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SEC, et al v. Stanford International Bank, et a

Summarizing by Paul Stewart

Official Committee of Unsecured Creditors of Great Lakes Quick Lube LP v. T.D. Investments I, LLP (IN re Great Lakes Quick Lube LP)

Citation:
7th Cir., Case No. 15-2093, Decided March 11, 2016
Ruling:
The judgment of the bankruptcy court was reversed, and the case remanded in order to determine: a) the value of the asset transferred (in the form of commercial leases that were terminated...
Judge(s):
POSNER, FLAUM and WILLIAMS, Circuit Judges
Tag(s):

Schaumburg Bank & Trust, Co., N.A. v. Alsterda

Citation:
15-1894
Ruling:
Since no final judgment or appealable order was entered by the Bankruptcy Court, the Court of Appeals lacks appellate jurisdiction to review the District Court’s decision.
Judge(s):
WOOD, Chief Judge, EASTERBROOK, Circuit Judge, and BRUCE, District Judge
Tag(s):

Smith v. SIPI, LLC, et al. (In re Smith)

Citation:
Smith v. SIPI, LLC (In re Smith), No. 1:13-cv-06422 (7th Cir. Jan. 20, 2016)
Ruling:
A tax sale lawfully conducted according to Illinois's interest rate auction system does not necessarily establish a transfer for reasonably equivalent value within the meaning of 11 U.S.C....
Judge(s):
Bauer, Williams, and Hamilton
Tag(s):

Frederick J. Grede v. Bank of New York Mellon Corp. and Bank of New York (In re Sentinel Management Group, Inc.)

Citation:
Grede v. Bank of New York Mellon Corp., et al. (In re Sentinal Mgmt. Group, Inc.), Case No. 15-1039 (7th Cir. January 8, 2016).
Ruling:
When a transferee is on “inquiry notice,” it has a duty to make further investigations into the facts surrounding a transfer to it and the failure to make such investigations renders its...
Judge(s):
Posner, Easterbrook, Rovner (Posner)
Tag(s):

Brown v. UAL Corporation (In re UAL Corporation, et al.)

Citation:
Brown v. UAL Corporation, et al., Court of Appeals, 7th Circuit 2015 (unpublished)
Ruling:
A bankruptcy court does not abuse its discretion in refusing to reopen a Chapter 11 case when an unsecured creditor moves to reopen the case in order to pursue state-law claims but has otherwise...
Judge(s):
Bauer, Posner, Hamilton
Tag(s):

Caesars Entertainment Operating Co., Inc., et al. v. Bokf, N.A., et al. (In re Caesars Entertainment Operating Co., Inc.)

Citation:
Caesers Entm’t Operating Co., Inc. v. BOKF, N.A., et al. (In re Caesers Entm’t Operating Co., Inc.), Case No. 15-3259 (7th Cir. December 23, 2015).
Ruling:
Bankruptcy Code section 105(a) gives bankruptcy courts extensive equitable powers to enter orders that are appropriate to carry out the provisions of the Bankruptcy Code and whether a given order...
Judge(s):
Posner, Manion, Sykes (Posner)
Tag(s):

Leeb v. Nationwide Credit Corp.

Citation:
No. 14-1329, Appeal from ND IL ED No.1:12-cv-913
Ruling:
The 7th Circuit confirmed the ruling of the District Court granting Summary Judgment in favor of the Appellee and against Appellant. The Court ruled that Nationwide's letter to Leeb, even after he...
Judge(s):
Easterbrook, Manion, and Williams
Tag(s):

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