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Topic: Finance and Banking

PEM Entities LLC v. Province Grande Olde Liberty, LLC, et al. (In re Province Grande Olde Liberty, LLC)

Citation: 
Case No. 15-1669 (4th Cir., Aug. 12, 2016)
Ruling: 
Fourth Circuit reviewed bankruptcy court's analysis of the eleven factors adopted in In re Dornier Aviation (North America), Inc., 453 F.3d 225 (4th Cir. 2006) and, in a per curiam decision, affirmed and upheld lower court judgments which re-characterized debt ...
Judge(s): 
Chief Judge Roger L. Gregory, Circuit Judge William B. Traxler, Jr., and Senior U.S. District Judge Joseph F. Anderson, sitting by designation
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Owens v. LVNV Funding, LLC

Citation: 
Owens v. LNVN Funding, LLC, Case Nos. 15-2044, 15-2082, 15-2109 (7th Cir. Aug. 10, 2016)
Ruling: 
Majority: The filing of a proof of claim, by a debt collector, on a "stale debt" is not, in and of itself, a false, deceptive, or misleading practice prohibited by the Fair Debt Collection Practices Act. Dissent: ...
Judge(s): 
Flaum & Bauer, with Wood dissenting.
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Ritchie Capital Management v. GECC

Citation: 
Ritchie Capital Management, LLC v. General Electric Capital Corp., Case No. 15-2816 (2d Cir. May 11, 2016) (per curiam)
Ruling: 
The Second Circuit Court of Appeals affirmed the District Court's holding that an investor in a Ponzi scheme lacks standing to bring claims for aiding and abetting fraud and civil conspiracy to commit fraud because the causes of action were ...
Judge(s): 
WALKER, CALABRESI, and HALL
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In re Energy Future Holdings Corp. et al.

Citation: 
In re Energy Future Holdings Corp., Case No. 15-1591 (3d Cir. May 4, 2016)
Ruling: 
1. The use of a "tender offer" to solicit a settlement, subject to bankruptcy court approval, is permissible if the "tender offer" is appropriately structured. 2. A settlement outside of the plan-confirmation context need not comply with the Bankruptcy ...
Judge(s): 
Greenaway Jr., Vanaskie, and Shwartz
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In re Jepson

Citation: 
In re Jepson, No. 14-2459 (7th Cir. April 15, 2016) (unpublished).
Ruling: 
A motion to stay this court’s mandate pending final disposition of the litigation in the Supreme Court was denied because the movant intended to raise an issue of constitutional standing in her petition for certiorari, where prudential standing formed the ...
Judge(s): 
Ripple
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Michael's Enterprises of Virginia, Inc. v. Branch Bank and Trust Company (In re Michael's Enterprises of Virginia, Inc.)

Citation: 
Michael's Enterprises of Virginia, Inc. v. Branch Bank and Trust Company (In re Michael's Enterprises of Virginia, Inc.), Case no. 15-1807 (4th Cir. Apr. 6, 2016) (unpublished) (per curiam)
Ruling: 
The decision of the bankruptcy court awarding sanctions against the corporate debtor and its sole shareholder on the grounds that the chapter 11 petition had been filed for the improper purpose of collaterally attacking a state court's pre-petition ruling on ...
Judge(s): 
Before Wilkinson and Floyd, Circuit Judges, and Davis, Senior Circuit Judge.
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Jepson v. Bank of New York Mellon (In re Jepson)

Citation: 
Jepson v. Bank of New York Mellon (In re Jepson), Case No. 14-2459 (7th Cir. Mar. 22, 2016)
Ruling: 
The Court of Appeals ruled that, under New York law, a debtor-homeowner, does not have standing to challenge the assignment of a note / mortgage based upon the lender's alleged failure to comply with the terms of a pooling and ...
Judge(s): 
Posner, Ripple, and Hamilton
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Rent-A-Center East, Inc. v. Leonard (In re WEB2B Payment Solutions, Inc.)

Citation: 
Rent-A-Center East, Inc. v. Leonard (In re WEB2B Payment Solutions, Inc.), Case No. 14-3190
Ruling: 
The court held that: (1) all proceeds from the debtor's bank account from its automated clearinghouse and electronic-check conversion services to Rent-A-Center East, Inc. ("RAC") were bankruptcy estate property under Section 541(a), (2) no express trust or resulting trust was ...
Judge(s): 
Smith, Bye, and Benton
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Summers v. Financial Freedom Acquisition LLC

Citation: 
Summers v. Financial Freedom Acquisition LLC; Case No. 14-1930 (1st Cir. October 23, 2015)
Ruling: 
Plaintiff lacked standing to challenge two mortgage assignments and mortgagee's failure to file claim in decedent's probate proceeding did not bar its recovery of sums due under a reverse mortgage via foreclosure following the death of the mortgagor.
Judge(s): 
Howard, Chief Judge; Selya and Thompson, Circuit Judges.
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Brumfiel v. Lewis (In re Brumfiel)

Citation: 
Brumfiel v. Lewis, et al. (In re Brumfiel), Case No. CO-15-014 (B.A.P. 10th Cir. October 8, 2015). Unpublished.
Ruling: 
Claims debtor fails to disclose in her bankruptcy schedules remain estate property upon closing of the case and bankruptcy court has jurisdiction to approve a settlement respecting those claims after case is re-opened.
Judge(s): 
Karlin, Cornish, Michael (Karlin)
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