This comprehensive program will bring you up to speed on the major changes and the fundamentally new procedures in consumer as well as commercial bankruptcy cases, whether you are a bankruptcy lawyer specialist or become involved in the field every now and then and need to have some knowledge of the new law.

A major goal of the legislation is to limit the number of individual debtors who receive a complete discharge of their debts in order to compel repayment of a portion of their debts. With these presentations, you will learn: 1) the “real world” effect of the new legislation and how a “typical” consumer debtor case will be approached by the involved professional and 2) the added complexity and built-in added expense that will be faced by the consumer debtor and the involved lawyers and trustees, and by the bankruptcy clerks and judges as well.

In the first part of the course, fundamental changes discussed by the expert faculty include:

• A new “means” test establishing a very broad standard for abuse that will determine whether debtors are eligible for discharge under Chapter 7 or must repay part of their debt under Chapter 13. The requirement that lawyers must certify the accuracy of information their debtor/clients provide in their petitions and schedules and under the means test, and the possible negative effect for the involved attorney if that information results in the dismissal of the Chapter 7 petition or its conversion to a Chapter 13. • The wider range of financial information the debtor must file and the greater ease with which creditors can acquire these details. • The role and responsibility of “debt relief agencies” and credit counseling programs. • How much discretion is left to bankruptcy court judges and personnel in fashioning a fair result for both debtor and creditor.

Another major goal of the new legislation was to alleviate certain creditors from “judicial legislative” decisions that Congress apparently wanted eliminated. Major anticipated effects of these parts of the new Act, explored and analyzed with you by the experienced panelists, will be: 

• The benefit to be provided to landlords, trade creditors, wage claimants and others and the limiting of defenses previously given to debtors and debtors-in-possession. • The curbing of the debtor’s ability to stretch out the case with strict Plan confirmation process deadlines with no court discretion. • How real and personal property lessors obtain added advantages. • How preferential transfers below $5,000 cannot be pursued and preference forums are now limited. • The scrutiny to be given to Professional (lawyers, investment bankers, and key executives) payments. • The new “Small Business” reorganization section, the expansion of fraudulent transfer recovery laws, and so much more, jam-packed into one recording.

Detailed written materials, including a “black line” mini-Code book showing how the Reform Act has changed Title 11 (Bankruptcy Code), are included with this package.

Program Contents

· Requirements of Chapter 7 or Chapter 13

· Discharge and Dischargeability

· New Role for the Lawyer and Others

· Chapter 11 for Small Business

· Real Estate

· Avoiding Powers

· Miscellaneous Amendments

Program Speakers

Mark S. Tulis, Esq. (Chair)
Oxman Tulis Kirkpatrick Whyatt & Geiger LLP
--White Plains

Arlene Gordon Oliver, Esq.
Rattet, Pasternak & Gordon Oliver, LLP
--Harrison

Douglas J. Pick, Esq.
Attorney at Law
--New York City

Robert L. Rattet, Esq.
Rattet, Pasternak & Gordon Oliver, LLP
--Harrison

LawrenceR. Reich, Esq.
Reich Reich & Reich P.C.
--White Plains

Jeffrey L. Sapir, Esq.
Attorney at Law
--White Plains

David L. Tillem, Esq.
Wilson, Elser, Moskowitz, Edelman & Dicker LLP
--White Plains

Total MCLE Credits...... 8.5

Ethics MCLE Credits..... 1.0

* Each additional person who uses the tapes for MCLE credit must purchase a copy of the “MCLE coursebook.”