The ‘probate exception’ to federal subject matter jurisdiction does not prevent bankruptcy courts from basing decisions on state trusts and estates law, except in limited circumstances.
Fancy drafting by ‘brilliant financiers and lawyers,’ the judge said, didn’t validate an uptier transaction when the ‘effect’ was to release collateral without a two-thirds vote.
The self-insured retention can prevent a creditor from using the insurer exception to sue the insurance company with the debtor as a nominal defendant.
The ‘billing approach,’ not the ‘accrual approach,’ decides whether there is a priority claim for personal property and real estate leases more than 60 days after filing.
Because a right of redemption does not give rise to a claim, Section 1322(b) doesn’t enable a debtor to redeem foreclosed property when the right of redemption has expired.
In New Jersey, a trustee’s hypothetical judicial lien has priority over a judgment lien if the judgment lienholder has not made a levy on the property.
