The Eighth Circuit BAP reversed an award of sanctions against a debtor’s attorney despite his filing a bankruptcy for an individual client without her knowledge. In the case of Briggs v. Labarge, issued Jan. 9 of this year, the appellate court ruled that attorney Briggs had indeed violated Rule 9011 in filing the bankruptcy [...]

As expected, consumer bankruptcy filings hit a new record high last year, rising nearly 32%, driven by the implementation of the new bankruptcy law. With the sweeping revisions to current bankruptcy law brought about by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (S. 256), which was enacted on October 17, 2005, [...]

An article from the San Antonio Business Journal notes that the number of residential foreclosures in Texas has risen according to the information published by www.foreclosure.com. Specifically, in December 2005, 2,997 new foreclosures were listed vs. 2,350. Similar increases are listed for the year ending December 31 vs. prior year statistics. [...]

Elizabeth Warren is a chaired Harvard Professor who researches and writes on bankruptcy issues in America filling a much needed void. A recent article in the Seattle Times notes her work on the disappearing middle class in America and states:
In Harvard Magazine http://www.harvard-magazine.com/ Warren documents what many of us have felt anecdotally: [...]

After filing for bankruptcy protection on October 17th, and owing $16.8 billion to creditors, Refco asked permission to pay $685 an hour for new Chief Executive Harrison Goldin and to hire CEO’s firm Goldin and Associates as crisis managers.
You can read the full article at http://money.cnn.com/2006/01/06/news/companies/refco.reut/index.htm
Michelle

Berry-Hill Galleries, a New York dealer in American art filed for bankruptcy under Chapter 11 on December 8th. The gallery’s chief restructuring officer, Alan M. Jacobs said that the filing resulted from disputes with the gallery’s lenders and with the auction house Christie’s.
You can read the full story at: http://www.theartnewspaper.com/article01.asp?id=122 [...]

In a case where the NY based mega-firm Weil Gotshal & Manges is being sued for malpractice by a church, a Texas Bankruptcy Judge has denied the plaintiff the “right” to a jury trial in Bankruptcy Court. In this case, the social services division of the Disciples of Christ is suing its lawyer for [...]

The debate over the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 continues. Professor Charles J. Tabb
of the University of Illinois College of Law, has written a paper discussing the “Top 20 Issues in the History of Consumer Bankruptcy.” The paper is intended to put the recent bankruptcy reform into an historical perspective. [...]

In an entertaining opinion issued January 4, the Seventh Circuit Court of Appeals held that Capital One was bound to a contract with Kmart whether it liked it or not.
The procedural issues are somewhat interesting: The bankruptcy court overseeing Kmart’s reorganization had allowed Kmart to assume an agreement with Capital One under which Capital One [...]

Northwest Airlines sought a waiver of the anti-trust laws as those might apply to an overseas route, but that waiver was denied by the DOT. Here is a quote from an article which describes the situation:
“Today’s DOT decision places these benefits in jeopardy, and does not help Northwest’s efforts to emerge from bankruptcy. It [...]