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Full-Text Articles in Law
Subchapter V: A Product Of The Small Business Reorganization Act Of 2019, Seth Snyder
Subchapter V: A Product Of The Small Business Reorganization Act Of 2019, Seth Snyder
Law Student Works
The Small Business Reorganization Act of 2019 (SBRA) went into effect on February 19, 2020 to provide small businesses bankruptcy relief that was previously untenable under a traditional chapter 11 reorganization. The SBRA created subchapter V of chapter 11, codified as 11 U.S.C. §§ 1181 – 1195, that is available for small business debtors with debts less than $2,725,625. The debt limit has been temporarily increased to $7,500,000 until March 26, 2021 by the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act).
The timing of the new law could not have been better considering how small businesses have …
The Supreme Court Report 2005-06, Julie M. Cheslik, Jamie Landes, Leah Pollema, Michael Shelton
The Supreme Court Report 2005-06, Julie M. Cheslik, Jamie Landes, Leah Pollema, Michael Shelton
Faculty Works
This article reviews the decisions of the U.S. Supreme Court for the 2005-2006 term focusing on decisions of particular relevance to state and local government. The Court's 2005-06 Term began with much speculation as one, then a second new Justice joined the Court. After the close of the 2004-05 Term, the Court suffered the loss of Chief Justice William Rehnquist, who succumbed to the thyroid cancer that had plagued him during that Term. President Bush ultimately replaced him with Judge John G. Roberts, who began the new Term and authored his fi rst opinion, the traditional 9-0 opinion of a …
Repose Or Not? Informal Objections To Claims Of Exemptions After Taylor V. Freeland, Kenneth D. Ferguson
Repose Or Not? Informal Objections To Claims Of Exemptions After Taylor V. Freeland, Kenneth D. Ferguson
Faculty Works
In Taylor v. Freeland & Kronz, over the trustee's untimely objection, the Supreme Court permitted the bankruptcy debtor to exempt $110,000 that was ineligible under substantive exemption law. The Court rejected the view that unless the debtor had a good faith claim to the exemption or a statutory basis for the exemption, even an untimely objection to the debtor's claim of exemption could terminate the debtor's right to the exemption. Disturbed by the prospects of debtors receiving unjustified windfalls, several courts have developed "informal objection" doctrines to circumvent the "strict constructionist" doctrine of Taylor. However, Taylor's potential for encouraging debtors …
Discourse And Discharge: Linguistic Analysis And Abuse Of The "Exemption By Declaration" Process In Bankruptcy, Kenneth D. Ferguson
Discourse And Discharge: Linguistic Analysis And Abuse Of The "Exemption By Declaration" Process In Bankruptcy, Kenneth D. Ferguson
Faculty Works
In Taylor v. Freeland & Kronz, the United States Supreme Court interpreted section 522(1) of the Bankruptcy Code according to its "plain meaning" and permitted a debtor to exempt $110,000 that was ineligible for exemption under substantive exemption law. The decision of the Court was premised on the fact that there was no timely objection to the claim of exemption. Although conceding that its decision might tempt debtors to claim exemptions in property ineligible for exemption on the chance that the trustee and creditors would fail to object in time, the Court cataloged a number of other remedies, including denial …
Does Payment By Check Constitute A Transfer Upon Delivery Or Payment?, Kenneth D. Ferguson
Does Payment By Check Constitute A Transfer Upon Delivery Or Payment?, Kenneth D. Ferguson
Faculty Works
The inherent delay between delivery and a check's payment is significant in determining whether the transfer occurs upon delivery or payment of the check. A dilemma is created if a check is received on the 93rd day before the debtor's bankruptcy petition is filed, but payment occurs on the 89th day before the petition is filed. When is the transfer of funds considered to have occurred for the purpose of determining whether the payment is avoidable as a preference, on the 93rd or 89th day before the petition was filed?
The first section of this article analyzes of the legal …