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Practice and Procedure

Fifth Circuit Again Says: No ‘Futility Defense’ Under the Texas UFTA

Following the answer by the Texas Supreme Court to a certified question, the Fifth Circuit again rules that an inability to discover fraud won’t absolve a transferee from the duty to investigate suspicions of fraud.

5th Circuit

Supreme Court Hears Argument in Fulton: Is Inaction an Automatic Stay Violation?

Supreme Court to resolve a circuit split by deciding whether a change in the status quo must occur before the automatic stay is violated.

Supreme Court

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

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

3rd Circuit
Pennsylvania
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.

10th Circuit
Colorado

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.

1st Circuit

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

Nov 2020

Bankruptcy Code
11 U.S.C. § 544
Topic Tags
Claims
Practice and Procedure
Uniform Commercial Code/Article 9

Legislative Highlights October 2020

Oct 2020

Topic Tags
Legislation
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.

2nd Circuit
New York
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.

5th Circuit
Louisiana

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.

2nd Circuit
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