DIY Bankruptcy Means Test — You Always Pass!

Do It Yourself projects can be terrifying — and satisfying too. Sprucing up your home on your own, repairing the car, even doing your own tax returns can be challenging but helps save you money and makes you more independent.

You have the option to do that in bankruptcy. You can go it alone. But most don’t — they just want to be informed consumers so they know what their options are before they see a lawyer. Buyer beware, right?

The “means test” is one of those things folks like to try before they see a lawyer. There are on-line services for this. And you know what all my prospective clients tell me — They always pass the means test!

The means test is designed to identify folks who can afford to pay a “meaningful” amount back to creditors in Chapter 13 instead of more immediate fresh starts in Chapter 7. It doesn’t really do that but that’s the idea.

But why does everyone seem to pass when they take it on their own? Because almost no one knows how to fill out the form! Even if you’re trying hard to do it right, many lawyers have trouble with it. How do you go wrong? Let me count the ways.

Income. You don’t earn what you think you earn. According to the test, you make the average of what you made during the last six months. When you earned it and when you were paid can affect this too. And it could count money spent for you but you didn’t even get.

Not Income. There are some kinds of income you count but others you don’t count. And there is some money that may or may not “count” depending on where you live.

Car Payments. You don’t pay what you think you pay for your car. The test recalculates it.

Car Expenses. You don’t spend what you think you spend on gas or maintenance. You get a different amount, good or bad.

Taxes. This is not what comes out of your paycheck. It’s what you should be paying, in the future. Even if you’re not sure what your tax return looks like next year.

Household Size. How many people are in your household? You’d think that would be the people you take care of and pay for. You might be right or you might be wrong. It likely depends on where you live.

Involuntary Deductions. You have to pay back the 401(k) loan, right? So it’s an “involuntary” deduction from your pay. Probably not.

And so on.

Those are only 7 common issues — 7 lines — from a form that is 7 pages long with 60 separate lines of calculations. Try as hard as you like, unless you do this often and keep up with the decisions of judges in your area and higher courts, you really will be guessing at most of the answers you should put into the form. Because you have to guess what the law is on the subject before you can answer the “simple” questions.

DIY Mean Tests teach my favorite (and most depressing) lesson about the law: “If you guess what the law says, and it works out in your favor — you’re wrong!”


Bankruptcy Law Network, LLC, 6502 S. 6th Street, Klamath Falls, OR 97603, USA




Divulgado por:

Rolando Emmanuelli Jiménez, J.D. LL.M.
rolando@bufete-emmanuelli.com

http://www.bufete-emmanuelli.com
http://www.bufeteamadopereira.com
http://www.remmanuelli.com

-- Desde Mi iPad

Más de la mitad de los niños puertorriqueños viven en la pobreza

Por Luisa García Pelatti
De Sin Comillas
WWW.sincomillas.com

El 57.4% de los niños y el 39% de las personas mayores de 65 años de edad vive bajo los niveles de la pobreza. En el 2011, 1,659,792 personas vivían bajo los niveles de pobreza. Lo peor es que los niveles de pobreza en Puerto Rico no han disminuido significativamente en los pasados 20 años.

Son datos del estudio “La pobreza en Puerto Rico: estadísticas, políticas públicas e impacto en la vida de los ciudadanos, una mirada desde la Doctrina Social de la Iglesia”, publicado por la Pontificia Universidad Católica de Puerto Rico (PUCPR) y realizado por el Dr. Hernán Vera, decano del Colegio de Estudios Graduados en Ciencias de la Conducta y Asuntos de la Comunidad de la PUCPR.

El estudio destaca que la falta de un modelo económico en el país, que permita la generación de empleos y la acumulación de capital, ha provocado la pauperización de un amplio segmento de la población del país. Las políticas neoliberales (reducir el tamaño del gobierno, privatizaciones, etc.) parece haber agravado esta situación.

Algunos de los hallazgos sobresalientes del informe son:
Puerto Rico tiene un mayor nivel de desigualdad económica, medida en términos de la distribución de ingresos que cualquier estado de Estados Unidos.

El 57.4% de los niños del país vive en un núcleo familiar considerado como pobre. Asimismo, el 49.5% de éstos vive en un núcleo familiar en el que se depende de alguna ayuda federal tales como el Seguro Social Suplementario, la Asistencia Social (TANF) o ayuda del Programa de Asistencia Nutricional.

