Fact Sheet

& Staff





AUGUST 11-12, 1997
Federal Judicial Center/Education Center Auditorium
Thurgood Marshall Federal Judiciary Building
One Columbus Circle, N.E.
Washington, D.C.

Revised Draft August 7, 1997 - Subject To Change

Monday, August 11, 1997

8:30am - 9:00am

Opening Remarks and Administrative Matters
Administrative matters

Congressional legislation: Single asset real estate cases and H.R. 764 - "Bankruptcy Amendments of 1997"

Approval of May meeting minutes

Discussion: Associated Commercial Corp. v. Rash - Valuation Method and Timing Schlossberg v. Maryland/Seminole [materials distributed July 31, 1997]

9:00am - 10:45am

Plenary Session: Tax Issues
[Final report distributed July 10, 1997]

Track No. 441
Conformity of Chapter 13 plans with Bankruptcy Code: requirement to file returns

Track No. 513(a)
Income tax return prepared by taxing authority should not be considered a filed tax return for purposes of the Bankruptcy Code

Track No. 700
Amend 11 U.S.C. §§ 1307 & 1112 to give bankruptcy courts discretion to dismiss cases with prejudice to refiling for a period of time as fixed by the court

Track No. 4121
Date of discharge should be fixed for purposes of tax attribute reduction

Track No. 714
Amend IRC § 1398(e)(3) to provide that a debtor should be treated as an employee of the bankruptcy estate as to payments by the estate of estate assets to the debtor for services performed

Track Nos. 411 & 436(a)
Authorize one-time exclusion of $125,000 of capital gain on sale of residence of an individual debtor by the trustee; tax treatment of sale by the estate of a debtor 's homestead

Track No. 4312(a)
IRC §§ 108 and 382 should be amended with respect to the issuance of stock for debt

Track No. 713
IRC § 1001 should be amended to provide for parallel tax treatment of recourse and nonrecourse debt

Track No. 425
Clarify tax treatment of property of the estate that is abandoned to the debtor

Track No. 602
Clarify meaning of the term ³willful² under 11 U.S.C. § 523(a)(1)(C)

Track No. 438(a)
Amend 11 U.S.C. § 505(b) to add ³estate²

Track No. 432
Bifurcated treatment of a corporate tax year that straddles the petition date

Track No. 513(b)
Substitute for return as a filed return for purposes of dischargeability

Track No. 212
Specify debtor 's obligation to file prepetition and postpetition returns and to pay postpetition taxes; consequences for failure to comply

Track No. 213
Applicability of the Chapter 13 superdischarge to tax claims

Track No. 214
Requirement of periodic payment for deferred payments of taxes under 11 U.S.C. § 1129(a)(9)(C) and designation of applicable interest rate

Track No. 321
Allocation of Chapter 11 plan payments to trust fund taxes and collection remedies available to taxing authorities; Energy Resources

Track No. 312
Effect of subsequent filing or default on the status or nature of a tax claim provided for under a Chapter 11 plan

Track No. 433
Authority of bankruptcy court to enter declaratory judgments on prospective tax issues presented by Chapter 11 plans of reorganization

Track No. 703
Payment of prepetition nonpecuniary loss tax penalties in Chapter 11, 12 and 13 cases should be subordinated to payment of general unsecured claims.

10:45am - 11:00am


11:00am - 12:00pm

Plenary Session: Data Collection and Dissemination - Presentation by Commissioner John Gose and Senior Advisor\Data Project Professor Lynn LoPucki
Chapter 11 Working Group Proposal No. 3
Data Collection
[to be distributed]

12:00pm - 1:00pm

Lunch Break

1:00pm - 2:30pm

Plenary Session: Transnational Insolvency - Panel Presentation and Commission Deliberation
Transnational Working Group Proposal No. 2
Conforming UNCITRAL Changes
[materials distributed June 19 and 30, 1997]
[additional materials distributed July 31, 1997]

2:30pm - 3:30pm

Plenary Session\Voting
Service to the Estate & Ethics Working Group Proposal No. 7
Personal liability standard for bankruptcy trustees
[distributed August 6, 1997]

Consumer Bankruptcy Working Group Proposal No. 6
Continued evaluation of bankruptcy fee waiver program
[distributed July 31, 1997]

4:45pm - 5:30pm

Open Forum




Tuesday, August 12, 1997

8:30am - 9:15am

Presentation on Consumer Education: Commissioner Babette Ceccotti and Professor Karen Gross
[Report distributed July 10, 1997]

9:15am - 10:45am

Plenary Session\Voting
Reconsideration of Chapter 11 Working Group Proposal No. 2
Claims classification
[distributed September 4, 1996]

Chapter 11 Working Group Proposal No. 10
Prepackaged plans of reorganization: prepetition solicitation
[distributed July 22, 1997]

Government Working Group Proposal No. 4
Improving notice to government creditors
[to be distributed]

Government Proposal No. 24
Treatment of collective bargaining agreements in Chapter 9
[distributed August 5, 1997] [discussion only]

Service to the Estate and Ethics Working Group Proposal No. 9
United States Trustee Program
[distributed July 31, 1997]

Service to the Estate and Ethics Working Group Proposal No. 10
Bankruptcy Administrator Program and the United States Trustee Program
[distributed August 6,1997]

10:45am - 11:00am


11:00am - 12:30pm

Plenary Session\Voting
Consumer Bankruptcy Proposals No. 3 - 5
Dischargeability & Discharge Proposals
[distributed June 5 and July 22, 1997]

Consumer Bankruptcy Proposal No. 7
Dischargeability of Credit Card Debt
[distributed August 6, 1997]

Chapter 11 Proposal No. 16
Elimination of mandatory appointment of examiners
[distributed July 29, 1997]

Chapter 11 Proposal No. 17
Use of professionals and investigative tools by examiners
[distributed July 29, 1997]

Chapter 11 Proposal No. 18
Authorization for local mediation programs
[distributed July 29, 1997]

Chapter 11 Working Group Proposal No. 13
[distributed July 29, 1997]

12:30pm - 1:30pm

Lunch Break

1:30pm - 3:30pm

Continued Plenary Session\Voting
Consumer Bankruptcy Proposal: reaffirmation agreements, junior mortgages\liens & refiling
[distributed August 1, 1997]
[additional materials distributed August 7, 1997]

Consumer Bankruptcy Proposal No. 8
Amendment of Section 548 to except certain transfers made to charitable or religious organizations
[distributed June 16, 1997 and August 6, 1997]

Reconsideration of Chapter 11 Working Group Proposal No. 9
Prebankruptcy waivers
[distributed June 12, 1997]

3:30pm - 3:45pm


3:45pm - 5:00pm

Open Forum


Conclusion of Meeting