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...
Summarized by Stephen Falanga , Walsh Pizzi O'Reilly Falanga LLP
11 years 1 month ago
Citation:
Nos. 14‐97‐bk(L) (August Term 2014)
Ruling:
The Securities Investor Protection Act, 15 U.S.C. § 78aaa, et seq. (“SIPA” or “the Act”), does not permit an inflation or interest adjustment to “net equity” claims for customer...
Summarized by Joel Levitin , Cahill Gordon & Reindel LLP
11 years 1 month ago
Citation:
No. 14-1422-bk (2nd Cir. February 11, 2015) (Summary Order)
Ruling:
In Summary Order, with no precedential effect, the Court held that individual debtors were collaterally estopped in the context of non-dischargeablity litigation in bankruptcy from relitigating...
Judge(s):
Barrington D. Parker, Peter W. Hall, and Debra Ann Livingston, Circuit Judges
Summarized by G. Warner , St. John's University School of Law
11 years 1 month ago
Citation:
No. 14-1144 (2d Cir.) (Feb. 5, 2015)
Ruling:
Although the trustee is required to administer the debtor corporation's ERISA plan under 11 U.S.C. 704(a)(11), the bankruptcy court lacks jurisdiction to award compensation from the assets of the...
The circuit court affirmed the district court's ruling that the appellant lacked standing to opt out of or object to the reorganization plan on behalf of a putative class in a separate securities...
Judge(s):
Murtha, J. (sitting by designation); Walker, J.; Hall, J.
Summarized by Stephen Falanga , Walsh Pizzi O'Reilly Falanga LLP
11 years 2 months ago
Citation:
2015 U.S. App. LEXIS 859 (2nd Cir. Jan. 21, 2015)
Ruling:
A secured party's authorization to file a UCC-3 termination statement of a UCC-1 Financing Statement filed under the Article 9 of the Uniform Commercial Code (UCC) is all that is required to...
Summarized by Weston Eguchi , Willkie Farr & Gallagher LLP
11 years 2 months ago
Citation:
Case No. 14-817-bk(L) (2d Cir. Jan. 21, 2015) (Summary Order, not precedential)
Ruling:
Second Circuit held that the bankruptcy court abused its discretion when it denied a motion to reopen the bankruptcy case without considering what prejudice, if any, would result from granting the...
Summarized by Hale Lake , Hinshaw & Culbertson, LLP
11 years 2 months ago
Citation:
Official Committee of Unsecured Creditors of Motors Liquidation Company v. JPMorgan Chase Bank, N.A. (In re Motors Liquidation Company), Docket No. 2013-02187, --- F.3d --- (2d. Cir. Jan. 21, 2015)
Ruling:
The UCC-3 termination statement filed by the debtor terminating three UCC-1s, including one mistakenly included that related to a separate term loan, was effective to terminate the security...
Summarized by Joel Levitin , Cahill Gordon & Reindel LLP
11 years 2 months ago
Citation:
Docket No. 12-4364-cv (2nd Cir. January 9, 2015)
Ruling:
Non-party parent of debtor in appellate litigation was not permitted to be substituted for its subsidiary that settled underlying litigation (through its bankruptcy trustee) and dismissed appeal,...
December 23, 2014 Second Circuit Court of Appeals Docket No. 14-312-cv, 2014 U.S. App. LEXIS 24390
Ruling:
The Second Circuit Court of Appeals affirmed the District Court’s decision that the National Credit Union Administration Board (“NCUA”), acting as liquidating agent for a failed credit union...
