On an appeal involving contempt of the discharge injunction, would the circuit court have reached a different conclusion by employing the standard under Taggart?
There is no prohibited double recovery from multiple defendants, the appeals courts says, until the trustee has recovered cash equaling the value of the fraudulently transferred property.
If a lower court buys an argument that’s clearly wrong, is the argument nonetheless ‘objectively reasonable?’ And does Taggart apply to an automatic stay violation?
Disagreeing with the Tenth and D.C. Circuits and siding with four other circuits, the Seventh Circuit rules that passively holding estate property violates the automatic stay.