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Harkey v. Grobstein (In the Matter of Point Center Financial, Inc.)

Summarized by Thomas Phinney , Felderstein Fitzgerald Willoughby Pascuzzi & Rios LLP
7 years 10 months ago

Citation:: 16-56321 (9th Circuit, May 29,2018) Published
Case Status:: Reversed and Remanded

Ruling:

The 9th Circuit reversed the district court’s dismissal for lack of standing of an appeal from a bankruptcy court order that authorized a Chapter 7 trustee to assume an executory contract, where...

Judge(s):

A. Wallace Tashima and Marsha S. Berzon, Circuit Judges, and Matthew F. Kennelly, District Judge

Tag(s):

Brown v. Barclay

Summarized by Lars Fuller , BakerHostetler
7 years 10 months ago

Citation:: BAP No. SC-17-1068-AKuS (9th Circuit, May 21,2018) Not Published
Case Status:: Affirmed

Ruling:

BAP for 9th Circuit affirmed summary judgment entered by bankruptcy court (SD Cal.) in favor of plaintiff-chapter 7 trustee avoiding debtor's postpetition transfer of inheritance proceeds to his...

Judge(s):

Alston, Kurtz, Spraker

Tag(s):

Franchise Services of N.A., Inc. v. U.S. Trustee

Summarized by Lars Fuller , BakerHostetler
7 years 10 months ago

Citation:: No. 18-60093 (5th Circuit, May 22,2018) Published
Case Status:: Affirmed

Ruling:

Fifth Circuit affirmed bankruptcy court (SD Miss) on direct appeal of order dismissing chapter 11 case based on failure to obtain shareholder consent for bankruptcy. Federal law does not prevent...

Judge(s):

King, Jones, Graves

Tag(s):

No v. Gorman

Summarized by Steven Mulligan , Coan, Payton & Payne, LLC
7 years 10 months ago

Citation:: 17-1679 (4th Circuit, May 24,2018) Published
Case Status:: Reversed and Remanded

Ruling:

A local rule of bankruptcy procedure that is inconsistent with the Bankruptcy Code is invalid.

Judge(s):

Duncan, Agee, Shedd (Duncan)

Tag(s):

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Debtor Awarded Almost $2.7 Million in Damages for a Usurious Merchant Cash Advance
Merchant cash advances carried effective annual percentage rates of 427.9% and 348.3%.
In a Surplus Chapter 11 Estate, Trustee Commissions Aren’t Based on Equity Distributions
In a nonprecedential opinion, the Fifth Circuit concludes that a chapter 7 trustee’s commissions are not based on distributions to equity holders, even when creditors are paid in full.
In a Surplus Chapter 11 Estate, Trustee Commissions Are Based on Distributions to Equity
The prohibition in Section 326(a) to calculating a chapter 11 trustee’s commission on distributions to the debtor does not apply when creditors are paid in full and a distribution goes to equity security holders.
Sometimes, a Debtor May Claim an Exemption in Fraudulently Transferred Property
The Section 522(g) preclusion of an exemption on fraudulently transferred property only applies if the trustee recovers the property.
Second Circuit Finds No Loopholes in Grupo Mexicano to Freeze Assets
When the plaintiff has only a claim for money damages and no claim to recover particular assets, a prejudgment asset freeze is impermissible following Grupo Mexicano.

Lars Fuller
BakerHostetler
Cases Summarized 262
Bradley Pearce
Pearce Law PLLC
Cases Summarized 242
Amir Shachmurove
Brown Rudnick LLP
Cases Summarized 175
David Treacy
U.S. Bankruptcy Court, Eastern District of Kentucky
Cases Summarized 109
Joel Newell
Ballard Spahr, LLP
Cases Summarized 98

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