October 7, 2021
New York district judge requires a student loan debtor to prove the reasonableness of living expenses when the lender never objected.
September 24, 2021
Had the purchaser of estate claims offered to waive its own unsecured claim, the sale might have been approved.
September 21, 2021
Bankruptcy Judge Eduardo Rodriguez explained why the Second Circuit was wrong in ruling that violators of Rule 3002.1 are only liable for compensatory damages.
September 17, 2021
Properly structuring a leveraged refinancing in the Second Circuit can avoid attack as a fraudulent transfer despite the Supreme Court’s effort at narrowing the ‘safe harbor.’
September 10, 2021
Reversing the bankruptcy court, a district judge in New York held that a civil penalty wasn’t discharged even though the fraud wasn’t committed against the government.
September 1, 2021
Second Circuit Revives $3.75 Billion in Lawsuits by the Madoff Trustee Against Financial Institutions
Reversing in favor of the Madoff trustee, the Second Circuit rules that inquiry notice, not willful blindness, governs the good faith defense by recipients of fraudulent transfers.
August 13, 2021
Judge Grossman didn’t abolish ‘chapter 20’ entirely. He required the debtor to treat the subordinate mortgage lender like all other unsecured creditors, even though the debtor’s personal liability to the lender had been discharged in the prior chapter 7 case.
August 12, 2021
A creditor can’t assert a cure claim, even though Section 365(b) doesn’t give the counterparty the sole right to demand a cure on assumption of an executory contract.
August 5, 2021
Even for egregious, repeated violations of Bankruptcy Rule 3002.1, the bankruptcy court may only award recovery of economic losses, never punitive damages.
July 20, 2021
No circuit split: The Second Circuit agrees with the Fifth and Tenth Circuits that only a subset of private student loans is automatically nondischargeable.