Practice and Procedure | ABI

A Gaming License Isn’t ‘Property’ and Thus Can’t Be Fraudulently Transferred

A gaming license in Pennsylvania is a revocable ‘privilege.’

Court :

Pennsylvania Eastern District

‘Fair Ground of Doubt’ Under Taggart Isn’t Shown by Intending to Overturn Precedent

The contemnor shoulders the burden of showing ‘uncertainty’ under the Taggart standard for contempt, Judge Barnes says.

Court :

First Circuit Won’t Allow a Lien to Be Waived by Implication

Foreclosing on cash doesn’t moot an appeal from the order modifying the automatic stay as to cash.

Court :

If Seventh Circuit “Got It Right,” Standard Regarding “Indication” of Collateral Needs a Tune-Up

Bankruptcy Code

11 U.S.C. § 544

Topic Tags

Practice and Procedure

Uniform Commercial Code/Article 9

Legislative Highlights October 2020

Topic Tags

Practice and Procedure

Consumer Bankruptcy

Business Reorganization

On a Split, Long Island Judge Allows Selling a Home Despite the Homeowner’s Objection

A homestead exemption does not bar selling a home when the chapter 7 debtor has no equity in the property, Judge Robert Grossman says.

Court :

New York Eastern District

Surety Bonds Aren’t Executory Contracts and Can’t Be Assumed Even if They Are

Insurance companies must nail down the treatment of performance bonds before plan confirmation.

Court :

Second Circuit Upholds the Madoff Trustee’s Calculation of Fraudulent Transfer Claims

Fictitious profits in account statements don’t represent ‘value’ and give rise to a defense for receipt of a fraudulent transfer with ‘actual intent,’ the Second Circuit rules.

Court :

Substituting a Trustee as the Party in Interest Isn’t Amending the Complaint

Even after the statute of limitations has run, a trustee may be substituted for the debtor as the real party in interest, Michigan district judge says.

Court :

Michigan Eastern District

Fraudulent Transfer Law Doesn’t Victimize Innocent Parties, Judge Wiles Says

Ownership of a bank account isn’t enough by itself to make the account holder the initial transferee of a fraudulent transfer.

Court :

New York Southern District

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