Friday, June 29, 2012

Bankruptcy Court Denies Recognition to Non-Debtor Releases Contained in Mexican "Concurso"

In a major decision interpreting chapter 15 of the Bankruptcy Code, Judge Harlin Hale has denied recognition of the provisions of the “Concurso” order obtained by Vitro, SAB in Mexico which would have released the liability of its non-bankrupt U.S. subsidiaries.    The Court carefully avoided any rulings which would have cast aspersions upon the Mexican legal proceedings while finding that U.S. law would not recognize the specific provision.  In re Vitro, SAB, No. 11-33335 (Bankr. N.D. Tex. 6/13/12).   The opinion can be found here.   

What Happened

Vitro S.A.B. de C.V. is a holding company formed in Mexico in 1909.   It operates its business through a network of subsidiaries.   It is the largest manufacturer of glass containers and flat glass in Mexico and its name is Latin for glass.   Vitro borrowed approximately $1.225 billion in unsecured notes which were guaranteed by virtually all of its subsidiaries.   Vitro also agreed to repay approximately $2.0 billion to its subsidiaries under circumstances which raised questions from its third party creditors.

When the global recession hit in 2008, Vitro could not pay its debts.   In November and December  2010, proceedings were filed in four different jurisdictions seeking to address the Vitro debts.

1.                  On November 17, 2010, some of Vitro’s American creditors filed involuntary petitions against fifteen of Vitro’s American subsidiaries in the Bankruptcy Court for the Northern District of Texas.   Ultimately, four of the debtors consented to relief and an additional two debtors filed voluntary petitions.  

2.                  On December 2 and 9. 2010, Vitro’s American creditors filed suit against Vitro and 49 of its subsidiaries in state court in New York.

3.         On December 13, 2010, Vitro filed a a voluntary judicial reorganization proceeding under the Ley de Concursos Mercantiles (the “Mexican Business Reorganization Act”) in the Federal District Court for Civil and Labor Matters for the State of Nuevo León, the United States of Mexico, seeking approval of a pre-packaged, “concurso” restructuring plan.

4.                  On December 14, 2010, Vitro filed a chapter 15 proceeding in the Bankruptcy Court for the Southern District of New York.  

While these filings set up the multinational squabble, this was only the beginning.   In Mexico, the pre-pack was rejected based on a finding that the subsidiaries were not entitled to vote.   The initial chapter 15 petition in New York was withdrawn after this filing.   On appeal, the Mexican court reversed and allowed the subsidiaries to vote.  A new chapter 15 proceeding was filed in New York.   However, the New York chapter 15 proceeding was transferred to the Bankruptcy Court for the Northern District of Texas.   The Bankruptcy Court for the Northern District of Texas granted a preliminary injunction against proceedings against the Vitro parent but not the subsidiaries.    The American creditors sought an order prohibiting the American subsidiaries from voting upon the Mexican concurso but were rebuffed. 

 The Mexican concurso was ultimately approved based upon the votes of the subsidiaries.    The concurso provided that the guarantees of the subsidiaries could not be enforced.   Thus, the subsidiaries were able to vote in favor of a plan which released their guarantees.    This set the stage for the Mexican representative of Vitro to seek an order from the Bankruptcy Court for the Northern District of Texas recognizing the concursoand enforcing the order to release the subsidiaries from their guarantees.

            To summarize:

1.      Vitro borrowed over a billion dollars guaranteed by its subsidiaries.
2.      Vitro filed a pre-packaged bankruptcy plan in Mexico.
3.      Vitro’s pre-pack was approved based on the votes of its subsidiaries.
4.      The Mexican plan released the subsidiaries from liability.
5.      The Bankruptcy Court for the Northern District of Texas was asked to recognize the order from the Mexican Court.
 
