- Slip Op., No. 12‐4131‐bk (2d Cir. Mar. 2, 2015)
- The Circuit Court previously concluded that the application of section 282(2) to New York’s rent stabilization laws raised an unresolved question of New York law and certified the question to the New York Court of Appeals. The Court of Appeals has now responded that the value of a rent‐stabilized lease is a “local public assistance benefit” under New York law. We therefore reverse the decision of the district court and remand for further proceedings consistent with this opinion.
- Procedural context:
- Appeal from a decision of the district court affirming the bankruptcy court’s order striking the debtor’s claim.
- Debtor claimed that the value of her rent‐stabilized lease was exempt from her bankruptcy estate as a “local public assistance benefit” within the meaning of New York Debtor and Creditor Law § 282(2).
- Before: SACK, PARKER, and RAGGI, Circuit Judges.
Hearings in Congress Today to Provide Perspectives on COVID-19's Impact on Small Businesses, Overall Economic Picture
3086 in the system
1 Being Processed