Los niveles de pobreza en Puerto Rico no han disminuido significativamente en los pasados 20 años.

El porcentaje de personas en los umbrales de la pobreza en Puerto Rico son significativamente más altos que en los EE.UU. según cifras del 2012. En EE.UU., 15.9% de la población puede ser considerada pobre, en contraste con un 45.6% en Puerto Rico, ambas cifras del 2011.

Entre 2010–2011 en Puerto Rico, un total de 1,659,792 personas vivían bajo los niveles de pobreza según establecidos por el Negociado del Censo de los EE.UU.

En esas fechas, había en el país un 22.6% más de personas pobres que en la jurisdicción más pobre de los EE.UU.

Puerto Rico es la jurisdicción de los EE.UU. con un mayor nivel de desigualdad económica, medida en términos de la distribución de ingresos.

Existe una brecha salarial entre varones y féminas de cerca de $8,000 anuales, lo cual apunta a una gran desigualdad salarial entre géneros.

La Ley 3 del 2013, que enmienda el sistema de retiro de los empleados públicos pudiera tener el efecto de empobrecer a una buena parte de este segmento poblacional que compone el 15.2% de la población del país. Se especula que si se establece una medida similar en el sistema de retiro de maestros, el resultado sería devastador, pues estos funcionarios no cuentan con los beneficios del Seguro Social.
La inflación y las crisis económicas han golpeado más fuertemente a las personas mayores de 65 años.

Puerto Rico ha tenido una tasa de desempleo superior al 10% desde los 1950’s, lo cual se denomina como desempleo crónico o estructural. Las políticas públicas para combatir este mal han tenido pocos resultados.

El desempleo tiende a golpear más fuertemente a algunos municipios. La denominada región este del país, tuvo en el 2013 una tasa de desempleo mayor al 50%.

El país se está convirtiendo en uno de trabajadores precarios, a tiempo parcial y con salario mínimo. Para enero del 2013, de 1,033,000 personas que laboraban, 449,000 trabajaba menos de 40 horas a la semana, es decir, a tiempo parcial.
Aún con trabajo, la situación del puertorriqueño es precaria. Para enero de 2013, de 1,033,000 personas que laboraban, 449,000 trabajaban menos de 40 horas a la semana, es decir, a tiempo parcial y con salario mínimo. Además, existe una brecha salarial entre varones y féminas de cerca de $8,000 dólares anuales, lo cual apunta a una gran desigualdad salarial entre géneros.

El estudio del Dr. Vera no solo expone la situación sino que propone algunas recomendaciones para superar los problemas de la pobreza y la desigualdad en el País.

“Puerto Rico cuenta con elementos de infraestructura, comercio e industria que comunican una imagen de opulencia y progreso material.

Esto crea en la conciencia colectiva una noción de que hemos erradicado la pobreza y la desigualdad en nuestro País. Sin embargo, existe en Puerto Rico otra realidad que se ha agudizado durante los últimos casi diez años de recesión y retos económicos.

La pobreza y desigualdad calan hondo en el tejido social del País y este informe busca entender este fenómeno con más profundidad”, resaltó el Dr. Vera.
Entre las recomendaciones presentadas en el informe se destacan: la capacitación de personas desempleadas en el establecimiento de y desarrollo de PYMES; llevar a cabo un estudio que ausculte las razones para la persistente brecha salarial entre varones y mujeres en el País; desarrollar campañas de medios masivos para elevar la dignidad del trabajo y su valor en la Isla; y establecer requisitos de trabajo, estudio, adiestramiento laboral, gestiones hacia la búsqueda de un empleo o servicio comunitario similares a los establecidos en el Programa de Ayuda Temporera a Familias en Necesidad.

Divulgado Por:

Rolando Emmanuelli Jiménez

-- Desde Mi iPhone

Ubicación:Calle A,Ponce,Estados Unidos

Se modera la inflación en septiembre

Mon, Oct 21, 2013

Por Luisa García Pelatti
de www.sincomillas.com

La inflación se moderó en septiembre y se situó en 1.3%, su nivel más bajo en los últimos tres meses.

