Law Commons^™

Chief Loophole Officer Or Chief Legal Officer: Inside Lehman Brothers—A Film Case Study About Corporate And Legal Ethics, Garrick Apollon

St. Mary's Journal on Legal Malpractice & Ethics

This Article discusses the continuing legal education (CLE) visual advocacy documentary-style program, which Garrick Apollon (author of this Article) researched and developed. The case study for this CLE documentary-style program is the film Inside Lehman Brothers—a documentary film by Jennifer Deschamps which chronicles the story of the Lehman whistleblowers. The film presents Mathew Lee, former senior vice president overseeing Lehman’s global balance sheet; Oliver Budde, former in-house counsel (associate general counsel) of the Lehman Brothers; and the racialized female mid-tier manager whistleblowers, who all paid a steep price in the 2008 American subprime mortgage crisis, while many of the …

Courts Apply A Case-By-Case Analysis In Distinguishing A Meritorious Motion To Disqualify From A Delaying Litigation Tactic, Cathrena Collins

Bankruptcy Research Library

(Excerpt)

It is becoming increasingly rare for an attorney to remain at the same firm for an entire career. Lateral movements of lawyers coupled with large firms employing hundreds of attorneys creates ample opportunity for conflicts of interest to arise. The American Bar Association explains a conflict of interest is present when "there is a significant risk that a lawyer's ability to consider, recommend or carry out an appropriate course of action for the client will be materially limited as a result of the other lawyer's responsibilities or interest." Furthermore, Rule 1.10(b) dictates that a lawyer joining a new firm …

“Listserv Lawyering”: Definition And Exploration Of Its Utility In Representation Of Consumer Debtors In Bankruptcy And In Law Practice Generally, Josiah M. Daniel Iii

St. Mary's Journal on Legal Malpractice & Ethics

The author examines the communications and activities of bankruptcy lawyers participating in the listserv of the Bankruptcy Law Section of the State Bar of Texas and finds that those activities constitute a previously unrecognized form of “lawyering,” which he has defined as the work of lawyers in and through the legal system to accomplish the objectives of their clients. Review of specific postings about legal issues and practical problems by Texas bankruptcy lawyers, whose practices are primarily on behalf of individual debtors in cases under Chapters 7 and 13 of the Bankruptcy Code, and observations about the voluntary, collaborative, and …

Milking The Estate, David R. Hague

West Virginia Law Review

No abstract provided.

Integrating "Alternative" Dispute Resolution Into Bankruptcy: As Simple (And Pure) As Motherhood And Apple Pie?, Nancy A. Welsh

Nancy Welsh

Today, there can be little doubt that “alternative” dispute resolution is anything but alternative. Nonetheless, many judges, lawyers (and law students) do not truly understand the dispute resolution processes that are available and how they should be used. In the shadow of the current economic crisis, this lack of knowledge is likely to have negative consequences, particularly in those areas of practice such as bankruptcy and foreclosure in which clients, lawyers, regulators, and courts work under pressure, often with inadequate time and financial resources to permit careful analysis of procedural options. Potential negative effects can include: (1) impairment of a …

Combating Professional Error In Bankruptcy Analysis Through The Design And Use Of Decision Trees In Clinical Pedagogy, Timothy R. Tarvin

St. John's Law Review

(Excerpt)

This Article will address the positive impact of using the decision tree model in four parts. Part I will provide a historical overview of the evolution of legal education and the profession’s call for more experiential education, both generally and specifically, through clinical training and the use of technology. This Section will provide context and argue that the use of decision trees in the clinical setting is the natural culmination of the legal academy’s goals of teaching analytical skills, preparing graduates for practice, and incorporating new technology into the practice of law.

Part II will describe the legal malpractice …

Ethics For Examiners, Daniel J. Bussel

Fordham Law Review

The inquisitorial bankruptcy examiner is sui generis in our system. He faces unique ethical quandaries and considerations, which require a code of ethics tailored to his role if he is to achieve fully the promise of improving Chapter 11 through the introduction of inquisitorial investigative methods. This Article attempts to point the way toward guidelines that will regulate the conduct of examiners to mitigate real, potential, and perceived abuses.

