June 16, 2023

Supreme Court: The Bankruptcy Code Waived Tribes’ Sovereign Immunity

The Supreme Court resolved a split of circuits in an opinion that could give support to the notion that arbitration agreements are not enforceable in bankruptcy.

Supreme Court

June 14, 2023

Debtor’s Counsel Later Can Become Adverse to the Plan’s Liquidating Trust

Bankruptcy Judge Shannon says that the liquidating trust was not debtor’s counsel’s former client.

3rd Circuit, Delaware

June 13, 2023

J&J, Redux: Bankruptcy Court Dismissed 3M Subsidiary’s Chapter 11 Case

Indianapolis Bankruptcy Judge Jeffrey Graham says that the bankruptcy court cannot become “another court of general jurisdiction.”

7th Circuit, Indiana, Indiana Southern District

June 05, 2023

As if by Magic, Section 1412 Transforms an Improper Venue into a Proper Venue

A judge sitting in a proper venue may transfer venue to a district that was improper originally.

6th Circuit, Tennessee, Tennessee Eastern District

June 01, 2023

Courts Split on Plan Amendments Requiring Substantial, Unanticipated Changes

Eighth Circuit BAP ‘at a minimum’ requires substantial changes in financial condition for a debtor to modify a confirmed chapter 12 plan.

8th Circuit

May 31, 2023

Second Circuit Reverses, Reinstates Purdue’s Nondebtor, Third-Party Releases

The concurring opinion, which is really a dissent, urges the Supreme Court to grant certiorari and resolve the split of circuits on nondebtor releases.

2nd Circuit

May 30, 2023

Supreme Court Holds that Real Estate Tax Foreclosures Can Violate the Takings Clause

The high court’s ruling on the Takings Clause also seems to mean that real estate tax foreclosures can be avoided as constructively fraudulent transfers.

Supreme Court

May 26, 2023

Lack of a Common Plan or Scheme Means It Isn’t Single Asset Real Estate

A two-story commercial condominium wasn’t ‘single asset real estate,’ Judge Mastando holds.

2nd Circuit, New York, New York Southern District

May 24, 2023

Find and Fix the Flaws in Appraisals Before They Are Subjected to Cross Examination

An appraisal was rejected entirely as being ‘inherently unreliable’ when it gave the client the value that the client wanted.

9th Circuit, California, California Eastern District

May 23, 2023

Bankruptcy Judges Agree: Later Developments Don’t Undo Subchapter V Eligibility

The $7.5 million debt cap for Subchapter V doesn’t include the debt of affiliates who file later.

4th Circuit, Virginia, Virginia Western District