Summarized by Madison Conquest , State of Tennessee Real Estate Asset Management
13 years 1 day ago
Citation:
In re Canopy Financial, Inc., No. 12-3239 (February 28, 2013) (Easterbrook, Posner and Tinder, Circuit Judges).
Ruling:
Affirmed. Though a trial judge has discretion to excuse some negligent errors under the equitable “excusable neglect” standard of Pioneer Investment Services Co. v. Brunswick Associates L.P.,...
Judge(s):
Easterbrook, Chief Judge, Posner and Tinder, Circuit Judges. Conlon, District Judge. Wedoff, Bankruptcy Judge.
The decision of the bankruptcy appellate panel was affirmed. The debtor cannot state a claim for avoidance of payments that necessarily resulted in a dollar-for-dollar reduction in tax penalties...
Summarized by Amy Quackenboss , American Bankruptcy Institute
13 years 2 months ago
Citation:
Case No. 11-35162 (9th Cir. December 4, 2012)
Ruling:
Ninth Circuit held that a bankruptcy judge lacks constitutional authority to enter a final judgment in a fraudulent conveyance action against a nonclaimant to the bankruptcy estate, but that the...
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...
Summarized by Robert Miller , University of South Dakota, Knudson School of Law
13 years 5 months ago
Citation:
Suhar v. Bruno (In re Neal), Case No.11-8081 (B.A.P. 6th Cir. Sept. 28, 2012)
Ruling:
The Panel found that the Debtor's assumption of the marital credit card debt of the Debtor and the Defendant, as part of a separation agreement, should not impact whether the Debtor received...
Judge(s):
Judge Preston authored the opinion of the court and she was joined by Judge McIvor and Judge Emerson.
Summarized by Paul Lucey , Leverson Lucey & Metz, S.C.
13 years 6 months ago
Citation:
Frederick Grede v. Bank of New York Mellon, Case Nos. 10-3787, 10-3990 & 11-1123 (7th Cir. Aug. 9, 2012)
Ruling:
Order and judgment of the District Court are affirmed: Investment manager's illegal pledge of client funds to secure short-term loans supporting manager's trading activity for its own account and...
The 11th Circuit Court of Appeals REVERSED the district court order and reinstated the bankruptcy court judgment that a transfer was not avoidable because the debtor did not have control of the...
Summarized by B. Chandler , Louisiana State University Paul M. Hebert Law Center
13 years 9 months ago
Citation:
Case No. 11-11071 (11th Cir. May 15, 2012)
Ruling:
The Eleventh Circuit REVERSED the order of the district court, AFFIRMED the liability findings of the bankruptcy court, and REMANDED to the district court for further proceedings consistent with...
The Eleventh Circuit determined that a standard “no-action clause” in a trust indenture prevents noteholders who are not within a stated exception to the clause from asserting fraudulent...
Judge(s):
Wilson and Martion, Circuit Judges, and Albritton, District Judge
Summarized by Andrew Johnson , Onsager | Fletcher | Johnson | Palmer LLC
13 years 10 months ago
Citation:
Tenth Circuit Bankruptcy Appellate Panel (the "10th Cir. BAP"), Case No. 11-038
Ruling:
The "safe harbor" for charitable contributions in 11 U.S.C. 548(a)(2)(A) protects transfers up to an aggregate amount equal to 15% of a debtor's annual gross income. As a result, for a...
