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2nd Circuit

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

Second Circuit Opinion Raises Questions Left Open by Taggart v. Lorenzen

If a lower court buys an argument that’s clearly wrong, is the argument nonetheless ‘objectively reasonable?’ And does Taggart apply to an automatic stay violation?

2nd Circuit

Rule 2004 Discovery Barred for Use in Litigation Outside Bankruptcy Court

Judge Sean Lane publishes an opinion to nip an improper discovery tactic in the bud.

2nd Circuit
New York
New York Southern District

Religious Contributions Not Considered in Dischargeability of Student Loans

First Amendment doesn’t compel deduction of religious contributions in finding an ‘undue hardship’ justifying the discharge of student loans.

2nd Circuit
New York
New York Southern District

Delay in Appointment of a Foreign Representative Isn’t Fatal to Chapter 15 Recognition

Allegedly repudiating U.S. dollar obligations won’t preclude a finding of property in the U.S., Judge Lane rules.

2nd Circuit
New York
New York Southern District

Disclosing an Asset in the Wrong Place Won’t Invoke Judicial Estoppel, Circuit Says

Second Circuit won’t give a defendant a windfall if the debtor scheduled the lawsuit in the wrong place but told the trustee and the court.

2nd Circuit

Freezing a Chapter 7 Debtor’s Bank Account Doesn’t Violate the Automatic Stay

SDNY opinion seems to mean that a bank may freeze a debtor’s entire bank account at filing, without violating the automatic stay.

2nd Circuit
New York
New York Southern District

New York Judge Gives Reasons for Nixing Nonconsensual, Third-Party Releases

Bankruptcy Judge Wiles explains the jurisdictional, statutory and constitutional reasons why nonconsensual releases are improper in the Second Circuit except in exceptional circumstances.

2nd Circuit
New York
New York Southern District
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