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Wrong Wesley Steen?

Hon. Wesley W. Steen

Direct Phone: (713) ***-****       

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Company Description

Texas bankruptcy law provides information on exemptions, local courts, and general information on the bankruptcy laws. ... more

Find other employees at this company (14)

Background Information

Employment History


Bankruptcy Code

S.D. Texas


American Bankruptcy Institute


U.S. Courts

Judicial Intern

the United States Bankruptcy Court


Board Member
Virtual Paper Inc

Web References (159 Total References)

Texas Bankruptcy Court directory - Beaumont, Lufkin, Sherman, TylerAlbilene, Amarillo, Dallas, Fort Worth, Lubbock, San Angelo, Wichita FallsBrownsville, Corpus Christi, Houston, McAllen, Laredo, VictoriaAustin, El Paso, Midland, San Antonio, Waco Texas B [cached]

Hon. Wesley Steen 6202 U.S. Courthouse 515 Rusk Ave. Houston, TX 77002 (713)250-5779

Hon. Wesley W. ... [cached]

Hon. Wesley W. Steen Chairman

2006-07 Hon. Wesley W. Steen

Texas Bankruptcy Court Information [cached]

Hon. Wesley Steen 6202 U.S. Courthouse 515 Rusk Ave. Houston, TX 77002 (713)250-5779

Texas Southern District Bankruptcy Court [cached]

Hon. Wesley Steen 6202 U.S. Courthouse 515 Rusk Ave. Houston, TX 77002 (713)250-5779

Bankruptcy Litigation Blog: Houston's Chief Judge Wesley Steen Refuses to Let Unclaimed Funds Escheat to the Cheats [cached]

Houston also is home to one of the hottest bankruptcy districts, whose judges include Judge Marvin Isgur, whose opinions have stirred much controversy on severalfronts, and Chief Judge Wesley Steen, who last year completed his term as the first sitting judge to serve as President of the American Bankruptcy Institute.

Much personal gratitude is due Judge Steen for his recommendation of this blog as a resource to incoming judicial clerks, and for the establishment of the ABI Bankruptcy Blog Exchange under his watch, which includes this blog at the top of the list.
Judge Steen, for his part, also has his own fiery sauce for lawyers, as reported last year by the WSJ Law Blog's founder, Peter Lattman.
Despite the lack of response or opposition, Judge Steen found himself in a quandary since " deposit of unclaimed funds into the registry of the court is only available under Bankruptcy Code § 347(a) and only for unclaimed funds in chapters 7, 12, and 13. Conversely, unclaimed funds in a chapter 11, he noted, is governed by Bankruptcy Code § 347(b), which requires that the funds revert to the debtor or to the entity acquiring the assets of the debtor under a plan.
Judge Steen, however, saw no justice in letting the unclaimed funds escheat to the cheats, and so wouldn't let the money go back to the debtor and its principals. Literal application of § 347(b), however, would have resulted here in an "infinite circular loop" that would "be broken only when the administrative expenses of continuing the loop extinguished the funds in the trust. Judge Steen thus broke the loop and ordered that the funds be deposited into the Court's registry to escheat to the United States and further disposition under 28 USC § 2041 et seq.
The problem faced by Judge Steen and the liquidating trustee is not new, with liquidating trustees and disbursing agents long trying to creatively distribute unclaimed funds.
It'd be hard to fault Judge Steen for funding such a worthy cause!

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