A reclamation claim made under UCC § 2-702 and 11 U.S.C. § 546(c) does not give rise to a purchase money security interest, and is inferior to a previously perfected floating lien on the assets...
The Second Circuit Court of Appeals affirmed the bankruptcy court’s decision, finding that the trustee’s recovery of a portion of the proceeds from the debtor’s unauthorized post-petition...
FTI Consulting, Inc. v. Merit Mgmt. Group, LP), Case No. 15-3388 (7th Cir. July 28, 2016).
Ruling:
The safe harbor provision of 11 U.S.C. § 546(e) does not shield a transfer of funds through a financial institution acting only as a conduit between the debtor and the transferee, neither of which...
Affirm the District Court's dismissal of the complaint, on preemption rather than standing grounds. The rights of creditors to bring state law, fraudulent conveyance claims not limited in the...
Summarized by Stephen Falanga , Walsh Pizzi O'Reilly Falanga LLP
9 years 11 months ago
Citation:
2016 U.S. App. LEXIS 5787 (2d Cir. N.Y. Mar. 29, 2016)
Ruling:
The Second Circuit addressed two issues: (i) whether appellants are barred by the Bankruptcy Code's automatic stay provision from bringing state law, constructive fraudulent conveyance claims while...
Judge(s):
WINTER, DRONEY, Circuit Judges, and HELLERSTEIN, District Judge
9th Circuit Bankruptcy Appellate Case No. CC-15-1180-FCTa (February 24, 2016)
Ruling:
The 9th Circuit Bankruptcy Appellate Panel ("BAP") entered two separate rulings related to the same facts. The BAP held that in tolling statutes of limitations, the courts have typically assumed...
Rund v. Bank of America Corp. (In re EPD Investment Co., LLC), BAP Nos. CC-13-1374-KiKuDa and CC-13-1375-KiKuDa (9th Cir., Jan. 7, 2015)
Ruling:
REVERSING the order of the bankruptcy court, the BAP held that 11 USC 546 (a) preempts a state-law fraudulent transfer statute of repose, and that the reach back period is established on the...
Summarized by Joel Levitin , Cahill Gordon & Reindel LLP
11 years 6 months ago
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...
Summarized by Elizabeth Gunn , United States Bankruptcy Court, District of Columbia
11 years 9 months ago
Citation:
Branch Bank. & Trust Co. v. Constr. Super. Servs., Inc., Case No 13-1560 (4th Cir. May 22, 2014)
Ruling:
Unperfected subcontractors lien is an interest in property as of the petition date for section 362(b)(3) and 546(b) purposes despite not having served notice of (i.e. perfected) such lien under...
