The Seventh Circuit reversed the district court's order dismissing the bankruptcy trustee's legal malpractice complaint against Katten Muchin Rosenman LLP ("Katten"), holding that the trustee...
Corrie Opportunities Fund, LP v. Emmis Communications Corp., Court of Appeals, 7th Circuit (July 2, 2015)
Ruling:
This ruling set a precedent, as there have been no cases in Indiana courts that interpret the statutes discussed in this case. As long as a share is “outstanding,” it has a vote and in...
Summarized by Mazyar Hedayat , M. Hedayat & Associates, PC
10 years 9 months ago
Citation:
14-2864
Ruling:
Summary Judgment confirmed. While the FCRA requires credit bureaus to report that a bankruptcy petition was withdrawn “upon receipt of documentation certifying such withdrawal,” and calls for a...
1756 W. Lake Street LLC v. American Chartered Bank and Scherston Real Estate Investments, LLC, Court of Appeals, 7th Circuit (May 15, 2015)
Ruling:
Value derived from several forbearance agreements and related concessions from a creditor satisfies the reasonable equivalence test in the face of an avoidance action brought by the debtor where...
Summarized by Mazyar Hedayat , M. Hedayat & Associates, PC
10 years 11 months ago
Citation:
13-C-3919
Ruling:
The Defendant-Appellee, Marcus-Rehtmeyer, concealed assets and income in her State Court Citation hearing with sufficient intent to justify denial of the discharge as to the debt of...
The Seventh Circuit affirmed the district court's order affirming confirmation of the debtor's chapter 13 plan, holding that as a general matter an above-median debtor may categorically exclude...
Sullivan v. Glenn, No. 14-3213 (7th Cir. Apr. 2, 2015)
Ruling:
The court AFFIRMED the ruling of the district court. The court accepted that the loan broker was the Glenns' agent, as the Glenns hired the loan broker to negotiate a short-term loan on their...
Summarized by Bonnie Clair , U.S. Bankruptcy Court, Eastern District of Missouri
11 years 2 weeks ago
Citation:
Metrou v. M.A. Morteson Co., No. 14-8030, --- WL --- (7th Cir. Mar. 23, 2015)
Ruling:
In a matter of first impression at the appellate level and reversing the decision below, the Seventh Circuit declined to utilize judicial estoppel to cap a Chapter 7 trustee's potential recovery in...
BB Syndication Services Inc. v. First American Title Insurance Company, Court of Appeals, 7th Circuit 2015 (unpublished)
Ruling:
The Seventh Circuit held that when a lender cuts off loan funding by reason of a construction project’s overspending, the lender is, in fact, “creating” or “suffering” a mechanic’s lien...
Gerard v. Gerard, No. 14-1496 (7th Cir. Mar. 12, 2015)
Ruling:
The 7th Circuit reversed the U.S. District Court (E.D. Wis.), which had affirmed the bankruptcy court's entry of judgment of nondischargeability under 11 USC 523(a)(6)(willful and malicious injury)...
