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Articles 1 - 14 of 14
Full-Text Articles in Law
The Secured Party And His Nemesis, The Trustee In Bankruptcy: After-Acquired Property, Unidentified Proceeds, And Selected Preference Problems, John P. Finan
Akron Law Review
A trustee in bankruptcy, in addition to succeeding to the rights of the bankrupt,' has several avoiding powers. Some of these avoiding powers are based on practices which, like vice, are of "so frightful mien that to be hated [need] but to be seen." Preferences may not be included among such practices. Indeed, the English view exhibits ambivalence towards preferences. At one time it regarded "preferences [as] the good fortune of the creditor." A later view was "that the preferring of one creditor over others within a short time of bankruptcy and in contemplation thereof, was a 'fraud on the …
Access To Civil Courts - Indigents - Filing Fee; United States V. Kras, William I. Arbuckle
Access To Civil Courts - Indigents - Filing Fee; United States V. Kras, William I. Arbuckle
Akron Law Review
Robert William Kras presented his voluntary petition in bankruptcy to the United States District Court for the Eastern District of New York in May of 1971. With the petition his Legal Aid Society Attorneys filed a motion for leave to proceed without prepayment of any of the filing fees required as a prerequisite to discharge. Kras alleged that he was unable to pay the fees, even in installments, and that they should not be required of him either because (1) he was entitled to proceed in forma pauperis under the Federal Statute, or (2) because the provisions of the Bankruptcy …
The Timing Of Perfection Of Security Interests Under The Uniform Commercial Code And The Bankruptcy Reform Act, Richard A. Mann, Michael J. Phillips
The Timing Of Perfection Of Security Interests Under The Uniform Commercial Code And The Bankruptcy Reform Act, Richard A. Mann, Michael J. Phillips
Akron Law Review
This article will examine this new relationship as it applies to a specific problem created by the interaction between Article 9 and bankruptcy law: the timing of a "transfer" when a security interest is challenged as preferential in a bankruptcy proceeding. Resolution of this question is often critical for determining the secured party's ability to recover assets pledged as collateral when the debtor goes into bankruptcy. The article will begin by explaining the "timing of transfer" problem as it arose under Article 9 and the Bankruptcy Act. Then it will describe and evaluate the new solution provided by the Bankruptcy …
The Rejection Of Collective Bargaining Agreements Within Bankruptcy Reorganization: Reconciling A Legislative Dilemma, Gust Goutras
The Rejection Of Collective Bargaining Agreements Within Bankruptcy Reorganization: Reconciling A Legislative Dilemma, Gust Goutras
Akron Law Review
In 1981, a Dallas based conglomerate, LTV Corporation, spun-off a subsidiary known as Wilson Foods. The purpose for this action was that Wilson Foods, the nation's fifth largest meat packer was suffering from financial difficulties. Shortly after the spin-off, Wilson Foods entered into a collective bargaining agreement with its unionized employees, initiating a wage freeze through 1985. Under this arrangement, Wilson Foods' losses continued to escalate.
Adequate Assurance Of Payment Under Section 366 Of The Bankruptcy Code: A Term For Interpretive Flexibility Or Judical Confusion?, Veryl Victoria Miles
Adequate Assurance Of Payment Under Section 366 Of The Bankruptcy Code: A Term For Interpretive Flexibility Or Judical Confusion?, Veryl Victoria Miles
Akron Law Review
This article will focus on the interpretive struggle that the courts have encountered in making determinations of what constitutes adequate assurance of payment under section 366 and how this struggle might be eliminated so as to make compliance with the requirements of adequate assurance of payment less of a problem for the utility and bankrupt debtor. It is the thesis of this article that section 366 determinations of adequate assurance have resulted in interpretive confusion, leaving debtors and creditors with little guidance as to what criteria should be considered in negotiating an adequate assurance of payment. The recommended solution to …
Section 542(C) Of The Bankruptcy Reform Act Of 1978 And Section 4-303 Of The Ucc: A Less Than Perfect Fit?, John P. Finan
Section 542(C) Of The Bankruptcy Reform Act Of 1978 And Section 4-303 Of The Ucc: A Less Than Perfect Fit?, John P. Finan
Akron Law Review
The Uniform Commercial Code (UCC) 4-303 addresses two areas where the UCC and the Bankruptcy Code intersect. The first relates to the vulnerability of drawee banks that honor checks after their customer has taken bankruptcy (has filed a voluntary petition or is the defendant in an involuntary case); the second relates to the timing of transfers made by check under 547 of the Bankruptcy Code (the preference section). In both areas there is a less than perfect fit between the Bankruptcy Code and UCC 4-303. The first area poses problems for practitioners whose clients have received notice of bankruptcy in …
Section 547(C)(2) Of The Bankruptcy Code: The Ordinary Course Of Business Exception Without The 45 Day Rule, David J. Desimone
Section 547(C)(2) Of The Bankruptcy Code: The Ordinary Course Of Business Exception Without The 45 Day Rule, David J. Desimone
Akron Law Review
This article will look at some of the principles set forth by case law and provide a more structured method of analyzing cases under section 547(c) (2). In addition, it will examine a few problem areas that are certain to arise in section 547(c) (2) litigation in the near future: (1) Does section 547(c) (2) now protect principal payments on long term debt?; and, (2) will section 547(c) (2) protect a payment to one creditor when all or nearly all other creditors were not paid during the preference period? But before doing so, a short explanation of the Code's definition …
