September 18, 2020
Ninth Circuit Reiterates Its Idiosyncratic Recoupment Standard
Ninth Circuit abjures bright lines in favor of a flexible approach to defining recoupment.
9th CircuitSeptember 17, 2020
District’s Model Chapter 13 Plan Violates the Code by Requiring More than 60 Payments
Detroit’s Judge Randon holds that a chapter 13 plan’s five-year duration begins to run from the first payment, not from confirmation.
6th Circuit, Michigan, Michigan Eastern DistrictSeptember 16, 2020
A Credit Bid Doesn’t Cap the Value of a Secured Lender’s Collateral
Delaware district judge holds that the final bid at auction, not the lender’s last credit bid, fixes the value of the lender’s collateral.
3rd Circuit, DelawareSeptember 15, 2020
New York Judge Nixes $2.45 Billion in DIP Financing as a Sub Rosa Plan
Even though the price and terms were ‘entirely fair,’ Bankruptcy Judge Garrity disapproved DIP financing that would have locked in the right of controlling shareholders to purchase new stock at a 20% discount.
2nd Circuit, New York, New York Southern DistrictSeptember 14, 2020
University Medical Unscathed After Denby-Peterson, Delaware District Judge Says
The government lost a winnable appeal by failing to present evidence in bankruptcy court.
3rd Circuit, DelawareSeptember 11, 2020
Rejection Didn’t Rescind Sale of Future Credit Card Receivables, New York Judge Says
Bankruptcy Judge Glenn hints that the lenders and the debtor should mediate tough questions about the enforceability of a $150 million ‘sale’ of future credit card receivables.
2nd Circuit, New York, New York Southern DistrictSeptember 10, 2020
Student Loan Servicer Sanctioned $378,000 for Civil Contempt by New York Judge
Bankruptcy Judge Martin Glenn imposed civil contempt sanctions for ignoring court orders over five years.
2nd Circuit, New York, New York Southern DistrictSeptember 09, 2020
Undisclosed Fee Sharing Results in Disqualification and Disgorgement in Delaware
Since they weren’t bankruptcy lawyers, the firm wasn’t disqualified for the first nondisclosure offense. The second time, Delaware’s Judge Dorsey ordered disqualification and disgorgement
3rd Circuit, DelawareSeptember 08, 2020
Ninth Circuit: Government Doesn’t Pay Counsel Fees on Reversal of Sua Sponte Actions
Will there be occasions where the government must pay a debtor’s counsel’s fees when a U.S. Trustee unsuccessfully opposes a debtor’s initiative?
9th CircuitSeptember 04, 2020
Not All Student Loans Are Nondischargeable, Tenth Circuit Holds
Tenth Circuit joins the Fifth Circuit by holding that student loans are not ‘educational benefits’ under Section 523(a)(8)(A)(ii).
10th Circuit