Shirley v. Smith (In re Shirley) Case No. 12-6012 (B.A.P. 8th Cir. June 15, 2012)
Ruling:
Under the Iowa Homestead statute, moving over two miles and declaring a new homestead is not a change in the limits of the homestead, and will not serve to extend the old homestead's exemption to...
Summarized by Brooke Schumm , Daneker, McIntire, Schumm, et al.
13 years 11 months ago
Citation:
Bank of New York Mellon Trust Co., N.A. v. Tysons Financial, LLC (In re Botero-Paramo), Slip Opinion, June 8, 2012, Case No. 11-1886 (4th Cir. 2012).
Ruling:
The Fourth Circuit Court of Appeals affirmed the District Court which had affirmed the Bankruptcy Court. In an extremely fact specific unpublished opinion, all of the courts considering the facts...
Judge(s):
Chief Judge Traxler, Circuit Judges King and Duncan.
In re Heritage Highgate, Inc. and Heritage Twin Ponds, L.P., Debtors, Case No. 11-1889, ---F.3d ---- (3d Cir. May 14, 2012)(slip opinion) (Rendell, J.)
Ruling:
First, real estate is to be valued under Section 506(a) at fair market replacement value as of the date of Chapter 11 Plan confirmation. Second, lien-stripping is allowed in a Chapter 11...
Summarized by John Marck , OFFICE OF THE DISTRICT ATTORNEY
14 years 1 week ago
Citation:
BAP No. CC-11-1144-KiMkH (9th Cir. May 10, 2012)
Ruling:
Vacated and remanded the bankruptcy court's order granting a Stay Relief Order under § 362(d)(2) and granting relief under § 362(d)(4). Finding the bankruptcy court abused its discretion by...
In re The Plaza Resort at Palmas, Inc., No. 09-09980 (B.A.P. 1st Cir. April 25, 2012)
Ruling:
AFFIRMING the bankruptcy court, the B.A.P. found that both the record on appeal and the law of Puerto Rico amply supported the bankruptcy court’s rejection of the allegations of the complaint and...
Summarized by Paul Hage , Taft, Stettinius & Hollister, LLP
14 years 1 month ago
Citation:
In re Jonathan M. Webb [No. 11-8016] (6th Cir. B.A.P. Apr. 9, 2012)
Ruling:
The Sixth Circuit Bankruptcy Appellate Panel held that: (i) the doctrine of lis pendens did not preclude certain real property from becoming property of the debtor's bankruptcy estate, (ii) the...
Summarized by John Marck , OFFICE OF THE DISTRICT ATTORNEY
14 years 1 month ago
Citation:
Case No. 12-6008 (8th Cir. Apr. 5, 2012)
Ruling:
Affirmed bankruptcy court's order holding that mechanic liens attach to an earnest money deposit of the highest bidder at an auction sale of the property, who failed to purchase the property. Such...
No. 11-10445 (5th Cir. March 9, 2012) (unpublished opinion and not precedent except as provided by 5TH CIR. R. 47.5.4)
Ruling:
The Fifth Circuit Court of Appeals agreed with the bankruptcy court and held that a Chapter 11 plan was ambiguous because (1) it did not explicitly state the manner in which a subordinated creditor...
Summarized by Frank Volk , U.S. Bankruptcy Court, Southern District of West Virginia
14 years 3 months ago
Citation:
SunTrust Bank, N.A. v. Macky (In re McCormick), No. 10-2027, --- F.3d ----, 2012 WL 414667 (4th Cir. Feb. 10, 2012).
Ruling:
The same notice imputed to a bona fide purchaser is that which is enjoyed by a trustee pursuant to 11 U.S.C. § 544(a)(3), thus permitting the trustee under applicable North Carolina law to rely...
Judge(s):
Hon. Paul V. Niemeyer, Hon. G. Steven Agee, and Hon. James A. Wynn, Jr.
A secured creditor can object to a plan to protect its lien from unfavorable treatment, but a plan can be crammed down over objection provided one of three subsections of Bankruptcy Code §...
