The Bankruptcy Appellate Panel of the Ninth Circuit (the "BAP") determined that proceedings to annul the automatic stay after the underlying bankruptcy case is dismissed fall within the ambit of...
Summarized by John Eggum , Foran Glennon Palandech Ponzi & Rudloff
12 years 11 months ago
Citation:
Nos. 12-3200/3201 (3d Cir., May 21, 2013)
Ruling:
Debtor lacked standing to challenge non-debtor parent/shareholder's revocation of election of S Corp status. Rejecting cases from other circuits, the Third Circuit found that S Corp status is not...
Summarized by Joel Levitin , Cahill Gordon & Reindel LLP
12 years 11 months ago
Citation:
Docket No. 12-1632-bk (2nd Cir. May 8, 2013)
Ruling:
AFFIRMED District Court and held that failing to deliver repossessed vehicle to the debtor promptly after receiving notice of pending petition constituted willful violation of the automatic stay...
Judge(s):
Circuit Judges Cabranes, Raggi, and Carney (Decision by Susan L. Carney).
Debtor has no standing to claim wife's interest in tax refund where he specifically denied that he had any interest in the tax refund, did not schedule or exempt the funds, and the wife had not...
Second circuit upheld decisions of bankruptcy court and district court recognizing that Fairfield Sentry Limited ("Sentry") had its center of main intest ("COMI") in the British Virgin Islands...
Judge(s):
Jacobs, Chief Judge; Winter, Circuit Judge; Swain District Judge
Chapter 7 debtor lacked standing to appeal because he could not demonstrate that either (1) a reasonable possibility existed that a surplus would exist if the order on appeal was denied or (2) the...
Cook v. Wells Fargo Bank, N.A., et al., Case No. 12-2100 (10th Cir. April 2, 2013) (unpublished)
Ruling:
Failure to follow the procedural requirements of § 554 and Rule 6007 renders abandonment ineffective resulting in Appellant lack of standing to pursue sanctions motion and § 102(1) is not...
Affirming the bankruptcy court (the “BC”), the Bankruptcy Appellate Panel (the “BAP”) for the Eighth Circuit held that a creditor loses its possessory lien in deposit accounts when it...
Judge(s):
Federman, Chief Judge, Schermer, and Nail, bankruptcy judges.
Bankruptcy Court did not abuse its discretion in dismissing Chapter 11 cases for "cause" pursuant to Section 1112(b) where it projected negative net cash flow through 2020, ceased making adequate...
Summarized by Laura Bartell , Wayne State University Law School
13 years 1 month ago
Citation:
No. 12-8030 (6th Cir. BAP March 14, 2013)
Ruling:
The Sixth Circuit Bankruptcy Appellate Panel vacated order of bankruptcy court for the S.D. Ohio denying confirmation of debtors' chapter 13 plan, dismissing debtors' bankruptcy case and ordering...
