Bankruptcy Law Commons^™

Chapter 7 Bankruptcy And Section 707(B): Should The Subjective "Substantial Abuse" Standard Be Replaced By An Objective "Means-Testing" Formula?, J. Kaz Espy

Mercer Law Review

Because our society has become more and more reliant on the concept of "credit," the level of individual indebtedness has risen and, as a direct corollary, individual filings for bankruptcy relief have also increased. Credit can be beneficial to John D. Consumer ("Consumer") by allowing him to take possession of goods and pay for them at a later date. This in turn stimulates the economy by giving consumers more buying power. However, when Consumer fails to use discretion in his use of credit, he quickly finds out how the seemingly wonderful concept of credit can become a nightmare. If Consumer …

Bankruptcy, James D. Walker Jr., Amber Nickell

Mercer Law Review

Since last year's article, the courts in the Eleventh Circuit have issued-with a few exceptions-mostly routine bankruptcy opinions. The United States Supreme Court, however, has been very busy, deciding six bankruptcy-related cases. It makes sense to begin with one of the most anticipated of those opinions.

Bankruptcy, W.H. Drake Jr., Christopher S. Strickland

Mercer Law Review

Undeniably, 1999 proved to be an important year for bankruptcy in the Eleventh Circuit Court of Appeals, with the circuit ultimately producing eleven opinions bearing upon the debt relief process. In keeping with the cosmopolitan nature of bankruptcy practice, these decisions involved the court's performance of diversified tasks, ranging from the interpretation of intricate Bankruptcy Code provisions to the construction of governing requirements from the Uniform Commercial Code and the resolution of potential conflicts between the bankruptcy process and various constitutional or state law provisions. Provided below is an overview of each decision rendered during 1999.

Bankruptcy, W.H. Drake Jr., Christopher S. Strickland

Mercer Law Review

Undeniably, 1998 proved to be an important year for bankruptcy in the Eleventh Circuit Court of Appeals, with the circuit ultimately producing a total of fourteen opinions having material bearing upon the debt relief process. In keeping with the cosmopolitan nature of bankruptcy practice, these decisions involved the court's performance of diversified tasks, ranging from the interpretation of intricate Bankruptcy Code provisions, to the construction of governing requirements from the Uniform Commercial Code, and the resolution of potential conflicts between the bankruptcy process and various constitutional or state law provisions. Provided below is an overview of each decision rendered during …

A Primer On 11 U.S.C. § 328(A) And Its Use In Alternative Billing Methods In Bankruptcy, Robert J. Landry Iii, James R. Higdon

Mercer Law Review

Compensation of attorneys and professionals in the bankruptcy field is one of the most written about areas in bankruptcy law. Professionals, both familiar and unfamiliar with the mandates of the Bankruptcy Code and Federal Rules of Bankruptcy Procedure, are having an increasingly difficult time obtaining approval for the envisioned compensation. Problems generally do not arise for debtors' attorneys in the run-of-the-mill Chapter 7 case or Chapter 13 case. Flat fees are charged in most of these cases, and applications to employ debtors' attorneys are not filed. Therefore, retention orders are not entered. However, outside the run-of-the-mill Chapter 7 or 13 …

Bankruptcy, W. Homer Drake Jr., Michael M. Duclos

Mercer Law Review

Unlike past years when the United States Court of Appeals for the Eleventh Circuit issued a tremendous number of bankruptcy decisions each term, 1997 turned out to be a very quiet year because the Eleventh Circuit issued only eight opinions addressing matters arising under the Bankruptcy Code. This Article is a survey of those 1997 bankruptcy decisions.

How Should Property Be Valued In A Cram Down?, Mark E. Beatty

Mercer Law Review

One of the most intriguing topics in bankruptcy law is the valuation of property in cram down cases, specifically Chapter 13 cases. This article will first present and discuss the different methods of valuation employed by the circuit courts before Associates Commercial Corp. v. Rash (Rash III) was decided by the Supreme Court and the reasoning behind these methods. The next section will discuss the opinion in Rash and the chosen method of valuation in Chapter 13 cram down cases. The third section will discuss the implications of the decision in Rash. The Article will conclude with …

Bankruptcy, W. Homer Drake Jr., Michael M. Duclos

Mercer Law Review

During 1996, the United States Court of Appeals for the Eleventh Circuit decided twenty-three cases in the area of bankruptcy law. These decisions covered a wide variety of issues arising under the Bankruptcy Code, as well as several issues concerning nonbankruptcy law. This Article is a survey of the bankruptcy decisions rendered by the Eleventh Circuit in 1996.

An Analysis Of In Re Piper Aircraft Corporation, Tara Adyanthaya

Mercer Law Review

In In re Piper Aircraft Corp., the Eleventh Circuit Court of Appeals determined when future claimants hold claims within the meaning of section 101(5) of the United States Bankruptcy Code (the "Bankruptcy Code"). Piper Aircraft Corporation filed for bankruptcy and attempted to reorganize under Chapter 11 of the Bankruptcy Code. Because many Piper aircraft were operational at the time of the filing, it was after confirmation of the reorganization plan, but arising out of or relating to products manufactured, sold, designed, or distributed by Piper prior to confirmation. The bankruptcy court appointed a Legal Representative to protect the interests …

Bankruptcy, W. Homer Drake Jr., Michael M. Duclos

Mercer Law Review

During 1995, the United States Court of Appeals for the Eleventh Circuit decided seventeen cases in the area of bankruptcy law. These decisions covered a wide variety of issues arising under the Bankruptcy Code,1 and one decision even concerned a case under the old Bankruptcy Act of 1898 ("Bankruptcy Act").2 This article is a survey of the bankruptcy decisions rendered by the Eleventh Circuit in 1995.

