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2nd Circuit

U.S.A. v. Bond

Citation: 
Docket No. 12-4803-bk (2d Cir. August 13, 2014)
Ruling: 
The bankruptcy court lacked subject matter jurisdiction to decide a tax refund claim because the liquidating trustee appointed pursuant to the Debtors' confirmed plan of reorganization did not constitute a "trustee" for purposes of satisfying the requirement of Section 505 ...
Judge(s): 
Jacobs, Sack, and Lohier
Read on...

Picard v. Fairfield Greenwich; Picard v. Schneiderman

Citation: 
Picard v. Fairfield Greenwich; Picard v. Schneiderman, 13‐1289‐bk (L) 13‐1392‐cv (CON); 13‐1785, (2d Cir. August 8, 2014)
Ruling: 
The United States Court of Appeals for the Second Circuit held that the trustee for the liquidation of Bernard L. Madoff Investment Securities LLC (ʺBLMISʺ) and of the bankruptcy estate of Bernard L. Madoff (the "Madoff Trustee") was not entitled ...
Judge(s): 
SACK, CHIN, and DRONEY, Circuit Judges
Read on...

Geron v. Seyfarth Shaw LLP (In re Thelen LLP)

Citation: 
Docket No. 12‐4138‐bk (2d Cir. Aug. 6, 2014)
Ruling: 
After receiving the response of the New York Court of Appeals to two certified questions, the Second Circuit affirmed the decision of the United States District Court for the Southern District of New York, which held that, under New York ...
Judge(s): 
Lynch, Chin, and Carney
Read on...

Bulan v. Calloway

Citation: 
U.S. COURT OF APPEALS FOR THE SECOND CIRCUIT August Term, 2013, Docket No. 12‐1603‐bk
Ruling: 
Affirmed District Court affirming Bankruptcy Court's determination that New York State's increased homestead exemption, from $10,000 to $50,000, applied to judgment liens existing before the statute increasing exemption was enacted.
Judge(s): 
Circuit Judges: Richard C. Wesley and Christopher F. Droney, and District Court Judge Vincent L. Briccetti (SDNY) sitting by designation.
Read on...

Barclays Capital Inc. v. Giddens (In re Lehman Brothers Holdings, Inc.)

Citation: 
12-2322-bk
Ruling: 
Second Circuit affirmed the District Court's decision, which held that Barclays was entitled to both the Margin Assets (i.e., $4bn in collateral supporting Lehman Brother Inc.'s exchange-traded derivatives business) as well as the CBAs (i.e., $1.9bn in unencumbered securities held ...
Judge(s): 
Ralph Winter, Peter Hall and Gerald Lynch
Read on...

Berger & Associates Attorneys v. Kran (In re Kran)

Citation: 
Docket No. 13-1931 (2nd Cir. July 25, 2014)
Ruling: 
Court of Appeals affirmed the lower courts' decisions that the debtor was entitled to a discharge because denial of discharge is an extreme penalty, with exceptions to be narrowly construed, and plaintiffs had not met their burden of establishing the ...
Judge(s): 
Straub, Sack, and Lohier, Circuit Judges
Read on...

Crawford v. Franklin Credit Mgmt Corp.

Citation: 
2nd Cir. Court of Appeals, Docket No. 13-2514, Decided July 11, 2014
Ruling: 
Reversed district court on dismissing TILA and common law fraud claims, based on estoppel and lack of standing. Affirmed denial of plaintiff's motion for summary judgment and granting defendants' motion for summary judgment on other claims. Remanded for proceedings on ...
Judge(s): 
Kearse, Jacobs, and Lynch
Read on...

Asarco LLC v. Goodwin, Shaw, Truslow

Citation: 
Docket No. 13-3954-cv (2d Cir. June 25, 2014)
Ruling: 
AFFIRMING the judgment of the district court dismissing a complaint by the reorganized debtor seeking contribution and subrogation from the Trustees of the residuary trusts created by the will of John D. Rockefeller Sr. (“Rockefeller”), the Court of Appeals for ...
Judge(s): 
Kearse, Jacobs, and Lynch (Circuit Judges)
Read on...

Krys v. Pigott

Citation: 
Krys v. Pigott, Case No. 12-3575(L) (2d Cir. Apr. 11, 2014)
Ruling: 
Under New York law, claims of aiding and abetting (i) fraud and (ii) breach of fiduciary duty require "actual knowledge" of, respectively, the fraudulent scheme and the applicable breach of duty; "constructive knowledge" is insufficient. The Court raised, but ...
Judge(s): 
Kearse, Pooler, and Livingston
Read on...

Tze Wung Consultants, Ltd v. Bank of Baroda (In re Indu Craft, Inc)

Citation: 
12-3901-cv
Ruling: 
In bankruptcy matters, the 30-day time limit incorporated through Federal Rule of Appellate Procedure 6(b)(1) is a non-jurisdictional claim-processing rule under which an untimely appeal can proceed to the merits of the other party does not object. Precedent of ...
Judge(s): 
Hall, Livingston and Droney
Read on...
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