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A local government removed a lawsuit to bankruptcy court, but the bankruptcy judge turned around and slam-dunked the government for violating the plaintiff’s Fourteenth Amendment rights.
Bankruptcy Judge Sean Lane in New York barred a chapter 11 claims agent from selling the claims docket to a claims trader in return for a share of the fees earned by the trader.
Reversing the bankruptcy court, a district judge ruled that a company may file in chapter 7 even when there are no operations and no assets aside from insurance.
Reversing, a Long Island district judge credits value to a homeowner’s ability to delay foreclosure, taking a position contrary to a recent decision from a Ninth Circuit B.A.P.
Circuit courts are split 4/3 on their interpretation of Supreme Court precedent holding that regularly conducted mortgage foreclosures are immune from fraudulent transfer attack.