Use It Or Lose It: Grappling With Classification Of Post-Petition Sale Proceeds Under Chapter Seven Bankruptcy For Consumer Debtors In The Lone Star State., Danielle Nicole Rushing

St. Mary's Law Journal

Texas affords consumer debtors some of the most generous state bankruptcy exemptions in the United States. This includes the homestead exemption, which permits consumer debtors to exempt a homestead of unlimited value from forced sale, subject to certain enumerated exceptions. Bankruptcy courts throughout the state are grappling with how to characterize proceeds from the sale of an exempted homestead once a consumer debtor files a Chapter Seven bankruptcy petition. Specifically, courts consider whether a debtor may personally retain funds from the sale of a homestead or whether a Chapter Seven Trustee should receive the sale proceeds on behalf of the …

The Case For Value Billing In Chapter 11, Nancy B. Rapoport

Scholarly Works

This article explores the forces contributing to very high professional fees in large Chapter 11 cases and suggests that lawyers might want to consider valuing their services in ways other than the traditional billable hour approach.

Integrating "Alternative" Dispute Resolution Into Bankruptcy: As Simple (And Pure) As Motherhood And Apple Pie?, Nancy A. Welsh

Faculty Scholarship

Today, there can be little doubt that “alternative” dispute resolution is anything but alternative. Nonetheless, many judges, lawyers (and law students) do not truly understand the dispute resolution processes that are available and how they should be used. In the shadow of the current economic crisis, this lack of knowledge is likely to have negative consequences, particularly in those areas of practice such as bankruptcy and foreclosure in which clients, lawyers, regulators, and courts work under pressure, often with inadequate time and financial resources to permit careful analysis of procedural options. Potential negative effects can include: (1) impairment of a …

Respecting The Concept And Limited Liability Of A Series Llc In Texas Comment., Bernie R. Kray

St. Mary's Law Journal

The primary advantage of a limited liability company (LLC) is to shield owners from personal liability for the contract and tort obligations of their business entities. To further protect business assets, practitioners often advised clients to form multiple LLCs, each containing single assets. Yet, business owners managing multiple assets and LLCs often found this approach ineffective and cost-prohibitive. Allowing for a single “master” LLC to compartmentalize different series of properties without the need for a distinct holding company, the “series” LLC was the next step. The series LLC permits companies to partition assets and liabilities among various cells or “series,” …

Debtor Counsel's Fiduciary Duty: Is There A Duty To Rat In Chapter 11?, Nancy B. Rapoport, C. R. Bowles

Scholarly Works

This article discusses what duties counsel to the debtor-in-possession owe (and to whom they owe these duties) when the debtor-in-possession wants to do something illegal or just plain dumb.

Through Gritted Teeth And Clenched Jaw: Court-Initiated Sanctions In Bankruptcy Opinions, Nancy B. Rapoport

Scholarly Works

This article discusses what types of behavior can trigger a bankruptcy court's initiation of sanctions against an attorney.

Rethinking Professional Fees In Chapter 11 Cases, Nancy B. Rapoport

Scholarly Works

This article discusses the many ways in which professional fees can spiral out of control in chapter 11 bankruptcy cases and evaluates the possible ways to monitor and control those fees.

(Almost) Everything We Learned About Pleasing Bankruptcy Judges, We Learned In Kindergarten, Nancy B. Rapoport, Roland Bernier Iii

Scholarly Works

In this essay, we demonstrate that most ethics violations (at least the ones that irritate bankruptcy judges) are also violations of simple rules of behavior that people should have learned in kindergarten.

Teaching Selected Ethical Issues In Bankruptcy, Michael Korybut

All Faculty Scholarship

Both consumer and business bankruptcies present numerous ethical questions. Like any lawyer, the bankruptcy attorney must be familiar with a variety of ethics codes and rules, such as the 1969 ABA Model Code of Professional Responsibility or the 1983 ABA Model Rules of Professional Conduct. Further, the Bankruptcy Code has a number of provisions that raise ethical questions. Accordingly, when the author teaches his Bankruptcy survey course, he devotes time in a number of classes to ethical issues. In particular, the author spends a good part of one class on Bankruptcy Code section 327(a) which prohibits an attorney representing the …

The Curious Incident Of The Law Firm That Did Nothing In The Night-Time, Nancy B. Rapoport

Scholarly Works

This essay argues that organizations (here, the Milbank, Tweed law firm) often ignore obviously bad behavior by their employees because of various psychological and sociological factors that prevent them from recognizing the behavior as bad in the first place.

