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ABI Journal

Jr.

Plan Didn’t Extinguish Debts, Only Discharged Them, Fifth Circuit Says

A plan saying that it satisfies and settles claims does nothing more than discharge the claims. It doesn’t extinguish the claims, the Fifth Circuit says.

When an Objection Is Required for an Exemption Covering ‘100% of FMV’

Judge Hoffman explains when objections are or aren’t required for exemptions covering ‘100% of FMV’ under the current form 106C.

Judge Oldshue Splits with Two Circuits: No Nondischargeability for Sub V Corporations

The bankruptcy judge in Pensacola, Fla., is giving the Eleventh Circuit an opening to split with the Fourth and Fifth Circuits.

Barton Halted Third Parties from Suing in an Allegedly Better Forum

When third parties sued a trust created by a confirmed chapter 11 plan, Judge Garrity declined to invent any new exceptions to the Barton doctrine.

Without Levy, a Recorded Judgment Lien Is Unperfected in Some States

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.

Fourth Circuit Upholds a $31 Million Default Judgment for Discovery Abuses

Long Island’s Judge Grossman warns lawyers that they may be paid nothing if they file chapter 11 cases just to delay a secured creditor, with no legitimate strategy for selling the property, refinancing or confirming a plan.

To Defeat Summary Judgment, an Affidavit Can’t Be Contradictory, Fifth Circuit Says

A court can evaluate the credibility of an affidavit when deciding whether there’s a material issue of disputed fact to defeat summary judgment.

Supreme Court’s Jarkesy Opinion Clarifies Granfinanciera on Jury Trial Rights

A Supreme Court nonbankruptcy decision means there is no right to a jury trial in the claims-allowance process in bankruptcy.

Split Fourth Circuit Panel Bars Use of Equity to Correct an Oversight in Retention

The majority in the Fourth Circuit based a bright-line rule on the presence of the word ‘the’ in Section 327(a).

The ‘Ordinary Course’ Defense Is Satisfied by Showing One of the Two Tests, Not Both

Following the 2005 amendments, satisfying either the subject test or the objective test will prove the ‘ordinary course’ defense to a preference, Judge Hoffman says.