Bankruptcy Filings Nearing Million
From the Bankruptcy Law Network
Posted Aug 28 by Jill Michaux
Almost a million bankruptcy cases were filed since last June according to UST statistics.
Consumer +28.4%
Business +41.6%
Ch. 7 +36.7%
Ch. 13 +16.9%
Ch. 11 +30.6%
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3rd cir
Windt v. Qwest Communications, 06-4662, 06-4808 [June 10, 2008]
In a lawsuit brought by bankruptcy trustees of a Dutch company asserting various claims against defendants who were allegedly responsible for the company’s insolvency, judgment dismissing trustee-plaintiff’s complaint on forum non-conveniens grounds is affirmed where the district court did not abuse its discretion in: 1) affording low deference to plaintiffs’ choice of forum in view of Netherlands’ substantial interest in resolving a dispute concerning alleged mismanagement of a Dutch company by board members and officers of that Dutch company; 2) concluding that avoiding problems in the application of foreign law favored dismissal; 3) balancing the public and private interest factors implicated in the case; and 4) determining that the convenience of litigating the dispute in New Jersey was outweighed by the oppressive or vexatious effect on defendants.
8th cir
US v. Mitchell, 07-3136 [June 10, 2008]
Conviction upon defendant’s retrial for knowingly and fraudulently making a false statement under penalty of perjury in a bankruptcy case is affirmed where the circuit court declines to revisit a double jeopardy issue, and there was sufficient evidence to sustain his conviction.
ND IL ED
In re Weadley, 06-1854
Bibby Financial v. Weadley, 07-683
Issued June 11, 2008
Judge A. Benjamin Goldgar
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9th cir
Donell v. Kowell, 06-55544 [July 1, 2008]
District court required investor to disgorge profits from a Ponzi scheme pursuant to requirements of the UFTA. The judgment was affirmed by court of appeals, which:
1) adopted the standard 2-step analysis for determining liability;
2) found no error in the district court’s application of the analysis;
3) determined court could require innocent investors to disgorge net profits; and
4) declined to permit good faith investors to claim offsets for expenses.
GE Capital v. Future Media, 07-55694 [July 3, 2008]
Bankruptcy court’s order denying default interest and attorney’s fees to a creditor is reversed and remanded where the appellate court found that
1) the bankruptcy court had improperly applied In re Entz-White Lumber and Supply, 850 F.2d 1338 (cir 9, 1988); and
2) the default rate is presumptively valid unless its application would violate non-bankruptcy law.
11th cir
In Re: Donovan, 07-13046 [July 2, 2008]
The circuit court lacks jurisdiction to review a bankruptcy court’s order denying an unsecured creditor’s motion to dismiss a Chapter 7 case when the bankruptcy court neither conclusively resolved the bankruptcy case as a whole nor resolved any adversary proceeding or claim.
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10th cir
In re: Aramark Leisure Servs. v. Kendrick, No. 07-4120
In a special proceeding under the Limitation of Vessel Owner’s Liability Act arising from a boating accident, and involving coverage for the accident, a judgment finding that plaintiff-vessel owner’s insurer was required to provide primary coverage to the vessel operator is reversed and remanded where: 1) there was federal subject matter jurisdiction over the matter; and 2) the district court erred in holding the insurer liable to the operator, as the insurer had a valid escape clause and the operator has no claim against it that he is required to exhaust under Utah Code Ann. section 31A-28-213(1)(a).
11th cir
Trusted Net Media Holdings, LLC v. Morrison Agency, Inc., No. 07-13429
The requirements of 11 U.S.C. section 303(b) for filing an involuntary bankruptcy petition must be satisfied in order for the bankruptcy court to have subject matter jurisdiction over an involuntary bankruptcy case.
Census Bureau Median Family Income By Family Size (Cases Filed On and After February 1, 2008) Median family income data for use in completing Bankruptcy Forms 22A and 22C. FAMILY SIZE STATE 1 EARNER 2 PEOPLE 3 PEOPLE 4 PEOPLE * Alab $36,192 $44,918 $51,103 $62,015 Alask $45,012 $68,008 $72,382 $73,825 Arizon $40,945 $53,153 $59,782 $66,903 Arkans $32,534 $41,760 $48,943 $53,671 Califor $46,814 $61,742 $66,611 $76,931 Colo $44,203 $62,302 $66,731 $77,933 Conn $55,410 $68,879 $78,973 $96,493 Del $44,378 $55,646 $66,687 $80,552 Dist. Col. $39,504 $67,790 $67,790 $73,609 Fla $40,036 $50,636 $56,923 $66,876 Geor $39,171 $51,425 $58,885 $68,611 Haw $47,256 $60,223 $71,553 $86,878 Ida $37,347 $48,211 $54,709 $59,720 Ill $44,673 $56,545 $66,607 $77,634 Ind $39,384 $51,056 $57,510 $69,718 Iowa $37,759 $50,581 $59,331 $69,723 Kans $38,594 $52,989 $58,075 $69,831 Kent $37,097 $43,482 $52,106 $61,917 Louis $34,342 $42,682 $52,231 $61,874 Maine $38,090 $47,699 $59,883 $65,310 Maryl $52,597 $68,075 $80,344 $96,695 Mass $52,633 $63,039 $77,960 $91,892 Mich $43,123 $51,878 $61,796 $74,658 Minn $45,217 $60,377 $70,695 $83,797 Mississ $30,424 $38,919 $43,587 $54,501 Misso $37,747 $48,944 $56,478 $65,076 Mont $38,968 $48,079 $53,595 $62,301 Nebr $37,209 $52,690 $59,708 $70,880 Neva $45,642 $57,860 $65,032 $67,977 New H $51,512 $63,505 $72,736 $89,885 New J $56,151 $64,821 $83,306 $97,131 New M $35,691 $48,870 $48,870 $53,516 New Y $44,587 $54,397 $64,673 $77,664 N Carol $36,271 $49,259 $55,498 $63,169 N Dak $36,735 $49,893 $61,305 $69,484 Ohio $40,168 $49,708 $59,786 $70,532 Okla $34,554 $46,222 $48,730 $56,598 Oreg $42,460 $53,236 $59,686 $66,678 Penns $43,166 $50,628 $63,491 $76,182 Rhode $47,080 $59,763 $64,933 $80,416 S Carol $35,185 $46,521 $52,992 $61,362 S Dakot $32,854 $49,419 $61,884 $65,317 Tenn $36,380 $46,039 $53,337 $61,856 Tex $36,285 $51,355 $53,803 $61,511 Utah $45,724 $51,583 $58,285 $65,397 Vt $42,344 $53,622 $61,825 $69,817 Virg $46,055 $61,115 $69,719 $80,646 Wash $48,030 $60,252 $68,139 $77,280 W. Va $37,164 $39,602 $50,440 $57,513 WIsc $41,528 $54,297 $65,440 $74,560 Wyom $35,941 $53,330 $60,289 $73,597 Add $6,900 for each individual in excess of 4 COMMONWEALTH
FAMILY SIZE 1 EARNER 2 PEOPLE 3 PEOPLE 4 PEOPLE * GUAM $34,783 $41,588 $47,392 $57,351 NORTHERN MARIANA ISLANDS $23,357 $23,357 $27,175 $39,969 PUERTO RICO $19,736 $19,736 $22,256 $26,128 VIRGIN ISLANDS $27,597 $33,169 $35,364 $38,746
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