Business Bankruptcy Law Board Certification by the Louisiana Board of Legal Specialization

The Louisiana Board of Legal Specialization has established comprehensive standards that attorneys must meet to achieve certification in Business Bankruptcy Law. These requirements ensure that certified specialists possess significant expertise and a deep commitment to the field.

1. Certification from the American Board of Certification (ABC)

• Mandatory Certification: Applicants must first secure certification from the ABC, an organization recognized for setting national standards in bankruptcy law. This involves passing a rigorous written examination specific to Business Bankruptcy Law.
• Scope of Practice: The ABC certification requires substantial experience in handling business bankruptcy cases under Chapters 7, 9, 11, 12, or 13 of the Bankruptcy Code, which deal with entities engaged in business before filing a bankruptcy petition.

2. Continuing Legal Education (CLE)

• CLE Requirements: Applicants must meet all CLE requirements as stipulated by the ABC. The CLE programs that count toward certification must also receive approval from the Louisiana State Bar Association’s Mandatory Continuing Legal Education (MCLE) Committee. This ensures that attorneys remain current with evolving legal standards and practices in business bankruptcy law.

3. Professional References

• Reference Validation: The application process requires that attorneys provide references as mandated by the ABC. These references must come from professionals who can credibly attest to the applicant’s competence, ethical standards, and proficiency in handling business bankruptcy cases.

4. Professional Liability Insurance

• Insurance Coverage: Applicants must carry professional liability insurance with a minimum coverage of $1,000,000. The insurance policy must include provisions acceptable to the Bankruptcy Law Advisory Commission. This requirement safeguards clients by ensuring that certified attorneys are adequately insured against potential claims.

5. Active Membership and Practice

• Bar Membership: Applicants must be active members in good standing with the Louisiana State Bar Association.
• Full-Time Practice: The attorney must certify under oath that they engage in full-time legal practice, with at least 35% of their work focused specifically on bankruptcy law. This commitment is crucial to maintaining the specialist’s depth of knowledge and practical experience in the field.

6. Certification Duration

• Certification Validity: Once granted, the certification is valid for five years. During this period, the attorney must adhere to all maintenance requirements, including annual CLE and professional liability insurance, to retain their certified status.

These detailed requirements emphasize the high standards expected of specialists in Business Bankruptcy Law, ensuring they maintain the expertise and ethical practices necessary to provide top-tier legal services in this complex area of law.

The process to obtain Board certification in Business Bankruptcy Law from the Louisiana Board of Legal Specialization is meticulous and requires several key steps:

1. Obtain Certification from the American Board of Certification (ABC)

• ABC Certification: The first essential step is to apply for and obtain certification in Business Bankruptcy Law from the ABC. This involves passing a rigorous written examination specific to business bankruptcy, which tests the applicant’s knowledge and expertise in this area of law.
• Eligibility Requirements: To qualify for the ABC certification, applicants must have substantial experience handling business bankruptcy cases, typically under Chapters 7, 9, 11, 12, or 13 of the Bankruptcy Code. The ABC requires applicants to demonstrate significant involvement in this practice area, ensuring that only those with deep practical experience are certified.

2. Submission of the Louisiana Board Application

• Application Form: After obtaining ABC certification, applicants must submit a comprehensive application to the Louisiana Board of Legal Specialization. This application requires detailed documentation of the applicant's qualifications.
• Continuing Legal Education (CLE) Compliance: Applicants must provide evidence of having met all the required CLE credits, as mandated by the ABC, with additional approval from the Louisiana Mandatory Continuing Legal Education (MCLE) Committee. The CLE courses should focus on bankruptcy law and must keep the attorney updated on the latest developments and best practices in this specialized field.
• Professional References: The application must include references that meet the ABC’s requirements. These references are crucial as they provide independent verification of the applicant’s competence, professionalism, and ethical conduct in business bankruptcy law.
• Professional Liability Insurance: Applicants are required to submit proof of maintaining professional liability insurance with a minimum coverage of $1,000,000. The insurance policy must include provisions acceptable to the Bankruptcy Law Advisory Commission, ensuring that the applicant has adequate protection in place for their practice.

