Rochellel's Daily Wire

October 10, 2023

Consent to a Sale for Less than the Mortgage Debt Doesn’t Waive a Deficiency Claim

A secured lender need not obtain a deficiency judgment to retain a claim against an insurer for a shortfall in a bankruptcy sale, Bankruptcy Judge Grossman says.

2nd Circuit, New York, New York Eastern District

September 29, 2023

Foreign Sovereign Immunity Bars the Madoff Trustee from Recovering $20 Million

A district judge in New York reversed the bankruptcy court, which had held that a Kuwaiti public pension fund was not entitled to sovereign immunity for having engaged in commercial activity.

2nd Circuit, New York, New York Southern District

September 26, 2023

Bankruptcy Judge Stong Penned a Compendium About Eligibility for Subchapter V

Another judge holds that dealing with debt from a defunct business satisfies the eligibility requirement for Subchapter V.

2nd Circuit, New York, New York Eastern District

August 31, 2023

A RICO Case Shows that Final Fee Allowances Don’t Confer Immunity

The RICO suit by Jay Alix Against McKinsey mostly survived a motion to dismiss.

2nd Circuit, New York, New York Southern District

August 15, 2023

Another Article III Judge Won’t Let Bankruptcy Stop Suits Against Nondebtors

The same day the Supreme Court decided to hear Purdue, a district judge on Long Island, N.Y., sent dozens of long-stayed sexual abuse cases back to state court where the debtor is not a named defendant.

2nd Circuit, New York, New York Eastern District

August 11, 2023

Unlike Yesterday’s Story, a Two-Nondebtor Lawsuit Didn’t Have ‘Related To’ Jurisdiction

Unlike the case we reported on yesterday, there was no ‘related to’ jurisdiction because the outcome of a suit between two nondebtors wouldn’t have a direct effect on the bankrupt estate.

2nd Circuit, New York, New York Southern District

August 10, 2023

A Suit Between Two Nondebtors Might Have ‘Related To’ Jurisdiction

There could be ‘related to’ jurisdiction if a lawsuit between nondebtors might reduce claims against the bankrupt estate.

2nd Circuit, New York, New York Southern District

August 07, 2023

Default Rates Imposed Before Filing Must Be Cured to Assume a Loan Agreement

Monetary defaults, including default rates and fees, must be cured before a debtor may assume a loan agreement, New York’s Judge Bentley rules.

2nd Circuit, New York, New York Southern District

July 28, 2023

A Contract to Produce a TV Series Wasn’t a Personal Services Contract

Contracts with corporations aren’t likely to be personal services contracts.

2nd Circuit, New York, New York Southern District

June 29, 2023

Eligibility for Subchapter V Is Liberal, but Not Wide Open

Courts are split on whether the debt providing eligibility for Sub V must have arisen from a business that was active on the filing date.

2nd Circuit, New York, New York Northern District