Rochellel's Daily Wire

April 11, 2016

Mortgages Command Priority over Legal Fees in a Chapter 13 Plan

Plan can’t cause default on a home mortgage to pay a debtor’s lawyer first.

6th Circuit, Michigan, Michigan Eastern District

April 08, 2016

Paid in Full but Impaired, Lender Entitled to Pendency Interest at Default Rate

9th Cir. BAP precludes using ‘equitable discretion’ to lower lender’s interest rate.

9th Circuit

April 07, 2016

Power to Issue Money Judgment for Nondischargeable Debt Survives after Stern

Posner chides bankruptcy judge for reluctance to enter money judgment.

7th Circuit

April 06, 2016

Power of Substantive Consolidation Survives Law v. Siegel

Supreme Court authority is read narrowly to preserve traditional equity powers.

9th Circuit

April 05, 2016

Courts Split on Allowing Creditors to Sue on Claims Covered by D&O Policy

Insured vs. insured exclusion bars suit by creditors, but not by chapter 11 trustee.

6th Circuit, Michigan, Michigan Western District

April 05, 2016

Plan in Suspended Animation when Chapter 13 Case Converted to Chapter 7

Judge ducks ability to reconvert previously converted case to chapter 13.

10th Circuit, New Mexico

April 04, 2016

Using Correspondent U.S. Bank Can Result in Personal Jurisdiction in U.S. Courts

Fleeting passage of money through the U.S. can bestow jurisdiction on U.S. courts.

2nd Circuit, New York, New York Southern District

April 04, 2016

Chicago Judge Splits with Ninth Circuit on Interest for Unsecured Claims in Surplus Plan

Default interest rate given to unsecured creditors in full-payment chapter 11 plan.

7th Circuit, Illinois, Illinois Northern District

April 01, 2016

Circuit Splits Widen on Dischargeability of Tax Debts on Late-Filed Returns

Eleventh Circuit keeps taxpayer on the hook for late-filed tax returns.

11th Circuit

March 31, 2016

Once Property Is Abandoned, Proceeds Belong to Debtor

Judge bends over backward so debtor can keep an $80,000 windfall.

6th Circuit, Ohio, Ohio Southern District