Summarized by Mazyar Hedayat , M. Hedayat & Associates, PC
12 years 2 months ago
Citation:
Appeal from US Dist. Ct. ND IL ED, Case No. 11 C 05045
Ruling:
The 7th Circuit was asked to decide whether a Chapter 11 Debtor in Possession could bring an action to recoup its Federal tax payments pursuant to § 544(b)(1). The Court decided it could not, for...
Judge(s):
Before BAUER and FLAUM, Circuit Judges, and VAN BOKKELEN, District Judge
In re New Energy Corp., Case No. 13-2501 (7th Cir. Jan. 15, 2014)
Ruling:
Party who is not a creditor and who elected not to bid at an auction sale does not have standing to contest approval of that sale. In dicta, the Court also stated that: (i) only the trustee...
The Seventh Circuit Court of Appeals affirmed the bankruptcy and district court rulings, by holding that during the redemption period, the interest of a purchaser at tax sale is a secured claim...
Summarized by John Eggum , Foran Glennon Palandech Ponzi & Rudloff
12 years 3 months ago
Citation:
No. 13-1518
Ruling:
In a case applying Illinois law, the Seventh Circuit determined that Section 544(a)(3) strong-arm powers do not enable a Trustee to avoid a recorded mortgage merely because the mortgage does not...
Summarized by Mark Melickian , Raines Feldman Littrell LLP
12 years 3 months ago
Citation:
13-1026
Ruling:
The circuit court affirmed the district court's ruling, but not without comment. The appeal was on several grounds, but this summary focuses on the primary 523(a)(6) analysis, which includes...
Summarized by Mazyar Hedayat , M. Hedayat & Associates, PC
12 years 3 months ago
Citation:
12-3133
Ruling:
The 7th Circuit Court of Appeals refused to interpret ambiguous language in a District Court Opinion as an injunction. On that basis, and since issuing an opinion would require weighing in on many...
Summarized by Paul Lucey , Leverson Lucey & Metz, S.C.
12 years 4 months ago
Citation:
In re James G.Herman, Case No. 13-1186 (7th Cir. Nov. 26, 2013)
Ruling:
Timely and proper notice of the commencement of the debtor's bankruptcy case to an attorney who was representing a creditor with respect to the creditor's claims against the debtor can be imputed...
Judge(s):
Wood, Chief Judge, Bauer and Flaum, Circuit Judges
Claim based on a non-recourse second mortgage must be allowed pursuant to Bankruptcy Code section 1111(b(1)(A), which requires only that the claim be secured by a lien on property of the estate,...