Bankruptcy, W. Homer Drake Jr., James W. Dilz

Mercer Law Review

During 1994 the United States Court of Appeals for the Eleventh Circuit decided thirteen cases under the Bankruptcy Code ("Code")' in the areas of discharge and dischargeability, preferences, fraudulent transfers, exemptions, lien avoidance, executory contracts, administrative expenses, postconfirmation default, attorney fees, substantive consolidation, and bankruptcy fraud. This Article is a survey of the bankruptcy decisions by the Eleventh Circuit in 1994.

Bankruptcy, W. Homer Drake Jr., James W. Dilz

Mercer Law Review

During 1992, the United States Court of Appeals for the Eleventh Circuit decided fifteen cases in the area of bankruptcy law. The decisions covered a diverse array of sections of the Bankruptcy Code (the "Code"). In addition to cases with practical application within the Eleventh Circuit, several decisions have national significance. This Article is a survey of each bankruptcy decision by the Eleventh Circuit in 1992.

Grissom V. Johnson: Just The Facts..., Dean C. Copelan

Mercer Law Review

In Grissom v. Johnson (In re Grissom), the Eleventh Circuit Court of Appeals established a case-by-case analytical model to determine when a foreclosure sale brought a "reasonably equivalent value" under 11 U.S.C. § 548. Absent fraud, collusion, or illegal or unlawful procedures, courts should presume that the price brought at the legitimate foreclosure sale is a reasonably equivalent value of the property. For a bankruptcy trustee "to avoid [a] foreclosure sale as [a] transfer of property for which [the] debtor received less than reasonably equivalent value," the trustee "must establish specific factors which undermine confidence in the reasonableness …

Johnson V. Home State Bank: Seven Plus Thirteen Can Equal Twenty, Lance Jones

Mercer Law Review

In Johnson v. Home State Bank (In re Johnson), the United States Supreme Court approved -the property-saving strategy of filing under Chapter 72 of the Bankruptcy Code, immediately followed by a filing under Chapter 13, the so-called "Chapter 20." The Court held that a mortgage lien that survived the discharge of the debtor's personal obligations in Chapter 7 is a "claim" for purposes of 11 U.S.C. § 101(5), and thus may be included by the debtor in a subsequent Chapter 13 plan.

Chapter 20 procedures typically follow a similar pattern. A debtor defaults on loan payments, including a …

Bankruptcy, W. Homer Drake Jr., James W. Dilz

Mercer Law Review

During 1991, the United States Court of Appeals for the Eleventh Circuit decided eighteen cases arising under or related to the Bankruptcy Code. These cases can be classified under the general headings of: Jurisdiction, preferences, claims against' the estate, discharge and dischargeability, substantive consolidation, and attorney fees. This Article is a survey of each of the decisions rendered by the Eleventh Circuit in 1991.

Bankruptcy, W. Homer Drake, James W. Dilz

Mercer Law Review

The United States Court of Appeals for the Eleventh Circuit decided numerous cases arising under the Bankruptcy Code (the "Code"), during 1990 that covered a wide spectrum of topics. The court adopted a test for analyzing the bankruptcy nexus of noncore litigation to help define the bounds of the bankruptcy court's subject matter jurisdiction. The court quelled concern over preferences in the retail automobile industry by holding that security interests perfected in accordance with state law may not be set aside in bankruptcy. The Chapter 13 practice has been changed in many bankruptcy courts in the aftermath of two appellate …

Bankruptcy, W. Homer Drake Jr., James E. Massey

Mercer Law Review

All of the cases relating to bankruptcy law decided by the Fifth Circuit in 1980 arose under the old Bankruptcy Act. The Bankruptcy Reform Act of 1978 applies to cases filed on or after October 1, 1979. Many of these recent decisions may be of more than merely academic interest, however, since the Fifth Circuit's approach to the issues presented may shed some light on what can be expected in its interpretation of the new Code.

Three cases decided by the Fifth Circuit in 1980 illustrate pitfalls in appellate practice. In Bad Bubba Racing Products, Inc. v. Huenefeld (In re …

Bankruptcy, W. Homer Drake Jr., James E. Massey

Mercer Law Review

The Court of Appeals for the Fifth Circuit decided few cases involving the Bankruptcy Act in 1976. Of these, only nine merit special attention. The right to file a bankruptcy petition without being fired was the subject of McLellan v. Mississippi Power & Light Co. Nothing in the U.S. Constitution or the Bankruptcy Act prohibits an employer from firing an employee who files a voluntary bankruptcy petition. The McLellan case, however, held that a plaintiff states a claim for relief under the Civil Rights Act of 1861 by alleging that his employer deprived him of his civil rights by firing …

Bankruptcy, W. Homer Drake Jr., James E. Massey

Mercer Law Review

The Court of Appeals for the Fifth Circuit rendered several opinions in 1975 involving bankruptcy law and practice. This article highlights the most important of those decisions with a view toward their application by the practitioner.

Corporations, Parnerships And Bankruptcy, Charles E. Nadler

Mercer Law Review

In that field of "business" law that is generally encompassed by the subjects of Bankruptcy, of Corporations, and of Partnerships, our survey year discloses the following current amendments to existing statutes, and the several cases decided by the appellate courts of Georgia.

Corporations, Parnerships And Bankruptcy, Charles E. Nadler

Mercer Law Review

In the field of Georgia Corporation Law some changes of significance were made during the survey year by amendments to the Corporation Act of 1938 and in the public revenue laws relating to the rate and method of computation of corporate taxes.