IRS Standard Deduction for Housing Can Be Taken Without Mortgage or Rent Expense
Official Form 122C-2 could be read to deprive a chapter 13 debtor of the IRS standard housing deduction when the statute permits the deduction.
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Properly Written, a Divorce Decree Doesn’t Create a Debtor/Creditor Relationship
A properly written divorce decree can create a separate property interest that won’t be part of the bankruptcy estate of a bankrupt spouse.
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The Standard for Enlarging the Time to File a Subchapter V Plan
Judge Jacobvitz of New Mexico follows Judge Harner of Maryland in developing a standard for deciding whether a Subchapter V debtor may extend the time for filing a plan.
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State Court Is the ‘More Appropriate Forum’ to Divide Marital Property
The bankruptcy court can divide marital property, but just because it can doesn’t mean it should, Judge Thuma says.
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Survivor’s Benefits Under a Pension Plan Might Not Become Estate Property
Unlike Clark v. Rameker, where an inherited IRA wasn’t exempt, the inheritance of benefits under a pension plan might not become estate property under Section 541(c)(2).
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A DIP’s Lawyer Can Later Become Adverse to a Chapter 11 Liquidating Trust
Judge David Thuma explains why a chapter 11 debtor in possession and a subsequent liquidating trust are different clients for the purpose of a conflict analysis, at least when the committee has confirmed a liquidating plan.
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Defamation and IIED Claims Are Not ‘Personal Injury Torts’
Section 157(b)(5) does not bar the bankruptcy court from trying defamation and IIED claims, Judge Thuma says, siding with Judge Bernstein.
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Majority of Courts Use Confirmation Date to Value a Lender’s Collateral in Cramdown
Courts are split when it comes to deciding whether the confirmation date or the filing date should be used to value a secured lender’s collateral in cramdown.
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Judge Tells ‘13’ Debtors’ Counsel How to Write their Retention Agreements
Judge Jacobvitz told counsel for chapter 13 debtors how to write their engagement agreements to ensure being paid from funds held by the trustee if the case converts to chapter 7 before confirmation.
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Priest Lacked Standing to Raise a Claim Objection to Clear His Name of Sexual Abuse
Standing has three components: statutory standing, constitutional standing and prudential standing, Judge Thuma explains.
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