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7th Circuit

State Bank of Toulon v. Covey (In re Duckworth)

Citation: 
In Re: David L. Duckworth, State Bank of Toulon v. Charles E. Covey, Ch. 7 Trustee for David L. Duckworth, Case Nos. 14-1561 and 14-1650 (7th Cir. Nov. 21, 2014) (unpublished)
Ruling: 
Parol evidence cannot be used against a bankruptcy trustee to reform a security agreement or to correct the mistaken identification of the debt to be secured. The lender cannot obtain reformation under the composite document rule because a bankruptcy ...
Judge(s): 
Flaum, Rovner, Hamilton
Read on...

Skavysh v. Katsman (In re Katsman)

Citation: 
Skavysh v. Katsman (In re Katsman), No. 13-C-1881 (7th Cir. Sept. 23, 2014)
Ruling: 
The Court of Appeals affirmed the District Court's holding, affirming that a Chapter 7 Debtor is not intitled to a discharge under Section 727(a)(4)(A), even in a "No-Asset" case, when she intentionally omits known creditors for any deceptive purpose.
Judge(s): 
Posner, Rovner and Williams, Circuit Judges.
Read on...

Greene v. U.S. Dept. of Education

Citation: 
Greene v. U.S. Dep't of Education, Case No. 13-3257 (7th Cir. Oct. 27, 2014) (unpublished)
Ruling: 
The reasons for making some counterclaims compulsory are to prevent harassment by the filing of repeated claims and to avoid duplicative litigation. Stating that any counterclaim that ultimately arises out of the same transaction or occurrence must be filed ...
Judge(s): 
Posner, Flaum, Sykes
Read on...

Richardson v. Koch Law Firm, P.C.

Citation: 
Richardson v. Koch Law Firm, P.C No. 12-3868
Ruling: 
Court of Appeals Holding: Since the State Court vacated the initial default judgment, justification for the District Court’s dismissal under Rooker-Feldman no longer exists. Additionally, Richardson has been entirely derelict in his own defense. He has failed on several ...
Judge(s): 
Chief Judge Wood; Judge Easterbrook; Judge Sykes
Read on...

KDC Foods v. Gary, Plant, Mooty

Citation: 
KDC Foods, Inc. v. Gray, Plant, Mooty, Mooty & Bennett, P.A., No. 13-3678, --- WL --- (7th Cir. Aug. 15, 2014)
Ruling: 
The Court held that the causes of action accrued when the debtor should have discovered the facts constituting the fraud and had sufficient information to make it aware of the need to investigate further. The Court found the the ...
Judge(s): 
Tinder, Hamilton, Kapala (sitting by designation)
Read on...

Levin v. Miller

Citation: 
App. No. No. 12-3474 (7th Circuit Court of Appeals) - August 14, 2014
Ruling: 
The Seventh Circuit held that the derivative claims held by the trustee of a bankrupt bank holding company against former managers were assigned by federal law to the FDIC, and upheld the district court's dismissal of those counts. The ...
Judge(s): 
Wood, Easterbrook, Hamilton (Opinion by Easterbrook; concurrence by Hamilton).
Read on...

Gabino v. Koonce

Citation: 
Case No. 13-2756 (July 2, 2014)
Ruling: 
Successful slander of title suit under Illinois state law satisfied the nondischargeability requirements of 523(a)(2) and 523(a)(6), such that Debtor was collaterally estopped from asserting as a defense that the requisite intent was absent. Federal courts apply the preclusion ...
Judge(s): 
Wood, Williams, and Hamilton
Read on...

Spaine v. Community Contracts, Inc.

Citation: 
13-3059, 2014 WL 2855000 (7th Cir. 2014)
Ruling: 
Trial court ruled that Spaine, with intent, concealed from the bankruptcy court her claims against Community Contacts, and by so doing she should be judicially estopped from asserting her claim. The Appellate Court reversed the lower court’s ruling on ...
Judge(s): 
Virginia M. Kendall
Read on...

C.P. Hall Co. v. Columbia Casualty Co.

Citation: 
C.P. Hall Co. v. Columbia Cas. Co., No. 13-1306, 2014 WL 1628119 (7th Cir. Apr. 24, 2014).
Ruling: 
The Court held that an excess liability insurer lacked standing to object to a settlement between a debtor and one of its primary insurance coverage providers. The Court followed its precedent to find that a party in interest authorized ...
Judge(s): 
Posner, Flaum, Rovner
Read on...

Grede v. FCStone, LLC

Citation: 
Grede v. FCStone, LLC, No. 09 C 136 (7th Cir. Mar. 19, 2014)
Ruling: 
The court REVERSED the judgment of the district court. The pre-petition transfer was exempted from avoidance under Section 546(e), because it was a "settlement payment" and a transfer made "in connection with" a "securities contract." The pre-petition transfer ...
Judge(s): 
Manion, Rovner, and Hamilton.
Read on...
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