May 2011

In this issue:

• What's New in Best Case Bankruptcy
• Manage your caseload with custom client reports
• Restore an accidentally deleted client file
• Online Tools
• Did You Know?
• Bankruptcy Chat

View the Spotlight e-newsletter

Feature Spotlight: Manage your caseload with custom client reports

Get an overview of your Best Case workload with the built-in Client List reporting feature. Detailed reports are quick and easy to create from the Client List window and include information on chapter type, case number, filing date, 341 discharge date, case status and more.

To view or print a report, click the Report button in the upper right corner of the Client List window, then click on the report you want.

Choose from the following Client List reports:

• Current View Filter — Displays all debtors in your current filtered Client List window .
• Client List with Range Filtering — Displays client files based on a range of criteria including Debtor Type, Chapter, Case Number, Needs Attention, Jurisdiction, Case Status.
• Client List View and Range Filtering — Displays all debtors in your current filtered Client List window and specific filtered criteria.
• Print Client Summary — Displays a yearly summary of cases by Total Cases, Active, Closed, Preparing to File, Ready to File, Filed/Pre 341, Post 341, Pre Confirmation, In Plan, Discharged, Dismissed, Inactive, Chapter 7, 9, 11, 12, 13 and 15, Individual, Joint, Partnership, Corporation, or Other type.
• Export Clist List to .CSV — Prepares a file with all clients or specific clients based on your filtered criteria.

Insights: Restore an accidentally deleted client file

If a client file was deleted from Best Case, all is not lost. There's a quick way to restore the file.

To restore a deleted client file:

1. Open the Client List window.
2. Hold down Ctrl + Shift + U.
3. From the Undelete window that appears, select the desired file and click the Restore button.
   
   
4. A confirmation window appears stating the file was restored.
   

Shortcuts: Use online tools for median income and calendar date calculations

Online calculators are always available. There are four calculators to choose from and are easily accessed online or from your Best Case software (Tools > Online Tools).

• Use the Median Income Calculator to see if the debtor is above or below the median income level for his state and household size.
• With the Best Case Date Calculator, you can determine a past or future date by entering a starting date and adding or subtracting months, days and years to it. Calculations can be made in standard days or business days.
• The Best Case Holiday Calculator lets you enter any four digit year, and the calculator returns a list of the observance dates of all Federal Holidays for that year.
• Enter any two dates and the Best Case Days Between Dates Calculator tool will determine how many days there are between them.

Did You Know?: You can easily access Custom Chapter 13 Plan instructions from the help file

If you need help with your specific jurisdiction's Custom Chapter 13 Plan, start with the Best Case Bankruptcy help file.

1. Click the Help button in the main menu bar.
   
   
2. Select the Local 13 Plans button in the window menu bar.
   
   
3. Choose your plan from the comprehensive list of jurisdictions.
   
   
4. Follow the download instructions to save a PDF of the plan instructions to your desktop.
   
   

Bankruptcy Chat: The impact of Schwab v. Reilly by George Basharis, J.D.

A recent Best Case Bankruptcy feature addresses the impact of the Supreme Court’s decision in Schwab v. Reilly, 130 S. Ct. 2652 (2010), on Official Form 6, Schedule C (Property Claimed as Exempt). This feature provides an option for the debtor to state an intent to exempt the full fair market value of an asset, regardless of the dollar amount of that value. By doing so, the debtor would notify the trustee of the need to object to the exemption within the period established by Rule 4003(b) in order to preserve for the estate any value in the property that exceeds a statutory limit.

The debtor in Schwab claimed an exemption in business equipment in the same amount as the value specified for the property in Schedule B. The bankruptcy trustee did not object to the debtor’s claimed exemption within the period allowed by Rule 4003(b). However, after the deadline passed, the trustee moved to sell the equipment, pay the debtor the amount of the exemption she specified in Schedule C, and distribute the remaining proceeds to her creditors.

In a 6-3 decision written by Justice Thomas, the Court ruled that despite the trustee’s failure to object to the debtor’s claim of exemption for the equipment, the trustee could still sell the property when it became clear that the equipment was worth more than the applicable exemption limit.

According to the Court, the trustee was not required to object to a claim of exemption simply to preserve the estate’s right to capture value above the debtor’s exempt interest. The exemption claimed by the debtor was valid and the amount was within statutory limits.

In its opinion, the Court explained that a debtor who intends to exempt “the full market value of the asset or the asset itself” may put the trustee on notice by listing the exempt value of the asset on Schedule C as “full fair market value (FMV)” or “100% of FMV.” Best Case now allows users to override the exemption amount printed in Schedule C with the language suggested by the Court in Schwab.

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Thank you for all your positive feedback. Keep it coming, it's important to know what topics you want to see in Spotlight. You, the Best Case user, drive the content of this newsletter. Email us at spotlight@bestcase.com to give us your best practices, topic suggestions and feedback.