January 06, 2023
Ninth Circuit Says: A Sale Order Can’t Alter the Terms of the Contract
A surprising opinion by the Ninth Circuit was nonprecedential.
9th CircuitJanuary 04, 2023
It Wasn’t a Good Idea for 3M Corp. to Call Its Multidistrict Litigation a ‘Failure’
District judge remonstrates a solvent parent company for seeking the protections of bankruptcy without filing chapter 11 itself.
11th Circuit, Florida, Florida Northern DistrictDecember 21, 2022
Failure to Exercise a Purchase Option Is Not a Transfer, Third Circuit Says
The failure to convert a contingent interest into ownership is not a transfer that could be avoided as a fraudulent transfer.
3rd CircuitDecember 06, 2022
The Ninth Circuit BAP Revisits the First Semester of Law School Contracts
Agreement on the price and nothing else short of an enforceable contract.
9th CircuitDecember 01, 2022
The Bankruptcy Code Doesn’t Invalidate Transfer Restrictions in an Operating Agreement
The transfer restrictions in an LLC’s operating agreement are enforceable in a bankruptcy sale, the Tenth Circuit BAP says.
10th CircuitNovember 22, 2022
Chapter 7 Estate Takes Post-Petition Appreciation on Conversion from Chapter 13
Joining the ‘slight minority,’ Judge Fenimore rules that post-petition appreciation in the value of a homestead goes to the chapter 7 estate when the chapter 13 case converts.
8th Circuit, Missouri, Missouri Western DistrictNovember 08, 2022
Claiming ‘100% of FMV,' Debtors Keep Postpetition Appreciation in Exempt Assets
Ninth Circuit BAP interprets Taylor and Schwab to mean that a trustee cannot revisit the value of an exempt asset if the debtor claimed ‘100% of FMV’ and there was no timely objection.
9th CircuitOctober 27, 2022
Fifth Circuit Interprets Section 363(m) More Broadly than Other Circuits
Anything that is ‘integrally related’ to a sale is moot in the Fifth Circuit, according to a New Orleans district judge.
5th Circuit, Louisiana, Louisiana Eastern DistrictOctober 21, 2022
Second Circuit Says Orderly Liquidation Value Is Proper for a Retailer in Chapter 11
The Second Circuit adapts Rash to value the lender’s collateral in chapter 11 where there was a going-concern sale.
2nd CircuitOctober 06, 2022
Property Held in a Joint Tenancy Leaves the Estate on the Debtor’s Death
If a debtor owns property as a joint tenant with right of survivorship, the trustee has nothing to sell if the debtor dies.
7th Circuit, Illinois, Illinois Northern District