May 11, 2020
Second Circuit Rides to the Rescue of a GM Lawyer Who Made a Big Mistake
A mistake by a lawyer isn’t “deliberate” and therefore can’t be a judicial admission.
2nd CircuitMay 08, 2020
Tenth Circuit Applies Equitable Mootness to Appeals from Liquidating Chapter 11 Plans
Circuit says that some factors are more important than others when applying equitable mootness to appeals from liquidating plans.
10th CircuitMay 07, 2020
Executory Contract Was Deemed Rejected Even Though Not Scheduled as Executory
For the Eleventh Circuit, scheduling the unsecured claim resulted in automatic rejection even though the contract was not scheduled as executory.
11th CircuitMay 06, 2020
May a Bankruptcy Court Annul the Automatic Stay after Acevedo?
Bankruptcy Judge Grossman explores the extent to which the Supreme Court’s Acevedo decision bars courts from granting relief retroactively.
2nd Circuit, New York, New York Eastern DistrictMay 05, 2020
Two More Judges Rule that Chapter 11 Debtors Are Eligible for PPP Loans
Judge Thuma of Albuquerque threatens the SBA with punitive damages if the debtor is not granted a $900,000 PPP loan.
10th Circuit, New MexicoMay 04, 2020
Split Ninth Circuit Permits Extending a Statutory Deadline After It Expires
Majority on Ninth Circuit panel believe that having previously extended a deadline allowed the invocation of “excusable neglect” to extend the deadline again after it expired.
9th CircuitMay 01, 2020
Houston Judge Enjoins SBA from Excluding Bankrupt Companies from PPP Loans
Judge David Jones found no basis in the Cares Act for precluding chapter 11 debtors from receiving PPP “loans” that the company isn’t required to repay.
5th Circuit, Texas, Texas Southern DistrictApril 30, 2020
Currently Conducting Business Isn’t Required to Qualify for the SBRA
Dealing with the debt left over from a defunct business is enough to qualify as a small business debtor under the new subchapter V of chapter 11, Judge Burris rules.
4th Circuit, South CarolinaApril 29, 2020
Madoff Trustee Granted Another Direct Appeal to the Second Circuit
Overturning District Judge Rakoff a second time will aid the Madoff trustee’s quest to recover 100% of defrauded customers’ net equity claims.
2nd CircuitApril 28, 2020
Two-Year Statute for Avoidance Actions Doesn’t Apply to Claim Objections
Even if the two-year statute of limitations for avoidance actions has run, the trustee can still strip away the lender’s secured status in a claim objection.
11th Circuit, Georgia, Georgia Northern District