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ABI Journal

2nd Circuit

The Proper Role of an Expert on Willful Blindness in a Fraudulent Transfer Suit

Madoff spawns more law, this time on expert testimony about the good faith defense to a fraudulent transfer with ‘actual intent.’

French ‘Safeguard’ Plan Held to Qualify for Enforcement in the U.S.

New York judge enforces a French reorganization similar to a U.S. prepack.

Manhattan Judge Refuses to Rubber-Stamp a Sealing Motion

Protecting negotiating leverage isn’t grounds for sealing the terms of a lease.

New York Judge Bars Use of Chapter 15 to Disrupt a Foreign Bankruptcy

‘Bankruptcy tourism’ seems unaffected by an unusual cross-border insolvency.

Trustee’s Stated Intent to Abandon by Itself Won’t Allow a Debtor to Sell

Estate property must be formally abandoned before the power of sale reverts to the debtor.

Owning a Home Through an LLC Can Preclude a Homestead Exemption

State laws vary on allowing homestead status for a house owned through an LLC.

New GM Ignition Switch Suits Can Proceed in State Court, District Judge Says

The circuit court’s resolution of the bankruptcy law question prevents New GM from removing new suits to federal court.

Non-Voting Creditors’ Consent to Third Party Releases Can’t Be Inferred

New York and Delaware judges disagree on third party releases by non-voting creditors.

Interlocutory Orders Compelling Arbitration May Be Appealed with Permission

Shallow constitutional foundation of the bankruptcy court justifies allowing interlocutory appeals, district judge says.

Second Circuit Splits with Third on Makewholes Occasioned by Bankruptcy

Till doesn’t apply in fixing cramdown interest rates in major corporate reorganizations, circuit says.