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Limitations On Use Of The California Homestead Exemption In Bankruptcy Cases: The Case For Following In Re Pladson, Leslie Burton, Jeffrey C. Wurms
Limitations On Use Of The California Homestead Exemption In Bankruptcy Cases: The Case For Following In Re Pladson, Leslie Burton, Jeffrey C. Wurms
Publications
Two decisions, a 1991 California Court of Appeal decision, Spencer v. Lowery, and a 1993 United States District Court for the Northern District of California decision, In re Pladson, severely restricted the homestead exemption available in bankruptcy cases filed in California. Some bankruptcy courts have refused to follow the Spencer and Pladson cases and the California Legislature has passed new legislation on the use of the homestead exemption in bankruptcy. This article will explore the background and rationale of the decisions and the legislative scheme, and offer support for limiting the Homestead exemption in bankruptcy cases.
Saybrook Manufacturing: Is Cross-Collateralization Moot?, Karen Gebbia, Lawrence E. Oscar
Saybrook Manufacturing: Is Cross-Collateralization Moot?, Karen Gebbia, Lawrence E. Oscar
Publications
This article examines the Saybrook decision in the context of prior case law and the general principles underlying the Code. The first section lays the foundation for an analysis of Saybrook by identifying the fundamental tenets of the Code and outlining the protections available under the Code to preserve secured creditors' property interests in their collateral and to induce lenders to provide DIPs with new credit. The next section defines cross-collateralization, analyzes the Saybrook decision in the context of prior case law, and considers whether cross-collateralization is permissible under the Code's express provisions and general policies. The authors conclude that …