A Promise Not to Enforce a Judgment Meant There Was No Discharge Violation
The inability to modify a Section 524(a) discharge put the Ninth Circuit BAP in a bind.
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Sixth Circuit Restricts Ability to Surrender Collateral and Modify a Chapter 13 Plan
Once a chapter 13 plan is confirmed, a debtor in the Sixth Circuit may not surrender collateral and treat the deficiency as an unsecured claim.
Debtor Granted Absolution for a 10-Day Delay in Serving a $40 Million Preference Suit
Although there wasn’t ‘good cause’ to excuse late service of a summons and complaint, the bankruptcy court salvaged a large preference by exercising discretion and granting a 10-day expansion of the 90-day deadline.
BAP Upholds Confirmation of a Plan with No Trust for Future Asbestos Claimants
Ninth Circuit BAP confirmed a plan with no future creditors’ trust when the debtor claimed there were no future claims and no one was in court representing future claimants.
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WARN Act Damages of $15,100 Per Worker Are Section 507(a)(4) Priority Claims
A chapter 11 debtor may be saddled with smaller WARN Act claims by imposing mass layoffs after filing.
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Supreme Court Update
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.
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Second Circuit Updates with Bill Rochelle
Fifth Circuit Explains When There Is No Double Recovery from Avoiding a Lien
Circuit Judge Edith Jones explains that the word ‘or’ in Section 550(a) doesn’t mean ‘and.’
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Consent Is an Exception to Jevic’s Insistence on Respecting Priorities in Distribution
Consent from administrative creditors provided grounds for approving DIP financing and a sale when the estate was administratively insolvent.