Bankruptcy Filings Hold Steady May 2018

Central District of California

2018 2017 2016 2015 2014
Jan 2,741 2,839 2,872 3,364 4,704
Feb 2,708 2,795 3,299 3,829 4,574
March 3,363 3,782 3,923 4,496 5,430
April 3,277 3,209 3,584 4,486 5,364
May 3,226 3,384 3,484 3,971 5,500
June 3,252 3,545 3,966 4,386
July 2,953 3,239 3,731 4,701
Aug 3,387 3,543 3,544 4,540
Sept 3,071 3,168 3,493 4,317
Oct 3,170 3,235 3,751 4,554
Nov 3,004 3,025 3,531 3,642
Dec 2,416 2,902 2,718 3,733
Total 15,315 37,262 39,819 44,880 55,445

Filings year to date CDCA.

Non-Commercial Commercial Chapter 7 Chapter 13 Chapter 11
14,088 1,232 11,838 3,288 191
0.92 0.08 0.77 0.21 0.01

Automatic Stay and Discharge Injunction Violations Program This Saturday – June 9, 2018 at 11am.

Saturday, June 9, 2018
11:00 a.m. to 1:00 p.m.
Southwestern Law School
 Automatic Stay and Discharge Injunction Violations
SPEAKERS:
  • Christopher P. Burke
  • Raymond H. Aver
  • M. Jonathan Hayes, Moderator
     There have been two stunning decisions recently dealing with the common issue of violations of the automatic stay and the discharge injunction. The first is In re Sundquistwhere Judge Christopher Klein in Sacramento awarded $45 million in damages and sanctions against a bank that held a foreclosure sale notwithstanding the prior bankruptcy filing. In In re Marino, Judge Bruce Beesley in Reno, Nevada awarded $119,000 in sanctions and damages when the bank continued contacting the debtor post discharge.
     Attorney Christopher Burke represented the Debtors in the Marino matter. After the court awarded the sanctions, Chris sought attorneys fees of $33,000 which he was awarded and later another $8,000 when the attorneys fees were not timely paid.
     In addition, Chris has filed a class action suit in district court against Ocwen alleging violation of the Telephone Consumer Privacy Act (“TCPA”). Ocwen moved to dismiss on the basis that the bankruptcy court’s ruling was res judicata. The district court denied that motion. Marino v. Ocwen Loan Servicing, LLC, 2017 WL 3671294 (USDC, D. Nevada 2017).
     The panel will also discuss the new 9th Circuit decision of In re Taggart, April 23, 2018, which ruled that the subjective knowledge of the creditor is a defense to a charge of violation of the discharge injunction. Mr. Hayes is involved in the appeal of Taggart as amicus.
     2 Hours of MCLE Credit Provided.
Times:
Registration: 10:00am – 11:00am
cdcbaa Membership Meeting: 10:30am – 11:00am
Program: 11:00 am – 1:00 pm
On-site parking $10.00  ”

LA County Bar Program on Fraudulent Transfers – June 12, 2018

Fraudulent and Voidable Transfers Update: Bankruptcy and Superior Courts 

Presented by: Remedies and Commercial Law & Bankruptcy Sections
Program Date: 

Tuesday, June 12, 2018

Los Angeles County Bar Association
1055 W. 7th Street, Suite 2700
Los Angeles, CA 90017
ProgramDescription:
Please join us for a lively discussion on avoiding and defending fraudulent transfers under the Bankruptcy Code and Uniform Voidable Transfers Act in Bankruptcy and Superior courts.

Speakers:
Hon. Julia Brand – U.S. Bankruptcy Court
Jason Wallach, Esq. – Gipson Hoffman & Pancione
Richard Burstein, Esq. – Brutzkus Gubner Seror Rozansky Weber LLP
Tim C. Hsu, Esq. – Allen Matkins Read more…

Ethics Corner – When is Depositing Funds into Client Trust Account Required?

New California Rule of Professional Conduct 1.15 requires that “all funds ‘including advances for fees, costs and expenses,’” received by the lawyer from the client or on behalf of the client must be deposited into a client trust account IF the atty “owes a contractual, statutory, or other legal duty” to the client.

In English you say?  If it’s the client’s money it has to go into the client trust account with two exceptions set forth below.  It is the attorney’s money if he sends the client a bill and the client pays it.  If the attorney gets money for work TO BE DONE, it’s the client’s money and must be deposited into the client trust account  – see exceptions below.

Exception 1 – a flat fee.  BUT, the atty must -in writing – tell the client that he can require that the money be put into the trust account AND that the client is entitled to refund if the work isn’t done.  IF the the flat fee exceeds $1,000, the client must sign the “writing.”

