2nd Circuit

Trustee’s Stated Intent to Abandon by Itself Won’t Allow a Debtor to Sell

Estate property must be formally abandoned before the power of sale reverts to the debtor.

Owning a Home Through an LLC Can Preclude a Homestead Exemption

State laws vary on allowing homestead status for a house owned through an LLC.

New GM Ignition Switch Suits Can Proceed in State Court, District Judge Says

The circuit court’s resolution of the bankruptcy law question prevents New GM from removing new suits to federal court.

Non-Voting Creditors’ Consent to Third Party Releases Can’t Be Inferred

New York and Delaware judges disagree on third party releases by non-voting creditors.

Interlocutory Orders Compelling Arbitration May Be Appealed with Permission

Shallow constitutional foundation of the bankruptcy court justifies allowing interlocutory appeals, district judge says.

Second Circuit Splits with Third on Makewholes Occasioned by Bankruptcy

Till doesn’t apply in fixing cramdown interest rates in major corporate reorganizations, circuit says.

Using a U.S. Bank Precludes a Foreigner from Winning Dismissal Based on Comity

Stay violation and turnover suits held proper extraterritorial application of U.S. law.

Previously Listing Property as a Principal Residence Didn’t Preclude a Later Cramdown

Limited knowledge of English and ‘nuances’ in legal terms saved debtor from a fatal admission.

Transferring COMI to Avoid Liquidation Is Ok in Chapter 15

New York offers a chapter 15 home for foreign companies hoping to avoid liquidation.