Latest News from the Office

A discussion of the latest developments in law that we find interesting.

A BRIEF HISTORY AND CONSIDERATION OF THE EVOLUTION OF TAX CLAIMS IN A CHAPTER 11 REORGANIZATION - VIII

ConclusionThe Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 introduced several small but important changes to the bankruptcy code that proved to improve the overall status of secured tax claims.

Continue Reading

A BRIEF HISTORY AND CONSIDERATION OF THE EVOLUTION OF TAX CLAIMS IN A CHAPTER 11 REORGANIZATION - Part VII

III.RecommendationWith a few simple changes, much has been accomplished to remove the discrimination against secured tax claims. However, tax claims still must choose between a secured status and the priority status that receive the protections granted by Congress.

Continue Reading

A BRIEF HISTORY AND CONSIDERATION OF THE EVOLUTION OF TAX CLAIMS IN A CHAPTER 11 REORGANIZATION - Part VI

II. Evolution of Tax Claims in the CourtsB.Post-2005 Court I.Greenwood In Greenwood Point, while evaluating a plan for reorganization that included seven classes,[1]the court determined that a secured tax claim could constitute a class for purposes of § 1123.

Continue Reading

A BRIEF HISTORY AND CONSIDERATION OF THE EVOLUTION OF TAX CLAIMS IN A CHAPTER 11 REORGANIZATION - Part V

II.Evolution of Tax Claims in the CourtsA.Pre-2005 Court I.Haas The case of In re Haas, clearly demonstrates the discrepancy that existed between secured tax claims and priority tax claims.[1]In this case, the taxpayer had both types of claims, a claim for income taxes amounting to $617,000, and a claim for employment taxes amounting to $68,000.

Continue Reading