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ABI Journal

2nd Circuit

Second Circuit Again Applies the ‘Safe Harbor’ to Protect Selling Shareholders in an LBO

The Supreme Court’s Merit Management opinion fails to persuade the Second Circuit to change the result in Tribune.

2nd Circuit

Holding a Contempt Hearing May Be Ok, but the Remedy Might Violate Automatic Stay

A contempt hearing fell under the ‘criminal’ exception to the automatic stay, but jailing a debtor to coerce payment of a prepetition debt violated the stay, Judge Grossman ruled.

2nd Circuit
New York
New York Eastern District

Mortgage Servicer Blew the Statute of Limitations, Judge Grossman Says

New York intermediate appellate courts are split on critical questions about the ‘start date’ for the statute of limitations on mortgage foreclosure.

2nd Circuit
New York
New York Eastern District

Rifle Held Exempt as Household Goods in Georgia but Not in Connecticut

Claiming a firearm is owned for defense of the household raises the odds that the gun will be exempt as household goods.

2nd Circuit
Connecticut

Second Circuit Explains when Default Judgments Qualify for Issue Preclusion

Discovery abuse in a prior lawsuit can result in nondischargeability in a later bankruptcy.

2nd Circuit

Immediately Withdrawing the Reference Is ‘Absurd,’ District Judge Says

Defendants in lawsuits by Lehman Brothers are stuck in bankruptcy court until the cases are ready for a jury trial.

2nd Circuit
New York
New York Southern District

Losing Competitive Advantage Doesn’t Justify Redacting a Settlement Agreement

Judge Garrity in New York adopts a narrow view of ‘commercial information’ that may be redacted in a court filing.

2nd Circuit
New York
New York Southern District

Second Circuit Defines a Prohibited Double Recovery on Fraudulent Transfers

There is no prohibited double recovery from multiple defendants, the appeals courts says, until the trustee has recovered cash equaling the value of the fraudulently transferred property.

2nd Circuit

Trustee Allowed to Sue for Fraudulent Transfer on an Unenforceable Contract

Long Island’s Judge Grossman follows the Third Circuit by finding limitations on the Rooker-Feldman doctrine.

2nd Circuit
New York
New York Eastern District

New York Judge Refuses to Waive Collateralization for Debtors’ Bank Accounts

In a large ‘prepack,’ the debtor was required to spend $80,000 a month for its depository bank to obtain a bond required by Section 345(b).

2nd Circuit
New York
New York Southern District
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