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ABI Journal

541

Deal-Breaker Documents

Bankruptcy Code

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Avoidance Actions Update

Bankruptcy Code

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The Time Has Come to Reconsider Whether Trustees Are Subject to In Pari Delicto

Bound by circuit precedent, the Eighth Circuit held that a prior receivership does not cleanse the bankruptcy estate of the in pari delicto defense.

A Lender Can’t Have a Lien on Avoidance Actions, Judge Thad Collins Says

The Eighth Circuit had held that a debtor has an ‘inchoate’ property interest in avoidance actions before bankruptcy, but Judge Collins ruled that a lender can’t have a lien.