Entries categorized as ‘bad faith’
New Median Income Standards (09-2009)
October 13, 2009 · 1 Comment
Categories: 1325(a)(5) · 707 · 727 · Administrative Office of the Courts · BAPCPA · Census Bureau · administrative · aoc · bad faith · bankruptcy · ch 13 · ch 7 · consumer · current-events · data · dismissal · disposable · economy
This is how you spend your money …
July 20, 2009 · 1 Comment
Where it all goes ...
This chart was complied and published by Visual Economics
Categories: Administrative Office of the Courts · Census Bureau · Congress · IRS · Middle class · administrative · aoc · article · automatic stay · automobile · bad faith · bailout · bank · bankruptcy · ch 13 · ch 7 · consumer · credit · credit cards · credit counseling · creditor · crisis · current-events · disposable · economy · estate · estate planning · foreclosure · income · individual · interest · investments · means test · median income · non-debtor spouse · pay advices · plan · reaffirmation · research
Northern District Triple Play
October 6, 2008 · Leave a Comment
seal of the bankruptcy court
In re Stamat, 07-13379
U.S. Trustee v. Stamat, 07-01278
Issued September 24, 2008
Judge Jack B. Schmetterer
View and Download the Opinion in PDF format here
In re Gage, 07-06876
Issued September 17, 2008
Judge John H. Squires
View and Download the Opinion in PDF format here
In re Cramer, 08-3853
Issued September 12, 2008
Judge A. Benjamin Goldgar
View and Download the Opinion in PDF format here
Technorati tags: bankruptcy court, nd il ed, northern district, illinois, eastern division, schmetterer, squires, goldgar, opinions, adversary proceeding, U.S. Trustee
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Categories: BAPCPA · ED · IL · ND · adversary · assets · automatic stay · bad faith · bankruptcy · case update · ch 13 · ch 7 · cir 7 · consumer · creditor · current-events · data · discharge · dismissal · disposable · goldgar · income · individual · schmetterer · squires
First Case Roundup of Fall
September 10, 2008 · Leave a Comment
7th Cir
Freeland Enodis Corp., 06-4178 [Sep. 2, 2008]
In ruling on multiple appeals arising out of bankruptcy Court holds that plaintiff trustee may avoid certain transfers by the debtor as fraudulent, but further findings are required with respect to the solvency of the debtor afterward (i.e. did the transfers render the debtor insolvent). Accordingly, summary judgment for trustee on the 547 and 548 claims is reversed and the matter is remanded for further findings on the trustee’s claims that the transferee entity was merely an ‘alter ego’ of the debtor.
8th Cir
Milavetz, Gallop & Milavetz v. US, 07-2405 [Sep. 4, 2008]
In a case challenging application of the BAPCPA, summary judgment for the plaintiff is affirmed in part and reversed in part where the Court found that while attorneys providing bankruptcy assistance are “debt relief agencies” under the BAPCPA, 526(a)(4) is unconstitutional as applied to them; nonetheless 528(a)(4) and (b)(2) are constitutional so the result is to restore the effect of the amended law (at least in part).
9th Cir
Burkhart v. Coleman, 06-15411 [Sep. 4, 2008]
In an action to quiet title, rulings that federal bankruptcy law does not preempt California protection of bona fide purchasers and that unauthorized post-bankruptcy sale of real property causes title to rest with the purchaser, not the bankruptcy estate, are affirmed where: 1) the bankruptcy estate failed to record title in the property; and 2) a bona fide purchaser bought and recorded title in the property.
Categories: BAPCPA · CA · IL · bad faith · bankruptcy · business filings · ch 11 · ch 13 · ch 7 · cir 7 · cir 8 · cir 9 · consumer · creditor · current affairs · current-events · debt relief agency · fraudulent transfers · individual · liability · opinion · research
case update: cir 5, 6, 10
July 24, 2008 · Leave a Comment
5th cir
Kane v. Nat’l Union Fire Ins. Co., 07-30611 (Jul 14)
A finding of summary judgment in a PI suit, as well as judicial estoppal of the plaintiffs/debtors due to their failure to list the suit in their Chapter 7 schedules, and denial of trustee’s motion to be substituted in the case as the real party in interest, are reversed and the case is remanded because
+the PI claim became an asset of the estate upon filing of the petition
+the trustee is the real party in interest and never abandoned his right
+the debtors only benefit if a PI judgment yields a surplus to the estate
The Appellate Court also found that a prior circuit court determination in the case did not control in bankruptcy court, and the district court (which ruled that the circuit court decision controlled as a matter of law) abused its discretion.
6th cir
Phar-Mor, Inc. v. McKesson Corp., 05-4525, 05-4526 (Jul 17)
Vendor’s administrative-expense priority on a reclamation claim is not extinguished when the goods to which that claim applies are sold and the proceeds used to satisfy a secured creditor’s claim. The vendor retains it’s priority in those proceeds of the estate that remain after secured creditors are satisfied.
10th cir
In re Tri-Valley Distrib., Inc., 06-4279, 06-4280 (Jul 15)
In suit alleging state claims for fraudulent transfer and negligent lending, the parties’ motions to dismiss each other’s appeals for lack of jurisdiction are granted where:
+ bankruptcy appellate panel’s order was not final and appealable
+ denial of defendant’s motion to dismiss was not a final collateral order entitled to review
+ bankruptcy appellate panel acted within its authority
+ there was no jurisdiction to review the merits of a section 1334(c)(1) abstention issue
In re: US Med., Inc., 07-1259 (Jul 15)
Creditor is not a non-statutory insider of the debtor for purposes of 547(b)(4)(B) and a transaction between that creditor and the debtor will not be avoided where
+ the transactions at issue were at arm’s length
+ there is no undue influence or control by creditor
In sum, while creditor is only a “non-statutory insider” when its transaction of business with the debtor is not at arm’s length or there is undue influence; no such requirements are needed if the creditor qualifies as an insider per statute (“statutory insider”).
Categories: adversary · appellate court · bad faith · case update · ch 13 · ch 7 · cir 10 · cir 5 · cir 6 · consumer · individual