Not So Secure: Should Social Security Benefits Be Considered In The Good Faith Analysis Under 11 U.S.C. § 1325(A)(3)?, Casey J. Davis
Not So Secure: Should Social Security Benefits Be Considered In The Good Faith Analysis Under 11 U.S.C. § 1325(A)(3)?, Casey J. Davis
Akron Law Review
Part II of this Comment provides background information about Chapter 13 bankruptcy. This section is important because it provides a foundation for the remainder of this Comment. Part III of this Comment explores the source of this split and how the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“BAPCPA”) has affected this issue. Within Part III, this Comment will discuss why Congress enacted BAPCPA, the largest overhaul of bankruptcy law since its origin, and why BAPCPA did not affect the good faith requirement under § 1325(a)(3) even though BAPCPA drastically altered bankruptcy law. In addition, this section also …
Can You Hear Me Now? Good. The Nextwave Of Options For The Fcc, In Light Of Fcc V. Nextwave Personal Communications, Inc., Susan K. Slam
Can You Hear Me Now? Good. The Nextwave Of Options For The Fcc, In Light Of Fcc V. Nextwave Personal Communications, Inc., Susan K. Slam
Akron Tax Journal
This Note examines the competing interests involved when a company has personal communications services (PCS) and spectrum licenses granted by the FCC and reorganizes under Chapter 11 of the Bankruptcy Code. Part II provides a framework of the FCC's distribution of spectrum and PCS licenses, the relevant provisions of the Bankruptcy Code, an analysis of the FCC's actions as both a regulator and creditor, and an overview of leading cases that have been decided in this area. Part III provides a statement of facts, including the procedural history and the Supreme Court's decision in FCC v. NextWave Personal Communications, Inc. …
Rethinking The Jurisdiction Of Bankruptcy Courts Over Post-Confirmation Federal Tax Liabilities: Towards A New Jurisprudence Of 11 U.S.C. 505, Shu-Yi Oei
Akron Tax Journal
This paper argues that the current approach that bankruptcy courts have taken in circumscribing the reach of § 505 over liabilities that may arise after the plan has been confirmed and discharged is unsatisfactory. Instead of turning to jurisdictional and constitutional sources external to § 505, the reach of § 505(a) should be determined through imposing a bright line limitation internal to § 505 itself. It is the contention of this paper that based on the location of § 505 in the Bankruptcy Code, the overall structure of the Code, and the legislative history of the provision, the authority contained …
Bankruptcy Officials Vs. The Internal Revenue Service: The Beat Goes On, Craig J. Langstraat, K. Dianne Jackson
Bankruptcy Officials Vs. The Internal Revenue Service: The Beat Goes On, Craig J. Langstraat, K. Dianne Jackson
Akron Tax Journal
This author has previously addressed several areas of conflict between bankruptcy officials; i.e., trustees and judges, and the Internal Revenue Service ("IRS"). Due to continued litigation, both in the U.S. Supreme Court and in certain federal courts of appeal, some of these areas will be reevaluated in this article. In addition, new areas of conflict resulting in litigation in various levels of the federal court system will be discussed. Policy and statutory modifications will be suggested to alleviate the growing costly burden of litigation.
Bankruptcy Officials Vs. The Internal Revenue Service: A Federal House Divided Against Itself, Craig J. Langstraat, Mark S. Aquadro
Bankruptcy Officials Vs. The Internal Revenue Service: A Federal House Divided Against Itself, Craig J. Langstraat, Mark S. Aquadro
Akron Tax Journal
This article will discuss several current areas of dispute between bankruptcy officials; i.e., trustees and judges, and the Internal Revenue Service ("IRS") as evidenced by litigation in the U.S. Supreme Court and certain federal circuit courts of appeal. A policy resolution to the numerous conflicts will be suggested along with specific statutory modifications to alleviate the costly burden of continued future litigation.
Bankruptcy As An Alternative To The Statute Of Limitations For Relief From Overdue Income Taxes, Harold E. Wolfe Jr.
Bankruptcy As An Alternative To The Statute Of Limitations For Relief From Overdue Income Taxes, Harold E. Wolfe Jr.
Akron Tax Journal
This article analyzes the situations in which a bankruptcy filing could be used as an alternative to the expiration of the statute of limitations on collections and sets forth various considerations that should be reviewed by the practitioner prior to a bankruptcy filing. Practitioners are cautioned that there are many collateral consequences resulting from a taxpayer's bankruptcy petition filing and each case must be analyzed carefully in light of the interplay of the Bankruptcy Code, the Internal Revenue Code and the sparse case law available in this area.
Report On Tax Aspects Of Farmers In Bankruptcy, Ralph T. Turner
Report On Tax Aspects Of Farmers In Bankruptcy, Ralph T. Turner
Akron Tax Journal
This article will deal only with the individual taxpayer who utilizes the bankruptcy court and not with the tax treatment of corporations and partnerships in bankruptcy. There are special rules for the tax treatment of these entities. This article will review the general principles of tax treatment of an individual whose indebtedness was discharged in bankruptcy under the prior law and under the Bankruptcy Tax Act of 1980. After this general review and comments on their application to farmers, a hypothetical fact situation will be reviewed and the handling of the tax returns for the individual and the bankruptcy estate …