November 01, 2022
Madoff Fraud Makes More Law: The Safe Harbor’s Application to Foreign Liquidators
District judge holds that the safe harbor in Section 546(e) applies to lawsuits by foreign liquidators aiming to avoid transactions abroad under foreign law.
2nd Circuit, New YorkOctober 31, 2022
‘Economic Unit Approach’ Best Fixes the Size of a ‘Household,’ Judge Larson Says
The IRS and Census methods for determining the size of a ‘household’ undercount or overcount economic realities, judge says.
5th Circuit, Texas, Texas Northern DistrictOctober 28, 2022
Even if Ineligible for Chapter 13, the Debtor Still Has an Absolute Right to Dismiss
The Ninth Circuit BAP interprets circuit authority as giving a chapter 13 debtor the absolute right to dismiss.
9th CircuitOctober 27, 2022
Fifth Circuit Interprets Section 363(m) More Broadly than Other Circuits
Anything that is ‘integrally related’ to a sale is moot in the Fifth Circuit, according to a New Orleans district judge.
5th Circuit, Louisiana, Louisiana Eastern DistrictOctober 26, 2022
Sixth Circuit Holds that Tax Foreclosure Violates the Takings Clause of the Constitution
If tax foreclosures violate the Takings Clause, it stands to reason that they are also fraudulent transfers.
6th CircuitOctober 25, 2022
A ‘Letter Box’ Company Is Denied Foreign Main and Nonmain Recognition in Chapter 15
Being registered, plus having directors and an address, on the Isle of Man wasn’t sufficient to show COMI or an ‘establishment’ justifying recognition under chapter 15.
10th Circuit, Oklahoma, Oklahoma Western DistrictOctober 24, 2022
Judge Grabill Imposes $400,000 in Sanctions for Violation of Confidentiality Order
Subjectively laudable reasons for violating a confidentiality order didn’t absolve the lawyer of sanctions.
5th Circuit, Louisiana, Louisiana Eastern DistrictOctober 21, 2022
Second Circuit Says Orderly Liquidation Value Is Proper for a Retailer in Chapter 11
The Second Circuit adapts Rash to value the lender’s collateral in chapter 11 where there was a going-concern sale.
2nd CircuitOctober 20, 2022
Possibly Dicta, the Fifth Circuit Disallows Make-Wholes
Creating a circuit split, the Fifth Circuit holds that the solvent-debtor exception to the allowance of post-petition interest survived adoption of the Bankruptcy Code.
5th CircuitOctober 19, 2022
It’s Virtually Impossible to Waive Discharge as an Affirmative Defense, Judge Tucker Says
Waiting four years to raise discharge as a defense does not invoke equitable estoppel or laches.
6th Circuit, Michigan, Michigan Eastern District