Avoidance under 11 U.S.C. § 724(a) of the portion of a tax lien for penalties does not alter the priority of the amount of the tax authority's unavoided lien claim against the proceeds of the...
Judge(s):
Susan P. Graber, Roopali H. Desai, and Ana de Alba, Circuit Judges
The Second Circuit Court of Appeals affirmed the bankruptcy court’s decision, finding that the trustee’s recovery of a portion of the proceeds from the debtor’s unauthorized post-petition...
Summarized by Stephen Falanga , Walsh Pizzi O'Reilly Falanga LLP
11 years 1 month ago
Citation:
2015 U.S. App. LEXIS 859 (2nd Cir. Jan. 21, 2015)
Ruling:
A secured party's authorization to file a UCC-3 termination statement of a UCC-1 Financing Statement filed under the Article 9 of the Uniform Commercial Code (UCC) is all that is required to...
United States Court of Appeals for the First Circuit, No. 13-9002 (May 23, 2014)
Ruling:
Reversing the lower courts, the First Circuit concluded that when an undefaulted mortgage lien is avoided and preserved for the benefit of the Estate under Code sec. 551, and when the value of the...
