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Any suggestions on abandonment of property
I think I can find evidence that others that were terminated were
offered the same package, and that the global release is in all the
severance packages. There are probably confidentiality clauses that
prohibit that though. I really think it has nothing to do with the
prepetition claim because it wasn't even filed yet before we filed
bankruptcy. Thanks, Jason. Steve
The post was migrated from Yahoo.
charsetndows-1252
I don't see Trustee abandoning it because employer is asking for a release of prepetition claims and that suggests it has some value. But the stronger case you can make for apportioning more to the post petition termination, and less to the prepetition claim, the better your bargain is going to be.Jason Wallach
jwallach@gladstonemichel.com
On Jan 9, 2012, at 5:40 PM, Steven B. Lever wrote:
>
> Jason:
>
>
>
> Thats a good point that Ill bring up to the Trustees attorney. I did claim 75% of it as exempt under 703.140(b)(11)(e), but since they continue the hearings out ad infinitum the 30 days never runs on the statute so I cannot say the exemption is solid yet.
>
>
>
> I certainly will argue that whatever its worth, the estate only has 25% of it to the Trustees attorney. To prevail on an abandonment though I still have argue that its 25% of nothing, because so long as there is $1 there for the estate the judge will defer to the Trustees business judgment rule.
>
>
>
> Steve
>
>
>
Jason Wallach
> Sent: Monday, January 09, 2012 2:32 PM
> To: cdcbaa@yahoogroups.com
> Subject: Re: [cdcbaa] Any suggestions on abandonment of property
>
>
>
>
>
> Can you fit the recovery into 703.140(b)(11)(e)? If you could, the trustee should be grateful for a small piece, maybe a month's worth...
>
> & nbsp;
>
> CONFIDENTIAL COMMUNICATION
>
> ATTORNEY-CLIENT PRIVILEGE
>
>
>
> --
>
> JASON WALLACH, ESQ.
>
> Gladstone Michel Weisberg Willner & Sloane, ALC
>
> 4551 Glencoe Avenue, Suite 300
>
> Marina del Rey CA 90292-7925
>
> Tel: (310) 821-9000
>
> Direct: (310) 775-8725
>
> Fax: (310) 775-8775
>
> Email: jwallach@gladstonemichel.com
>
> www. gladstonemichel.com
>
>
>
> NOTE: The information contained in this email may contain attorney-client
>
> privileged and confidential information intended only for the use of the
>
> individual or entity named above. If the reader of this message is not
>
> the intended recipient, or the employee or agent responsible to deliver
>
> it to the intended recipient, you are hereby notified that any
>
> dissemination, distribution or copying of this communication is strictly
>
> prohibited. If you have received this communication in error, please
>
> notify us immediately by email and delete the original message.
>
>
>
> On Jan 9, 2012, at 1:41 PM, Dennis McGoldrick wrote:
>
>
>
>
>
>
>
>
> Steve:
>
>
>
> If you have this attorney write the letter, will the company still pay the severence?
>
> Who owns the severnce? Doesn't it belong to the trustee?
>
>
>
> dennis
>
>
>
> To: cdcbaa@yahoogroups.com
> Sent: Monday, January 9, 2012 1:13 PM
> Subject: [cdcbaa] Any suggestions on abandonment of property
>
>
>
> I have a client who has been in a trustees purgatory due to an asset that is a cause of action against a major utility employer for prepetition discrimination. The Trustee held onto the action while my clients state court attorney considered whether to take the case or not.
>
>
>
> The state court attorney did not take the prepetition case deeming the case not viable for him, and now the Trustee is trying to shop around for another attorney. The state law attorney rejected the case about 4 months ago.
>
>
>
> In the meantime, the big utility terminated my client and gave him 56 weeks severance per an agreement he signed, which includes a global release. He really needed the money to survive and signed the deal against my advice.
>
>
>
> The Trustees attorney called the utility and queered the deal because she has that prepetition claim, and they stopped payment on the check, but they are still willing to do the deal.
