Puerto Rico Bondholders Lose Another Appeal in the First Circuit
The First Circuit shows no inclination to allow creditors to bust out of the PROMESA restructuring of Puerto Rico’s debt.
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Ninth Circuit Creates a Legal Fiction to Uphold Recovery of an Unauthorized Transfer
Ninth Circuit assumed that transferred property must remain property of the estate after conversion from ‘13’ to ‘7’ before the chapter 7 trustee can avoid an unauthorized transfer under Section 549.
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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).
BMO Harris Must Faces $3.5 Billion Trial Over Ponzi Scheme
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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.
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District of Columbia Rejects the Jewel Doctrine, Joining California and New York
Lawyers leaving a bankrupt firm are not required to pay over profits on hourly matters they take to their new firms.
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Fraudulent Transfer Damages Limited to Creditors’ Total Claims
Delaware’s Judge Owens won’t allow perpetrators of a fraudulent transfer to benefit from avoiding the transfer.
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Four-Year Statute of Limitations Can Stretch to at Least Seven Years, Judge Owens Says
The one-year discovery clause in UFTA allows a debtor or trustee to file an avoidance suit even if the ordinary four-year statute has elapsed.
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