January 02, 2020
PACA Doesn’t Give Rise to Denial of Discharge for Defalcation, Chicago Judge Says
A PACA trust lacks the hallmarks of a trust, so a failure to pay a produce supplier doesn’t give rise to a nondischargeable debt for defalcation while acting in a fiduciary capacity, Judge Goldgar says.
7th Circuit, Illinois, Illinois Northern DistrictDecember 30, 2019
Third Circuit Issues an Important Decision on Liquidation of Repo ‘Credit Enhancements’
Appeals court upholds finding that the mortgage securities market in 2007 was declining, not dysfunctional.
3rd CircuitDecember 26, 2019
The Texas UFTA Has No ‘Futility Defense’ When a Transferee Is on Inquiry Notice
The Texas UFTA Has No ‘Futility Defense’ When a Transferee Is on Inquiry Notice
5th CircuitDecember 26, 2019
Divided Fifth Circuit Again Permits Third-Party Injunctions in Stanford Receivership
Fifth Circuit should decide en banc whether nondebtor releases are permissible in receiverships but not in bankruptcy cases.
5th CircuitDecember 23, 2019
Third Circuit Finds Constitutional Power to Grant Releases in Confirmation Orders
Third Circuit emphasizes the limitation of nonconsensual, third-party releases to ‘exceptional’ cases.
3rd CircuitDecember 20, 2019
Treasury Offset Program Can’t Be Used After Bankruptcy, District Judge Says
Now on the district court bench, then-Bankruptcy Judge Frank Volk was upheld in a tricky case involving the government’s right of setoff.
4th Circuit, West Virginia, West Virginia Southern DistrictDecember 19, 2019
Supreme Court Grants ‘Cert’ to Decide Whether Inaction Violates the Automatic Stay
Virginia case highlights the damage that will be done to debtor protections if affirmative action is required for a stay violation.
4th Circuit, Virginia, Virginia Eastern DistrictDecember 18, 2019
Even a $3 Million Claim for Severance Is Exempt in Illinois as Wages, Easterbrook Says
Pleas to injustice and unfairness failed to persuade the Seventh Circuit to depart from a state law exemption for wages.
7th CircuitDecember 17, 2019
An Inherited IRA Can Be Exempt Under State Law When It’s Not in Section 522(b)(3)(C)
A divided Rhode Island Supreme Court ruled that an inherited IRA, not exempt under federal law, is exempt under state law.
1st Circuit, Rhode IslandDecember 16, 2019
Sixth Circuit Gives Primacy to the Bankruptcy Court in Rejecting Power Contracts
Over a dissent, the Sixth Circuit holds that FERC may offer its opinion but may not bar a bankruptcy court from rejecting a power purchase agreement after considering the public interest.
6th Circuit