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School of Law
1045 W. Maple St.
Robert A. Leflar Law Center
Waterman Hall
University of Arkansas
Fayetteville, AR 72701

Phone: (479) 575-5601

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University of Arkansas School of Law

Arkansas Law Notes

Debtor/Creditor

Chapter 12 Bankruptcy: Family Farm Restructuring

This overview of Chapter 12 Bankruptcy is written to provide an introduction to the basic Chapter 12 process, highlighting some of the issues that distinguish it from other types of bankruptcy and explaining how it may be useful to family […]

Defalcation by a Fiduciary – A New Standard

I am writing about a bankruptcy case from the Supreme Court. This changes cases from the Eighth Circuit and this is why I am discussing it. The case is Bullock v. BankChampaign.[1]. The issue concerns whether a debt is dischargeable when the debtor obtains a bankruptcy discharge. The phrase in the Bankruptcy Code is “defalcation by a fiduciary”. If the fiduciary has done this, the debt is not discharged. This issue does not come up frequently, but when it comes up, this is an important change.

The Credit CARD Act of 2009 – Four Years Later

The Credit Card Accountability Responsibility and Disclosure Act of 2009 (the “Credit CARD Act”), was signed into law by President Obama on May 22, 2009. As described by the Senate Report, its purpose was “to implement needed reforms and help […]

The Supreme Court and Capital Gains Taxes in Bankruptcy and Credit Bidding in Cramdown Auctions

Two cases are mentioned here that came down in May 2012 from the Supreme Court. The first case, Hall, is important if you have a client with appreciated property who is in financial stress.[1] The second case, Radlax Gateway Hotel, is relevant if your client is a secured creditor who wishes to credit bid in a bankruptcy auction organized by the debtor.[2] Since you might represent the debtor or the creditor in bankruptcy both cases might be of interest. Hall is more likely to come into your life, perhaps. It will be discussed first.

The Impact of the 2012 National Mortgage Settlement’s Servicing Standards

In February 2012, after a lengthy investigation, the attorneys general of forty-nine states (all but Oklahoma), the District of Columbia and the federal government reached an agreement with five large banks and mortgage servicers to address widespread problems in the […]

From School Of Law (SOL) To Plain Old SOL: How The Bar Exam, Jobs Market, Bankruptcy Code And A Cup Of Coffee Made It Difficult For One Law Graduate Seeking To Find A Way Out Of Debt

Lord, have mercy on the poor man!1 “How many roads must a man walk down before they will call him a man?”2 Michael Hedlund spent more than a decade trying to eliminate student loan obligations he struggled unsuccessfully to repay.In […]

Counterfeit Checks — What Rules Should Cover These?

Let’s start with the facts of a Seventh Circuit case, Wachovia Bank, N.A. v. Foster Bancshares, Inc. Last year I wrote to say we in Arkansas should not follow an Ohio case. Here I argue that we should not follow the reasoning of a Seventh Circuit case. Even worse, part of its reasoning is used in an earlier Texas case. I would think that Arkansas courts would follow cases from the Seventh Circuit and the Texas Court of Appeals. I hope they do not. What follows are some arguments you can use to try and convince a court not to follow either of these cases. I guess I have a bit of chutzpah!

Money, Money, Money: Banks, Customers, and the Writing of Checks — a Practitioner’s Primer

If money makes the world go round, and checks are a simple and commonly used means of passing money from one party to another, it follows that checks also make the world go round. And yet many Arkansas lawyers have […]

Fair Debt Collection Practices Act, the Bona Fide Error Defense and Legal Judgment Errors

I could not let Law Notes get published without mentioning another Supreme Court case. This case,  Jerman v. Carlisle, McNellie, Rini, Kramer & Ulrich LPA et al., examined the bone fide error defense in the Fair Debt Collection Practices Act (hereinafter FDCPA). Carlisle came down April […]

Courts Beware: Do Not Follow This Ohio Case

A case came down from the Ohio Supreme Court several years ago. I have not had time before now to discuss its possible impact on the law of Arkansas. Those of you who represent secured creditors and those who represent the state and its departments […]

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