January 16, 2020
A Chapter 11 Filing Can Extend an Inflexible Closing Date by 60 Days
Filing a chapter 11 petition to obtain an automatic 60-day extension of a closing date is not a bad faith filing, Judge Bernstein says.
2nd Circuit, New York, New York Southern DistrictJanuary 14, 2020
Supreme Court Rules that ‘Unreservedly’ Denying a Lift-Stay Motion Is Appealable
Building on Bullard, the Supreme Court rules unanimously that a lift-stay motion is a “procedural unit” that’s appealable if the bankruptcy court “conclusively” denies the motion.
Supreme CourtJanuary 03, 2020
Holding a Contempt Hearing May Be Ok, but the Remedy Might Violate Automatic Stay
A contempt hearing fell under the ‘criminal’ exception to the automatic stay, but jailing a debtor to coerce payment of a prepetition debt violated the stay, Judge Grossman ruled.
2nd Circuit, New York, New York Eastern 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 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 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 CircuitDecember 12, 2019
Fifth Circuit Creates a Circuit Split on Stay Termination for Repeat Filers
Disagreeing with a decision by the First Circuit last December, the Fifth Circuit rules that the ‘plain language’ in Section 362(c)(3)(A) does not terminate the automatic stay as to estate property 30 days after the second filing within one year.
5th CircuitNovember 20, 2019
A Fugitive’s Civil Bankruptcy Appeal Can Be Dismissed, Sometimes
The ‘fugitive disentitlement doctrine’ does not allow a federal court to dismiss an appeal because of a fugitive’s contempt of a state court order, the First Circuit rules.
1st CircuitNovember 18, 2019
Supreme Court Grapples with ‘Finality’ in Ritzen v. Jackson Masonry
Justices may narrow Bullard by drawing back from the requirement that finality requires a change in the status quo.
Supreme Court