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Although there wasn’t ‘good cause’ to excuse late service of a summons and complaint, the bankruptcy court salvaged a large preference by exercising discretion and granting a 10-day expansion of the 90-day deadline.
If state law prohibits assertion of the homestead exemption in tax foreclosure and the debtor can’t take federal exemptions, does the debtor lack standing to set aside a fraudulent transfer?
Bankruptcy courts in New York and Delaware believe that Purdue did not change the law and that nondebtor releases and exculpations are still permissible in chapter 15 cases.
Although lower courts have disagreed, the Second Circuit joined three other circuits in holding that a standing trustee may not retain the percentage fee when chapter 13 cases are dismissed before confirmation. Consequently, ‘13’ debtors with confirmed plans pay standing trustees’ fees.
Following the Supreme Court’s Morgan v. Sundance, the appeals court interpreted an arbitration agreement like any other contract, with no policy favoring arbitration over litigation.
Because all affected creditors were unanimous in support, Judge Michael Wiles didn’t agonize over whether the debtor actually had its center of main interests in the U.K.