The Comity Question

This left the Bankruptcy Court with a difficult question:   should it enforce the Mexican concursoas a matter of comity or was there a countervailing rule under American law?   Fortunately for the court, chapter 15 provides some guidance.    Under section 1507(b), an American bankruptcy court may provide “additional assistance” to a foreign debtor, but only if five conditions are met, including that  American creditors are treated fairly and the distribution scheme is substantially the same as provided under title 11.    Additionally, section 1506 allows the Bankruptcy Court to decline to enforce the order of a foreign court if it would be manifestly contrary to the public policy of the United States.”   

Whether to recognize a foreign court order under section 1507(b) is largely a matter of comity.   While comity and comedy sound very similar they have strikingly different meanings.   According to Judge Hale:
Comity should be the Court’s primary consideration when applying § 1507(b). (citation omitted).  Comity has been defined as the “recognition which one nation allows within its territory to the legislative, executive or judicial acts of another nation, having due regard both to international duty and convenience, and to the rights of its own citizens or of other persons who are under the protections of its laws.” (citation omitted). Granting comity to judgments in foreign bankruptcy proceedings is appropriate as long as U.S. parties are provided the same fundamental protections that litigants in the United States would receive.

. . .  “The principle of comity has never meant categorical deference to foreign proceedings. It is implicit in the concept that deference should be withheld where appropriate to avoid the violation of the laws, public policies, or rights of the citizens of the United States.”  (citations omitted).  
 Opinion, pp. 7-8.

In ruling upon the parties’ contentions, the Court divided its ruling into objections it rejected, objections it sustained and issues it did not reach.

The Court rejected the argument that it should not enforce the Mexican order because of corruption in Mexico.   While the creditors’ expert presented evidence of corruption in Mexico in general, it did not connect this to the specific case.   Additionally, the objecting creditors’ expert on Mexican law testified that in forty years’ practice, he had never bribed a judge.   While the Court’s conclusion appears to be sound, as well as avoiding offense to America’s neighbor to the south, the implicit suggestion that corruption should be proved by bringing testimony from a witness who has personally participated in corruption is a bit unsettling.

The Court also dismissed a number of arguments based on fairness and compliance of Mexican law on the basis that these were issues best left to the Mexican court system.  

However, in the end, the Court concluded that American law would not allow a plan of reorganization which granted wholesale releases to non-debtor parties.    The Court stated:
Generally speaking, the policy of the United States is against discharge of claims for entities other than a debtor in an insolvency proceeding, absent extraordinary circumstances not present in this case. Such policy was expressed by Congress in Bankruptcy Code Section 524, and in numerous cases in this circuit. (citations omitted). This protection of third party claims is described both in terms of jurisdiction and also as a policy. (citations omitted).

The Fifth Circuit has largely foreclosed non-consensual non-debtor releases and permanent injunctions outside of the context of mass tort claims being channeled toward a specific pool of assets.  (citations omitted).
Opinion, p. 25.   The Court ultimately concluded that the guarantor release provision of the concursowas contrary to American law and should not be enforced.    While the Court’s conclusion may be sound, it is curious that the Court did not discuss case law out of the Northern District of Texas allowing a plan to enjoin pursuit of claims against a non-party who contributes property necessary to the success of a plan which was approved by the creditors and will pay unsecured creditors 100% of the amount of their claims.  In re Bernard Steinhard Pianos USA, Inc., 292 B.R. 109 (Bankr. N.D. Tex. 2002); In re Seatco, Inc., 257 B.R. 469 (Bankr. N.D. Tex. 2001).    Perhaps the Court felt that those cases were too far different from those of Vitro.   However, an acknowledgement of what would constitute “extraordinary circumstances” would have been welcome.    

The bottom line here is that comity is a good thing, but not when it means an end run around American law as applied to American creditors of an American subsidiary of a foreign company.

The Fifth Circuit has approved a direct appeal and has temporarily stayed enforcement of the decision.

                       



Wednesday, June 27, 2012

I've found "the one."

