Handling Individual Chapter 11 Cases – Emerging BAPCPA Issues

Individual Chapter 11 cases are more and more commonplace. Debtors with more than $1,010,650 in non-contingent secured debt and $336,900 in non-contingent liquidated unsecured debt are ineligible for Chapter 13. Given that Massachusetts is still one of the most affluent states in the nation, Chapter 11 for individuals is often the best and only option.

This program will address the process for administering a Chapter 11 case, with particular emphasis on Chapter 11 individual debtors and changes wrought on such cases by the 2005 amendments to the Bankruptcy Code.

Specific Topics:

Petition/Credit Counseling

First Day Motions
i. Cash collateral
ii. Wages
iii. Retention of professionals
iv. Utility usage
v. Payment of priority taxes

Compliance Issues
i. Initial Debtor conference
ii. Section 341 meeting
iii. U.S. Trustee fees

Tax Considerations

Professional Retention and Compensation

Selected Confirmation Issues
i. Classification of claims
ii. Cramdown issues (absolute priority rule and whether it applies to chapter 11 individual debtors)
iii. Plan payments (payment requirements in the event of objections to a Chapter 11 individual debtor’s plan)
iv. Best interests test and exemption issues
v. Plan feasibility
vi. Discharge issues (changes to individual debtor discharge rules as a result of BAPCPA)

Case Closing

Panelists:

Eric K. Bradford, Esq.
Senior Trial Attorney
United States Department of Justice, Office of the United States Trustee

Andrew G. Lizotte, Esq.
Hanify & King, P.C.

Craig Jalbert, CIRA
Verdolino & Lowey, P.C.

Deirdre Keady, Esq.
Harmon Law Offices, P.C.
Moderator

John F. Sommerstein, Esq.
Moderator

Sponsoring Section/Committee(s):
Bankruptcy Law Section
Consumer Bankruptcy Committee

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