King Bankruptcy Media THE CONSUMER BANKRUPTCY LETTER
In This Issue: March 7 2005 
•   NOW ON DVD! KING'S TAX DISCHARGE SEMINAR
•   From BankruptcyBooks.com
•   EVENTS & SEMINARS
•   HEADS-UP ON RECENT CASES
•   REFORM DEBATE: AS OF MARCH 4
•   BANKRUPTCY HUMOR
NOW ON DVD! KING'S TAX DISCHARGE SEMINAR
From BankruptcyAcademy.com . . .

Morgan King's 4-hour seminar given for the Maryland State Bar Bankruptcy Section, in cooperation with the University of Baltimore School of Law and the University of Maryland School of Law - February 2005.

A practical presentation on discharging income and other kinds of taxes in consumer bankruptcy and small business cases in Chapter 7 and 13. Mr. King's presentation includes theory and case analysis, with an emphasis on the hands-on lawyering skills needed to handle a tax discharge case correctly. He discusses how to evaluate and understand sample tax transcripts, how to handle tax liens, traps for the unwary, and other practical and important aspects of handling delinquent tax liabilities.  

Join Morgan King, a nationally recognized authority on discharging taxes in bankruptcy, and gain the confidence and knowledge you need to properly evaluate and handle a routine tax discharge bankruptcy case.

ONLY $199!

CLICK HERE TO ORDER THIS PRODUCT

EVENTS & SEMINARS
30th ANNUAL STETSON UNIVERSITY COLLEGE OF LAW

SEMINAR ON BANKRUPTCY LAW & PRACTICE

TITLE OF EVENT = 30th Annual Seminar on Bankruptcy Law & Practice
DATES OF EVENT = December 8-10, 2005
LOCATION OF EVENT = Clearwater Beach, Florida
PRICE OF EVENT = $450
ORGANIZATION WEB SITE = www.law.stetson.edu/cle

The 30th Annual Seminar will focus on National Bankruptcy issues with a particular focus on corporate bankruptcy. A consumer bankruptcy component has been added for Thursday afternoon, following the Thursday morning primer session on the nuts and bolts of bankruptcy practice. The host location is located directly on the pristine shores of the Gulf of Mexico and provides a relaxing background to relax, learn, network and earn CLE.

CONTACT PHONE NUMBER = Roger Curlin 813-228-0226

CLICK HERE TO VISIT STETSON CLE WEB SITE

CLICK HERE TO VISIT STETSON WEB SITE
REFORM DEBATE: AS OF MARCH 4
REFORM BILL VOTING WILL RESUME MONDAY

There will be no roll call votes today, Friday, March 4, 2005. Voting will resume on Monday, March 7.
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DeLAY, SENSENBRENNER JOINT STATEMENT ON SENATE CONSIDERATION OF BANKRUPTCY REFORM LEGISLATION

WASHINGTON, March 4 /U.S. Newswire/ -- House Majority Leader Tom DeLay (R-Texas) and House Judiciary Committee Chairman F. James Sensenbrenner Jr. (R-Wis.) today commended the Senate's continuing floor consideration of legislation curbing abuse of our bankruptcy laws. The two issued the following statement:

"We agree with the overwhelming majority of our Senate colleagues that we must overhaul our bankruptcy laws to prevent abuse of them. For too long, some have used our bankruptcy laws as a financial planning tool rather than a course of last resort.

"We fully support the current version of Senate bankruptcy reform legislation. Should the Senate avoid any further substantive amendments to S. 256, we will promptly take it up in the House. Given strong, bipartisan House support for bankruptcy reform for the past eight years, we no doubt will pass it so it can be sent to President Bush for his signature.

SOURCE: usnewswire.com
_____________________

MOST AMENDMENT PROPOSALS BLOCKED BY REPUBLICAN MAJORITY

On Thursday afternoon and evening, in its consideration of S.256, the Bankruptcy Reform bill, the Senate denied Sen. Durbin's (D-IL) amendment #38, 40-58. The amendment addressed Predatory Lending.

The Senate denied Sen. Schumer's (D-NY) amendment # 42, 39-56. The amendment addressed Trusts.

