June 12, 2017

Circuits Split on Enjoining the IRS from Pursuing Corporate Officer to Collect Taxes

Puerto Rico judge sides with the Third Circuit by upholding the Anti-Injunction Act in bankruptcy cases.

1st Circuit, Puerto Rico

June 12, 2017

Narrow Ipso Facto Clauses Can Be Unenforceable

Code provisions voiding ipso facto clauses are interpreted broadly.

6th Circuit, Michigan, Michigan Eastern District

June 09, 2017

Dubious Opinion Says Automatic Stay Inapplicable to Setoff Against Exempt Property

District judge refuses to give automatic stay protection to a tax evader.

6th Circuit, Michigan, Michigan Eastern District

June 07, 2017

Retention of Jurisdiction by Itself Does Not Confer Subject Matter Jurisdiction, Circuit Holds

First Circuit narrowly interprets ‘arising in’ jurisdiction.

1st Circuit

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

June 05, 2017

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