Law Commons^™

Changes To Bankruptcy Forms And Pending Bankruptcy Rule Changes, Kathleen Klepfer

Law Faculty Publications

Nearly every form used by the bankruptcy courts went through a significant overhaul in December as part of a seven-year project designed to streamline the filing process. The voluntary petition—old Form B1—has now been split into three separate forms: B101 for individual debtors, B201 for nonindividual debtors, and B401 for foreign proceedings. This overhaul altered the format of most additional forms and schedules, including the internal “director’s forms,” all of which are now available on the court’s main form page. Because most form numbers changed as well, the courts have provided a conversion chart that aligns the old and new …

Not Just Anna Nicole Smith: Cleavage In Bankruptcy, David G. Epstein

Law Faculty Publications

This is an essay about the unwarranted erosion of two basic bankruptcy principles:the cleavage effect of a debtor's filing of a bankruptcy petition and the equality of treatment of prepetition unsecured claims. These are two of the most fundamental bankruptcy concepts. First courts and then Congress have fashioned rules favoring the prepetition unsecured claims of vendors and lessors that are inconsistent with these concepts. We explore the origins of such favored treatment, question the commonly offered policy justifications, and argue that the prepetition unsecured claims of vendors and lessors generally should be afforded the same treatment in bankruptcy as other …

Bapcpa And Commercial Credit: Who (Sic) Do You Trust, David G. Epstein

Law Faculty Publications

Trying to understand and apply the many different provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) has caused people to yearn for the "good old days." At the National Conference of Bankruptcy Judges' (NCBJ) Annual Meeting in San Antonio in October 2005, there was a lot of talk about the "good old days" and some singing "'bout the good old days" at the NCBJ "Final Night Dinner" by a larger than life (at least as large as Sally Struthers), Wynonna Judd. And this has caused me to remember a daytime television show from my good …

At The Intersection Of Bankruptcy And Divorce: Property Division Debts Under The Bankruptcy Reform Act Of 1994, Meredith J. Harbach

Law Faculty Publications

Bankruptcy has long had unique implications for divorce settlements and debts between ex-spouses. Historically, some marital debts owed from one ex-spouse to another were excepted from the traditional policy of "discharge. " Bankruptcy law distinguished between debts in the nature of alimony, maintenance, and support, which were protected from discharge, and property division debts, which were not. This distinction often had harsh consequences for creditor ex-spouses. Reeently, Congress enacted the Bankruptcy Reform Act of 1994, in part to ameliorate this problem. The amended Bankruptcy Code providP..s better protection for some property division debts. In this Note, Ms. Johnson argues that …

Foreward, David G. Epstein

Law Faculty Publications

The decision by the Board of Editors of the Mississippi College Law Review to publish a bankruptcy symposium issue is a timely one. In the boardrooms of American businesses and the kitchens of American families, more and more people are talking about bankruptcy; more and more people are deciding to file bankruptcy petitions. This increase in bankruptcy filings is in part attributable to world, national, and local economic changes, in part attributable to changes in business and society and in business and societal values, in part attributable to changes in the bankruptcy law.

Chapters 11 And 13 Of The Bankruptcy Code--Observations On Using Case Authority From One Of The Chapters In Proceedings Under The Other, David G. Epstein

Law Faculty Publications

This Article will focus on the relationship between Chapter 11 and Chapter 13 of the Bankruptcy Code. A number of issues are similar or identical in Chapter 11 and Chapter 13. Furthermore, much of the language of Chapter 13 mirrors that of Chapter 11. This Article explores whether courts should apply case law and concepts of one chapter when similar issues arise in proceedings under the other chapter. Parts II and III of this Article address basic similarities and differences between Chapters 11 and 13. Parts IV, V, and VI examine three issues governed by statutory language common to both …

Discharges Under The New Bankruptcy Code, David G. Epstein

Law Faculty Publications

Prepared for the ALIABA Course of Study on Consumer Debtors and the Bankruptcy Code, September 24-25, 1981; revised by the author prior to publication in the Course Materials Journal.

Unless otherwise indicated, all section references are to the Bankruptcy Act of 1978, Title 11 of the United States Code ("Code"). "B.C.D." refers to the Bankruptcy Court Decisions; "B.R.," to West's Bankruptcy Reporter; "C.B.C.," to Collier's Bankruptcy Cases; and "UCC," to the Uniform Commercial Code.

Proceeding Under The Uniform Commercial Code, David G. Epstein

Law Faculty Publications

The Uniform Commercial Code is the "most important piece of business legislation ever prepared in the United States .... " "Article 9 is the most novel and probably the most important article in the Code." "The greatest change under the Code will probably come about in due time because of the so-called 'floating lien' "made possible in part by the Code's proceeds provision, section 9-306. The proceeds provision represents an innovation significant to both debtors and creditors. For example, in order to carry on his business, the borrower who avails himself of inventory financing often desires some right to dispose …