El Indice de Precios al Consumidor (IPC) creció 0.1% entre agosto y septiembre, según los datos más recientes del Departamento del Trabajo y Recursos Humanos.

Entre agosto y septiembre aumentaron los precios de Alimentos y Bebidas (0.3%); Alojamiento (0.7%, debido al incremento en el factor de ajuste para producir electricidad); Cuidado Médico (0.3%, aumento en el costo de las medicinas recetadas); y Educación y Comunicación (0.2%).

Por otra parte, los precios disminuyeron en las categorías de Ropa (-0.2%); Transporte (-0.8%); y Entretenimiento (-0.6%).
La inflación promedio en el 2012 se situó en 1.3%, por debajo del 2.9% del 2011 y del 2.5% del 2010. A finales del 2009, el aumento en el nivel general de precios era de 5.8%. Y en el verano del 2008, con el precio del petróleo por encima de los $100, en Puerto Rico la inflación estaba en 7.9%.


Divulgado por:

Rolando Emmanuelli Jiménez, J.D. LL.M.
rolando@bufete-emmanuelli.com

http://www.bufete-emmanuelli.com
http://www.bufeteamadopereira.com
http://www.remmanuelli.com

-- Desde Mi iPad

Bonos de Puerto Rico: los precios podrían caer más de 50%

Bonos de Puerto Rico: los precios podrían caer más de 50%
Sun, Oct 20, 2013
Por Luisa García Pelatti
WWW.sincomillas.com

Desde hace dos años, la firma The Spectrum Group no recomienda comprar bonos de Puerto Rico. A los que tienen bonos le pide “paciencia, perseverancia y sabiduría” porque, ante el temor a una posible degradación, los precios, dice, podrían caer más de 50%. Cuando eso ocurra, entonces la firma sí recomendaría comprar bonos de Puerto Rico.
Actualmente, los bonos registran una caída de 17% en el precio, según el informe de The Spectrum Group (Puerto Rico Investors October 2013).

Aunque la firma dice que no está pronosticando una degradación en la clasificación de la deuda, cree que el mes de diciembre será clave y cree que los precios podría caer a su nivel más bajo. Cuando eso ocurra recomienda comprar.
El interés por los bonos de Puerto Rico podría haber empezado ya con la llegada de “hedge funds”.

Divulgado por:

Rolando Emmanuelli Jiménez, J.D. LL.M.
rolando@bufete-emmanuelli.com

http://www.bufete-emmanuelli.com
http://www.bufeteamadopereira.com
http://www.remmanuelli.com

-- Desde Mi iPad

Bankruptcy as an Asset Protection Tool – Part 2

In Part 1, we explore “bankruptcy for the rich.” As I stated, at least half of my clients these days are in complete control of their financial picture, with one glaring exception – that underwater house.

It is said that bankruptcy is merely a “tool” in the toolbox, meaning that, when used correctly, it gets the job done, and that it is often used in conjunction with other “tools” to complete a project. This analogy is especially true for underwater homes.

C’MON BANK, LET’S MAKE A DEAL

I have written extensively about the Chapter 13 Mortgage Modification Mediation Program and how bankruptcy leverage gives homeowners the highest probability of a meaningful mortgage modification.

Under the threat of sanctions, the mortgage servicing industry actually cooperates with the homeowner to rewrite the home loan. As this phenomenal program matures, the judges and the banks are becoming more receptive to the process, and the results continue to outpace non-bankruptcy modification applications.

We have many examples of meaningful modifications that succeeded only because the homeowner invoked the power of the Federal Bankruptcy Court and demanded that the mortgage servicer comply with its obligation to modify.

IS THAT A HOME OR AN ALBATROSS?

Sometimes, the best decision is to walk away from your home or investment property. For instance, In Florida, many homes are still 25% or more underwater, and Fannie Mae and Freddie Mac STILL do not allow for the reduction of principal balance in a modified mortgage. Modification without reduction makes absolutely no sense for many Floridians.

Chapter 13 of the Bankruptcy Code allows debtors to surrender any secured collateral, including cars, RVs and houses. In some bankruptcy courts, like the Jacksonville Division of the Middle District of Florida, a debtor has the opportunity to surrender this collateral “in full satisfaction” of the secured debt.

