Summarized by Mazyar Hedayat , M. Hedayat & Associates, PC
12 years 7 months ago
Citation:
10‐3787, 10‐3990 & 11‐1123
Ruling:
The 7th Circuit affirmed the District Court's denial of the illegal contract claim that had been filed by the Trustee but reversed the lower court's denial of fraudulent transfer and equitable...
The Seventh Circuit Court of Appeals reversed and remanded the District Court’s ruling, which had affirmed the Bankruptcy Court’s entry of default judgment on a state law alter-ego claim, in...
Summarized by Madison Conquest , State of Tennessee Real Estate Asset Management
12 years 8 months ago
Citation:
Bank of America, N.A. v. James A. Knight, et al., Case No. 12-2698 (7th Cir. August 8, 2013)
Ruling:
Affirmed dismissal of all claims for failure to allege plausibly that the accountants knew that Knight’s “primary intent” was to benefit the particular plaintiff Bank. Under federal and state...
Judge(s):
EASTERBROOK, Chief Judge, and BAUER and KANNE, Circuit Judges
In re Gary E. Peel, No. 13-1547 (7th Cir. Aug. 2, 2013).
Ruling:
1) A non-lawyer can sign and file bankruptcy documents under Illinois law, since those tasks do not require legal knowledge or skill. 2) An ex-wife's claim to divorce settlement agreement...
Summarized by John Eggum , Foran Glennon Palandech Ponzi & Rudloff
12 years 9 months ago
Citation:
(7th Cir., No. 12-3492)
Ruling:
Chapter 7 debtor cannot strip-off a wholly-unsecured mortgage. The Seventh Circuit distinguished the ability to strip-off wholly-unsecured mortgages in Chapter 13 because "[t]he strip-off right in...
Seventh Circuit Court of Appeals AFFIRMED the decision of the the Bankruptcy Court holding that the Bankruptcy Court's interpretation of section 506(d) as stated in Dewsnup v. Timm (502 U.S. 410...
Summarized by Mazyar Hedayat , M. Hedayat & Associates, PC
12 years 9 months ago
Citation:
No. 12-2976
Ruling:
The Wisconsin Bankruptcy Court and District Court erred by applying BR 7015 instead of BR 7054, which is based on FRCP 54(a)-(c). That rule of civil procedure directs that a Federal Trial Court...
Judge(s):
MANION and WOOD, Circuit Judges. BARKER, District Judge.
A cross-collateralization clause in first priority mortgage put second priority mortgagee on inquiry notice of debt in excess of promissory note specified in first mortgage. Therefore, first...
Judge(s):
Kanne, Williams and Zagel (by designation from the Northern District of Illinois).
Summarized by Mark Melickian , Raines Feldman Littrell LLP
12 years 11 months ago
Citation:
Case Nos. 12-1241 and 12-1255, 7th Cir. Court of Appeals (decided April 23, 2013)
Ruling:
Reversing the district court, the 7th Circuit panel agreed with the bankruptcy court (450 B.R. 858 (Bankr. W.D. Wis. 2011)) that IRA "retirement funds" lose their character once they are...
Judge(s):
Frank Easterbrook, Chief Judge; Joel Flaum, Circuit Judge; Ann Williams, Circuit Judge.
Summarized by George Spathis , Horwood Marcus & Berk Chartered
12 years 12 months ago
Citation:
No. 12-3592 (7th Cir. April 10, 2013)
Ruling:
The Seventh Court held that the bankruptcy court did not abuse its discretion in discharging debtor's student loan obligation under Section 523(a)(8) of the Bankruptcy Code. The panel was divided...
Judge(s):
Easterbrook, Chief Judge, and Manion and Rovner, Circuit Judges
