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ABI Journal

July 02, 2019

Third Circuit Expands the Flexible Notion of ‘Finality’ on Bankruptcy Appeals

The Third Circuit’s new opinion on ‘finality’ will be cast in doubt depending on how the Supreme Court rules in Ritzen.

3rd Circuit

June 28, 2019

LLC Managers Cannot Jettison Duties of Good Faith and Fair Dealing

Arizona Supreme Court allows LLCs to sue managers and members for violation of fiduciary duties.

June 26, 2019

First Circuit Nixes Another Attempt at Unraveling Puerto Rico’s Debt Arrangement

The logical court to challenge the constitutionality of PROMESA isn’t the PROMESA court itself.

1st Circuit

June 25, 2019

Intercreditor Agreement Didn’t Apply to Plan Distributions, Third Circuit Holds

The Third Circuit wrote an important decision on distributing collateral under an intercreditor agreement, but it wasn’t precedential.

3rd Circuit

June 24, 2019

Failure to Appeal Confirmation Bars Claims to Estate Property, Fifth Circuit Holds

A plan’s declaration that disputed property belongs to the debtor’s estate must be challenged before confirmation becomes final.

5th Circuit

June 21, 2019

Seventh Circuit Solidifies a Circuit Split on the Automatic Stay

Disagreeing with the Tenth and D.C. Circuits and siding with four other circuits, the Seventh Circuit rules that passively holding estate property violates the automatic stay.

7th Circuit

June 20, 2019

Receiver’s Settlement Powers Aren’t Greater than a Bankruptcy Trustee’s, Circuit Says

Fifth Circuit overturns a settlement that barred officers and directors from accessing insurance policies.

5th Circuit

June 18, 2019

Failure to Petition the Circuit Court for a Direct Appeal Requires Dismissal

Overruling its own precedent, the Seventh Circuit dismissed an appeal when the appellant had not filed a motion in the appeals court for permission to undertake a direct appeal, even though the bankruptcy court had certified the question to the circuit.

7th Circuit

June 17, 2019

An Order Directing Specific Performance Means the Contract Is Not Executory

Idaho’s Judge Myers rules that an order directing specific performance is not a transfer and cannot be a preference.

9th Circuit, Montana

June 13, 2019

A Nonparty’s Bankruptcy Isn’t Providing Ground for Removal to Federal Court

The right of indemnification by a bankrupt isn’t establishing ‘related to’ jurisdiction in federal court.

3rd Circuit, Pennsylvania, Pennsylvania Eastern District