The Third Circuit affirmed the District Court. 1. The Bankruptcy Court had proper jurisdiction even though the plan had already been confirmed and the dispute was not a core proceeding. Because...
Bankruptcy court did not err in converting chapter 13 case to chapter 7 where debtor consistently failed to comply with bankruptcy court orders and demonstrated bad faith, nor did the court violate...
The safe harbor provision of 11 U.S.C. § 546(e) protects all phases of Complex refinancing and recapitalization transactions in which prior equity owners of the debtor’s parent receive payment...
Judge(s):
SUSAN L. CARNEY, JOSEPH F. BIANCO, ALISON J. NATHAN, Circuit Judges
An order reversing a bankruptcy court's decision to deny recognition of a foreign insolvency proceeding does not trigger the automatic stay of 11 U.S.C. § 1120 nunc pro tunc to the date of the...
Judge(s):
Carlos T. Bea, David F. Hamilton,* and Morgan Christen, Circuit Judges [*United States Court of Appeals for the Seventh Circuit, sitting by designation]
The Ninth Circuit Court of Appeals affirmed the Bankruptcy Appellate Panel (BAP) and bankruptcy court's dismissal of the plaintiff's complaint, though only on the failure to state a claim and not...
Because a bankruptcy trustee steps into the shoes of the debtor rather than shoes of a prepetition receiver, the defense of in pari delicto remains available to a defendant in an adversary...
The chapter 7 trustee (i) had Article III standing to bring a fraudulent transfer avoidance action because the trustee represents the bankruptcy estate, not the debtor's creditors; and (ii) did not...
Judge(s):
Carlos T. Bea, David F. Hamilton,* and Morgan Christen, Circuit Judges (*United States Court of Appeals for the Seventh Circuit, sitting by designation)
The Ninth Circuit Court of Appeals affirmed the Bankruptcy Appellate Panel (BAP) and bankruptcy court decisions granting summary judgment in favor of the chapter 7 trustee on his 11 USC...
Proceeds from embezzlement litigation was not collateral of a loan where the security agreement did not describe the litigation. Pennsylvania’s Article 9 of the Uniform Commercial Code ("UCC"),...
Avoidance under 11 U.S.C. § 724(a) of the portion of a tax lien for penalties does not alter the priority of the amount of the tax authority's unavoided lien claim against the proceeds of the...
Judge(s):
Susan P. Graber, Roopali H. Desai, and Ana de Alba, Circuit Judges
