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ABI Journal

New York

Chapter 13 Creditors Get Exempt Assets that Produce Income

Exempt assets are included in the calculation of chapter 13 projected disposable income to the extent that the exempt asset produces income.

2nd Circuit
New York
New York Northern District

Lender Defaulted on the Merits for ‘Prolonged, Extraordinary’ Discovery Violations

Despite contrary Second Circuit dicta, retiring Judge Robert Drain certified a nationwide class in a suit for violation of the discharge injunction.

2nd Circuit
New York
New York Southern District

Rochester Diocese Loses Stay Protection for Nondebtor Catholic Entities

After almost three years in chapter 11 without a consensual plan, Bankruptcy Judge Warren is allowing sexual abuse claimants to sue nondebtor parishes and schools.

2nd Circuit
New York
New York Western District

District Judge Barred Redesignation to SBRA in a Case Pending 16 Months

Redesignation under the SBRA might become a hot topic once again when (if) Congress raises the cap back to $7.5 million.

2nd Circuit
New York
New York Eastern District

Another New York District Judge Is Hostile to Nondebtor, Third-Party Releases

At the risk of committing error, a district judge in New York reads a third-party release to cover only derivative claims, not direct claims that a creditor may have against a nondebtor.

2nd Circuit
New York
New York Southern District

Long Island Judge Ends ‘Loss Mitigation’ in His Courtroom

No more informal ‘no-look’ fees in the courtroom of Bankruptcy Judge Robert Grossman.

2nd Circuit
New York
New York Eastern District

Rule 11 Sanctions Coming for Madoff Customers Refusing to Give Up ‘Fictitious Profits’

Two district judges are becoming incensed by ‘net winners’ in the Madoff Ponzi scheme who continue litigating and losing on the same issues.

2nd Circuit
New York
New York Southern District

Ordinary Excuses Won’t Justify Plan-Filing Delays in Subchapter V

A fight between creditors justifies granting a Subchapter V debtor more time to file a plan, Judge Lane says.

2nd Circuit
New York
New York Southern District

How the Ordinary Course Defense Works When the Supplier Doesn’t ‘Hound’ for Payment

The ‘average-lateness’ test reveals payments that were not made in the ‘ordinary course.’

2nd Circuit
New York
New York Eastern District

‘13’ Trustees Are Paid Even if Dismissal Comes Before Confirmation, District Judge Says

A chapter 13 trustee is not a federal employee for the purposes of the Federal Tort Claims Act.

2nd Circuit
New York
New York Eastern District
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