by: Stephen B. Kass
The Law Offices of Stephen B. Kass PC; New York
Marguerite Snyder
The Law Offices of Stephen B. Kass PC; New York
Due to the recent recession, there has been a substantial increase in bankruptcy filings. For example, personal bankruptcy filings rose to 1.41 million in 2009, a 32 percent increase from 2008. [1] Real estate-driven bankruptcies have similarly increased substantially over the last few years.[2] A new phenomenon has also arisen. Many debtors no longer fight to retain their properties, but instead are abandoning their properties in both chapter 7 and chapter 13[3] cases. This surrendering of real estate has occurred with primary residences and investment property purchased within the last seven years, and has occurred primarily in the hardest-hit real estate markets. [4] Nationwide, the hardest-hit real estate markets have been in Florida, California, Nevada and Arizona.[5]
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ABI's 2010 Southwest Bankruptcy Conference will be held at the beautiful Four Seasons Hotel in Las Vegas September 23-25. This year's meeting offers something for everyone. An outstanding faculty of judges, academics and industry leaders will present on topics on everything from recent developments in consumer bankruptcy to ethical issues surrounding fiduciary duties and disclosure. Come for the networking and education and stay for the tranquility of the Four Seasons. The hotel itself is a non-gaming sanctuary, but is steps away from world-class gaming, entertainment and nightlife. Several of the sessions will be of interest to the committee.
Debators in the Great Debates session "Resolved: MERS Lacks Standing to Prosecute Motions for Relief from Stay on Behalf of Unnamed Beneficiaries" will discuss how electronic information and data transmission have made it more difficult for creditors to show a paper trail and enforce ownership of promissory notes. Ford Elsaesser of Elsaesser, Jarzabek, Anderson, Marks, Elliot & McHugh, Chtd. in Sandpoint, Idaho will argue that lenders lack standing to move for relief from stay unless they have adequate records. Rudy J. Cerone of McGlinchey Stafford, PLLC in New Orleans will argue the opposite. Please click the links below to view the materials.
Resolved: Servicers Lack Standing to Prosecute Motions for Relief from Stay on Behalf of Unnamed Beneficiaries
Paperless Pipedream? Rule 9011 and Standing Issues in the E-Bankruptcy World
Panelists in the session "ABCs of Representing Consumers in Bankruptcy Cases" will discuss malpractice pitfalls of which one should be aware, consumer-specific laws and procedures and basic consumer bankruptcy concepts and fundamentals. Claire Ann Resop of von Briesen & Roper, SC in Madison, Wis. will moderate. Panelists will include Karen L. Kellett of the Kellet Law Firm in Dallas, Hon. James M. Marlar of the U.S. Bankruptcy Court (D. Ariz.) in Tucson, Ariz. and Randy Nussbaum of Nussbaum & Gillis, P.C. in Scottsdale, Ariz. Please click the links below to view the materials by Mr. Nussbaum, Ms. Resop and J. David Krekeler.
Potential Malpractice Pitfalls in Bankruptcy
Examination of Bankruptcy Laws and Procedures Relating to Chapter 7 Consumer Bankruptcies
Bankruptcy Concepts and Fundamentals
Panelists in the session "Individual Chapter 11 Strategies and Issues" will discuss changes made to the individual chapter 11 procedure to make it more closely aligned with the chapter 13 process. James Patrick Shea of Shea & Carlyon, Ltd. in Las Vegas will moderate. Panelists will include Lee M. Kutner of Kutner Miller Brinen, PC in Denver, Patricia A. Redmond of Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson, P.A. in Miami, Hon. Eugene R. Wedoff of the U.S. Bankruptcy Court (N.D. Ill.) in Chicago and Brenda Moody Whinery of Mesch, Clark & Rothschild, PC in Tucson, Ariz. Please click the link below to view the materials.
Individual Chapter 11 Case Strategies and Issues
ABI’s Robert M. Zinman Resident Scholar for Spring 2010, Juliet M. Moringiello (Widener University School of Law), revised the two FAQ sections of the Consumer Bankruptcy Center at http://consumer.abiworld.org to be more comprehensive and to include updated information. Easily understandable by the consumer reader, the FAQ’s also now contain a “glossary” so that as you “hover” over an important bankruptcy term, an easy-to-understand definition appears in a bubble. We invite consumer practitioners to link to the site on their websites and encourage their clients to self educate by reading the FAQs.