Yes, that's right.  It's tough, you know.  It takes a lot longer than most of us would like, and there's a whole lot of trial and error involved.  So many times, you come so close, but you know it's just not right.  There are little things you know you can compromise on, but other little things you know will just lead to disaster, or at least severe dissatisfaction and doom later on.  But, sometimes holding out is worth it.

Swimsuit+Fixing+Hair
I've searched far, wide, high, and low - and it finally happened for me.

I found a bathing suit that I actually like.

It is with much trepidation, my hands covering my face and a blanket over my head, that I show you THE bathing suit.  This was so much easier when I didn't think about how many people might see this.

Old Navy.  On sale.  Fits like a glove.  Curves like a 50's fox.  Bam.

That is all.





Swimsuit+BackSwimsuit+Front+Hair+Up



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Last August, nearly 50lbs down.
Swimsuit+Hair+Down 



Thursday, June 21, 2012

Balance.

When life gives you a box of chocolates, or some lemons, or a tornado or a big sunny double rainbow - I don't know.  Feed the tornado some lemons while you juggle chocolates trying to explain to one rainbow that the other one just forgot it's not its turn that day.

Life makes just about that much sense.

These last couple of months have been interesting!  I feel as though I've fallen into a trap of apologetic blogger who means well but doesn't post enough, etc.  So, let's just get that out of the way.  Sorry I haven't been posting as diligently as I once did.  But, well, rainbows are fussy and it turns out tornadoes love lemons.  The chocolates?  Well, they looked delicious - but I'm trying to maintain my girlish figure, so I thought I may as well learn to juggle.  With chocolate.  It's been interesting trying to figure out how to balance it all.

Which brings me to today's lesson:

Balance.

How does one obtain this?  Some people just seem to inherently have it.  Others never have it, but they're really good at juggling.  Some people learn it eventually...  Others just don't have it, don't get it, and never will.  I'm not quite sure where I fall on this spectrum, but the last few months have been a lesson in this department - that is for certain.

As I've mentioned before, I don't have a dimmer.  My switch is ON, or it's off...

Theatre+-+Seats+&+Right+Wall
Kalamazoo State Theatre, Kalamazoo, MI.  My home away from home.
I work at a beautiful, historic, old theatre.  Tucked in little coves along the theatre walls are these fantastic Liberace-esque candelabras.  Until a few years ago, their only light setting was on.  Really, really on.  We wanted to install dimmers so that we could dim the lights during our events to still have that romantic, old-school aesthetic, but we knew that it was going to be quite a tedious and laborious process to get it done.  This place is nearing 90 years old, and changes like this are always quite a feat.  Getting to wiring tucked in walls made of plaster, horse hair, and more is always a bit of a trick.  Every time I sneak into the theatre during a show and see the gentle glow, though, I'm reminded of how very much it was worth it.

I've been trying really hard to install my own dimmer, but apparently it required a couple of meetings, some brainstorming sessions, a cost-analysis, some compromise, and then some difficult rewiring to install this stinking dimmer.  Actually, I'd prefer to not think of it as a dimmer, but more of a...  balancer-thingamadoojob.  Yes, that's much better.

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Nearly 90-year-old light control panel.  The
switches next to the tape marked "on" actually
turn on stars and clouds on the theatre ceiling.
I'm quite hard on myself when I'm not as diligent about my food.  I stress out when I have a day that I didn't work out, and I really get perturbed when there are a few days in a week where I don't work out.  But there is so much life happening - meeting people, changing circumstances, fun things that pop up, and more.  I've had so much fun getting out and about, making an effort to be present, do things, have fun with people, enjoy new and old friends.  My role at work has evolved in a wonderful way, bringing along new, interesting challenges, and I am one busy, busy bee.  Finding time for everything I want to make happen in a day is a challenge.

So many interesting, and thankfully, good things are happening.  I've been reminded recently by a few of you outstanding people who I've gotten to know through this blog that, sometimes, it is good and it is necessary to pause, reflect, see how far you've come, and appreciate where you're at.

