Blog
Judge Humrickhouse Appointed Chief Judge
On July 28, 2014, Bankruptcy Court Judge Stephani W. Humrickhouse was appointed Chief Judge of the United States Bankruptcy Court for the Eastern District of North Carolina for a term of office not to exceed seven years. A New York…
Bank Card Delinquencies Near a Twenty Year Low
The American Bankers Association has reported that credit card delinquencies have fallen to 2.44 percent, well below the fifteen year average of 3.82 percent. This is good news for two reasons. First, it means that the economy is improving. After…
Inherited IRA's Are Not Exempt as "Retirement Funds" in a Bankruptcy Case
The Supreme Court of the United States issued its opinion June 12, 2004 in Clark v. Rameker, No. 13-299. The important holding from the Court is that inherited individual retirement accounts are not “retirement funds” under the meaning of section 522(b)(3)(C) of the federal…
Eastern District of North Carolina Bankruptcy Court Opinion on Criminal Prosecution
A recent opinion issued on June 6, 2014 from the Bankruptcy Court for the Eastern District of North Carolina found that a creditor had not violated the bankruptcy code based on the following facts: In March 2008 a creditor realized…
Eastern District of North Carolina Bankruptcy Court Opinion on Special Circumstances
Eastern District of North Carolina Bankruptcy Judge Randy Doub ruled in the Hurst case on June 20, 2014 that unusually high commuting expenses (70 miles for husband and 95 miles for wife) were not sufficient to show special circumstances such…
Bankruptcy Courts and Jurisdiction: The Case of Executive Benefits Ins. Agency v. Arkison
The question of a bankruptcy court’s jurisdictional authority–whether a court has the authority to hear and render final decisions on particular claims–at first glance probably means precious little to most individuals or businesses considering whether to file a bankruptcy case…
Eastern District of North Carolina Bankruptcy Court Case Regarding Fraudulent Transfer Recovery
Eastern District of North Carolina Judge Randy Doub recently ruled against the plaintiff/trustee in a fraudulent transfer action captioned Angell v. Craft Air Services, LLC. The defendant had been paid funds by the corporate chapter 7 debtor over the 2…
You Can Check Out Anytime You Like, but You Can Never Leave
I know, I know, The Eagles are terrible. But the most famous line from their most famous song popped into my head yesterday while reading a recent opinion by Judge Humrickhouse in which she denied a debtor’s motion to have…
Do Not Assume It Is Advisable to Surrender Recreational Items Before or During Bankruptcy
In addition to the potential pleasure that might be enjoyed as a result of owning and utilizing certain recreational items (e.g. boat, camper, motorcycle, ATV, etc), there may also be a financial/legal benefit in a bankruptcy case. The reason is…
Waiver of Attorney-client Privilege in Corporate Chapter 7 Cases
When a corporation is a chapter 7 debtor a trustee is appointed by the court to act on behalf of the bankruptcy estate. The chapter 7 trustee has the power to waive the attorney-client privilege with regards to communications that…
