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2nd Circuit

Stripping Down a Mortgage on a Mixed-Use Property Under the SBRA

A New York court allows a chapter 11 case pending for 15 months to redesignate for treatment under the Small Business Reorganization Act.

2nd Circuit
New York
New York Eastern District

Critical Vendor Motion Heads for the Second Circuit

New York district court upholds a typical critical vendor order.

2nd Circuit
New York
New York Southern District

Lawyer for Madoff Customer Slapped with $57,347 Discovery Sanction

Calling the Madoff trustee a liar and basing a discovery motion on facts known to be false resulted in sanctions under Rule 37(a)(5)(B).

2nd Circuit
New York
New York Eastern District

Judge Finds a Workaround to Avoid Using Nunc Pro Tunc Retentions

Judge Grossman finds a way to grant allowances of compensation for services performed before the entry of a retention order.

2nd Circuit
New York
New York Eastern District

To Impair an Exemption, Judicial Lien Must Attach to Property the Debtor Already Owns

A judicial lien may be avoided under Section 522(f) only if the lien attached after the debtor acquired the property.

2nd Circuit

To Avoid U.S. Trustee Fees, Court Liberally Allows Closing a Case After Confirmation

Pending adversary proceedings don’t preclude a finding that the chapter 11 case has been ‘fully administered,’ thus allowing entry of a final decree and cutting off further fees owing to the U.S. Trustee Program.

2nd Circuit
Connecticut

District Court Strictly Enforces ‘Adequate Assurance’ Standards for Shopping Centers

District court reverses and bars Sears from assigning Mall of America lease.

2nd Circuit
New York
New York Southern District

Second Circuit Plugs Another Hole in the Johns-Manville Asbestos Trust

Reinstating a ruling by Bankruptcy Judge Cecelia Morris, the appeals court held that the Manville asbestos trust covers both in rem and in personam claims by ‘future’ claimants against insurers and brokers.

2nd Circuit

Bankruptcy Court Still Has Power to Enter Final Judgments by Default after Wellness

Failure to respond to a well-pleaded complaint implies consent for the bankruptcy court to enter final judgment in an avoidance action, Judge Glenn rules.

2nd Circuit
New York
New York Southern District

May a Chapter 13 Plan Pay a Larger Percentage Toward Student Loans?

Since Congress has made student loans virtually nondischargeable, why can’t a chapter 13 plan discriminate in favor of paying more toward student loans?

2nd Circuit
New York
New York Northern District
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