Bankruptcy Blogs

The Bankruptcy Section of the Atlanta Bar Association enthusiastically announces the commencement of monthly Breakfast Meetings in Year 2011. Please save the dates listed below and come join your colleagues for delicious food, collegiality and entertaining speakers. All meetings will from 7:30 am to 9:00 am.

The latest news and business reports say that "the economy is improving. All economic indicators show..." If that is true, and not just hype, as the commercial for a credit card asks, "What do you have in your wallet?"

The U.S. Supreme Court issued its 8-1 decision in Ransom today. Justice Kagan wrote for the majority and Justice Scalia wrote a dissenting opinion. It is reported that this is Justice Kagan's first opinion.

The U.S. Supreme Court ruled today that a debtor in bankruptcy is not allowed to take a deduction on the so-called means test for ownership costs for a vehicle, unless they are actually buying or leasing a vehicle. What does this mean?

In an 8-1 decision authored by Justice Kagan, the Supreme Court ruled today that an ownership expense is not "applicable" under the Means Test unless the Debtor has an actual payment. Ransom v. FIA Card Services, No. 09-907 (1/11/11). You can read the opinion here.

Justice Kagan framed the issue in this manner: