June 05, 2017

Fictitious Profits Are Also Ignored on Inter-Account Transfers, Second Circuit Says

Madoff trustee’s newest appellate victory again disregards fictitious profits.

2nd Circuit

Bankruptcy Judge Rejects Equitable Defenses to Fraudulent Transfer Claim

Madoff trustee racks up two victories in one day.

2nd Circuit, New York, New York Southern District

June 02, 2017

New York’s Unique Rules on Mortgage Note Assignments Remain Unresolved

New York alone failed to adopt an amendment to UCC § 3-203.

2nd Circuit

May 31, 2017

Class Claim Allowed to Deter Incorrect Business Practice

Consummating a plan demonstrated that a class claim did not prejudice case administration.

May 30, 2017

Cramdown Value Is Not the Higher of Foreclosure or Replacement Value, Ninth Circuit Holds

En banc, the Ninth Circuit reverses a panel opinion from last year on cramdown valuation.

9th Circuit

May 26, 2017

Even Without the One-Day-Late Rule, Tax Liability Still Wasn’t Discharged

A tax return late by three years wasn’t ‘honest and reasonable.’

9th Circuit, California, California Northern District

May 25, 2017

Interest on Unsecured Claims Not Required in 100% Chapter 13 Plan

‘Value’ doesn’t mean ‘present value’ in Section 1325(b)(1)(A).

May 24, 2017

Bankruptcy Judge Finds Jurisdiction over Nationwide Class Challenging Bogus Claims

Class suit in Texas attacks the filing of bogus claims.

5th Circuit, Texas, Texas Southern District

Bankruptcy Judge Finds Jurisdiction over Nationwide Class Challenging Stale Claims

Suit in Texas attacks the filing of stale claims permitted by Midland Funding.

May 19, 2017

Lump-Sum Child Support Claim Disallowed when Debtor Was Current

‘Relationship test’ bolsters Texas judge in disallowing claim for child support.

5th Circuit, Texas, Texas Western District