2nd Circuit

Second Circuit Won’t Vacate the Stay Pending Appeal from Voyager’s Confirmation Order

A terse Second Circuit order seems to mean that a stay of a confirmation order pending appeal granted in district court can’t be appealed to the circuit, at least when the appeal is being expedited.

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Rebuffed in Bankruptcy Court, the Government Wins a Stay of Voyager’s Confirmation

The U.S. Attorney argued in district court that the Voyager plan would bar the government from enforcing federal regulations and criminal laws.

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Proceeds from Post-Petition Sales Aren’t to Be Turned Over to the Chapter 13 Trustee

Before confirmation, district judge says that a chapter 13 debtor is only required to turn over disposable income to a trustee, not proceeds from a post-petition sale of property.

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Oversecured Creditor Granted ‘Default’ Interest on a Loan Purchased at Discount

District judge in Connecticut upheld an award of ‘default’ interest, even though the fully secured lender had opposed the chapter 11 process and resisted the use of its cash collateral.

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Connecticut

Revlon Says: Creditors Lack Standing to Assert Claims of ‘General Interest to the Estate’

A creditor with ‘derivative’ claims based on preference or fraudulent transfer can’t convert them to ‘direct’ claims by asking for equitable relief.

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Converting a Foreign ‘Rescue’ to Liquidation Doesn’t Require a New Chapter 15 Petition

If there’s an appeal, Bankruptcy Judge Garrity told the district judge all there is to know about chapter 15.

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Preliminary Injunction Didn’t Render a Contract Nonexecutory

A preliminary injunction in state court didn’t invoke comity or Rooker-Feldman to bar the bankruptcy court from rejecting an executory contract.

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For the Cap on Lease Rejection Claims, Judge in the SDNY Adopts the ‘Time Approach’

Bankruptcy Judge Michael Wiles differed with his colleagues who in previous years had employed the ‘time approach’ in calculating a landlord’s rejection damages under Section 502(b)(6).

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Second Circuit Limits the Significance of Homaidan on Discharge of Private Student Loans

The Fair Credit Reporting Act doesn’t require credit reporting agencies to resolve disputed facts or law about the discharge of private student loans.

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