For example, when a Chapter 13 Plan is approved by the Court at a “confirmation hearing,” and that plan surrenders a house “in full satisfaction” of the debt owed to the bank, the bank can never seek a deficiency, and if a bank files a 1099 with the IRS for “debt forgiveness” the IRS does not consider it income to the debtor/taxpayer.

I SURRENDER! NOW WHAT?

Once the house is successfully surrendered in bankruptcy, the debtor should consider short selling it. The State of Florida is a “lien theory” state, meaning that, when a buyer purchases a home, he or she gets actual title to the property, and the bank takes a lien (known as a mortgage). The lender must go through the process of foreclosure in order to get title to the property, free and clear of all inferior interests and liens. The upshot is that, even having surrendered your house in bankruptcy, you will still end up with a foreclosure on your credit.

“So what?” you ask. Well, the largest underwriters of residential mortgage, Fannie Mae and Freddie Mac, have stated that they will consider underwriting a mortgage for someone who short sells their home two years after the sale, even with a bankruptcy on your credit. By contrast, you must wait up to five years after a completed foreclosure before they will underwrite that same mortgage.

It’s clear that Fannie and Freddie view the foreclosure worse than either a short sale or bankruptcy, and because the debt has been eliminated in bankruptcy, the lender knows that it cannot demand that the homeowner come to the closing with cash. Therefore, the bankruptcy actually “greases” the short-selling gears by streamlining paperwork, resulting in faster closings.

Considering the relative ease with which a bankrupt debtor can short sell (as compared to anyone who has not filed a bankruptcy), the short sale should typically be part of a surrender strategy.

If your home or investment property is preventing you from kick-starting your post-recession finances, talk to a qualified bankruptcy attorney about modifying your mortgage or surrendering your home.

Bankruptcy Law Network, LLC, 6502 S. 6th Street, Klamath Falls, OR 97603, USA


Divulgado por:

Rolando Emmanuelli Jiménez, J.D. LL.M.
rolando@bufete-emmanuelli.com

http://www.bufete-emmanuelli.com
http://www.bufeteamadopereira.com
http://www.remmanuelli.com

-- Desde Mi iPad

ankruptcy as an asset protection tool – Part 1

Bankruptcy as an asset protection tool – Part 1

When thinking of a bankruptcy debtor, do you conjure an image like the one to the right? If so, consider this:

Clearly half of my bankruptcy clients have high household income and have accumulated lots of assets. They owe little or no unsecured debt (e.g. credit cards and medical bills), and their car payments are current or non-existent.

So why would someone NOT in financial trouble file a bankruptcy? Bankruptcy is usually the most effective way to encapsulate and protect assets from underwater real estate.

These asset-protection clients fall into one of two categories: Some of these clients file solely to force their mortgage company to modify their home loan in the Chapter 13 Mortgage Modification Mediation Program, and the rest of these fiscally responsible clients are using bankruptcy to surrender underwater real estate back to the mortgage company.

DOES THIS PORTFOLIO MAKE MY ASSETS LOOK BIG?

So, the title of this article suggests, “Rich people can protect assets in bankruptcy.” In many cases, this is an absolutely true statement. I have personally filed bankruptcy for tens of dozens of “rich” people with hundreds of thousands of dollars in non-exempt assets and/or high, six figure incomes . . . and they get to keep everything.

The key is that, as long as a debtor pays 100% of his unsecured debt (e.g. credit cards and medical bills), he or she gets to keep every asset not securing a debt. Since most rich people have little or no unsecured debt, this is a no-brainer.

Okay, so you’re not “rich,” but you definitely have some “stress-reduction” toys you accumulated when times were better. You’re managing the debt, but it’s a struggle. Furthermore, your credit is taking a pounding because you’re behind on your house payments. This strategy works just as well for you.

Let’s say you have $20,000 in credit card debt across 4 different lenders. You will have to pay that debt back over the life of the Chapter 13 plan if each lender files a timely, valid proof of claim. The truth is that credit card companies (and their debt collection companies) often fail to follow the rules of the Bankruptcy Code, leaving many claims vulnerable to objections. If the lender fails to come correct, the claim is wiped out.

