When U.S. Bankruptcy Judge Morris Stern fined New Jersey firm Shapiro & Diaz $125,000 in June for violating pleading rules in hundreds of Chapter 13 cases, he said he wanted to deter others from making similar breaches. It seems to have worked; lawyers who do high-volume Chapter 13 work for lenders say the sanction has heightened awareness. "I can't imagine a firm violating the rules now, after what he did," says one bankruptcy bar leader. Shapiro is appealing the sanction as punitive.
September 12, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
When U.S. Bankruptcy Judge Morris Stern fined a firm $125,000 in June for violating pleading rules in hundreds of Chapter 13 cases, he said he wanted to deter other firms from making similar breaches.
It seems to have worked. Stern’s sanction against Marlton, N.J.’s Shapiro & Diaz has heightened awareness of the pitfalls of skirting the rules, lawyers who do high-volume work for lenders in Chapter 13 cases said last week.
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