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Texas Northern District

Liquidating Trustee Ousted for an Undisclosed Litigation Funding Agreement

The pricey litigation funding agreement had not been disclosed to creditors before confirmation.

Texas Northern District

On a Split, the Deadline for Withdrawals Is 30 Days, not the 90 Days in Rule 9027

The time to withdraw a lawsuit to bankruptcy court is governed by a general federal statute that doesn’t refer to bankruptcy, not the Bankruptcy Rule that specifically governs withdrawals to bankruptcy cases, a district judge says.

Texas Northern District

A District Court Decision Implies that Marshaling Is Impermissible in Bankruptcy

The circuits are split on whether a bankruptcy court can compel marshalling by the IRS.

5th Circuit
Texas
Texas Northern District

Sub V Trustee May Be Discharged When the Debtor Makes Plan Payments

Bankruptcy Judge Larson administratively closed a Sub V case after substantial consummation.

5th Circuit
Texas
Texas Northern District

Creditor Hit with $826,000 in Sanctions for Filing a Meritless Proof of Claim

Refusing to withdraw a meritless claim with prejudice contributed to the decision by Judge Jernigan to impose high-six-figure sanctions.

5th Circuit
Texas
Texas Northern District

Debt for Selling a Gun Used in a Mass Killing Was Dischargeable

Congress might want to consider closing a dischargeability loophole when it comes to injuries indirectly resulting from commission of a felony.

5th Circuit
Texas
Texas Northern District

A Trust Didn’t Defeat a Prior, Perfected Security Interest in Accounts Receivable

The district court characterized the agreement not as creating a trust but as a device designed to win priority over a prior, perfected security interest.

5th Circuit
Texas
Texas Northern District

It’s Not Easy for a Lender to Block an LLC from Filing Bankruptcy

A small business debtor must consent for a case to be converted to Subchapter V, Judge Robert Jones says.

5th Circuit
Texas
Texas Northern District

‘Gatekeeping’ in the Fifth Circuit May Be Broader than Exculpations

Bankruptcy Judge Jernigan interprets the Fifth Circuit’s Highland Capital opinion to mean that gatekeeping protections are not limited to parties entitled to exculpation in the Fifth Circuit.

5th Circuit
Texas
Texas Northern District

‘Economic Unit Approach’ Best Fixes the Size of a ‘Household,’ Judge Larson Says

The IRS and Census methods for determining the size of a ‘household’ undercount or overcount economic realities, judge says.

5th Circuit
Texas
Texas Northern District
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