September 23, 2019

Circuit Finds No Successor Liability from Buying Assets and Continuing the Business

Continuing the business after buying the assets from the lender at a foreclosure sale doesn’t bring successor liability.

8th Circuit

September 16, 2019

Seventh Circuit Splits with the First Circuit on Sufficiency of Financing Statements

Seventh Circuit holds that a financing statement is sufficient if it describes collateral by reference to an unattached security agreement.

7th Circuit

July 31, 2019

Losing Competitive Advantage Doesn’t Justify Redacting a Settlement Agreement

Judge Garrity in New York adopts a narrow view of ‘commercial information’ that may be redacted in a court filing.

2nd Circuit, New York, New York Southern District

July 24, 2019

Veto Right Made All Directors Liable for Bad Decisions by a Few Directors

Business judgment rule failed to protect directors of a Georgia bank for approving bad loans.

11th Circuit

July 17, 2019

Equitable Factors Result in Disallowance of Default Interest on a Fully Secured Claim

Caselaw on disallowance of default interest is “murky,” Chief Judge Norton says.

8th Circuit, Missouri, Missouri Western District

July 16, 2019

Liquidation Value Required in a Chapter 12 Cramdown

Idaho judge seems to disagree with the Second Circuit’s ruling that a chapter 12 debtor can surrender less than all of the collateral to confirm a plan.

9th Circuit, Idaho

July 10, 2019

Surety Beats Out the Bank in a Tussle over Retainage in a Construction Contract

Mississippi’s Judge Samson writes a treatise on the priorities between a secured lender and the provider of a payment and performance bond.

5th Circuit, Mississippi, Mississippi Southern District

June 03, 2019

FDCPA Plaintiffs Aren’t Required to Plead the Debt Collector’s Knowledge of Bankruptcy

A debtor collector’s knowledge or intent aren’t elements of a claim under the FDCPA.

6th Circuit, Ohio, Ohio Northern District

May 29, 2019

Fourth Circuit Eliminates a Split on Modifying Short Term Mortgages in Chapter 13

Joining two other circuits, the Fourth Circuit now permits a chapter 13 debtor to strip down a short term home mortgage to the value of the property.

4th Circuit

May 22, 2019

‘Earmarking’ Only Applies When a Debtor Receives a Loan from a Third Party

Money taken from a debtor’s own retirement account to pay a creditor does not qualify for the earmarking defense, Chief Judge Fehling says.

3rd Circuit, Pennsylvania, Pennsylvania Eastern District