Chicago Judge Writes a Primer on Recharacterization and Equitable Subordination
Insiders were protected in making loans to a failing company.
Seventh Circuit Requires Stern Consent from Unserved Defendants in Non-Core Suits
Seventh Circuit complicates life for bankruptcy judges in deciding a case involving magistrates.
Court:
Chapter 13 Debtor Held to Lack Standing to Prosecute a Claim on an Exempt Asset
Judge fails to distinguish between cases in chapter 7 and chapter 13.
Chapter 13 Debtors May Prorate Tax Refunds in Calculating Plan Payments
Chapter 13 trustees aren’t always entitled to a turnover of tax refunds.
Allowing WARN Claims in Liquidating Chapter 11s, Chicago Judge Splits with Third Circuit
Judge adheres to plain language of agency commentary as though it were a statute.
For Insufficient Notice, a Recorded Right of First Refusal Survived a Sale
Constructive notice deprived a purchaser of ‘bona fide’ status.
Action by Three Courts Required to Settle an Appeal in the Circuit Court
Bankruptcy court approval isn’t enough to settle an appeal in the circuit court.
Court:
Veterans’ Benefits Are Included in Calculating ‘Disposable Income’ in Chapter 13
Congress must address unfairness to veterans, Judge Susan Kelley says.
Bankruptcy Management Solutions’ Exclusive Banking Arrangement Upheld in Seventh Circuit
Circuit Judge Posner finds no Bank Holding Company Act violation in exclusive use of Rabobank NA.
Court:
Explicit Provision Required to Maintain Secured Status in a Plan
Creditor lost secured status by sloppy drafting.