Lawyer for Madoff Customer Slapped with $57,347 Discovery Sanction
Calling the Madoff trustee a liar and basing a discovery motion on facts known to be false resulted in sanctions under Rule 37(a)(5)(B).
Judge Finds a Workaround to Avoid Using Nunc Pro Tunc Retentions
Judge Grossman finds a way to grant allowances of compensation for services performed before the entry of a retention order.
To Impair an Exemption, Judicial Lien Must Attach to Property the Debtor Already Owns
A judicial lien may be avoided under Section 522(f) only if the lien attached after the debtor acquired the property.
Court:
To Avoid U.S. Trustee Fees, Court Liberally Allows Closing a Case After Confirmation
Pending adversary proceedings don’t preclude a finding that the chapter 11 case has been ‘fully administered,’ thus allowing entry of a final decree and cutting off further fees owing to the U.S. Trustee Program.
Court:
District Court Strictly Enforces ‘Adequate Assurance’ Standards for Shopping Centers
District court reverses and bars Sears from assigning Mall of America lease.
Second Circuit Plugs Another Hole in the Johns-Manville Asbestos Trust
Reinstating a ruling by Bankruptcy Judge Cecelia Morris, the appeals court held that the Manville asbestos trust covers both in rem and in personam claims by ‘future’ claimants against insurers and brokers.
Court:
Bankruptcy Court Still Has Power to Enter Final Judgments by Default after Wellness
Failure to respond to a well-pleaded complaint implies consent for the bankruptcy court to enter final judgment in an avoidance action, Judge Glenn rules.
May a Chapter 13 Plan Pay a Larger Percentage Toward Student Loans?
Since Congress has made student loans virtually nondischargeable, why can’t a chapter 13 plan discriminate in favor of paying more toward student loans?
Technicalities Insulated a Lawyer from Liability for Misusing an IOLA
A creditor lost a dischargeability suit by failing to call the right witnesses to prove that a lawyer’s trust account was used to hide assets.
A Chapter 11 Filing Can Extend an Inflexible Closing Date by 60 Days
Filing a chapter 11 petition to obtain an automatic 60-day extension of a closing date is not a bad faith filing, Judge Bernstein says.