>
>
>
> I am considering doing a deal with the Trustee, but failing that, which I presume I may fail, my question is this:
>
>
>
> If I get a really good declaration from the state law attorney saying the case is a stinker, do you think I can prevail on a motion to abandon? Judge Neiter would preside.
>
>
>
> Thank you
>
>
>
> Steve
>
>
>
> Law Offices of Steven B. Lever
>
> >
>
> > Steven B. Lever
>
> >( Tel. (562) 436-5456 ext. 6470
>
> >( Fax (800) 360 -5161
>
> >* sblever@leverlaw.com
>
>
>
>
>
>
>
>
>
>
> No virus found in this message.
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charsetndows-1252
I don't see Trustee abandoning it because employer is asking for a release of prepetition claims and that suggests it has some value. But the stronger case you can make for apportioning more to the post petition termination, and less to the prepetition claim, the better your bargain is going to be.
Jason Wallach
The post was migrated from Yahoo.
Jason:
That's a good point that I'll bring up to the Trustee's attorney. I did
claim 75% of it as exempt under 703.140(b)(11)(e), but since they
continue the hearings out ad infinitum the 30 days never runs on the
statute so I cannot say the exemption is solid yet.
I certainly will argue that whatever it's worth, the estate only has 25%
of it to the Trustee's attorney. To prevail on an abandonment though I
still have argue that it's 25% of nothing, because so long as there is
$1 there for the estate the judge will defer to the Trustee's business
judgment rule.
Steve
The post was migrated from Yahoo.
charsetndows-1252
Can you fit the recovery into 703.140(b)(11)(e)? If you could, the trustee should be grateful for a small piece, maybe a month's worth...
CONFIDENTIAL COMMUNICATION
ATTORNEY-CLIENT PRIVILEGE
JASON WALLACH, ESQ.
Gladstone Michel Weisberg Willner & Sloane, ALC
4551 Glencoe Avenue, Suite 300
Marina del Rey CA 90292-7925
Tel: (310) 821-9000
Direct: (310) 775-8725
Fax: (310) 775-8775
Email: jwallach@gladstonemichel.com
www. gladstonemichel.com
NOTE: The information contained in this email may contain attorney-client
privileged and confidential information intended only for the use of the
individual or entity named above. If the reader of this message is not
the intended recipient, or the employee or agent responsible to deliver
it to the intended recipient, you are hereby notified that any
dissemination, distribution or copying of this communication is strictly
prohibited. If you have received this communication in error, please
notify us immediately by email and delete the original message.
On Jan 9, 2012, at 1:41 PM, Dennis McGoldrick wrote:
>
> Steve:
>
> If you have this attorney write the letter, will the company still pay the severence?
> Who owns the severnce? Doesn't it belong to the trustee?
>
> dennis
>
> To: cdcbaa@yahoogroups.com
> Sent: Monday, January 9, 2012 1:13 PM
> Subject: [cdcbaa] Any suggestions on abandonment of property
>
>
> I have a client who has been in a trustees purgatory due to an asset that is a cause of action against a major utility employer for prepetition discrimination. The Trustee held onto the action while my clients state court attorney considered whether to take the case or not.
>
> The state court attorney did not take the prepetition case deeming the case not viable for him, and now the Trustee is trying to shop around for another attorney. The state law attorney rejected the case about 4 months ago.
>
> In the meantime, the big utility terminated my client and gave him 56 weeks severance per an agreement he signed, which includes a global release. He really needed the money to survive and signed the deal against my advice.
>
> The Trustees attorney called the utility and queered the deal because she has that prepetition claim, and they stopped payment on the check, but they are still willing to do the deal.
>
> I am considering doing a deal with the Trustee, but failing that, which I presume I may fail, my question is this:
>
> If I get a really good declaration from the state law attorney saying the case is a stinker, do you think I can prevail on a motion to abandon? Judge Neiter would preside.
