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THE CONSUMER BANKRUPTCY LETTER
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In This Issue:
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Nov. 26, 2003
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BANKRUPTCY THIS WEEK . . .
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LEGISLATION & REFORM NEWS . . .
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The One-Stop site for Consumer Bankruptcy Lawyers
Books / Software / Periodicals
FEATURED -
King's DISCHARGING TAXES IN BANKRUPTCY ed. 2000
5th ed. • 915 pages • 75 exhibits and checklists • over 1,000 cases cited • indexed $95 - 2002 Supplement available
This book has been called "the bible" for discharging taxes in consumer bankruptcy cases. Used by thousands of lawyers, trustees, judges and other tax professionals across the country, it explains in simple yet comprehensive terms what kinds of taxes can be erased, when they can be erased, and how they can be erased in chapter 7, 13, or 11. It covers all the issues and traps for the unwary. This book is even used by revenue officers!
Says Ike Shulman, former President of the National Association of Consumer Bankruptcy Attorneys, "Every serious bankruptcy practitioner should have this book!"
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OTHER POPULAR TITLES -
King, Discharging Taxes in Bankruptcy with 2002 supplement $135
King, Marketing A Consumer Bankruptcy Practice $89
King, Chapter 7 Law & Practice $129.50
King, Chaper 13 Law & Practice $129.50
King, Fees & Ethics in Consumer Bankruptcy Cases $79.95
NCLC, Consumer Bankruptcy Law & Practice $140
James Pub, Bankruptcy Courts & Procedures $110
Aspen, Basic Bankruptcy Law For Paralegals $79.95
Aspen, Automatic Stay Litigation $195
Juris, Fundamentals of Bankruptcy & Corporate Reorganization $80.75
CD TimeValue, TValue5 Interest Calculator $149.00
CD Gold, Tax Discharge Chronometer $139.00
CD Collier TopForm Bankruptcy System $700
OVER 100 SELECTIONS TO CHOOSE FROM
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DOUBTS GROW ABOUT PASSAGE OF REFORM ACT THIS YEAR
Congress is likely to adjourn this year without enacting legislation to force more bankruptcy filers to pay off more of their debts.
This afternoon (Nov. 25, 2003) the House filed the 2004 omnibus appropriations bill, apparently without the bankruptcy reform act. The Senate will not vote on the appropriations bill until it reconvenes in January.
The House passed a bankruptcy reform bill in March by an overwhelming 315-113 vote, but there is little hope of any action by the Senate before it closes shop "unless something comes out of left field," says Jeff Lungren, an aide to House Judiciary Committee Chairman Jim Sensenbrenner, R-Wis.
Lungren says supporters of bankruptcy reform now are looking to next year for persuading the Senate to act on the legislation, which has been approved by Congress three times in the past six years but has never been enacted.
Side issues, such as the Senate's insistence that the legislation include a provision that prevents abortion clinic protesters from using bankruptcy to avoid paying court fines or judgments, have torpedoed the bill in the past.
Informed sources expect to see the reform bill come back in the period January - March, next year.
SOURCE: Kent Hoover, Washington Business Journal; NACBA
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November 23, 2003
AMA eyes bankruptcy reform
The American Medical Assn.'s policy-making body will vote at its interim meeting next week on a measure designed to protect physicians' personal assets from being liquidated to pay malpractice settlements. The board of the Chicago-based physicians group wants Congress to amend the federal bankruptcy code to protect homes and retirement savings not already exempted from seizure by creditors. The change would enable physicians who face malpractice judgments that exceed their insurance coverage to hold onto some personal assets.
Crain's Chicago Business
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DIRECTOR OF STATE TAXING AGENCY MAY BE SUED TO STOP VIOLATION OF BANKRUPTCY TAX DISCHARGE
Here Debtor asserts that California Franchise Tax Board director Goldberg is violating federal bankruptcy laws in continuing to attempt to collect back taxes, and consequently can be sued pursuant to Ex Parte Young.
An order cannot be enforced against non-consenting States in an adversary proceeding where the State or a state agency is a named defendant, but an order can be maintained against a state official under the Ex Parte Young doctrine.
A suit seeking prospective equitable relief against a state official who has engaged in a continuing violation of federal law is not deemed to be a suit against the State for purposes of state sovereign immunity. See Ex Parte Young, 209 U.S. 123, 159-160, 28 S.Ct. 441 (1908); Will v. Mich. Dept of State Police, 491 U.S. 58, 71, n. 10, 109 S.Ct. 2304 (1989).
In re Ellet, __ B.R. __ (N.D.Cal. 2003)
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WASHINGTON D.C.
NEWS: In the face of Enron, WorldCom and other major ethical and financial fiascoes Congress has enacted a new form of bankruptcy. Codified as Chapter 6, Moral Reorganization of a Spiritually Corrupt Business or Individual, the act allows white-collar wheeler-dealers, important people, lobbyists, Catholic clergy, politicians and major accounting firms whose spiritual net worth is insufficient to cover its sleazy lying, theft, fraud, greed and stinking hypocrisy, to come forward and obtain a moral fresh start in life.
The meetings of creditors will be presided over by children, prostitutes and dogs; it is believed that they will be able to quickly identify those debtors who are not pure of heart by the first date of the meeting of creditors, which is a prerequisite for having one's moral plan confirmed.
Only sole practitioners will be permitted to represent moral bankrupts. The reason for this is the fear that the amount of hypocrisy prevalent in larger law firms will constitute a de facto conflict of interest. Also, it is believed that sole practitioners as a rule are too dumb and broke to be swept up in their clients' schemes to defraud the court.
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