Internal Revenue Service v. WorldCom, Inc. (In re WorldCom, Inc.), Second Circuit Court of Appeals Case No. 12-803
Ruling:
In reversing and remanding District Court's affirmance of Bankruptcy Court's granting of Debtors' objection to IRS's proof of claim and Debtors' motion for refund of previously paid taxes, Second...
Judge(s):
A.Kearse, R. Katzmann and J.Rakoff (District Judge sitting by designation)
AFFIRMING the District Court, the Second Circuit Court of Appeals held that certain payments made by a debtor subsidiary to noteholders in exchange for private placement notes issued by a debtor...
Judge(s):
Circuit Judges Chin and Lohier; District Judge Swain (sitting by designation)
Summarized by Joel Levitin , Cahill Gordon & Reindel LLP
13 years 1 month ago
Citation:
Docket No. 12-1632-bk (2nd Cir. May 8, 2013)
Ruling:
AFFIRMED District Court and held that failing to deliver repossessed vehicle to the debtor promptly after receiving notice of pending petition constituted willful violation of the automatic stay...
Judge(s):
Circuit Judges Cabranes, Raggi, and Carney (Decision by Susan L. Carney).
Second circuit upheld decisions of bankruptcy court and district court recognizing that Fairfield Sentry Limited ("Sentry") had its center of main intest ("COMI") in the British Virgin Islands...
Judge(s):
Jacobs, Chief Judge; Winter, Circuit Judge; Swain District Judge
Summarized by Amy Quackenboss , American Bankruptcy Institute
13 years 2 months ago
Citation:
Molchatsky v. U.S., Case No. 11-2510 (2nd Cir. April 10, 2013)
Ruling:
Claims arising from the SEC's actions or inaction in its investigation of the Bernard Madoff Ponzi scheme are shielded by the Discretionary Function Exception to the Federal Tort Claims Act and are...
Judge(s):
Wesley, Droney and Alison Nathan (USDC SDNY) sitting by designation.
Commodity Futures Trading Comm'n et al. v. 3M Employee Welfare Benefit Assoc. Trust I, et al., Case No. 11-1516-cv(L) (2d Cir. Apr. 3, 2013)
Ruling:
The Second Circuit affirmed the District Court's decision. The Second Circuit held that (1) securities fraud victims may be considered "similarly situated" for purposes of a pro rata distribution...
Court of Appeals for the Second Circuit affirmed the District Court’s judgment affirming the Bankruptcy Court’s order granting the SIPC Trustee’s motion for an order upholding his denial of...
Summarized by Weston Eguchi , Willkie Farr & Gallagher LLP
13 years 7 months ago
Citation:
TC Healthcare I, LLC v. Dupuis (In re Haven Eldercare, LLC), Case No. 12-468-bk (2d Cir. Nov. 15, 2012) (summary order) [Not Precedential]
Ruling:
The Circuit Court AFFIRMED the District Court judgment barring, as res judicata, the motion of the Appellant, a Section 363 purchaser of the Debtor's assets, seeking an order declaring that...
Judge(s):
Barrington D. Parker, Reena Raggi, and Gerard Lynch.
U.S. v. Colasuonno, Case No. 11-1188 (2nd Cir. Oct. 12, 2012)
Ruling:
Section 362(b)(1) of the Code excepts from the stay "the commencement or a continuation of a criminal action or proceeding against the debtor." In a matter of first impression for this court, the...
Liquidators of Lehman Brothers Australia LImited, Liquidator, Dante Noteholders v. Lehnman Brothers Special Financing Inc. (in re Lehman Brother Holdings Inc.), ___ F3d ___, ___ WL _______ (2d Cir. Oct. 4, 2012), Case No. 11-2967-cv (LEAD), 11-2992-cv (CON)
Ruling:
The Circuit Court VACATED and REMANDED the judgment of the District Court and REINSTATED the appeal for consideration of the Bankruptcy Court order denying intervention on the merits.
Given...
Judge(s):
Jacobs, Chief Judge, and Chin and Droney, Circuit Judges