I'm in the mood to turn the lights on full blast again.  Brighten it up a bit.  But, I suppose adjusting my balancer-thingmadoojob to let life happen every now & then won't kill me.  I may not be as full bore at all times as I have been, but I'm certainly enjoying the glow.






Wednesday, June 13, 2012

Cameron Diaz: The Next Celebrity Nutritionist?

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Cameron Diaz is busy with her next project.  Her rep confirms her interest in writing a nutrition book to help young girls.  She wants to use her celebrity for good- to encourage girls not to fixate on being thin but instead just to make healthy choices.

A few thoughts:

Of all the celebrities that I see pitching these types of projects (I'm looking at you Gwyneth Paltrow), Cameron actually seems to model a healthy lifestyle.  She is not too thin, but instead looks muscular and strong.  We always see her keeping active with surfing and regular gym workouts.

It is reported that (in preparation for the book) Cameron will be visiting high schools to talk to teenagers about their food choices and what is important to them.  She wants to get their input, e.g., how do they decide what to eat? Although this work will not be a formal "Needs Assessment", I like that Cameron will be out in the community and talking to the teenagers who are the focus of her book.  Doing formative work before a project that engages your audience is incredibly important in public health.  Hearing and seeing what the health problem/s look like first hand allow us to craft more effective interventions.  So I applaud Cameron for planning to do this outreach versus just planning to write a book that may or may not address the challenges faced out in communities. For example, Cameron can discuss the importance of choosing fruit over potato chips, but if a teenager does not have access to affordable fresh fruit in their neighborhood, then the recommendation is not helpful.

One challenge to this effort is that even though Cameron appears to model a healthy lifestyle, she is still a member of the Hollywood community that has contributed to setting an unrealistic standard for beauty.  We have seen her on numerous magazine covers looking very thin and of course airbrushed.  In public health, we always have to think- "is this the right spokesperson"?  It is important to know how teenage girls view Cameron.  Do they see her as part of the problem?  Or part of the solution?

Another challenge is that (from my perspective), celebrity "nutritionists" do not have the best track record for safety and accuracy.  Take Cameron's friend Gwyneth Paltrow.  She has regularly promoted nutrition strategies like detox cleanses and gluten-free diets.  Her extreme choices do not send a message of moderation to teenage girls.  In addition, Gwyneth's cover photos also contribute to the unrealistic standard for beauty.

As I've discussed many times on this blog, celebrities can be an incredible resource for public health.  They have a visible platform and extensive reach to many of our audiences.  However, that can work for us or against us based on the accuracy and relevancy of their messages.  It is imperative that they work closely with clinicians (e.g., physicians, nutritionists) and public health practitioners to craft the messages and design outreach programs.

What do you think about Cameron writing a nutrition book?

Monday, June 11, 2012

A Tribute to a Meso Patient Champion: Pastor Thurl Charles Van Kirk

Van+Kirk+Head+Shot
Pastor Thurl Charles Van Kirk
Although the odds were always stacked against him, Pastor Thurl Charles Van Kirk defied the survival statistics for mesothelioma. He fought a courageous battle for four and a half years before passing away on May 25, 2012. In 2008, he was diagnosed with biphasic mesothelioma, an aggressive form of mesothelioma which is typically considered to be inoperable. Under the direction of UCLA surgical oncologist Dr. Robert Cameron, Pastor Van Kirk underwent an experimental chemotherapy regimen. Although the side effects were grueling at times, the chemotherapy proved to be effective in eradicating the inoperable constituents of the tumors. Pastor Van Kirk was then able to undergo a lung-sparing pleurectomy /decortication surgery with Dr. Robert Cameron in September 2008.

Through the years, Pastor Van Kirk enjoyed a remarkable period of no tumor recurrence. But like many cancer patients, his experiences were not without their share of uncertainties and concerns. He beat the odds statistically and attributed his success to the innovative treatment approaches of Dr. Cameron and the UCLA Comprehensive Mesothelioma Program.

