September 15, 2017
Reperfecting a Mortgage Isn’t Grounds for a Fraudulent Transfer
Mistakenly cancelling a mortgage can result in a preference but not a fraudulent transfer if the cancellation is later rescinded.
7th Circuit, Illinois, Illinois Northern DistrictSeptember 14, 2017
Third-Party Releases Approved Without Awaiting the Outcome of Merit Management
Third-party releases would have been approved even if there were no ‘safe harbor’ defense.
3rd Circuit, Pennsylvania, Pennsylvania Western DistrictSeptember 13, 2017
Transferring COMI to Avoid Liquidation Is Ok in Chapter 15
New York offers a chapter 15 home for foreign companies hoping to avoid liquidation.
2nd Circuit, New York, New York Southern DistrictSeptember 12, 2017
Emotional Distress Damages Awarded for Civil Contempt on Automatic Stay Violation
Philadelphia judge socks the city’s parking authority for impounding a debtor’s car twice.
3rd Circuit, Pennsylvania, Pennsylvania Eastern DistrictSeptember 11, 2017
Receivership May Not Preclude a Board’s Ability to File Bankruptcy
A receiver who is not ‘disinterested’ can justify putting a company in bankruptcy.
3rd Circuit, Pennsylvania, Pennsylvania Western DistrictSeptember 08, 2017
PROMESA Didn’t Enjoin Damages Suit Against Puerto Rico Government Official
Courts are reluctant to employ PROMESA as a shield against suits involving government administration.
1st Circuit, Puerto RicoSeptember 07, 2017
Reversing Itself, Fifth Circuit Panel Reinstates Finality to Exemptions in Chapter 7
After rehearing, the Fifth Circuit rediscovers the snapshot rule by giving finality to exemptions in chapter 7.
5th CircuitSeptember 06, 2017
Courts Can’t Sanction Debt Collectors for Filing Stale Claims after Midland Funding
The Code or rules must change to bar debt collectors from filing stale claims, Judge Dow says.
8th Circuit, Missouri, Missouri Western DistrictSeptember 05, 2017
Ninth Circuit Splits with Seventh on Sovereign Immunity and Derivative Suits by a Trustee
Ninth Circuit criticizes the Seventh for making the sovereign immunity waiver meaningless for Section 544(b)(1) suits.
9th CircuitSeptember 01, 2017
Fourth Circuit Conflicts with the Fifth on Loss of Chapter 7 Exemptions after Filing
Even if an exemption is lost after filing, a Code provision must bring property into the estate, Fourth Circuit holds.
4th Circuit, Maryland