December 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 26, 2019
Divided Fifth Circuit Again Permits Third-Party Injunctions in Stanford Receivership
Fifth Circuit should decide en banc whether nondebtor releases are permissible in receiverships but not in bankruptcy cases.
5th CircuitDecember 23, 2019
Third Circuit Finds Constitutional Power to Grant Releases in Confirmation Orders
Third Circuit emphasizes the limitation of nonconsensual, third-party releases to ‘exceptional’ cases.
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 10, 2019
Opting Out Won’t Justify Imposing Third-Party Releases, Delaware Judge Says
Saying she is in the minority in her district, a new Delaware judge ruled that allowing creditors to opt out won’t permit a plan to impose nonconsensual, third-party releases.
3rd Circuit, DelawareDecember 09, 2019
Mortgage Servicer Blew the Statute of Limitations, Judge Grossman Says
New York intermediate appellate courts are split on critical questions about the ‘start date’ for the statute of limitations on mortgage foreclosure.
2nd Circuit, New York, New York Eastern DistrictDecember 06, 2019
Seventh Circuit Limits Punitive Damages to Total Compensatory Damages of $582,000
Despite atrocious mortgage servicing, the circuit court cut a jury’s $3 million award of punitive damages to $582,000.
7th CircuitDecember 05, 2019
The Supreme Court May Duck a Case Involving Federal Common Law vs. State Law
At oral argument, the justices seemed to recognize that Rodriguez v. FDIC does not raise the question of whether the lower courts relied on federal common law in deciding the ownership of a tax refund.
Supreme Court