CHAPTER 13 IN THE EXPRESS LANE

Under the Bankruptcy Code, a debtor with household income above the “median” must stay in a Chapter 13 Bankruptcy for 5 YEARS. Well, my rich clients don’t have time for a five-year plan. It’s a good thing that there is an important exception to this general rule: A debtor can exit a Chapter 13 bankruptcy with a discharge as soon as he pays 100% of his unsecured debt. We have already established that rich debtors usually have little unsecured debt, and that means these clients get finish their Chapter 13 case in as little as 8 MONTHS.

PART DEUX

Now that we’ve established that “rich” people can and do file bankruptcies to encapsulate and protect assets and income, Part 2 will explore HOW bankruptcy fixes that underwater house.


Bankruptcy Law Network, LLC, 6502 S. 6th Street, Klamath Falls, OR 97603, USA


Divulgado por:

Rolando Emmanuelli Jiménez, J.D. LL.M.
rolando@bufete-emmanuelli.com

http://www.bufete-emmanuelli.com
http://www.bufeteamadopereira.com
http://www.remmanuelli.com

-- Desde Mi iPad

Have A Judgment Against Me, Will Bankruptcy Help?

I Have A Judgment Against Me, Will Bankruptcy Help?

I have often been asked if bankruptcy is still an option if a judgment has been entered. Most times, a bankruptcy can still be very beneficial. But, we have to determine the effect of the judgment.

In most states, as soon as a judgment is entered, the judgment lien will attach to real property in the county in which the judgment was rendered. If the judgment was transcribed to other counties, then the judgment will be a lien against real estate in those counties, too. If the property is held as husband and wife or “tenants by the entirety,” the creditor must have sued both husband and wife and the same time in order for the judgment lien to attach to the real estate. But, for our purposes, let’s suppose that there is a valid lien against the real estate.

A big advantage of bankruptcy is that under section 522 of the Bankruptcy Code, a debtor can avoid a judgment lien if it impairs an exemption. Most states allow a debtor to exempt a certain amount of “value” in residential real estate. If the judgment lien has attached to that real estate and “impairs” the exemption, then the judgment lien can be avoided in its entirety and the creditors’ claim is treated as an unsecured claim.

So, how to determine if the judgment lien impairs an exemption.

The Bankruptcy Codes sets for a formula to determine if an exemption is impaired. Under the code, if the lien to be avoided and all other liens on the property and the debtors’ exemption exceed the value of the debtors’ interest in the property, the exemption is impaired and the judgment lien can be avoided in its entirety. So how does this work?

In North Carolina, debtors are allowed to exempt $35,000.00 in equity in real estate (each if jointly titled). So, if there is a judgment against the debtors for $20,000.00 and the property is worth $150,000 with a $100,000.00 mortgage, would the judgment lien be avoided?

Debtor’s interest in house: $150,000.0 Mortgage $100,000.00

Exemption $35,000.00

Judgment $20,000.00

Total: $155,000.00

Because the total of the liens and exemptions on the property exceed the debtor’s interest, the judgment lien can be avoided and the creditor treated as an unsecured debt. This is a unique aspect of bankruptcy.

While hopefully you should discuss your finances with a qualified bankruptcy attorney before judgments are entered, it is nice to know that, under certain circumstances, judgment liens can be avoided under the Bankruptcy Code.

Bankruptcy Law Network, LLC, 6502 S. 6th Street, Klamath Falls, OR 97603, USA

Divulgado por:

Rolando Emmanuelli Jiménez, J.D. LL.M.
rolando@bufete-emmanuelli.com

http://www.bufete-emmanuelli.com
http://www.bufeteamadopereira.com
http://www.remmanuelli.com

-- Desde Mi iPad

La demanda de electricidad cayó 2.4% en agosto

La demanda de electricidad cayó 2.4% en agosto
De Sincomillas.com
http://sincomillas.com/la-demanda-de-electricidad-cayo-2-4-en-agosto/

El consumo de energía eléctrica disminuyó 2.4% en el mes de agosto, arrastrado por una caída en la demanda comercial y residencial. Es la segunda caída consecutiva. En el 2012 el consumo de electricidad se redujo 0.6%, después de una merma de 3.9% en el 2011.

El consumo de energía -un indicador representativo del comportamiento de la economía, y una variable que se mide con mucha precisión- había mostrado señales de recuperación en el 2010 y desde entonces hasta ahora se ha estado reduciendo, con altibajos.