The Senate denied Sen. Rockefeller's (D-WV) amendment # 24, 40-54. The amendment addressed Employee Wages and COBRA.

The Senate denied Sen. Durbin's (D-IL) amendment #49, 40-54. The amendment addressed Employee Wages.
_____________________

SEN. KENNEDY'S STATEMENT AND BANKRUPTCY DEBATE MATERIALS

March 02, 2005

The text of the existing bankruptcy reform bill, S.256, modified, and Senator Kennedy's full statement, as well as documents prepared and issued by Sen. Kennedy's staff may be seen here. It contains a variety of interesting and helpful documents, including many statistics about the impact of the current policy on the members of the military, and statements by many organizations opposing the provisions of the BRA.

To view, click on MORE BANKRUPTCY REFORM NEWS, below, then click on SEN. KENNEDY'S STATEMENT MAR 2 2005 link in the center column.

SOURCE: CLLA.org

MORE BANKRUPTCY REFORM NEWS

BANKRUPTCY THIS WEEK
From BankruptcyBooks.com
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“Last year I sat for the Certified Specialist examination in Personal and Small Business bankruptcy and used your primer on Chapter 7 as a base for my study, supplemented with West's Bankruptcy Code Manual. It must have been good ... I passed! I think I have all of your books and use them frequently.”

- Gerald H. Davis
Chapter 7 Trustee, San Diego, CA. 

CLICK HERE TO ORDER

HEADS-UP ON RECENT CASES
SOURCE: BKinformation.com
__________________________

COMPLAINT FOR EMOTIONAL DISTRESS FOR VIOLATION OF STAY IS DISMISSED

The bankruptcy court did not err is dismissing an adversary proceeding seeking emotional distress damages based upon a creditor's failure to remove a publicly-posted notice of sale where the sale itself was discontinued.

In re L'Heureux (8th Cir. BAP 2005)
_________________________

COLLATERAL FOR CREDIT MAY BE PROPERTY OF THE ESTATE

Although the "independence principle" establishes that a letter if credit is not property of the estate, where a debtor has posted collateral to secure the letter of credit, disputes pertaining to loss of such collateral do pertain to property of the estate and support bankruptcy jurisdiction.

In re Kaiser Group Internal Inc. (3rd Cir. 2005)
____________________

DEBTOR'S ATTORNEY HAD NO AUTHORITY TO BIND DEBTOR TO SETTLEMENT

The authority to negotiate with the opposing party does not by itself imply the authority to enter into a binding settlement. The court did not err in finding that the debtor's attorney had neither actual nor apparent authority to bind the debtor to a settlement.

In re Grayson (9th Cir. 2005)
_________________________

MISTAKEN STANDARD USED IN EDUCATIONAL LOAN HARDSHIP ACTION

The bankruptcy court erred by applying an incorrect standard in evaluating whether a debtor seeking an undue hardship discharge of her student loan could maintain a minimal standard of living. The federal poverty level standard is too strict of a standard. However, a middle class living is too liberal of a standard. The court erred in applying IRS guidelines rather than examining the individual facts pertinent to the case.

In re Howe (9th Cir. BAP 2005)

BANKRUPTCY CASE UPDATE

BANKRUPTCY CASE UPDATE
BANKRUPTCY HUMOR
CONSUMERS CAN SLEEP AT NIGHT KNOWING CONGRESS IS PROTECTING THEIR RIGHTS

"Vermont Senator James Jeffords is being called a hero today after he chased down a teenager who stole a wallet from his daughter-in-law on Capitol Hill. How fat are our kids getting when they're being run down by 68-year-old senators. ... At one point Jeffords yelled out 'Stop thief' and two hundred congressmen froze." —Jay Leno

"Some scholars have argued [that] the Constitution clearly states only Congress can declare war, and they are not allowed to simply delegate that authority to the president. However, you can get around that with the legal technique of taking the word 'constitution' and adding the word 'shmonstitution' to the end of it." —Jon Stewart

"Earlier this week the Senate voted 97-to-0 for tougher regulations. For example, when corporations buy a senator, they must now get a receipt." —Jay Leno

CLICK HERE TO ADD YOUR JOKE

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