruptcy Filings Down Again in the Central District
Bankruptcy Filings Tumble in March, 2012
Bankruptcy filings in March were higher accross the country than April but 17% lower than March a-year-ago. Prof. Bob Lawless has an interesting analysis of filing trends you can access here.
| 2007 | 2008 | 2009 | 2010 | % | 2011 | % | 2012 | ||
| Jan | 55,200 | 70,300 | 89,000 | 102,600 | 15% | 102,200 | 0% | 87,900 | -14% |
| Feb | 58,800 | 79,500 | 102,000 | 117,800 | 15% | 109,600 | -7% | 104,400 | -5% |
| March | 73,100 | 90,400 | 131,000 | 159,200 | 22% | 146,400 | -8% | 122,100 | -17% |
| April | 67,800 | 93,200 | 128,700 | 146,200 | 14% | 129,800 | -11% | ||
| May | 69,900 | 89,700 | 120,400 | 133,500 | 11% | 122,800 | -8% | ||
| June | 67,300 | 89,900 | 124,800 | 133,850 | 7% | 120,700 | -10% | ||
| July | 69,100 | 96,400 | 130,500 | 134,600 | 3% | 110,200 | -18% | ||
| Aug | 77,100 | 94,300 | 120,000 | 135,600 | 13% | 120,900 | -11% | ||
| Sept | 67,500 | 96,200 | 125,500 | 134,000 | 7% | 110,400 | -18% | ||
| Oct | 81,200 | 108,900 | 130,200 | 129,700 | 0% | 111,500 | -14% | ||
| Nov | 74,200 | 91,400 | 115,500 | 118,100 | 2% | 98,500 | -17% | ||
| Dec | 65,900 | 95,900 | 117,000 | 114,700 | -2% | 96,500 | -16% | ||
| 827,100 | 1,096,100 | 1,434,600 | 1,559,850 | 9% | 1,379,500 | -12% |
Dodgers Purchase Agreement
You can access the agreement between McCourt and Guggenheim Baseball Managent, L.P, all 75 pages here. This is the copy that was filed with the Bankruptcy Court a day or two ago. Dodger Purchase Agreement
THE JEFFREY S. TURNER MEMORIAL COMMERCIAL LAW UPDATE
THE JEFFREY S. TURNER MEMORIAL COMMERCIAL LAW UPDATE
This meeting is jointly sponsored by The Financial Lawyers Conference and The Los Angeles County Bar Association Commercial Law and Bankruptcy Section, Commercial Law Committee
Thursday, May 10, 2012
Speakers:
Steven O. Weise, Proskauer Rose LLP
Robert Goldschein, Tennenbaum Capital Partners, LLC
Location:
Beverly Hilton Hotel
9876 Wilshire Boulevard
Beverly Hills, California
Chapter 13 Day with Judge Ahart
I had a very pleasant chapter 13 confirmation hearing this morning with Judge Ahart. I got to court an hour and a half before the hearing. The trustee’s attorney told me everything was okay and the plan would be confirmed and I could leave. I commented that I was surprised that it wasn’t more crowded, even an hour and a half early. She said Judge Ahart’s calendar is very efficient and sometimes he is on second call by 11:00am. If you are not there by then, you risk the case being dismissed.
Inaugural Leslie Cohen 5K Run/Walk on April 28, 2012 at 8 a.m.
Dear Colleagues and Friends,
Please join us for the inaugural Leslie Cohen Law 5K Run/Walk on April 28, 2012 at 8 a.m. to benefit Public Counsel’s Debtor Assistance Project and Samohi Cross Country Track Program.
We are honored to support our community in this event and would be thrilled if you can attend!
Runners and walkers will enjoy the stunning course route along the bluff overlooking the Pacific and up the world-famous tree-lined San Vicente Boulevard, and runners can also get the best supplements that they can find in this great article here to improve their physical performance.
The first 250 to register will receive a complimentary Nike tech race T-shirt commemorating the event. Post-race snacks will be provided and massages will be available courtesy of BodyWorks LA Massage & Fitness, and also muscle massages using an amazon vibrating foam roller for this. All participants will receive certificates from Real Food Daily, and the winners of the race will receive dinner for two. Be there for more prizes and surprises!
Class Action Suit Against Wells Fargo for Freezing Accounts in Every Case
On January 21, 2011 Christopher P. Burke, Esq. and Scott C. Borison, Esq. attorneys for Eric Mwangi and Pauline Mwicharo [Plaintiffs] filed case no. 11-01022-bam in U.S. Bankruptcy Court for the District Court of Nevada this Adversary, a class action.
Thanks to Christine Wilton for this news. I will check the docket and update shortly.
Well, I’ve checked the docket. Pretty interesting. The case was before Judge Bruce Markell. The complaint asked for $5 billion (with a “b”) in damages. WFB filed two Motions to Dismiss, the second of which was granted with prejudice in September, 2011. The debtors appealed to the BAP. WFB transferred to district court (shocker there) since the BAP ruled that Wells violated stay. The parties are waiting for the district court to rule. Email for counsel for the debtor is atty@cburke.lvcoxmail.com.
My Brief on Friedman
Friedman v. P&P, LLC (In re Friedman), —- B.R. —- (9th Cir. BAP, March, 2012)
Issue: Does the absolute priority rule still apply, after BAPCPA, in individual chapter 11 cases?
Holding: No.
Judges Philip Brant and James Marlar, Tucson, AZ
Jury, Kirscher, Clarkson
Opinion by Scott Clarkson, Dissent by Meredith Jury
The debtors filed chapter 11 to stop a foreclosure sale on real property they owned although not their principle residence. The debtors filed a plan proposing to pay unsecured creditors $634 per month. The largest unsecured creditor filed an objection to the plan on various grounds including that the plan violated the absolute priority rule. The bankruptcy court conducted a hearing on the plan limited to the issue of whether it was unconfirmable because it violated the absolute priority rule. The court ruled that it did and ordered the debtors to file an amended plan. The debtors did not do that and the case was converted to chapter 7. The debtors moved for a stay pending appeal which was granted by the bankruptcy court given the split on the issue.
NACBA Roundtable in RIVERSIDE on Friday 3/30/2012 – Meet Tara Twomey
NACBA/NCBRC Roundtable
Join NACBA’s Field Coordinator, Zach Manifold, and NCBRC’s Project Director, Tara Twomey, for a roundtable discussion focused on recent legislative efforts and appellate work in the Central District of California (and the Riverside Division, in particular).
March 30, 2012 at 1:00pm — Mission Inn, 3649 Mission Inn Avenue, Riverside, CA
Details on the Settlement with “Major Banks”
There is a great website at www.nationalmortgagesettlement.com where you can find the original complaint filed by the feds and most of the states against a bunch of large banks and servicing companies. The website also has an executive summary of the settlements and copies of the actual settlement agreements. The complaint sure pulls no punches accusing banks of doing all sorts of fraudulent things and accusing them of doing these things on purpose. I hope there is not a whole new round of people who stop paying their mortgages so they can qualify for these new programs.
M. Jonathan Hayes Books
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