According to Pastor Van Kirk, "There are all kinds of miracles. Mine happened to be the kind that comes from great science, lucky timing, and the best mesothelioma doctors on the West Coast."

Much loved by his community and parishioners, Pastor Van Kirk served as senior pastor of the Rim of the World Community Church from 1985 until he retired in 2010. He and his wife Diane raised their three daughters in the mountain community of Running Springs. Pastor Van Kirk was interred with military honors at the Riverside National Cemetery. The service was unsurprisingly well-attended by Pastor Van Kirk’s family, friends and community, a testament to a man who lived his life and led his congregation by example and the positive influence he had on others. The words shared by those in attendance conveyed the profound love and respect for Pastor Van Kirk and the chasm he leaves behind in their hearts.


Shelby_GT
Riding with Pastor Chuck in his beautiful Shelby GT
I was blessed to have had the privilege of representing Pastor Van Kirk and getting to know what an extraordinary person he was. I will always remember his infectious laugh and thoughtful and generous nature. He proved to be a tremendous source of information and inspiration for countless newly-diagnosed patients who were struggling to cope with their illness
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A couple years ago, Pastor Van Kirk shared the following with me:

Yes, attitude is everything.  At times my hardest struggle is just to get up in the morning.  Deep, throbbing pain in my side demands attention.  So I pop some pain meds and lay back down pondering what heaven will be like when we receive new bodies that never break down, get sick, wrestle with illness or suffer! 

Pastor Chuck, while I share with so many others in the sadness of your loss, it brings a smile to my face to know that you will be enjoying an eternity of skiing, hiking, woodworking and hot-rodding in your Shelby convertible in your new body!

John Caron
June 11, 2012

Saturday, June 9, 2012

Yo Gabba Gabba on wheat with avocado, please.

Apparently, my core instincts are about the same as they were when I was about 5.

Some dear friends of mine are getting married this evening, so I knew that today was going to be a great day.  It is, however, now even greater because it started off like this.

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Only 288 calories!  (See my breakfast entry on myfitnesspal.com.)


And then, this.





Judge me all you like.  I love Yo Gabba Gabba.  No, I don't have kids.  No, I'm not babysitting.  I am a full grown woman who just so happens to thoroughly enjoy parties in her tummy (so yummy, so yummy) with vegetables, Mark Mothersbaugh teaching me how to draw silly things, and appearances from the likes of Andy Samberg, Flaming Lips, Devo, MGMT, The Faint, Weezer, Biz Markee, and so very many more.  This show is awesome, and you bet your bum my kids will be subjected to it when I have them someday.  And they will dance!

Speaking of dancing, I am sure I will doing quite a bit of that later after two of my dearest friends get married this evening!  I hope your Saturday is as lovely as mine has been thus far!


Friday, June 8, 2012

My creditor has placed a lien on my house. Will the lien be discharged in bankruptcy?

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When a debtor files for bankruptcy and receives a discharge, the Order Discharging Debtor will absolve the debtor of all dischargeable debts, and bar creditors from collecting those debts from the debtor in the future.

However, certain creditors can file a lien against property (usually real property) to ensure that their loan is paid. If your creditors have recorded liens against your property, the discharge order will not automatically discharge those liens. In certain cases, it is possible to avoid the lien (i.e., strip off the lien), but your bankruptcy attorney must file a motion to do so. Certain liens are not avoidable, such as liens given with your consent and tax liens) and will remain on the property. The most common example of an unavoidable lien is your typical mortgage.

Most people are familiar with the legal relationship between a borrower and a lender in the context of a mortgage – a bank lends money to someone wishing to purchase a home, and in exchange for the loan and the borrower’s promise to repay the debt, the lender places a lien against the property granting them certain rights, including the right to foreclose if the debtor does not honor the terms of the borrower’s obligation to repay. This arrangement protects the lender by giving them legal recourse against the collateral, so that they can recoup all or a portion of their loan if the borrower fails to pay.