Los datos muestran que el consumo de energía eléctrica se situó en 1,572 millones de kilovatios-hora (kv-h) en agosto del 2013, por encima del consumo del mes de agosto del 2012, que fue de 1,718 (kv-h).

El consumo en el sector residencial –que representan un 37% del consumo total– registró un descenso de 1.9%. El consumo comercial (47% el consumo total), se redujo 1.1%. Por su parte, el consumo energético en el sector industrial creció 5.2%.


Divulgado por:

Rolando Emmanuelli Jiménez, J.D. LL.M.
rolando@bufete-emmanuelli.com

http://www.bufete-emmanuelli.com
http://www.bufeteamadopereira.com
http://www.remmanuelli.com

-- Desde Mi iPad

Why You Should FIle Bankruptcy Now…and Why Delaying Makes You Feel Better

Courtesy Creative Commons

It’s an old saying among bankruptcy attorneys that their clients should have seen them at least a year ago.

If they did, they wouldn’t have done all of the things that cost them lots and lots and lots of money:

Taking money out of retirement programs to pay unsecured debt;

Borrowing money from banks, taking out cash advances from credit cards, dealing with payday lenders;

Selling real estate or other assets;

Borrowing money from friends and family;

Drawing down their bank accounts to pay dischargeable debt;
Getting sued, or garnished or attached;

Dealing with a year of unpleasant phone calls, nasty letters and stress.

So, given all of these problems, why don’t people speak with a bankruptcy attorney sooner? The answer lies in the legitimate and very real desire to avoid bankruptcy. By the time many of my clients first call me, they have already taken money out of their retirement, sold what they could, borrowed money from whomever would lend it to them, run through their savings, gotten sued, and been driven frantic by bill collector calls and letters. Most people going through financial difficulties believe that better times are just around the corner, and “If I can just get through things until…” it will be all better.

Unfortunately, it often does not get better.

Nevertheless, people who have done these things know, deep down, they they really did everything possible to avoid bankruptcy. Did it cost them a lot of money? Yes. Did knowing that they did everything they could to not have to call me give them some degree of comfort? Probably. But I think that most of my clients would rather have the money back!


Bankruptcy Law Network, LLC, 6502 S. 6th Street, Klamath Falls, OR 97603, USA

Divulgado por:

Rolando Emmanuelli Jiménez, J.D. LL.M.
rolando@bufete-emmanuelli.com

http://www.bufete-emmanuelli.com
http://www.bufeteamadopereira.com
http://www.remmanuelli.com

-- Desde Mi iPad

La economía caerá 0.6% en el 2014

Por Luisa García Pelatti de Sin Comillas

Las proyecciones de la firma Estudios Técnicos, Inc. apuntan a una nueva caída de la actividad económica en el actual año fiscal. La economía podría contraerse 0.6% en el año fiscal 2014, tras una reducción de 1.3% en el año fiscal 2013. José J. Villamil, presidente de la Junta de Directores de la firma de consultoría, que presentó estas proyecciones durante su participación en el Congreso de Vivienda, dijo que “todas las medidas que se han tenido que tomar abonan a esa proyección en el año fiscal 2014″, pero asegura que el futuro es positivo. Prevé un crecimiento escaso pero positivo en el año fiscal 2015 y en el 2016 el alza podría ser de 1.5%.

Presentó algunos indicadores económicos, entre ellos los datos de empleo privado, que sigue cayendo.

“Puerto Rico tiene todas las condiciones para ser exitoso en el tema de desarrollo económico. Reconocer el problema es el primer paso”, puntualizó Villamil. “Tenemos que entender que no es una situación recesionaria típica”. Advirtió que podría tomarnos una década, hasta el 2021, regresar a los niveles de actividad económica del 2006. Pero cree que podremos lograrlo. Para ello se necesita que todos los sectores de la sociedad se enfoquen en buscar soluciones ”y no estar cada cual halando para su lado”. Hay que remar en la misma dirección, pero también sacrificar algunas cosas.

