7th Circuit | ABI

Chicago Judge Writes a Primer on Recharacterization and Equitable Subordination

Insiders were protected in making loans to a failing company.

Court :

Illinois Northern District

Seventh Circuit Requires Stern Consent from Unserved Defendants in Non-Core Suits

Seventh Circuit complicates life for bankruptcy judges in deciding a case involving magistrates.

Court :

Chapter 13 Debtor Held to Lack Standing to Prosecute a Claim on an Exempt Asset

Judge fails to distinguish between cases in chapter 7 and chapter 13.

Court :

Illinois Northern District

Chapter 13 Debtors May Prorate Tax Refunds in Calculating Plan Payments

Chapter 13 trustees aren’t always entitled to a turnover of tax refunds.

Court :

Illinois Northern District

Allowing WARN Claims in Liquidating Chapter 11s, Chicago Judge Splits with Third Circuit

Judge adheres to plain language of agency commentary as though it were a statute.

Court :

Illinois Northern District

For Insufficient Notice, a Recorded Right of First Refusal Survived a Sale

Constructive notice deprived a purchaser of ‘bona fide’ status.

Court :

Wisconsin Eastern District

Action by Three Courts Required to Settle an Appeal in the Circuit Court

Bankruptcy court approval isn’t enough to settle an appeal in the circuit court.

Court :

Veterans’ Benefits Are Included in Calculating ‘Disposable Income’ in Chapter 13

Congress must address unfairness to veterans, Judge Susan Kelley says.

Court :

Wisconsin Eastern District

Bankruptcy Management Solutions’ Exclusive Banking Arrangement Upheld in Seventh Circuit

Circuit Judge Posner finds no Bank Holding Company Act violation in exclusive use of Rabobank NA.

Court :

Explicit Provision Required to Maintain Secured Status in a Plan

Creditor lost secured status by sloppy drafting.

Court :

Illinois Northern District

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