October 13, 2020
Supreme Court Hears Argument in Fulton: Is Inaction an Automatic Stay Violation?
Supreme Court to resolve a circuit split by deciding whether a change in the status quo must occur before the automatic stay is violated.
Supreme CourtOctober 07, 2020
‘Fair Ground of Doubt’ Under Taggart Isn’t Shown by Intending to Overturn Precedent
The contemnor shoulders the burden of showing ‘uncertainty’ under the Taggart standard for contempt, Judge Barnes says.
10th Circuit, ColoradoOctober 06, 2020
First Circuit Won’t Allow a Lien to Be Waived by Implication
Foreclosing on cash doesn’t moot an appeal from the order modifying the automatic stay as to cash.
1st CircuitSeptember 29, 2020
Surety Bonds Aren’t Executory Contracts and Can’t Be Assumed Even if They Are
Insurance companies must nail down the treatment of performance bonds before plan confirmation.
5th Circuit, LouisianaSeptember 28, 2020
Second Circuit Upholds the Madoff Trustee’s Calculation of Fraudulent Transfer Claims
Fictitious profits in account statements don’t represent ‘value’ and give rise to a defense for receipt of a fraudulent transfer with ‘actual intent,’ the Second Circuit rules.
2nd CircuitSeptember 23, 2020
A Liquidating Plan Doesn’t Automatically Pass the Best Interests Test, BAP Says
Findings of fact to show satisfaction of the best interests test ordinarily should be numerical comparisons, Ninth Circuit BAP Says
9th CircuitSeptember 22, 2020
‘No Harm, No Foul’ Doesn’t Entitle a Debtor to a Discharge, BAP Says
Advice-of-counsel defense doesn’t work when intent is clearly fraudulent.
10th CircuitSeptember 21, 2020
Michigan Judge Prefers Dismissal if Conversion Won’t Benefit Unsecured Creditors
The parties judged the chapter 11 case a success, even though unsecured creditors got zilch.
6th Circuit, Michigan, Michigan Western DistrictSeptember 18, 2020
Ninth Circuit Reiterates Its Idiosyncratic Recoupment Standard
Ninth Circuit abjures bright lines in favor of a flexible approach to defining recoupment.
9th CircuitSeptember 16, 2020
A Credit Bid Doesn’t Cap the Value of a Secured Lender’s Collateral
Delaware district judge holds that the final bid at auction, not the lender’s last credit bid, fixes the value of the lender’s collateral.
3rd Circuit, Delaware