A lien arising out of a mortgage is not avoidable because it is “voluntary”. Here, the borrower allowed the lender to place a lien on his or her property (or pledged some other collateral) in exchange for something of value, such as a loan. Voluntary liens are not avoidable in bankruptcy pursuant to the U.S. Bankruptcy Code. Although the borrower can never pursue the discharged debtor for any deficiency, in order to pass clear title to the property upon sale, the lien must either be paid by the new buyer or discharged (i.e., forgiven) by the lender.

In addition, liens placed against property by government institutions for taxes are not avoidable in bankruptcy.

In certain cases, however, a creditor may have obtained a lien against your property against your will. The most common is a judicial lien, in which a creditor has taken you to Court for an unpaid debt, obtained a judgment in their favor, and requested a sheriff to “execute” that judgment against your property. A copy of the judgment would be recorded in the registry of deeds in your county against your property. As before, even if the underlying debt is discharged in bankruptcy, the lien obtained by the creditor remains in place. The debt does not have to be repaid by virtue of the discharge, but the lien will continue to cloud the title to the property, making a future sale difficult or impossible if the lien is not paid at closing.

11 U.S.C. § 522(f) permits a debtor to remove liens based on a legal judgment of a nonpriority creditor – to the extent the lien encumbers the value of the debtor’s exemption(s) in the property. Put another way, if the value of the debtor’s equity in the property would be exempt even without the encumbering lien, a court, on motion of the debtor, may avoid the lien, effectively stripping it from the title history of the property.

The procedure for avoiding a judicial lien varies from state to state, and must be made by motion to the court. If any of your creditors have obtained a legal judgment against you, and recorded that judgment as a lien against your property, simply filing for bankruptcy isn’t enough. Ensure that your bankruptcy attorney is aware of the existence of the lien, and they will be able to advise you as to whether it can be avoided, and if so, file the appropriate motion with the Court.

Tuesday, June 5, 2012

Learning to Fly and Bankruptcy Exemptions


airplane


I would like to lean to fly. Not in a superman sense – in a “small aircraft” sense. As the first step in achieving that goal, this past weekend, I took a flying lesson and had a great time. When I was done, I was mulling over the legal ramifications of aircraft ownership, and as my legal mind started to wander, I pondered how the ownership of an aircraft would be handled in a bankruptcy. While this may not be where your mind would have wandered, consider it an occupational hazard of being a bankruptcy attorney. I don’t want you to get the wrong impression, but when you are a bankruptcy attorney, you sometimes can’t help but look at the world through a proverbial “bankruptcy filter”.

Since not everyone wants, or owns, an airplane, writing an answer to “how would a small aircraft be treated in bankruptcy” might seem somewhat superfluous. In fact, the rest of the people in my office would no sooner get into a small plane as they would shave their head. But what occurred to me is that nearly everyone has their “learning to fly.”

In good financial times, most of us purchase “toys” or other items that support our hobbies, but what happens when the same folks may be facing bankruptcy? If selling the toys and paying the debt is not an option, how are these items treated in bankruptcy? The “toys” could be anything: aircraft, boats, motorcycles, or classic cars. Maybe motors aren’t your thing, but you have a nice collection of high-end computers and electronics. If you spend your Sundays working in a wood shop, woodworking equipment or other tools might be your “toys”.

How are these hobby items treated in bankruptcy?

Like any other asset, the item you seek to protect must be disclosed to the bankruptcy court (along with all other assets) and are subject to acquisition by the trustee if they are not exempt under the Federal or Massachusetts exemptions. There are a number of exemptions that may be used to establish the exemptability of items. Ultimately, the amount of the allowable exemptions may be affected by the debtor’s desire to exempt other personal property, but generally speaking, the following exemptions are available to protect a debtor’s items which do not fall into a specific exemption category (such as jewelry, certain religious articles or motor vehicles, which are discussed later on):

Federal Exemptions:

11 U.S.C. § 522(d)(5): $1,150.00, which is federal catch-all exemption and may be applied to any personal property owned by the debtor;

11 U.S.C. § 522(d)(5): Up to $10,825.00 of unused home equity not already exempted under 11 U.S.C. § 522(d)(1);

11 U.S.C. § 522(d)(6): $2,175.00 for tools and equipment used in business. For this exemption to be applicable to the debtor, the debtor must establish that the items are necessary for the debtor’s trade, employment or business.