Exception 2 – a “true retainer.”  Per Rule 1.5(d), “A true retainer is a fee that a client pays to a lawyer to ensure the lawyer’s availability to the client during a specified period or on a specified matter, but not to any extent as compensation for legal services performed or to be performed.”  Once paid, the money no longer belongs to the client and doesn’t need to be deposited into the trust account.

Nice Definition of Of Counsel

Haven’t you wondered what Of Counsel means?  The new Rules of Professional Conduct of the State Bar of California (effective November 10, 2018) tell us in Comment (2) to Rule 1.0.1 “Terminology.”  The definition is

The term “of counsel” implies that the lawyer so designated has a relationship with the law firm,* other than as a partner* or associate, or officer or shareholder, that is close, personal, continuous, and regular.

It’s a little strange that the definition is not in the definitions – only in the comments to the definitions.

By the way, the new rules are here.

Great Summary of Wages and Hours Laws in California

Great summary of what all employers in California need to know.  Courtesy of DLA Piper.

Bankruptcy Inn of the Court Meeting – June 12, 2018

Join our hosts,
Anthony Friedman, Inn President and Honorable Neil Bason, Program Moderator on  
Tuesday, June 12, 2018
for the final installment of  The James T. King Bankruptcy Inn of Court Year
we will be meeting at 6:00 p.m. for the reception and 6:30 p.m. dinner at
Taix French Restaurant
1911 W. Sunset Blvd. 
Los Angeles, CA 90026
with a 
presentation by pupillage team 6 
“Chapter 11 Plan Issues and Confirmation Hearing” Read more…

Important Request from Nancy Curry’s Office re Processing Payments

———- Forwarded message ———-
From: Heather Pedroza <hpedroza@trusteecurry.com>
Date: Tue, May 22, 2018 at 1:26 PM
Subject: Updated Cover Sheets for Nancy Curry’s Office
To:

Hello,

Over the course of the last few years, the office of Nancy Curry, Chapter 13 Trustee has learned that more often than not, debtors do not include their bankruptcy case numbers and/or other pertinent information our office needs in order to process the payments/documents in a timely manner. This has been an ongoing issue and does create significant delays in our office. Read more…

Ethics and Getting Paid – Prof. Nancy Rapoport – July 21, 2018

Prof. Nancy Rapoport is our guest speaker along with Judge Erithe Smith for the cdcbaa Fifth Annual Jim King Bankruptcy Symposium.  Below is her top 15 most downloaded articles.  They can all be downloaded here.

(Rank)

 1.

Lord of the Flies (1963): Development of Rules Within an Adolescent Culture

SCREENING JUSTICE – THE CINEMA OF LAW: SIGNIFICANT FILMS OF LAW, ORDER AND SOCIAL JUSTICE, Rennard Strickland, Teree E. Foster & Taunya Lovell Banks, eds., William S. Hein & Co., 2006, UNLV William S. Boyd School of Law Legal Studies Research Paper No. 08-21
Number of pages: 23 Posted: 05 Dec 2006 Last Revised: 29 May 2008
Nancy B. Rapoport
University of Nevada, Las Vegas, William S. Boyd School of Law
Downloads707(31,176)
2.

Enron, Titanic, and the Perfect Storm

Fordham Law Review, Vol. 71, p. 1373, 2003
Number of pages: 23 Posted: 10 Feb 2004
Nancy B. Rapoport
University of Nevada, Las Vegas, William S. Boyd School of Law
Downloads600(38,868)

LABF Night with the Judges Coming Up – June 4, 2018

The Los Angeles Bankruptcy Forum is pleased to host its Annual Night with the Judges
on Monday, June 4, 2018, at The L.A. Hotel Downtown.
Come meet and greet a number of bankruptcy judges from the Central District of California who, following dinner, will each discuss a recent case with special meaning either to the judge or to our practice.  Our distinguished panel will again be moderated by the Hon. Sheri Bluebond, Chief Bankruptcy Judge of the U.S. Bankruptcy Court for the Central District of California.  This year our panelists will be:
Hon. Martin R. Barash
Hon. Neil W. Bason
Hon. Sheri Bluebond
Hon. Julia W. Brand
Hon. Scott C. Clarkson
Hon. Victoria S. Kaufman
Hon. Sandra R. Klein
Hon. Robert N. Kwan
Hon. Barry Russell
Hon. Erithe A. Smith
  Young Professionals Networking at 5:00 p.m.
Members: $95.00
Non-Members: $130.00
Government: $45.00
At door: Add’l $10.00
Doors open at 6:00 pm
Dinner at 6:45 pm
Program at 7:30 pm
Lights out at 8:45 pm
Location:
The L.A. Hotel Downtown
333 S. Figueroa St.
Los Angeles, CA