Las propuestas de desarrollo económico presentadas durante los últimos 10 años indican que hay uniformidad en todas las iniciativas. “Estamos todos los sectores apuntando en la misma dirección. Sabemos lo que hay que hacer”. Y lo que hay que hacer a corto plazo es:

Re-estructurar el sistema contributivo para simplificarlo e incluir estímulos a la inversión.
Redirigir recursos públicos hacia la inversión en Presupuestos 2015 y 2016. Entre otros, eliminando incentivos y subsidios innecesarios o poco efectivos
Atender el déficit estructural previsto para el 2014 y 2015, algo que se está haciendo.
Re-estructurar la organización del sistema de formulación e implantación de política económica.
Atender el problema de las altas tasas de delincuencia en préstamos hipotecarios como parte de un esfuerzo de racionalizar el mercado de vivienda.

A mediano plazo se necesita:

Desarrollar una política pública sobre la empresa local y su futuro que permita integrar esfuerzos ahora dispersos.
Poner en marcha un programa para eliminar proyectos y agencias de gobierno que no son costo-efectivos o necesarios.
Reformar el mercado laboral para que sea eficiente, equitativo y que estimule la productividad.
Aprobar una política educativa que integre el sistema, ahora muy fragmentado, y lo haga funcional con el entorno económico y social.
Re-estructurar el sistema energético hacia fuentes no fósiles de energía y a gas natural como medida transitoria. Villamil aclaró que Puerto Rico va a ser un lugar con altos costos de energía por mucho tiempo. Los cambios podrían tardar años en reflejar una baja en los precios.
Los servicios avanzados podrían convertirse en la punta de lanza del desarrollo, pero se requieren modificaciones en las estrategias de desarrollo económico. Y hay potencial de crecimiento en sectores locales muy exitosos como:
Exportaciones por empresas locales de tecnología en áreas como validación, cumplimiento (compliance), informática, servicios ambientales y otros servicios avanzados.
La inserción de empresas locales en las cadenas de abasto de empresas multinacionales es otra área de oportunidad.
La agro-industria es un sector en donde empresas locales han estado muy activas y en que el mercado local y exterior ofrece oportunidades.

Existe el potencial de aumentar ventas al gobierno local como al federal.

Hay oportunidades de sustitución de importaciones en algunos productos de consumo, pero es en bienes intermedios en donde son mayores las oportunidades de crecimiento.


Divulgado por:

Rolando Emmanuelli Jiménez, J.D. LL.M.
rolando@bufete-emmanuelli.com

http://www.bufete-emmanuelli.com
http://www.bufeteamadopereira.com
http://www.remmanuelli.com

-- Desde Mi iPad

Attorney-Client Privilege Doesn’t Apply in Chapter 7, Florida Bankruptcy Court Rules

A Florida bankruptcy court ruling just made it harder for a debtor to claim that the things she tells her bankruptcy lawyer are protected by the attorney-client privilege. In re Smith Cutuli, No. 11-35256-BKC-AJC (Bky.S.D.Fla. Sept. 13, 2013), held that upon the filing of a chapter 7 case, ownership of the debtor’s attorney-client privilege passes to the chapter 7 trustee.

Without this privilege, any papers, notes, worksheets, or other information given by the debtor to her bankruptcy lawyer, along with the content of any conversations she may have had with her lawyer, are fair game for the chapter 7 trustee, and could become public knowledge.

Of course, everyone relies on the expectation that when seeking a lawyer’s advice about any legal matter, including bankruptcy, the attorney-client privilege protects against disclosure by the lawyer, or the client, of the discussions had with the lawyer. With some exceptions, this also protects any of the papers or other information gathered by the lawyer in connection with the case.

While the attorney-client privilege applies in all types of legal matters, it has had a checkered history in bankruptcy cases. Most practitioners agree that bankruptcy courts will uphold the privilege on behalf bankruptcy debtors, but add that there are a some reported court decisions to the contrary.

In fact, a careful reading of cases denying the attorney-client privilege in bankruptcy reveals that most involve claims that the privilege was somehow waived by the debtor, or that the debtor engaged in fraudulent or even criminal activity. Under longstanding federal court precedent, such actions negate the attorney-client privilege.

In re Smith Cutuli is just such a case. The debtor filed chapter 7 in Florida on September 12, 2011. Among other things, the bankruptcy court found that she transferred over $2,000,000 to her husband’s bank accounts three weeks later. The debtor had also been involved in complex litigation prior to her bankruptcy filing in Napa County, California. The California court had also found that there was a civil conspiracy between the debtor and others to commit fraud and hide assets.

