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The Majestic Star Casino, LLC v. Barden Development, Inc. (In re The Majestic Star Casino, LLC)

  • Summarized by John Eggum , Foran Glennon Palandech Ponzi & Rudloff
  • 12 years 10 months ago
Citation:
Nos. 12-3200/3201 (3d Cir., May 21, 2013)
Ruling:
Debtor lacked standing to challenge non-debtor parent/shareholder's revocation of election of S Corp status. Rejecting cases from other circuits, the Third Circuit found that S Corp status is not...
Judge(s):
Ambro, Jordan, and Vanaskie
Tag(s):

Gentile v. DeGiacomo (In re Gentile)

  • Summarized by Nathaniel Hull , Verrill Dana LLP
  • 12 years 11 months ago
Citation:
Gentile v. DeGiacomo (In re Gentile), BAP No. MB 12-071 (1st Cir. BAP, May 20, 2013)
Ruling:
By 2-1 decision, the Panel dismissed the debtors’ appeal of a bankruptcy court order granting the chapter 7 trustee’s motion to sell real estate fully-encumbered by a disputed lien for lack of...
Judge(s):
Lamoutte (dissenting), Kornreich (writing for the majority), and Cabán
Tag(s):

Peoples National Bank, N.A. v. Banterra Bank

  • Summarized by Melissa De Groff , Kroger, Gardis & Regas, LLP
  • 12 years 11 months ago
Citation:
Case No. 12-3079 (7th Cir. May 20, 2013)
Ruling:
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).
Tag(s):

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