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ABI Journal

April 21, 2022

Fifth Circuit Majority Bars Reforming Mortgages in Bankruptcy

In a nonprecedential opinion, the Fifth Circuit suggests that a mortgage that could be reformed in state court cannot be reformed in bankruptcy.

5th Circuit

March 18, 2022

Second Circuit Holds that Debtors Are Properly Barred from Receiving PPP Loans

The first court of appeals to reach the issue decides that the SBA properly interpreted the CARES Act to bar chapter 11 debtors from receiving PPP ‘loans.’

2nd Circuit

December 28, 2021

Delaware Judge Issues Comprehensive Opinion on Makewholes and Unmatured Interest

Split grows on allowance of makewholes and what constitutes disallowed, unmatured interest.

3rd Circuit, Delaware

November 03, 2021

Eleventh Circuit Says Section 363(m) Even Moots Appeals Not Properly Authorized

In a concurrence, Circuit Judge Jordan questions whether rollups are permitted under Eleventh Circuit authority.

11th Circuit

October 18, 2021

Lender Was Lucky to Recover Anything on an Unauthorized $5.2 Million Loan

The bankruptcy court was accorded wide discretion in deciding how to treat a $5.2 million loan that was neither disclosed to nor approved by the bankruptcy court.

11th Circuit, Georgia, Georgia Northern District

September 15, 2021

Appeal from a ‘PPP’ Loan Dismissed as Equitably Moot

Would Section 364(c) validate a “PPP” loan even if an order compelling the SBA to make the loan was reversed on appeal?

9th Circuit, Arizona

August 20, 2021

A Lender Is Entitled to Demand a Change in Management, Fifth Circuit Says

It isn’t duress when a lender threatens to take action that the loan agreement allows, the circuit court says.

5th Circuit

August 16, 2021

A Trustee Can’t Always Avoid and Preserve an Unrecorded Mortgage for the Estate

Here’s an example of how state law prevents bankruptcy law from being uniform throughout the U.S.

1st Circuit

May 11, 2021

Jevic Rises from the Dead to Bar Claims Brought Originally by the Creditors’ Committee

Not having challenged pre-petition liens on time, a chapter 7 trustee was barred from taking over an adversary proceeding initiated by a now-dissolved chapter 11 creditors’ committee.

3rd Circuit, Delaware

February 08, 2021

Texas Legislature Didn’t Succeed in Giving Lien Priority to Oil and Gas Producers

Fifth Circuit says that Oklahoma protected that state’s oil and gas producers while Texas didn’t.

5th Circuit