While the bankruptcy court in Smith Cutuli did hold that the debtor’s attorney-client privilege passed to the chapter 7 trustee upon the filing bankruptcy, as is the rule in cases with this unfortunate holding, the debtor had committed multiple “bad acts” and there was a history of contentious litigation involving the debtor in other courts.

The Smith Cutuli case should be viewed as a warning that while the attorney-client privilege is alive and well in bankruptcy, and has plenty of well reasoned case law to support its vitality, canny bankruptcy trustees may be willing to ask courts to strip the privilege from debtors in some cases.


Bankruptcy Law Network, LLC, 6502 S. 6th Street, Klamath Falls, OR 97603, USA


Divulgado por:

Rolando Emmanuelli Jiménez, J.D. LL.M.
rolando@bufete-emmanuelli.com

http://www.bufete-emmanuelli.com
http://www.bufeteamadopereira.com
http://www.remmanuelli.com

-- Desde Mi iPad

The 874 bankruptcy cases filed in Puerto Rico in September were 4 percent higher than those on record for the same month last year

U.S. Bankruptcy Court in Old San Juan (Credit: © Mauricio Pascual)

The 874 bankruptcy cases filed in Puerto Rico in September were 4 percent higher than those on record for the same month last year, while the 8,144 petitions submitted to the U.S. Bankruptcy Court during the first nine months of this year were up by the same percent vs. the same year-ago period, a local research firm revealed Wednesday.

Data compiled by Boletín de Puerto Rico shows that the total petitions filed through September, represent 331 more cases versus those on record for January-September 2012.

When broken down, the majority of the cases filed in September, 534, were submitted under the Chapter 13 category, which gives individuals the chance to reorganize their finances. So far this year, 5,118 people have sought protection from the U.S Bankruptcy Court in Puerto Rico.

Coming in second are the 318 Chapter 7 cases, seeking total liquidation, submitted in September. For the first nine months of the year, 2,853 such filings have been submitted.

There are 20 Chapter 11 filings on record for September, and a total 158 so far this year, from businesses that are seeking to reorganize their finances through this type of protection.

Meanwhile, two farming operations filed for Chapter 12 protection last month, a category that is reserved exclusively for troubled agriculture businesses. A total of 15 such cases are on record for the first nine months of this year.


http://newsismybusiness.com/puerto-rico-bankruptcy-filings-up-4-in-september/

Rolando Emmanuelli Jiménez, J.D. LL.M.
rolando@bufete-emmanuelli.com

http://www.bufete-emmanuelli.com
http://www.bufeteamadopereira.com
http://www.remmanuelli.com

-- Desde Mi iPad

Aumento en las quiebras de agosto de 2011

Por Luisa García Pelatti de Sin Comillas
http://sincomillas.com/las-quiebras-aumentan-11-en-agosto/

En el mes de agosto se radicaron 997 quiebras, 103 más que hace un año. La cifra supone un alza de 11%, el mayor aumento en los últimos cuatro meses, según cifras revisadas del Boletín de Puerto Rico.

Las quiebras habían estado reduciéndose durante 7 de los últimos 12 meses, tras aumentar durante cuatro años consecutivos.

Un 61% de las quiebras corresponde al Capítulo 13.
Las quiebras comerciales ascendieron a 474. Las principales quiebras comerciales se produjeron entre contratistas (37), restaurantes (25), cafeterías (25), mecánicos (18) y desarrolladores de proyectos de construcción (14).

En 2012 se radicaron 10,357 quiebras. La cifra, representa una reducción de 8%. Se trata de la segunda caída consecutiva tras cuatro años de fuertes subidas.

Las quiebras alcanzaron su nivel más alto en el 2010, con 12,376, 9.6% más que en el 2009, la cifra más alta desde el 2005, cuando el presidente George W. Bush, firmó la nueva Ley de Quiebra.


Rolando Emmanuelli Jiménez, J.D. LL.M.
rolando@bufete-emmanuelli.com

http://www.bufete-emmanuelli.com
http://www.bufeteamadopereira.com
http://www.remmanuelli.com

-- Desde Mi iPad