Bankruptcy Ethics Issues For Solos And Small Firms, Nancy B. Rapoport

Scholarly Works

This chapter, in Corinne Cooper & Catherine E. Vance's book Attorney Liability in Bankruptcy, walks the reader through some of the traditional ethics issues triggered by representing consumers and small businesses. It also addresses some of the ethics issues that the recent Bankruptcy Amendments (BAPCPA) have created.

Putting Health Care Providers At A Loss And Consumers At Risk: Why Hmos Should Be Held Accountable For The Financial Instability Of Their Delegated Networks., Anish P. Michael

St. Mary's Law Journal

This Comment explores why health maintenance organizations (HMOs) such as PacifiCare should be held accountable for the financial instabilities of their delegated networks. Part II discusses the organization of the managed care system and the assessment of Texas laws currently enforcing managed care in the state. Incorporated in this discussion is a look at the risks delegated networks bear when contracting with HMOs to provide payment for individualized care. Part III analyzes the increasing trend of financial instability by presenting the views of the HMOs, the delegated networks, the health care providers, and the consumers enrolled in the health plan. …

Our House, Our Rules: The Need For A Uniform Code Of Bankruptcy Ethics, Nancy B. Rapoport

Scholarly Works

This article argues that there should be a separate code of professional responsibility for lawyers in bankruptcy cases.

The Need For New Bankruptcy Ethics Rules: How Can "One Size Fits All" Fit Anybody?, Nancy B. Rapoport

Scholarly Works

Short discussion why dormant, temporary, actual conflicts (DTACs) in bankruptcy cases can't be handled appropriately under state ethics rules.

Turning The Microscope On Ourselves: Self-Assessment By Bankruptcy Lawyers Of Potential Conflicts Of Interest In Columbus, Ohio, Nancy B. Rapoport

Scholarly Works

This article attempts to devise an appropriate instrument to determine whether bankruptcy lawyers in Columbus, Ohio are able to identify potential conflicts of interest in bankruptcy cases. Although the article is unable to develop an appropriate instrument, it does discuss why the survey method is not appropriate for this type of study.

Has The Dip's Attorney Become The Ultimate Creditors' Lawyer In Bankruptcy Reorganization Proceedings?, Nancy B. Rapoport, C. R. Bowles

Scholarly Works

This article discusses the issues facing the lawyer for the estate in a bankruptcy case. It debunks the idea that the lawyer for the estate represents any single constituency, and it tries to redefine the fiduciary duties that the estate lawyer has to the bankruptcy estate.

Ethics: Is Disinterestedness Still A Viable Concept? A Roundtable Discussion, Nancy B. Rapoport

Scholarly Works

The transcript of a panel discussion about disinterestedness among Prof. John D. Ayer, the Hon. Charles N. Clevert, the Hon. Joel Pelofsky, Bettina Whyte, and Nancy B. Rapoport.

Turning And Turning In The Widening Gyre: The Problem Of Potential Conflicts Of Interest In Bankruptcy, Nancy B. Rapoport

Scholarly Works

This article is the first in a series of articles discussing the problem of conflicts of interest in bankruptcy cases. It argues that the traditional means for discovering and handling conflicts of interest - based on state-law ethics rules - fundamentally misconceives the problem in a bankruptcy context. State law ethics rules presume that the parties are always in static positions; in bankruptcy law, alliances shift all the time. The article proposes a possible method of handling potential conflicts of interest in bankruptcy cases.

The Carryforward Of Net Operating Losses And Other Tax Attributes After Bankruptcy Reorganizations., Martin M. Van Brauman

St. Mary's Law Journal

When stock is exchanged for debt in a bankruptcy reorganization, potentially abusive tax situations can result if the reorganization occurs strictly for the carryforward of tax attributes to the acquiring corporation. The basic question is to what extent the discharge of indebtedness provisions, the application of the various statutory and judicial requirements, and the consolidated return regulations prohibit or restrict the carryforward of the tax history of the debtor corporation. Bankruptcy reorganization for a corporation under Chapter 11 of the Bankruptcy Code can take the form of either a recapitalization or a reorganization. Because a “G” reorganization involves a discharge …

Attorney Compensation In Bankruptcy: The Ethical Obligation, Kimberly S. Armstrong

University of Baltimore Law Forum

No abstract provided.

Abstracts Of Recent Cases, Thomas Richard Ralston

West Virginia Law Review

No abstract provided.