‘No Harm, No Foul’ Doesn’t Entitle a Debtor to a Discharge, BAP Says
Advice-of-counsel defense doesn’t work when intent is clearly fraudulent.
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Not All Student Loans Are Nondischargeable, Tenth Circuit Holds
Tenth Circuit joins the Fifth Circuit by holding that student loans are not ‘educational benefits’ under Section 523(a)(8)(A)(ii).
Tenth Circuit Panel Splits on a Triangular Preference
Tenth Circuit and its BAP follow the same controlling authority but reach opposite results.
Bankruptcy Court Alone May Decide Whether a Claim Is Estate Property, BAP Says
Bankruptcy Court Alone May Decide Whether a Claim Is Estate Property, BAP Says
Complete Disgorgement Is the Default Sanction for Failure to Disclose a Fee Agreement
Anything less than full disgorgement must be supported by ‘sound reasons’ and ‘solid evidence,’ the Tenth Circuit says.
Judge Romero Explains Why Lenders Can’t Claw Back Retainers Paid by Debtors
The UCC protects retainers in the hands of lawyers from secured lenders bent on glomming their collateral.
Tenth Circuit BAP Says that Section 364(d)(1) Can’t Be Used for Priming Lien in a Plan
In a SARE case, the BAP says that the bankruptcy court cannot deny a lift-stay motion without finding that confirmation is reasonably possible in a reasonable time.
Tenth Circuit Protects Subsequent Recipients of Fraudulent Transfer with a New Defense
In a fraudulent transfer of a contract claim, a subsequent recipient of cash proceeds from the claim has no liability under Section 550(a)(2), according to the Tenth Circuit.
Subchapter V Isn’t Always an Antidote for a Failing Chapter 11 Reorganization
Misconduct in the prior chapter 11 case barred debtors from proceeding as a small business reorganization under subchapter V of chapter 11.
Beware: Closing a Case Quickly Can Preclude Filing New Avoidance Actions
Judge Thuma describes nonstatutory exceptions to the statutes of limitations in Sections 546(a) and 550(f).