>
> Thank you
>
> Steve
>
> Law Offices of Steven B. Lever
> >
> > Steven B. Lever
> >( Tel. (562) 436-5456 ext. 6470
> >( Fax (800) 360-5161
> >* sblever@leverlaw.com
>
>
>
>
>
charsetndows-1252
Can you fit the recovery into 703.140(b)(11)(e)? If you could, the trustee should be grateful for a small piece, maybe a month's worth...
CONFIDENTIAL COMMUNICATIONATTORNEY-CLIENT PRIVILEGE-- JASON WALLACH, ESQ.Gladstone Michel Weisberg Willner & Sloane, ALC4551 Glencoe Avenue, Suite 300Marina del Rey CA 90292-7925Tel: (310) 821-9000Direct: (310) 775-8725Fax: (310) 775-8775Email: jwallach@gladstonemichel.comwww. gladstonemichel.comNOTE: The information contained in this email may contain attorney-clientprivileged and confidential information intended only for the use of theindividual or entity named above. If the reader of this message is notthe intended recipient, or the employee or agent responsible to deliverit to the intended recipient, you are hereby notified that anydissemination, distribution or copying of this communication is strictlyprohibited. If you have received this communication in error, pleasenotify us immediately by email and delete the original message.
On Jan 9, 2012, at 1:41 PM, Dennis McGoldrick wrote:
The post was migrated from Yahoo.
Steve:
If you have this attorney write the letter, will the company still pay the severence?
Who owns the severnce? Doesn't it belong to the trustee?
dennis
________________________________
To: cdcbaa@yahoogroups.com
Sent: Monday, January 9, 2012 1:13 PM
Subject: [cdcbaa] Any suggestions on abandonment of property
I have a client who has been in a trustees purgatory due to an asset that is a cause of action against a major utility employer for prepetition discrimination. The Trustee held onto the action while my clientThe state court attorney did not take the prepetition case deeming the case not viable for him, and now the Trustee is trying to shop around for another attorney. The state law attorney rejected the case about 4 months ago.
In the meantime, the big utility terminated my client and gave him 56 weeksease. He really needed the money to survive and signed the deal against my advice.
The Trustees attorney called the utility and queered the deal because she has that prepetition claim, and they stopped payment on the check, but they are still willing to do the deal.
I am considering doing a deal with the Trustee, but failing that, which I presume I may fail, my question is this:
If I get a really good declaration from the state law attorney saying the case is a stinker, do you think I can prevail on a motion to abandon? Judge Neiter would preside.
Thank you
Steve
Law Offices of Steven B. Lever
>
> Steven B. Lever
>( Tel. (562) 436-5456 ext. 6470
>( Fax (800) 360-5161
>* sblever@leverlaw.com
The post was migrated from Yahoo.
I have a client who has been in a trustee's purgatory due to an asset
that is a cause of action against a major utility employer for
prepetition discrimination. The Trustee held onto the action while my
client's state court attorney considered whether to take the case or
not.
The state court attorney did not take the prepetition case deeming the
case not viable for him, and now the Trustee is trying to shop around
for another attorney. The state law attorney rejected the case about 4
months ago.
In the meantime, the big utility terminated my client and gave him 56
weeks' severance per an agreement he signed, which includes a global
release. He really needed the money to survive and signed the deal
against my advice.
The Trustee's attorney called the utility and queered the deal because
she has that prepetition claim, and they stopped payment on the check,
but they are still willing to do the deal.
I am considering doing a deal with the Trustee, but failing that, which
I presume I may fail, my question is this:
If I get a really good declaration from the state law attorney saying
the case is a stinker, do you think I can prevail on a motion to
abandon? Judge Neiter would preside.
Thank you
Steve
Law Offices of Steven B. Lever
>
> Steven B. Lever
>( Tel. (562) 436-5456 ext. 6470
>( Fax (800) 360-5161
>* sblever@leverlaw.com
The post was migrated from Yahoo.