April 27, 2020
New York Bankruptcy Judge Declines to Follow Enron Decision by SDNY District Judge
Claims traders are put on notice: Purchasing a claim doesn’t insulate the buyer from disallowance under Section 502(d).
2nd Circuit, New York, New York Southern DistrictApril 24, 2020
‘Triggering’ Creditor’s Claim Need Not Be Static Under Section 544(b)(1)
Judge Isgur applies heightened pleading standard to a complaint for fraudulent transfer with actual intent.
5th Circuit, Texas, Texas Northern DistrictApril 23, 2020
Chapter 13 Debtor Can’t Keep Postpetition Appreciation in Value of Stock Options
Two recent decisions by the 9th Circuit BAP seem in conflict on a chapter 13 debtor’s ability to retain appreciation in the value of assets.
9th CircuitApril 22, 2020
‘Chevron’ Deference Applied to Decisions by the Puerto Rico Oversight Board
District court invalidates expenditures adopted by the Puerto Rico legislature that were not approved by the PROMESA Oversight Board.
1st Circuit, Puerto RicoApril 21, 2020
Justices Postpone Argument in Fulton until the Supreme Court’s Next Term
Supreme Court won’t decide until late this year or early 2021 whether the automatic stay requires creditors to turn over repossessed property without a turnover action.
Supreme CourtApril 21, 2020
As an In Personam Claim, a Preference Can Be Barred by Discharge, Denver Judge Says
An IRA is not a legal entity separate from its owner, according to Bankruptcy Judge Elizabeth E. Brown of Denver
10th Circuit, ColoradoApril 20, 2020
Courts Must Rule on ‘Comfort Orders’ When Requested, BAP Says
ABI Consumer Commission recommended that ‘comfort orders’ be obtained through motion practice, not adversary proceedings.
9th CircuitApril 17, 2020
Cashier’s Checks and Ordinary Checks Are Treated the Same Under Barnhill
The UCC and Barnhill are in accord when it comes to ownership of funds underlying an unpaid check.
10th Circuit, Oklahoma, Oklahoma Western DistrictApril 16, 2020
2% of Increased U.S. Trustee Fees Held Unconstitutional
Florida judge largely agrees with a Delaware judge by holding that the increase in fees for the U.S. Trustee program is neither impermissibly retroactive nor unconstitutional, mostly speaking.
11th Circuit, Florida, Florida Southern DistrictApril 15, 2020
Solicitor General Sides with the Madoff Trustee on Suing Foreign Subsequent Transferees
Denying ‘cert’ will aid the Madoff trustee’s quest to recover 100% of defrauded customers’ net equity claims.
2nd Circuit