3. Oath and Full-Time Practice Certification

• Certification of Practice: The applicant must certify under oath that they engage in the full-time practice of law, with at least 35% of their work dedicated specifically to bankruptcy law. This ensures that the specialist’s practice remains focused on the area of business bankruptcy, thereby maintaining their expertise.
• Active Membership: Applicants must also certify that they are active members in good standing with the Louisiana State Bar Association. This ongoing membership is essential to uphold the legal and ethical standards expected of specialists.

4. Review and Approval by the Louisiana Board of Legal Specialization

• Board Review: Once the application is submitted, the Louisiana Board of Legal Specialization conducts a thorough review of the applicant’s qualifications, including their experience, CLE credits, references, and insurance coverage.
• Approval and Certification: Upon successful review and verification of all requirements, the Board grants certification, which becomes effective immediately. The certification is valid for five years, during which the specialist must continue to meet annual requirements, such as maintaining CLE credits and professional liability insurance, to retain their certification.

5. Certification Duration and Recertification

• Five-Year Certification Period: The initial certification is valid for five years. During this period, the certified specialist must continue to meet ongoing requirements to maintain their status.
• Recertification Process: At the end of the five-year period, the specialist must apply for recertification, which involves demonstrating continued compliance with all the original certification requirements, including recertification with the ABC.

This detailed process ensures that attorneys certified in Business Bankruptcy Law by the Louisiana Board of Legal Specialization are among the most qualified and dedicated professionals in the field, capable of handling complex bankruptcy cases with a high level of expertise and professionalism.

Maintaining Board certification in Business Bankruptcy Law from the Louisiana Board of Legal Specialization requires ongoing dedication to professional excellence. Certified specialists must fulfill specific annual duties, including meeting Continuing Legal Education (CLE) requirements and maintaining professional liability insurance. Every five years, specialists must go through a recertification process to verify their continued compliance with these standards. Failure to meet these obligations can lead to decertification, ensuring that only the most qualified attorneys retain their specialist status.

Annual Duties for Business Bankruptcy Law Specialists

Certified specialists in Business Bankruptcy Law have several key obligations they must fulfill each year to maintain their certification:

1. Active Membership: The specialist must remain an active member in good standing with the Louisiana State Bar Association.

2. Full-Time Practice Certification: Specialists must certify under oath each year that they are engaged in the full-time practice of law and that at least 35% of their work is dedicated to bankruptcy law. This ensures that they maintain their focus and expertise in the specialized area of Business Bankruptcy Law.

3. Continuing Legal Education (CLE): Specialists are required to complete specific CLE requirements annually, as mandated by the American Board of Certification (ABC) and approved by the Louisiana Mandatory Continuing Legal Education Committee. This ongoing education is critical to staying current with the latest developments and best practices in bankruptcy law.

4. Professional Liability Insurance: Specialists must maintain a minimum of $1,000,000 in professional liability insurance, with policy provisions acceptable to the Board. Proof of insurance must be submitted annually along with the payment of dues.

5. Fees and Dues: All required fees and dues must be paid to the Louisiana Board of Legal Specialization to remain in good standing.

Recertification Process

Recertification is required every five years to ensure that specialists continue to meet the rigorous standards set by the Louisiana Board of Legal Specialization:

1. Five-Year Recertification: Specialists must submit an application every five years, confirming that they have met all the ongoing requirements, including CLE, practice focus, and insurance coverage. This application must be submitted on a form provided by the Board.

2. ABC Recertification: As part of the recertification process, specialists must also obtain recertification from the American Board of Certification (ABC). This step ensures that the specialist continues to meet the national standards for expertise in Business Bankruptcy Law.

3. Ongoing Compliance: The recertification application must include a sworn statement verifying continued adherence to the annual duties outlined above.

Decertification

The Louisiana Board of Legal Specialization reserves the right to revoke certification for several reasons, including:

1. Non-Compliance: Failure to meet the annual requirements, such as completing CLE, maintaining professional liability insurance, or paying dues, can result in decertification.

2. ABC Certification: If the American Board of Certification revokes the specialist’s certification, the Louisiana Board of Legal Specialization may also revoke their certification.

3. Other Causes: Certification may also be revoked for other reasons specified in the Louisiana State Bar Association's Plan of Legal Specialization.

These stringent requirements ensure that attorneys recognized as specialists in Business Bankruptcy Law consistently maintain the highest standards of professionalism, competence, and ethical conduct throughout their careers.