In Mejia v. Reed, 31 Cal. 4th 657 (2003), the California Supreme Court held that: 1) transfers of real property under a Marital Settlement Agreement (“MSA”) may be fraudulent transfers under the Uniform Fraudulent Transfer Act (“UFTA”); 2) for purposes of determining insolvency, the value of future child support should…
In a case of first impression, in In re Markosian, 506 B.R. 273 (9th Cir.BAP Cal) 2014 WL 956475, the 9th Circuit Bankruptcy Appellate Panel (BAP) held that an individual debtor’s postpetition Chapter 11 earnings that are property of the debtor’s bankruptcy estate revert back to the debtor upon a…
In In re Dale, 505 B.R. 8 (B.A.P. 9th Cir. 2014), the BAP held that for purposes of determining what constitutes property of the bankruptcy estate in a Chapter 13 bankruptcy, §1306 of the Bankruptcy Code includes all property described in §541, but expands the 180 day post-filing timeframe of…
In In re: John Shart and Elke Gordon Shardt, an unpublished decision by the United States Bankruptcy Appellate Panel (BAP) for the Ninth Circuit, the BAP affirmed the bankruptcy court’s ruling that chapter 7 co-debtor’s spouse did not directly engage in fraudulent conduct, but remanded the action back to bankruptcy…
In January, 2014, California’s current limited liability company act, the Beverly-Killea Limited Liability Company Act (“Beverly-Killea”), will be replaced by the California Revised Uniform Limited Liability Company Act (“RULLCA”). RULLCA is based on the Revised Uniform Limited Liability Company Act, which was drafted and approved by the National Conference of…
In January, 2014, California’s current limited liability company act, the Beverly-Killea Limited Liability Company Act (“Beverly-Killea”), will be replaced by the California Revised Uniform Limited Liability Company Act (“RULLCA”). RULLCA is based on the Revised Uniform Limited Liability Company Act, which was drafted and approved by the National Conference of…
In Bullock v. Bankchampaign, N.A., 569 U.S. ___ (2013), the United State Supreme Court held that the term “defalcation” in the Bankruptcy Code includes a culpable state of mind requirement involving knowledge of, or gross recklessness in respect to, the improper nature of the fiduciary behavior giving rise to liability.…
In re: M.P. Construction Company, Inc., an unpublished decision by the United States Bankruptcy Appellate Panel (BAP) for the Ninth Circuit, the BAP affirmed the bankruptcy court’s ruling that ’cause’ existed to dismiss a corporate debtor’s chapter 7 bankruptcy under Bankruptcy Code Section 707(a) and to impose sanctions on debtor…
In In re: Castillo, the Bankruptcy Court for Central District of California held that “after making an 1111(b) election, an undersecured creditor may include in its 1111(b) secured claim post-petition attorneys’ fees, but not post-petition interest.” Factual Background and Procedural History Chapter 11 debtor Idalia Roxana Castillo (Debtor) owned six…