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.
Summarized by Weston Eguchi , Willkie Farr & Gallagher LLP
13 years 1 week ago
Citation:
Avenue CLO Fund Ltd. v. Bank of America, N.A., Case No. 11-10468 (11th Cir. Feb. 20, 2013)
Ruling:
Affirming the district court's rulings, the 11th Circuit concluded that (A) the plaintiff Term Lenders lacked standing to enforce the defendant Revolving Lenders' promise to lend to Borrowers under...
Judge(s):
Tjoflat, Martin and Bucklew (sitting by designation)
Summarized by Laury Macauley , Macauley Law Group, a Professional Corporation
13 years 3 weeks ago
Citation:
Newman v. Schwartzer (In re Newman), --B.R.-- (9th Cir. B.A.P. February 4, 2013)
Ruling:
The Bankruptcy Appellate Panel for the Ninth Circuit affirmed the decision of the Bankruptcy Court holding that, although the Debtor had spent a tax refund prior to the entry of an order for...
The Ninth Circuit BAP (Panel) affirmed (on other grounds) the Bankruptcy Court's order compelling a judgment lien creditor to turnover funds levied upon pre-petition to the chapter 7 debtor.
Summarized by Kevin Baum , Windels Marx Lane & Mittendorf, LLP
13 years 3 months ago
Citation:
Compton v. Anderson (In re MPF Holdings US LLC), No. 11-20478 (5th Cir. Nov. 14, 2012)
Ruling:
Vacating the Bankruptcy Court, the Fifth Circuit held that a reservation of jurisdiction clause of the plan of reorganization was sufficiently specific and unequivocal because the plan stated the...
Kenneth A. Rushton v. Bank of Utah, BAP No. UT-11-098 (B.A.P. 10th Cir. Sept. 5, 2012).
Ruling:
The 10th Circuit BAP affirmed the bankruptcy court's denial of the Chapter 7 Trustee's Motion for Summary Judgment. The bankruptcy court properly denied the Trustee's avoidance claim under 11...
AFFIRMING the BAP order denying the turnover action of the Chapter 7 Trustee on the grounds that unjust enrichment claims exceeds the scope of 11 U.S.C. Section 542(a).
Search Market Direct Inc. v. Jubber (In re Paige), D.C. No. 2:07-CV-00822-DB; BAP No. UT-08-062; D.C. No. 2:09-CV-00988-DB (11th Cir., July 16, 2012)
Ruling:
The Court held: The confirmed Chapter 11 plan was proposed in good faith and was fair and equitable; A proposed competing plan could not have been confirmed because it was not feasible; The...
Judge(s):
BRISCOE, Chief Judge, HOLLOWAY and KELLY, Circuit Judges.
The Eighth Circuit BAP affirmed the judgment against the Trustee in his turnover action that was predicated entirely upon an unjust enrichment claim. The BAP held that section 542(b) and not...