Massachusetts Exemptions

A debtor filing for bankruptcy in Massachusetts may elect either the Federal exemptions or the Massachusetts exemptions. Massachusetts exemptions applicable to firearms ownership are as follows:

M.G.L. c. 235 § 34(5): $5,000.00 for tools and equipment used in business. Like the federal exemptions, for this exemption to be applicable to the debtor, the debtor must establish that the items are necessary for the debtor’s trade, employment or business. Therefore, if the items are used in the debtor’s business or money-making efforts, they may be exempt up to $5,000.00, regardless of their less intrinsic value as hobby items to the debtor.

M.G.L. c. 235 § 34(17): Up to $6,000.00, representing the debtor’s aggregate interest in any personal property, not to exceed $1,000 in value, plus up to $5,000 of any unused dollar amount of the aggregate exemptions provided for the exemption of household furnishings, tools of the trade and a motor vehicle.

Special Considerations for Motor Vehicles

In Massachusetts, you can exempt up to $7,500 in equity in one car or other vehicle that you use for personal transportation or to find or maintain employment. If you are 60 years of age or older, or if you are disabled, you can exempt up to $15,000. If you decide to use the federal bankruptcy exemptions, you can exempt up to $3,450 of equity in your motor vehicle. The law does not care if your one primary vehicle is a 2005 Honda Civic, a 2012 Harley-Davidson Dyna Super Glide or a 1969 Yenko Camaro; only the amount of the debtor’s equity in the vehicle matters.

If the item you seek to protect is a registered motor vehicle, but not your primary mode of transportation, some trustees will disallow an exemption claimed under either the federal or Massachusetts “motor vehicle” exemptions. Additionally, although the Massachusetts exemption laws specifically state “automobile”, many trustees will not object to the debtor’s attempt to discharge a motorcycle if it is your primary mode of transpiration.

So, what does this all mean?

It means that the answer to the original question is “it depends”. The ability to exempt hobby items largely turns on the value of the item, and the other expemptions already claimed by the debtor for such necessities as their home, household goods and furnishings, or employment-related tools. In a “perfect storm” of circumstances, you may be able to exempt upwards of $20,000 of equity in your “toys”, but the real value depends on the totality of circumstances in your bankruptcy case.

If you are facing bankruptcy and have personal and other property, such as a home and retirement accounts that you want to ensure is protected through the bankruptcy process, contact Attorney Matthew P. Trask to learn more about how to protect your assets and find your financial freedom.

Monday, June 4, 2012

UCLA Mesothelioma Care Employs Lung-sparing Surgery and Unique Treatment Approach

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UCLA’s Mesothelioma treatment program focuses on research and experience and has pioneered the use of therapies, such as immunotherapy and cryoablation which have led to significant advances in care. At UCLA, basic science and clinical research have suggested some unique approaches that are helping to make inroads in the management of mesothelioma.

“UCLA has developed a program to treat these unusual tumors — including the very rare sarcomatoid type — that centers on lung-sparing surgery and treating the disease as a chronic illness, focusing on treatments that improve our patients’ quality of life,” explains Robert B. Cameron, M.D., FACS, professor and director of UCLA’s Comprehensive Mesothelioma Program.

About 15 percent of mesothelioma cases are of the sarcomatoid type, which tends to be both invasive and metastatic. As a rule, surgeons will not operate on these patients as the cancer is difficult to remove and the  patients have not typically fared well with any treatments.  Click here to learn more.